Havenwoods Economic Developement Corp
Havenwoods Economic Development Corp faces recent deficit after period of growth, with no reported officer compensation.
EIN: 20590061 · Milwaukee, WI · NTEE: S31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $641K |
| Total Expenses | $502K |
| Program Spending | 80% |
| Net Assets | $175K |
| Transparency Score | 75/100 |
Is Havenwoods Economic Developement Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Havenwoods Economic Developement Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Havenwoods Economic Developement Corp
Havenwoods Economic Developement Corp (EIN: 20590061) is a nonprofit organization based in Milwaukee, WI, classified under NTEE code S31. The organization reported total revenue of $641K and total assets of $276K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Havenwoods Economic Developement Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Havenwoods Economic Developement Corp is a small nonprofit that has been operating for 24 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $350K |
| Total Expenses | $502K |
| Surplus / Deficit | $-152,219 |
| Total Assets | $194K |
| Total Liabilities | $19K |
| Net Assets | $175K |
| Operating Margin | -43.5% |
| Debt-to-Asset Ratio | 10.0% |
| Months of Reserves | 4.6 months |
Financial Health Grade: B
In 2023, Havenwoods Economic Developement Corp reported a deficit of $152K with expenses exceeding revenue, holds 4.6 months of operating reserves (adequate), has a debt-to-asset ratio of 10.0% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Havenwoods Economic Developement Corp's revenue has grown at a compound annual growth rate (CAGR) of 4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -29.1% | +42.8% | -44.5% |
| 2022 | +3.2% | +2.2% | +64.2% |
| 2021 | +54.0% | +16.2% | +260.7% |
| 2020 | -1.4% | +6.9% | +23.0% |
| 2019 | +12.0% | +0.2% | +79.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Havenwoods Economic Developement Corp with a Mission Score of 75 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: 80%
- fundraising: 5%
According to IRS 990 filings, Havenwoods Economic Developement Corp allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $152K, with expenses exceeding revenue.
- Debt-to-asset ratio: 10.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all provided filings, suggesting that executive leadership is either unpaid or compensated through mechanisms not classified as officer compensation, which is highly efficient for an organization of its size.
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 Havenwoods Economic Developement Corp's IRS 990 filings:
- Significant deficit in the most recent fiscal period (202312), with expenses exceeding revenue by over $150,000.
- Substantial decrease in assets from $349,999 in 2022 to $194,134 in 2023, potentially indicating liquidity strain.
Strengths
The following positive indicators were identified for Havenwoods Economic Developement Corp:
- Consistent reporting of 0% officer compensation, indicating highly efficient use of funds for leadership.
- Long history of IRS 990 filings (14 periods), demonstrating commitment to transparency.
- Demonstrated ability to grow revenue and assets in prior years (e.g., 2020-2022).
Frequently Asked Questions about Havenwoods Economic Developement Corp
Is Havenwoods Economic Developement Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Havenwoods Economic Developement Corp (EIN: 20590061) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Havenwoods Economic Developement Corp spend its money?
Havenwoods Economic Developement Corp directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Havenwoods Economic Developement Corp tax-deductible?
Havenwoods Economic Developement Corp is registered as a tax-exempt nonprofit (EIN: 20590061). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Havenwoods Economic Developement Corp's spending goes to programs?
Havenwoods Economic Developement Corp directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Havenwoods Economic Developement Corp compare to similar nonprofits?
With a transparency score of 75/100 (Good), Havenwoods Economic Developement Corp is above average for NTEE category S31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Havenwoods Economic Developement Corp located?
Havenwoods Economic Developement Corp is headquartered in Milwaukee, Wisconsin and files with the IRS under EIN 20590061. It is classified under NTEE code S31.
How many years of IRS 990 filings does Havenwoods Economic Developement Corp have?
Havenwoods Economic Developement Corp 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 $641K in total revenue.
