Hannah Gray Development Corporation
Hannah Gray Development Corp: Consistent Revenue, Declining Assets
EIN: 223011882 · New Haven, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $694K |
| Total Expenses | $605K |
| Program Spending | 75% |
| Net Assets | $651K |
| Transparency Score | 65/100 |
Is Hannah Gray Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hannah Gray Development Corporation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hannah Gray Development Corporation
Hannah Gray Development Corporation (EIN: 223011882) is a nonprofit organization based in New Haven, CT. The organization reported total revenue of $694K and total assets of $905K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hannah Gray Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hannah Gray Development Corporation is a small nonprofit that has been operating for 36 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $471K |
| Total Expenses | $605K |
| Surplus / Deficit | $-134,262 |
| Total Assets | $966K |
| Total Liabilities | $315K |
| Net Assets | $651K |
| Operating Margin | -28.5% |
| Debt-to-Asset Ratio | 32.6% |
| Months of Reserves | 19.2 months |
Financial Health Grade: B
In 2023, Hannah Gray Development Corporation reported a deficit of $134K with expenses exceeding revenue, holds 19.2 months of operating reserves (strong position), has a debt-to-asset ratio of 32.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hannah Gray Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.0% | +10.4% | -4.3% |
| 2022 | +0.1% | +0.6% | -5.9% |
| 2021 | -6.8% | -4.1% | -8.2% |
| 2020 | +3.8% | +3.3% | -2.1% |
| 2019 | +1.5% | +1.8% | -1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Hannah Gray Development Corporation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Hannah Gray Development Corporation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $134K, with expenses exceeding revenue.
- Debt-to-asset ratio: 32.6%.
Executive Compensation Analysis
The provided data consistently shows 'c0%' for compensation, indicating no reported compensation for officers, directors, trustees, and key employees across all years, which is unusual for an organization with significant assets and expenses.
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 Hannah Gray Development Corporation's IRS 990 filings:
- Consistent 'c0%' for compensation of officers, directors, trustees, and key employees across all years (2016-2023) raises questions about how leadership is compensated or if this field is misreported.
- Total assets have steadily declined from $2,601,613 in 2016 to $905,153 in 2023, a significant decrease of over 65%.
- Expenses consistently exceed revenue in most years (e.g., 2023: revenue $471,105 vs. expenses $605,367), leading to a reduction in net assets.
Strengths
The following positive indicators were identified for Hannah Gray Development Corporation:
- Consistent revenue generation, averaging around $480,000-$500,000 annually over the past eight years.
- Maintains a positive asset base, though it has been declining.
- Regularly files financial reports, demonstrating a commitment to basic regulatory compliance.
Frequently Asked Questions about Hannah Gray Development Corporation
Is Hannah Gray Development Corporation a legitimate charity?
Hannah Gray Development Corporation (EIN: 223011882) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $694K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Hannah Gray Development Corporation spend its money?
Hannah Gray Development Corporation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Hannah Gray Development Corporation tax-deductible?
Hannah Gray Development Corporation is registered as a tax-exempt nonprofit (EIN: 223011882). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hannah Gray Development Corporation's spending goes to programs?
Hannah Gray Development Corporation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Hannah Gray Development Corporation located?
Hannah Gray Development Corporation is headquartered in New Haven, Connecticut and files with the IRS under EIN 223011882.
How many years of IRS 990 filings does Hannah Gray Development Corporation have?
Hannah Gray Development Corporation has 13 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 $694K in total revenue.
What does Hannah Gray Development Corporation do?
Hannah Gray Development Corporation is a nonprofit organization in the Unknown sector, located in New Haven, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Hannah Gray Development Corporation have?
Hannah Gray Development Corporation reported total revenue of $693,541. Based on 13 IRS 990 filings on record.
What are Hannah Gray Development Corporation's total assets?
Hannah Gray Development Corporation holds total assets of $905,153 as reported in IRS 990 filings.
Where is Hannah Gray Development Corporation located?
Hannah Gray Development Corporation is based in New Haven, Connecticut.
What is Hannah Gray Development Corporation's EIN?
Hannah Gray Development Corporation's Employer Identification Number (EIN) is 223011882. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Hannah Gray Development Corporation?
Hannah Gray Development Corporation is classified under NTEE code Unknown (Unknown).
Is Hannah Gray Development Corporation a registered 501(c)(3)?
Hannah Gray Development Corporation appears in IRS records (EIN: 223011882). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Hannah Gray Development Corporation file IRS Form 990?
Yes, Hannah Gray Development Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Hannah Gray Development Corporation's revenue in 2023?
In the 202306 filing period, Hannah Gray Development Corporation reported total revenue of $471,105, total expenses of $605,367, and net assets of $966,279.
Is Hannah Gray Development Corporation's revenue growing or declining?
Hannah Gray Development Corporation's revenue is relatively stable. Revenue went from $475,786 (202206) to $471,105 (202306), a -1.0% change. Based on 13 filings on record.
What is Hannah Gray Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Hannah Gray Development Corporation covers tax period 202306. It shows revenue of $471,105, expenses of $605,367, total assets of $966,279, and liabilities of $315,052.
How much does Hannah Gray Development Corporation spend on programs vs administration?
Based on IRS 990 analysis, Hannah Gray Development Corporation allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Hannah Gray Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Hannah Gray Development Corporation shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Hannah Gray Development Corporation?
