Goodheart Housing Development Fund Company Inc
Goodheart Housing Development Fund Company Inc shows consistent revenue growth and strong program spending efficiency with no reported officer compensation.
EIN: 133171445 · Brookly, NY · NTEE: L21Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $1.0M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1.7 |
| Net Assets | $1.7M |
| Transparency Score | 92/100 |
Is Goodheart Housing Development Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodheart Housing Development Fund Company Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Goodheart Housing Development Fund Company Inc
Goodheart Housing Development Fund Company Inc (EIN: 133171445) is a nonprofit organization based in Brookly, NY, classified under NTEE code L21Z. The organization reported total revenue of $2.3M and total assets of $3.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodheart Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodheart Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 43 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 5.4%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $1.0M |
| Surplus / Deficit | +$717K |
| Total Assets | $2.7M |
| Total Liabilities | $1.0M |
| Net Assets | $1.7M |
| Operating Margin | 40.9% |
| Debt-to-Asset Ratio | 37.9% |
| Months of Reserves | 31.3 months |
Financial Health Grade: A
In 2024, Goodheart Housing Development Fund Company Inc reported a surplus of $717K with revenue exceeding expenses, holds 31.3 months of operating reserves (strong position), has a debt-to-asset ratio of 37.9% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Goodheart Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +5.4% | +4.8% | +20.0% |
| 2023 | +2.0% | -5.0% | +21.7% |
| 2022 | +2.3% | -1.1% | +28.0% |
| 2021 | +0.8% | -7.1% | +30.0% |
| 2020 | +13.0% | +20.1% | +28.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Goodheart 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Goodheart Housing Development Fund Company Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $717K, with revenue exceeding expenses.
- Debt-to-asset ratio: 37.9%.
Executive Compensation Analysis
Goodheart Housing Development Fund Company Inc consistently reports 0% officer compensation across all 14 available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size with revenues exceeding $1.7 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.
Red Flags
The following concerns were identified during AI analysis of Goodheart Housing Development Fund Company Inc's IRS 990 filings:
- Consistent 0% officer compensation, which, while positive for mission spending, can sometimes indicate potential for undisclosed compensation or reliance on external entities for management services not fully transparent in the 990.
Strengths
The following positive indicators were identified for Goodheart Housing Development Fund Company Inc:
- Strong program spending ratio (85% of expenses).
- Consistent revenue growth over multiple years (e.g., from $1,578,364 in 2020 to $1,750,603 in 2024).
- Significant asset growth and decreasing liabilities, indicating improved financial health (Assets grew from $1,111,020 in 2020 to $2,700,420 in 2024, while Liabilities decreased from $1,954,066 to $1,022,155).
- Very low administrative and fundraising costs (10% admin, 5% fundraising).
- No reported officer compensation, maximizing funds for mission-related activities.
Frequently Asked Questions about Goodheart Housing Development Fund Company Inc
Is Goodheart Housing Development Fund Company Inc a legitimate charity?
Goodheart Housing Development Fund Company Inc (EIN: 133171445) 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: $2.3M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Goodheart Housing Development Fund Company Inc spend its money?
Goodheart Housing Development Fund Company Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Goodheart Housing Development Fund Company Inc tax-deductible?
Goodheart Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133171445). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Goodheart Housing Development Fund Company Inc CEO make?
Goodheart Housing Development Fund Company Inc's highest-compensated officer earns $1.7 annually. The organization reported $2.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Goodheart Housing Development Fund Company Inc's spending goes to programs?
Goodheart Housing Development Fund Company Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Goodheart Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Goodheart Housing Development Fund Company Inc is above average for NTEE category L21Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Goodheart Housing Development Fund Company Inc located?
Goodheart Housing Development Fund Company Inc is headquartered in Brookly, New York and files with the IRS under EIN 133171445. It is classified under NTEE code L21Z.
How many years of IRS 990 filings does Goodheart Housing Development Fund Company Inc have?
Goodheart 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 $2.3M in total revenue.
Is Goodheart Housing Development Fund Company Inc a good charity?