Why did expenses significantly exceed revenue in the 2023 fiscal period?
In the 202312 period, expenses were $501,760 while revenue was $349,541, resulting in a deficit of over $150,000. This contrasts with the surplus in 202212 where revenue ($493,281) exceeded expenses ($351,441).
What caused the decrease in assets from $349,999 in 2022 to $194,134 in 2023?
The significant drop in assets in 2023, following the substantial deficit, suggests that the organization may have used its reserves or sold assets to cover operational costs.
How does the organization sustain operations without reported officer compensation?
The consistent 0% officer compensation across all filings indicates that leadership may be volunteer-based or compensated through other means, which is a highly efficient use of funds for a nonprofit.
Filing History
IRS 990 filing history for Havenwoods Economic Developement Corp showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Havenwoods Economic Developement Corp's revenue has grown by 87%, moving from $187K to $350K. Total assets increased by 131.3% over the same period, from $84K to $194K. Total functional expenses rose by 129.8%, from $218K to $502K. In its most recent filing year (2023), Havenwoods Economic Developement Corp reported a deficit of $152K, with expenses exceeding revenue. The organization holds $19K in liabilities against $194K in assets (debt-to-asset ratio: 10.0%), resulting in net assets of $175K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $350K | $502K | $194K | $19K | — | — |
| 2022 | $493K | $351K | $350K | $23K | — | View 990 |
| 2021 | $478K | $344K | $213K | $28K | — | View 990 |
| 2020 | $310K | $296K | $59K | $8K | — | View 990 |
| 2019 | $315K | $277K | $48K | $11K | — | View 990 |
| 2018 | $281K | $276K | $27K | $28K | — | View 990 |
| 2017 | $221K | $259K | $32K | $38K | — | View 990 |
| 2016 | $330K | $261K | $106K | $73K | — | View 990 |
| 2015 | $225K | $246K | $26K | $63K | — | View 990 |
| 2014 | $238K | $226K | $33K | $44K | — | View 990 |
| 2013 | $196K | $215K | $19K | $56K | — | View 990 |
| 2012 | $198K | $195K | $42K | $49K | — | View 990 |
| 2011 | $186K | $196K | $24K | $41K | — | View 990 |
| 2010 | $187K | $218K | $84K | $100K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $350K, expenses of $502K, and assets of $194K (revenue -29.1% year-over-year).
- 2022: Revenue of $493K, expenses of $351K, and assets of $350K (revenue +3.2% year-over-year).
- 2021: Revenue of $478K, expenses of $344K, and assets of $213K (revenue +54.0% year-over-year).
- 2020: Revenue of $310K, expenses of $296K, and assets of $59K (revenue -1.4% year-over-year).
- 2019: Revenue of $315K, expenses of $277K, and assets of $48K (revenue +12.0% year-over-year).
- 2018: Revenue of $281K, expenses of $276K, and assets of $27K (revenue +27.1% year-over-year).
- 2017: Revenue of $221K, expenses of $259K, and assets of $32K (revenue -33.0% year-over-year).
- 2016: Revenue of $330K, expenses of $261K, and assets of $106K (revenue +46.7% year-over-year).
- 2015: Revenue of $225K, expenses of $246K, and assets of $26K (revenue -5.5% year-over-year).
- 2014: Revenue of $238K, expenses of $226K, and assets of $33K (revenue +21.3% year-over-year).
- 2013: Revenue of $196K, expenses of $215K, and assets of $19K (revenue -0.7% year-over-year).
- 2012: Revenue of $198K, expenses of $195K, and assets of $42K (revenue +6.4% year-over-year).
- 2011: Revenue of $186K, expenses of $196K, and assets of $24K (revenue -0.6% year-over-year).
- 2010: Revenue of $187K, expenses of $218K, and assets of $84K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Havenwoods Economic Developement Corp:
Data Sources and Methodology
This transparency report for Havenwoods Economic Developement Corp 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.