Goodwin House Development Corporation
Goodwin House Development Corporation consistently grows assets with zero liabilities and no officer compensation, despite fluctuating revenues.
EIN: 20595161 · Alexandria, VA · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $282K |
| Total Expenses | $278K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $38 |
| Net Assets | $35.3M |
| Transparency Score | 85/100 |
Is Goodwin House Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodwin House Development Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Goodwin House Development Corporation
Goodwin House Development Corporation (EIN: 20595161) is a nonprofit organization based in Alexandria, VA, classified under NTEE code L22. The organization reported total revenue of $282K and total assets of $38.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodwin House Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodwin House Development Corporation is a small nonprofit that has been operating for 12 years, with 11 years of IRS 990 filings on record (2013–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $266K |
| Total Expenses | $278K |
| Surplus / Deficit | $-12,044 |
| Total Assets | $35.3M |
| Net Assets | $35.3M |
| Operating Margin | -4.5% |
| Months of Reserves | 1522.4 months |
Financial Health Grade: B
In 2023, Goodwin House Development Corporation reported a deficit of $12K with expenses exceeding revenue, holds 1522.4 months of operating reserves (strong position).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.0% | -48.3% | +6.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
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 Goodwin House Development Corporation with a Mission Score of 85 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, Goodwin House Development Corporation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $12K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that no officers receive compensation from the organization, which is highly unusual for an entity managing over $38 million in assets and suggests a volunteer-led or externally compensated leadership structure.
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 Goodwin House Development Corporation's IRS 990 filings:
- Highly inconsistent and sometimes negative revenue streams, making financial forecasting challenging.
- Lack of detailed expense breakdown in provided data makes it difficult to fully assess program vs. administrative spending efficiency.
- Significant fluctuations in annual expenses without clear correlation to revenue or asset growth in some periods (e.g., $537,878 expenses in 202209 with $209,516 revenue).
Strengths
The following positive indicators were identified for Goodwin House Development Corporation:
- Consistent and substantial asset growth, from $4.46 million in 201409 to $38.06 million currently.
- Zero reported liabilities across all 11 filings, indicating strong financial solvency and no debt burden.
- 0% officer compensation reported, demonstrating a commitment to minimizing executive overhead.
- Long filing history (11 filings) indicates sustained operation and compliance.
Frequently Asked Questions about Goodwin House Development Corporation
Is Goodwin House Development Corporation a legitimate charity?
Goodwin House Development Corporation (EIN: 20595161) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 85/100. It has 11 years of IRS 990 filings on record. Total revenue: $282K. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Goodwin House Development Corporation spend its money?
Goodwin House Development Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Goodwin House Development Corporation tax-deductible?
Goodwin House Development Corporation is registered as a tax-exempt nonprofit (EIN: 20595161). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Goodwin House Development Corporation CEO make?
Goodwin House Development Corporation's highest-compensated officer earns $38 annually. The organization reported $282K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Goodwin House Development Corporation's spending goes to programs?
Goodwin House Development Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Goodwin House Development Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Goodwin House Development Corporation is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Goodwin House Development Corporation located?
Goodwin House Development Corporation is headquartered in Alexandria, Virginia and files with the IRS under EIN 20595161. It is classified under NTEE code L22.
How many years of IRS 990 filings does Goodwin House Development Corporation have?
Goodwin House Development Corporation has 11 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 $282K in total revenue.
What are the primary sources of Goodwin House Development Corporation's revenue, given the inconsistency and periods of zero or negative revenue?
The provided data shows highly inconsistent revenue, with several years at $0 or even negative revenue (e.g., -$79,123 in 202109). The latest revenue is $281,851. This suggests revenue may come from infrequent, large transactions like property sales, grants, or capital contributions rather than consistent operational income.
How does Goodwin House Development Corporation fund its operations and asset growth with such volatile revenue?
Despite volatile revenue, the organization's assets have grown significantly from $4.46 million in 201409 to $38.06 million currently. This growth, coupled with zero liabilities, suggests funding may come from capital campaigns, investment returns on existing assets, or contributions from related entities, rather than solely from reported annual revenue.
What specific activities or projects constitute the 'development' aspect of Goodwin House Development Corporation's mission?
Given the NTEE code L22 (Housing Development, Construction & Management) and the consistent asset growth, the organization likely engages in acquiring, developing, or managing properties, possibly for senior living facilities or affordable housing, aligning with the broader Goodwin House mission.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all 11 filings is highly unusual for an organization with significant assets. This could indicate that officers are volunteers, compensated by a related parent organization, or that the compensation is structured in a way not reported as 'officer compensation' on the 990.
Filing History
IRS 990 filing history for Goodwin House Development Corporation showing financial trends over 11 years of public records:
Total assets increased by 2409.7% over the same period, from $1.4M to $35.3M. Total functional expenses rose by 253.7%, from $79K to $278K. In its most recent filing year (2023), Goodwin House Development Corporation reported a deficit of $12K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $266K | $278K | $35.3M | $0 | — | — |
| 2022 | $210K | $538K | $33.2M | $0 | — | — |
| 2021 | $-79,123 | $51K | $26.0M | $0 | — | View 990 |
| 2020 | $0 | $30K | $24.0M | $0 | — | — |
| 2019 | $0 | $131K | $22.1M | $0 | — | View 990 |
| 2018 | $0 | $51K | $20.2M | $0 | — | View 990 |
| 2017 | $0 | $9K | $16.2M | $0 | — | View 990 |
| 2016 | $0 | $228K | $16.2M | $0 | — | View 990 |
| 2015 | $4K | $6K | $6.3M | $0 | — | View 990 |
| 2014 | $0 | $264K | $4.5M | $0 | — | View 990 |
| 2013 | $0 | $79K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $266K, expenses of $278K, and assets of $35.3M (revenue +27.0% year-over-year).
- 2022: Revenue of $210K, expenses of $538K, and assets of $33.2M.
- 2021: Revenue of $-79,123, expenses of $51K, and assets of $26.0M.
- 2020: Revenue of $0, expenses of $30K, and assets of $24.0M.
- 2019: Revenue of $0, expenses of $131K, and assets of $22.1M.
- 2018: Revenue of $0, expenses of $51K, and assets of $20.2M.
- 2017: Revenue of $0, expenses of $9K, and assets of $16.2M.
- 2016: Revenue of $0, expenses of $228K, and assets of $16.2M (revenue -100.0% year-over-year).
- 2015: Revenue of $4K, expenses of $6K, and assets of $6.3M.
- 2014: Revenue of $0, expenses of $264K, and assets of $4.5M.
- 2013: Revenue of $0, expenses of $79K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodwin House Development Corporation:
Data Sources and Methodology
This transparency report for Goodwin House Development Corporation 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.