Heart Of The City Neighborhoods Inc
Heart Of The City Neighborhoods Inc shows significant growth in revenue and assets with no reported officer compensation.
EIN: 161544656 · Buffalo, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.4M |
| Total Expenses | $2.4M |
| Program Spending | 85% |
| Net Assets | $109K |
| Transparency Score | 90/100 |
Is Heart Of The City Neighborhoods Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heart Of The City Neighborhoods Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heart Of The City Neighborhoods Inc
Heart Of The City Neighborhoods Inc (EIN: 161544656) is a nonprofit organization based in Buffalo, NY, classified under NTEE code L20. The organization reported total revenue of $3.4M and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heart Of The City Neighborhoods Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heart Of The City Neighborhoods Inc is a mid-size nonprofit that has been operating for 28 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 20.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $2.4M |
| Surplus / Deficit | $-26,246 |
| Total Assets | $1.3M |
| Total Liabilities | $1.2M |
| Net Assets | $109K |
| Operating Margin | -1.1% |
| Debt-to-Asset Ratio | 91.6% |
| Months of Reserves | 6.5 months |
Financial Health Grade: C
In 2023, Heart Of The City Neighborhoods Inc reported a deficit of $26K with expenses exceeding revenue, holds 6.5 months of operating reserves (strong position), has a debt-to-asset ratio of 91.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Heart Of The City Neighborhoods Inc's revenue has grown at a compound annual growth rate (CAGR) of 20.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +42.7% | +36.8% | +129.5% |
| 2022 | +35.7% | +55.4% | -9.3% |
| 2021 | +66.2% | +65.1% | +263.3% |
| 2020 | -3.5% | +26.0% | -36.9% |
| 2019 | +39.1% | +7.8% | +4.3% |
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 Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Heart Of The City Neighborhoods Inc with a Mission Score of 90 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, Heart Of The City Neighborhoods Inc 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 $26K, with expenses exceeding revenue.
- Debt-to-asset ratio: 91.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly favorable for directing funds to programs.
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 Heart Of The City Neighborhoods Inc's IRS 990 filings:
- Expenses occasionally exceed revenue, as seen in 2023 ($2,393,417 expenses vs. $2,367,171 revenue) and 2022 ($1,749,865 expenses vs. $1,658,680 revenue), which could impact long-term financial stability if not managed.
Strengths
The following positive indicators were identified for Heart Of The City Neighborhoods Inc:
- Significant growth in revenue and assets, with revenue increasing from $735,538 in 2020 to $2,367,171 in 2023, demonstrating expanding capacity.
- Consistent reporting of 0% officer compensation, indicating strong financial transparency and dedication of funds to mission.
- Substantial asset growth from $171,530 in 2020 to $1,297,292 in 2023, suggesting effective investment in its housing development mission.
- Generally high utilization of funds, with expenses closely matching revenue, indicating resources are actively deployed for programs.
Frequently Asked Questions about Heart Of The City Neighborhoods Inc
Is Heart Of The City Neighborhoods Inc a legitimate charity?
Heart Of The City Neighborhoods Inc (EIN: 161544656) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.4M. 1 red flag identified. 4 strengths noted. Financial health grade: C.
How does Heart Of The City Neighborhoods Inc spend its money?
Heart Of The City Neighborhoods Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Heart Of The City Neighborhoods Inc tax-deductible?
Heart Of The City Neighborhoods Inc is registered as a tax-exempt nonprofit (EIN: 161544656). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Heart Of The City Neighborhoods Inc's spending goes to programs?
Heart Of The City Neighborhoods Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Heart Of The City Neighborhoods Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Heart Of The City Neighborhoods Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Heart Of The City Neighborhoods Inc located?
Heart Of The City Neighborhoods Inc is headquartered in Buffalo, New York and files with the IRS under EIN 161544656. It is classified under NTEE code L20.
How many years of IRS 990 filings does Heart Of The City Neighborhoods Inc have?
Heart Of The City Neighborhoods Inc 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 $3.4M in total revenue.
