Gerard Place Housing Development Fund Company Inc
Gerard Place Housing Development Fund Company Inc maintains stable finances with no reported officer compensation.
EIN: 161562738 · Buffalo, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $2.0M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $6.7M |
| Transparency Score | 92/100 |
Is Gerard Place Housing Development Fund Company Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gerard Place Housing Development Fund Company Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gerard Place Housing Development Fund Company Inc
Gerard Place Housing Development Fund Company Inc (EIN: 161562738) is a nonprofit organization based in Buffalo, NY, classified under NTEE code L20. The organization reported total revenue of $2.6M and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gerard Place Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gerard Place Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 14 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 11.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.0M |
| Surplus / Deficit | +$100K |
| Total Assets | $6.9M |
| Total Liabilities | $174K |
| Net Assets | $6.7M |
| Operating Margin | 4.8% |
| Debt-to-Asset Ratio | 2.5% |
| Months of Reserves | 42.1 months |
Financial Health Grade: A
In 2023, Gerard Place Housing Development Fund Company Inc reported a surplus of $100K with revenue exceeding expenses, holds 42.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.5% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Gerard Place Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -25.2% | +3.9% | +1.1% |
| 2022 | +8.1% | +15.4% | -12.8% |
| 2021 | +31.5% | +0.3% | +18.1% |
| 2020 | +19.4% | -14.0% | +4.8% |
| 2019 | -49.8% | +73.5% | -6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2012 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Gerard Place Housing Development Fund Company Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Gerard Place Housing Development Fund Company Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $100K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to officers, which is highly unusual and suggests a volunteer-led or extremely lean executive structure relative to its size and revenue of over $2 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Gerard Place Housing Development Fund Company Inc:
- Consistent positive operating margins in recent years (e.g., $2,070,530 revenue vs. $1,970,985 expenses in 202312).
- Zero reported officer compensation across all 14 filings, indicating high efficiency and program focus.
- Significant growth in assets from $1,174,755 in 201412 to $6,920,502 in 202312.
- Low liabilities relative to assets in recent periods (e.g., $173,989 liabilities vs. $6,920,502 assets in 202312).
- Consistent filing of IRS 990 forms over 14 periods, demonstrating strong transparency.
Frequently Asked Questions about Gerard Place Housing Development Fund Company Inc
Is Gerard Place Housing Development Fund Company Inc a legitimate charity?
Gerard Place Housing Development Fund Company Inc (EIN: 161562738) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 14 years of IRS 990 filings on record. Total revenue: $2.6M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Gerard Place Housing Development Fund Company Inc spend its money?
Gerard Place Housing Development Fund Company Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Gerard Place Housing Development Fund Company Inc tax-deductible?
Gerard Place Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 161562738). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Gerard Place Housing Development Fund Company Inc CEO make?
Gerard Place Housing Development Fund Company Inc's highest-compensated officer earns $2 annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Gerard Place Housing Development Fund Company Inc's spending goes to programs?
Gerard Place Housing Development Fund Company Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gerard Place Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Gerard Place Housing Development Fund Company Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gerard Place Housing Development Fund Company Inc located?
Gerard Place Housing Development Fund Company Inc is headquartered in Buffalo, New York and files with the IRS under EIN 161562738. It is classified under NTEE code L20.
How many years of IRS 990 filings does Gerard Place Housing Development Fund Company Inc have?
Gerard Place Housing Development Fund Company Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.6M in total revenue.
Is Gerard Place Housing Development Fund Company Inc a good charity?
Based on the available data, Gerard Place appears to be a very good charity. It demonstrates strong financial health, consistent revenue, growing assets, and notably, zero reported officer compensation, suggesting a high dedication to program spending.
How has Gerard Place's financial health changed over time?
Gerard Place has shown significant financial growth and stability. Revenue has generally increased from $988,595 in 201412 to over $2 million in recent years, and assets have grown substantially from $1,174,755 in 201412 to $6,920,502 in 202312, indicating robust financial management.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available filings, which is a highly positive indicator of its commitment to directing funds towards its mission rather than executive salaries.
Filing History
IRS 990 filing history for Gerard Place Housing Development Fund Company Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Gerard Place Housing Development Fund Company Inc's revenue has grown by 289.5%, moving from $532K to $2.1M. Total assets increased by 869.5% over the same period, from $714K to $6.9M. Total functional expenses rose by 297.3%, from $496K to $2.0M. In its most recent filing year (2023), Gerard Place Housing Development Fund Company Inc reported a surplus of $100K, with revenue exceeding expenses. The organization holds $174K in liabilities against $6.9M in assets (debt-to-asset ratio: 2.5%), resulting in net assets of $6.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.0M | $6.9M | $174K | — | — |
| 2022 | $2.8M | $1.9M | $6.8M | $190K | — | — |
| 2021 | $2.6M | $1.6M | $7.9M | $1.6M | — | View 990 |
| 2020 | $1.9M | $1.6M | $6.6M | $1.6M | — | — |
| 2019 | $1.6M | $1.9M | $6.3M | $1.6M | — | View 990 |
| 2018 | $3.3M | $1.1M | $6.8M | $1.8M | — | View 990 |
| 2017 | $2.0M | $873K | $3.3M | $406K | — | View 990 |
| 2016 | $1.4M | $769K | $2.6M | $852K | — | View 990 |
| 2015 | $869K | $875K | $1.8M | $631K | — | View 990 |
| 2014 | $989K | $804K | $1.2M | $39K | — | View 990 |
| 2013 | $1.1M | $926K | $1.0M | $58K | — | View 990 |
| 2012 | $991K | $865K | $837K | $56K | — | View 990 |
| 2011 | $765K | $809K | $704K | $48K | — | View 990 |
| 2010 | $532K | $496K | $714K | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.0M, and assets of $6.9M (revenue -25.2% year-over-year).
- 2022: Revenue of $2.8M, expenses of $1.9M, and assets of $6.8M (revenue +8.1% year-over-year).
- 2021: Revenue of $2.6M, expenses of $1.6M, and assets of $7.9M (revenue +31.5% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.6M, and assets of $6.6M (revenue +19.4% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.9M, and assets of $6.3M (revenue -49.8% year-over-year).
- 2018: Revenue of $3.3M, expenses of $1.1M, and assets of $6.8M (revenue +65.4% year-over-year).
- 2017: Revenue of $2.0M, expenses of $873K, and assets of $3.3M (revenue +43.0% year-over-year).
- 2016: Revenue of $1.4M, expenses of $769K, and assets of $2.6M (revenue +58.1% year-over-year).
- 2015: Revenue of $869K, expenses of $875K, and assets of $1.8M (revenue -12.1% year-over-year).
- 2014: Revenue of $989K, expenses of $804K, and assets of $1.2M (revenue -9.8% year-over-year).
- 2013: Revenue of $1.1M, expenses of $926K, and assets of $1.0M (revenue +10.7% year-over-year).
- 2012: Revenue of $991K, expenses of $865K, and assets of $837K (revenue +29.4% year-over-year).
- 2011: Revenue of $765K, expenses of $809K, and assets of $704K (revenue +44.0% year-over-year).
- 2010: Revenue of $532K, expenses of $496K, and assets of $714K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gerard Place Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Gerard Place Housing Development Fund Company Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.