Greenwood Residences Inc
Greenwood Residences Inc consistently generates surpluses and has zero reported officer compensation.
EIN: 161345198 · Getzville, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.6 |
| Net Assets | $2.8M |
| Transparency Score | 92/100 |
Is Greenwood Residences Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greenwood Residences Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greenwood Residences Inc
Greenwood Residences Inc (EIN: 161345198) is a nonprofit organization based in Getzville, NY. The organization reported total revenue of $1.7M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greenwood Residences Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greenwood Residences Inc is a mid-size nonprofit that has been operating for 35 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 4.1%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$507K |
| Total Assets | $2.9M |
| Total Liabilities | $83K |
| Net Assets | $2.8M |
| Operating Margin | 30.3% |
| Debt-to-Asset Ratio | 2.9% |
| Months of Reserves | 30.1 months |
Financial Health Grade: A
In 2021, Greenwood Residences Inc reported a surplus of $507K with revenue exceeding expenses, holds 30.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.9% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2021), Greenwood Residences Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +53.4% | +0.9% | +7.8% |
| 2020 | -12.4% | +3.3% | +3.8% |
| 2019 | -1.5% | +0.7% | -0.6% |
| 2018 | +4.6% | +5.3% | +2.7% |
| 2017 | +1.0% | +1.8% | -5.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Greenwood Residences 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, Greenwood Residences 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 (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $507K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.9%.
Executive Compensation Analysis
Greenwood Residences Inc has consistently reported 0% officer compensation across all 11 available IRS 990 filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly unusual for an organization with over $1.6 million in annual revenue and suggests a volunteer-led executive 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 Greenwood Residences Inc's IRS 990 filings:
- NTEE code is unknown, which can make it harder to benchmark against similar organizations.
Strengths
The following positive indicators were identified for Greenwood Residences Inc:
- Consistent financial surpluses, with 2021 revenue exceeding expenses by over $500,000.
- Zero reported officer compensation across all 11 filings, indicating high efficiency in executive pay.
- Significant reduction in liabilities over the past decade, from $1,074,934 in 2012 to $83,431 in 2021.
- Consistent asset growth, increasing from $2,296,859 in 2012 to $2,923,024 in 2021.
- Long history of consistent IRS 990 filings (11 filings), demonstrating good transparency.
Frequently Asked Questions about Greenwood Residences Inc
Is Greenwood Residences Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Greenwood Residences Inc (EIN: 161345198) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Greenwood Residences Inc spend its money?
Greenwood Residences Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Greenwood Residences Inc tax-deductible?
Greenwood Residences Inc is registered as a tax-exempt nonprofit (EIN: 161345198). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Greenwood Residences Inc CEO make?
Greenwood Residences Inc's highest-compensated officer earns $1.6 annually. The organization reported $1.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Greenwood Residences Inc's spending goes to programs?
Greenwood Residences Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Greenwood Residences Inc located?
Greenwood Residences Inc is headquartered in Getzville, New York and files with the IRS under EIN 161345198.
How many years of IRS 990 filings does Greenwood Residences Inc have?
Greenwood Residences Inc 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 $1.7M in total revenue.
Is Greenwood Residences Inc financially stable?
Yes, Greenwood Residences Inc appears financially stable. Its assets have grown from $2,296,859 in 2012 to $2,923,024 in 2021, and liabilities have significantly decreased from $1,074,934 to $83,431 over the same period. The organization also consistently generates surpluses, with 2021 revenue of $1,673,678 exceeding expenses of $1,166,696.
How does Greenwood Residences Inc manage executive compensation?
Greenwood Residences Inc has reported 0% officer compensation in all 11 available IRS 990 filings, indicating that no compensation was paid to its officers, directors, trustees, or key employees.
What is the trend in the organization's revenue and expenses?
Revenue has shown a positive trend, increasing from $1,143,781 in 2012 to $1,673,678 in 2021. Expenses have also increased but at a slower rate, leading to consistent surpluses, such as the $506,982 surplus in 2021 ($1,673,678 revenue - $1,166,696 expenses).
Filing History
IRS 990 filing history for Greenwood Residences Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Greenwood Residences Inc's revenue has grown by 49.3%, moving from $1.1M to $1.7M. Total assets increased by 31.6% over the same period, from $2.2M to $2.9M. Total functional expenses rose by 26.9%, from $920K to $1.2M. In its most recent filing year (2021), Greenwood Residences Inc reported a surplus of $507K, with revenue exceeding expenses. The organization holds $83K in liabilities against $2.9M in assets (debt-to-asset ratio: 2.9%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $1.7M | $1.2M | $2.9M | $83K | — | — |
| 2020 | $1.1M | $1.2M | $2.7M | $379K | — | — |
| 2019 | $1.2M | $1.1M | $2.6M | $215K | — | — |
| 2018 | $1.3M | $1.1M | $2.6M | $357K | — | View 990 |
| 2017 | $1.2M | $1.1M | $2.6M | $442K | — | View 990 |
| 2016 | $1.2M | $1.0M | $2.7M | $732K | — | View 990 |
| 2015 | $1.3M | $1.1M | $2.5M | $718K | — | View 990 |
| 2014 | $1.2M | $1.0M | $2.4M | $857K | — | View 990 |
| 2013 | $1.2M | $967K | $2.4M | $986K | — | View 990 |
| 2012 | $1.1M | $947K | $2.3M | $1.1M | — | View 990 |
| 2011 | $1.1M | $920K | $2.2M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $1.7M, expenses of $1.2M, and assets of $2.9M (revenue +53.4% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.2M, and assets of $2.7M (revenue -12.4% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.1M, and assets of $2.6M (revenue -1.5% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.1M, and assets of $2.6M (revenue +4.6% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.1M, and assets of $2.6M (revenue +1.0% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.0M, and assets of $2.7M (revenue -6.3% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.1M, and assets of $2.5M (revenue +9.4% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.0M, and assets of $2.4M (revenue +0.1% year-over-year).
- 2013: Revenue of $1.2M, expenses of $967K, and assets of $2.4M (revenue +2.1% year-over-year).
- 2012: Revenue of $1.1M, expenses of $947K, and assets of $2.3M (revenue +2.0% year-over-year).
- 2011: Revenue of $1.1M, expenses of $920K, and assets of $2.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greenwood Residences Inc:
Data Sources and Methodology
This transparency report for Greenwood Residences 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.