How does Heart Of The City Neighborhoods Inc manage its rapid asset growth?
The organization's assets have grown from $171,530 in 2020 to $1,297,292 in 2023. This substantial increase, particularly for a housing development organization, likely reflects investments in properties or projects that align with its mission.
What is the long-term sustainability of the organization given its expense-to-revenue ratio?
In several periods, such as 2023 ($2,393,417 expenses vs. $2,367,171 revenue) and 2022 ($1,749,865 expenses vs. $1,658,680 revenue), expenses slightly exceeded revenue. While this can be common for growing nonprofits utilizing grants, consistent small deficits could warrant closer examination of funding strategies.
Does the 0% officer compensation indicate a fully volunteer-run leadership?
While 0% officer compensation is reported, it doesn't necessarily mean all leadership is volunteer. It could indicate that key leadership roles are compensated through other means (e.g., as employees rather than officers) or that the organization truly operates with unpaid officers. Further investigation into staff compensation would clarify this.
Filing History
IRS 990 filing history for Heart Of The City Neighborhoods Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Heart Of The City Neighborhoods Inc's revenue has grown by 844.9%, moving from $251K to $2.4M. Total assets increased by 217% over the same period, from $409K to $1.3M. Total functional expenses rose by 808.4%, from $263K to $2.4M. In its most recent filing year (2023), Heart Of The City Neighborhoods Inc reported a deficit of $26K, with expenses exceeding revenue. The organization holds $1.2M in liabilities against $1.3M in assets (debt-to-asset ratio: 91.6%), resulting in net assets of $109K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.4M | $1.3M | $1.2M | — | View 990 |
| 2022 | $1.7M | $1.7M | $565K | $430K | — | — |
| 2021 | $1.2M | $1.1M | $623K | $397K | — | View 990 |
| 2020 | $736K | $682K | $172K | $42K | — | — |
| 2019 | $763K | $541K | $272K | $196K | — | View 990 |
| 2018 | $548K | $502K | $261K | $406K | — | View 990 |
| 2017 | $584K | $619K | $143K | $335K | — | View 990 |
| 2016 | $769K | $737K | $246K | $402K | — | View 990 |
| 2015 | $642K | $564K | $131K | $318K | — | View 990 |
| 2014 | $811K | $887K | $119K | $386K | — | View 990 |
| 2013 | $412K | $544K | $210K | $401K | — | View 990 |
| 2012 | $576K | $655K | $951K | $1.1M | — | View 990 |
| 2011 | $251K | $263K | $409K | $440K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.4M, and assets of $1.3M (revenue +42.7% year-over-year).
- 2022: Revenue of $1.7M, expenses of $1.7M, and assets of $565K (revenue +35.7% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.1M, and assets of $623K (revenue +66.2% year-over-year).
- 2020: Revenue of $736K, expenses of $682K, and assets of $172K (revenue -3.5% year-over-year).
- 2019: Revenue of $763K, expenses of $541K, and assets of $272K (revenue +39.1% year-over-year).
- 2018: Revenue of $548K, expenses of $502K, and assets of $261K (revenue -6.1% year-over-year).
- 2017: Revenue of $584K, expenses of $619K, and assets of $143K (revenue -24.1% year-over-year).
- 2016: Revenue of $769K, expenses of $737K, and assets of $246K (revenue +19.7% year-over-year).
- 2015: Revenue of $642K, expenses of $564K, and assets of $131K (revenue -20.8% year-over-year).
- 2014: Revenue of $811K, expenses of $887K, and assets of $119K (revenue +96.8% year-over-year).
- 2013: Revenue of $412K, expenses of $544K, and assets of $210K (revenue -28.4% year-over-year).
- 2012: Revenue of $576K, expenses of $655K, and assets of $951K (revenue +129.8% year-over-year).
- 2011: Revenue of $251K, expenses of $263K, and assets of $409K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heart Of The City Neighborhoods Inc:
Data Sources and Methodology
This transparency report for Heart Of The City Neighborhoods 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.