Based on its financial data, Goodheart Housing Development Fund Company Inc appears to be a very good charity. It demonstrates strong financial health with growing revenues and assets, decreasing liabilities, and a high percentage (85%) of expenses dedicated to program services. The consistent reporting of 0% officer compensation is also a significant positive indicator of its commitment to its mission.
How has the organization's financial stability changed over time?
The organization's financial stability has significantly improved. Assets have grown from $1,111,020 in 2020 to $2,700,420 in 2024, while liabilities have decreased from $1,954,066 to $1,022,155 over the same period, indicating a stronger balance sheet and reduced financial risk.
What is the trend in the organization's revenue and expenses?
Goodheart Housing Development Fund Company Inc has shown a positive trend in revenue, increasing from $1,578,364 in 2020 to $1,750,603 in 2024. Expenses have also increased but at a slower rate, moving from $1,130,513 in 2020 to $1,034,018 in 2024 (note: 2024 expenses are lower than 2020, indicating improved efficiency relative to revenue growth).
Filing History
IRS 990 filing history for Goodheart Housing Development Fund Company Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Goodheart Housing Development Fund Company Inc's revenue has grown by 97.8%, moving from $885K to $1.8M. Total assets increased by 146% over the same period, from $1.1M to $2.7M. Total functional expenses rose by 18.1%, from $875K to $1.0M. In its most recent filing year (2024), Goodheart Housing Development Fund Company Inc reported a surplus of $717K, with revenue exceeding expenses. The organization holds $1.0M in liabilities against $2.7M in assets (debt-to-asset ratio: 37.9%), resulting in net assets of $1.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.8M | $1.0M | $2.7M | $1.0M | — | View 990 |
| 2023 | $1.7M | $987K | $2.3M | $1.3M | — | View 990 |
| 2022 | $1.6M | $1.0M | $1.8M | $1.6M | — | View 990 |
| 2021 | $1.6M | $1.0M | $1.4M | $1.7M | — | View 990 |
| 2020 | $1.6M | $1.1M | $1.1M | $2.0M | — | View 990 |
| 2019 | $1.4M | $941K | $867K | $2.2M | — | View 990 |
| 2018 | $1.1M | $815K | $683K | $2.4M | — | View 990 |
| 2017 | $973K | $865K | $523K | $2.5M | — | View 990 |
| 2016 | $962K | $839K | $593K | $2.7M | — | View 990 |
| 2015 | $951K | $958K | $533K | $2.8M | — | View 990 |
| 2014 | $942K | $968K | $620K | $2.9M | — | View 990 |
| 2013 | $921K | $955K | $775K | $3.0M | — | View 990 |
| 2012 | $918K | $958K | $961K | $3.1M | — | View 990 |
| 2011 | $885K | $875K | $1.1M | $3.2M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.8M, expenses of $1.0M, and assets of $2.7M (revenue +5.4% year-over-year).
- 2023: Revenue of $1.7M, expenses of $987K, and assets of $2.3M (revenue +2.0% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.0M, and assets of $1.8M (revenue +2.3% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.0M, and assets of $1.4M (revenue +0.8% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.1M, and assets of $1.1M (revenue +13.0% year-over-year).
- 2019: Revenue of $1.4M, expenses of $941K, and assets of $867K (revenue +26.9% year-over-year).
- 2018: Revenue of $1.1M, expenses of $815K, and assets of $683K (revenue +13.1% year-over-year).
- 2017: Revenue of $973K, expenses of $865K, and assets of $523K (revenue +1.2% year-over-year).
- 2016: Revenue of $962K, expenses of $839K, and assets of $593K (revenue +1.1% year-over-year).
- 2015: Revenue of $951K, expenses of $958K, and assets of $533K (revenue +1.0% year-over-year).
- 2014: Revenue of $942K, expenses of $968K, and assets of $620K (revenue +2.3% year-over-year).
- 2013: Revenue of $921K, expenses of $955K, and assets of $775K (revenue +0.3% year-over-year).
- 2012: Revenue of $918K, expenses of $958K, and assets of $961K (revenue +3.8% year-over-year).
- 2011: Revenue of $885K, expenses of $875K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodheart Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Goodheart 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.