Hammond Development Corporation
EIN: 351581423 · Hammond, IN · NTEE: S21
Is Hammond Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hammond Development Corporation
Hammond Development Corporation (EIN: 351581423) is a nonprofit organization based in Hammond, IN, classified under NTEE code S21. The organization reported total revenue of $1.0M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hammond Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hammond Development Corporation is a mid-size nonprofit that has been operating for 28 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 5.3%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $2.1M |
| Surplus / Deficit | $-1,050,525 |
| Total Assets | $1.7M |
| Total Liabilities | $192K |
| Net Assets | $1.5M |
| Operating Margin | -101.8% |
| Debt-to-Asset Ratio | 11.2% |
| Months of Reserves | 9.9 months |
Financial Health Grade: B
In 2021, Hammond Development Corporation reported a deficit of $1.1M with expenses exceeding revenue, holds 9.9 months of operating reserves (strong position), has a debt-to-asset ratio of 11.2% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2021), Hammond Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 5.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -33.4% | +281.7% | -39.5% |
| 2020 | -1.4% | -73.5% | +2.3% |
| 2019 | -8.1% | +45.1% | -16.7% |
| 2018 | +262.5% | +180.7% | +4.0% |
| 2017 | -7.3% | -21.2% | +11.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hammond Development Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hammond Development Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.2%.
Frequently Asked Questions about Hammond Development Corporation
Is Hammond Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hammond Development Corporation (EIN: 351581423) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hammond Development Corporation spend its money?
Detailed spending breakdown data is not yet available for Hammond Development Corporation. Check back for updated IRS 990 analysis.
Are donations to Hammond Development Corporation tax-deductible?
Hammond Development Corporation is registered as a tax-exempt nonprofit (EIN: 351581423). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Hammond Development Corporation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Hammond Development Corporation's revenue has grown by 67.1%, moving from $618K to $1.0M. Total assets decreased by 44.3% over the same period, from $3.1M to $1.7M. Total functional expenses rose by 142.7%, from $858K to $2.1M. In its most recent filing year (2021), Hammond Development Corporation reported a deficit of $1.1M, with expenses exceeding revenue. The organization holds $192K in liabilities against $1.7M in assets (debt-to-asset ratio: 11.2%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $1.0M | $2.1M | $1.7M | $192K | — | View 990 |
| 2020 | $1.5M | $546K | $2.8M | $225K | — | View 990 |
| 2019 | $1.6M | $2.1M | $2.8M | $492K | — | View 990 |
| 2018 | $1.7M | $1.4M | $3.3M | $556K | — | View 990 |
| 2017 | $471K | $506K | $3.2M | $681K | — | View 990 |
| 2016 | $509K | $642K | $2.9M | $314K | — | View 990 |
| 2015 | $579K | $602K | $3.1M | $284K | — | View 990 |
| 2014 | $506K | $563K | $3.0M | $267K | — | View 990 |
| 2013 | $1.0M | $555K | $2.8M | $18K | — | View 990 |
| 2012 | $469K | $1.0M | $2.3M | $28K | — | View 990 |
| 2011 | $618K | $858K | $3.1M | $269K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $1.0M, expenses of $2.1M, and assets of $1.7M (revenue -33.4% year-over-year).
- 2020: Revenue of $1.5M, expenses of $546K, and assets of $2.8M (revenue -1.4% year-over-year).
- 2019: Revenue of $1.6M, expenses of $2.1M, and assets of $2.8M (revenue -8.1% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.4M, and assets of $3.3M (revenue +262.5% year-over-year).
- 2017: Revenue of $471K, expenses of $506K, and assets of $3.2M (revenue -7.3% year-over-year).
- 2016: Revenue of $509K, expenses of $642K, and assets of $2.9M (revenue -12.2% year-over-year).
- 2015: Revenue of $579K, expenses of $602K, and assets of $3.1M (revenue +14.5% year-over-year).
- 2014: Revenue of $506K, expenses of $563K, and assets of $3.0M (revenue -51.0% year-over-year).
- 2013: Revenue of $1.0M, expenses of $555K, and assets of $2.8M (revenue +120.1% year-over-year).
- 2012: Revenue of $469K, expenses of $1.0M, and assets of $2.3M (revenue -24.1% year-over-year).
- 2011: Revenue of $618K, expenses of $858K, and assets of $3.1M.
Data Sources and Methodology
This transparency report for Hammond 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.