The following concerns were identified: Consistent 'c0%' for compensation of officers, directors, trustees, and key employees across all years (2016-2023) raises questions about how leadership is compensated or if this field is misreported.. Total assets have steadily declined from $2,601,613 in 2016 to $905,153 in 2023, a significant decrease of over 65%.. Expenses consistently exceed revenue in most years (e.g., 2023: revenue $471,105 vs. expenses $605,367), leading to a reduction in net assets.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Hannah Gray Development Corporation's strengths?
Positive indicators for Hannah Gray Development Corporation include: Consistent revenue generation, averaging around $480,000-$500,000 annually over the past eight years.. Maintains a positive asset base, though it has been declining.. Regularly files financial reports, demonstrating a commitment to basic regulatory compliance.. These findings are derived from AI analysis of the organization's financial filings.
How does Hannah Gray Development Corporation compensate executives?
The provided data consistently shows 'c0%' for compensation, indicating no reported compensation for officers, directors, trustees, and key employees across all years, which is unusual for an organization with significant assets and expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Hannah Gray Development Corporation?
• No specific transparency report or detailed program breakdowns were found in the provided data. • The organization consistently reports 0% compensation to officers, directors, trustees, and key employees, which warrants further investigation. • Financial filings are consistently submitted, indicating basic compliance. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent 'c0%' compensation reported for key personnel, how does Hannah Gray Development Corporation attract and retain leadership, and what is the actual mechanism for compensating its executive team?
The consistent reporting of 'c0%' for compensation of officers, directors, trustees, and key employees across all available filings (2016-2023) is highly unusual. This could indicate that leadership is entirely volunteer-based, compensated through a related entity not reflected in these specific filings, or that the reporting method for compensation is incomplete or inaccurate. Further investigation into their Form 990s, specifically Part VII, Section A, would be necessary to understand the true compensation structure.
What factors are contributing to the significant and consistent decline in total assets from $2,601,613 in 2016 to $905,153 in 2023, and what is the organization's strategy to reverse this trend?
The data shows that expenses have consistently exceeded revenue in most years, leading to a net loss that draws down the asset base. For example, in 2023, revenue was $471,105 while expenses were $605,367. This pattern, repeated over several years, directly contributes to the asset decline. Without more detailed financial statements, it's difficult to pinpoint specific expense categories, but a strategy to either increase revenue significantly or reduce operational expenses would be crucial to stabilize and grow assets.
Filing History
IRS 990 filing history for Hannah Gray Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hannah Gray Development Corporation's revenue has grown by 12.1%, moving from $420K to $471K. Total assets decreased by 61.7% over the same period, from $2.5M to $966K. Total functional expenses rose by 45.7%, from $415K to $605K. In its most recent filing year (2023), Hannah Gray Development Corporation reported a deficit of $134K, with expenses exceeding revenue. The organization holds $315K in liabilities against $966K in assets (debt-to-asset ratio: 32.6%), resulting in net assets of $651K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $471K | $605K | $966K | $315K | — | — |
| 2022 | $476K | $548K | $1.0M | $220K | — | View 990 |
| 2021 | $475K | $545K | $1.1M | $201K | — | — |
| 2020 | $510K | $568K | $1.2M | $218K | — | View 990 |
| 2019 | $491K | $550K | $1.2M | $185K | — | View 990 |
| 2018 | $484K | $541K | $1.2M | $141K | — | View 990 |
| 2017 | $490K | $517K | $2.5M | $143K | — | View 990 |
| 2016 | $481K | $477K | $2.6M | $222K | — | View 990 |
| 2015 | $447K | $500K | $2.5M | $132K | — | View 990 |
| 2014 | $434K | $440K | $2.5M | $138K | — | View 990 |
| 2013 | $416K | $442K | $2.5M | $131K | — | View 990 |
| 2012 | $428K | $466K | $2.5M | $119K | — | View 990 |
| 2011 | $420K | $415K | $2.5M | $79K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $471K, expenses of $605K, and assets of $966K (revenue -1.0% year-over-year).
- 2022: Revenue of $476K, expenses of $548K, and assets of $1.0M (revenue +0.1% year-over-year).
- 2021: Revenue of $475K, expenses of $545K, and assets of $1.1M (revenue -6.8% year-over-year).
- 2020: Revenue of $510K, expenses of $568K, and assets of $1.2M (revenue +3.8% year-over-year).
- 2019: Revenue of $491K, expenses of $550K, and assets of $1.2M (revenue +1.5% year-over-year).
- 2018: Revenue of $484K, expenses of $541K, and assets of $1.2M (revenue -1.3% year-over-year).
- 2017: Revenue of $490K, expenses of $517K, and assets of $2.5M (revenue +2.0% year-over-year).
- 2016: Revenue of $481K, expenses of $477K, and assets of $2.6M (revenue +7.6% year-over-year).
- 2015: Revenue of $447K, expenses of $500K, and assets of $2.5M (revenue +2.9% year-over-year).
- 2014: Revenue of $434K, expenses of $440K, and assets of $2.5M (revenue +4.4% year-over-year).
- 2013: Revenue of $416K, expenses of $442K, and assets of $2.5M (revenue -2.9% year-over-year).
- 2012: Revenue of $428K, expenses of $466K, and assets of $2.5M (revenue +1.9% year-over-year).
- 2011: Revenue of $420K, expenses of $415K, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hannah Gray Development Corporation:
Data Sources and Methodology
This transparency report for Hannah Gray 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.