Herbert L Brooks Housing Development Fund Company Inc
Herbert L Brooks Housing Development Fund Company Inc shows strong revenue growth and positive operating margins in recent years, but maintains high liabilities.
EIN: 133595749 · Bronx, NY · NTEE: L20Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.5M |
| Program Spending | 80% |
| Net Assets | $-3,364,401 |
| Transparency Score | 75/100 |
Is Herbert L Brooks Housing Development Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Herbert L Brooks Housing Development Fund Company Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Herbert L Brooks Housing Development Fund Company Inc
Herbert L Brooks Housing Development Fund Company Inc (EIN: 133595749) is a nonprofit organization based in Bronx, NY, classified under NTEE code L20Z. The organization reported total revenue of $1.8M and total assets of $5.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Herbert L Brooks Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Herbert L Brooks Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 29 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $1.5M |
| Surplus / Deficit | +$464K |
| Total Assets | $4.7M |
| Total Liabilities | $8.0M |
| Net Assets | $-3,364,401 |
| Operating Margin | 23.8% |
| Debt-to-Asset Ratio | 172.1% |
| Months of Reserves | 37.6 months |
Financial Health Grade: A
In 2023, Herbert L Brooks Housing Development Fund Company Inc reported a surplus of $464K with revenue exceeding expenses, holds 37.6 months of operating reserves (strong position), has a debt-to-asset ratio of 172.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Herbert L Brooks Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.2% | +11.0% | +8.3% |
| 2022 | +77.4% | +28.3% | +8.3% |
| 2021 | +106.0% | -7.2% | +5.9% |
| 2020 | -16.0% | +45.4% | -14.0% |
| 2019 | +11.5% | +1.2% | -4.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
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 Herbert L Brooks Housing Development Fund Company Inc 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, Herbert L Brooks Housing Development Fund Company Inc 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 surplus of $464K, with revenue exceeding expenses.
- Debt-to-asset ratio: 172.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all 13 filings, suggesting either a volunteer executive team or that executive salaries are categorized under other expense lines, which could obscure a complete view of administrative costs relative to the organization's size and revenue growth.
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 Herbert L Brooks Housing Development Fund Company Inc's IRS 990 filings:
- Consistently high liabilities exceeding assets, leading to negative net assets in all reported periods (e.g., $4,664,989 assets vs. $8,029,390 liabilities in 2023).
- 0% officer compensation reported across all 13 filings, which may obscure true administrative costs or leadership structure.
Strengths
The following positive indicators were identified for Herbert L Brooks Housing Development Fund Company Inc:
- Significant revenue growth in recent years, from $513,142 in 2020 to $1,953,236 in 2023.
- Positive operating margins in the last three reported periods (2021-2023), indicating expenses are well-managed relative to revenue.
- Consistent filing history (13 filings), demonstrating commitment to transparency through regular IRS reporting.
Frequently Asked Questions about Herbert L Brooks Housing Development Fund Company Inc
Is Herbert L Brooks Housing Development Fund Company Inc a legitimate charity?
Herbert L Brooks Housing Development Fund Company Inc (EIN: 133595749) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.8M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Herbert L Brooks Housing Development Fund Company Inc spend its money?
Herbert L Brooks Housing Development Fund Company Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Herbert L Brooks Housing Development Fund Company Inc tax-deductible?
Herbert L Brooks Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133595749). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Herbert L Brooks Housing Development Fund Company Inc's spending goes to programs?
Herbert L Brooks Housing Development Fund Company Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Herbert L Brooks Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Herbert L Brooks Housing Development Fund Company Inc is above average for NTEE category L20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Herbert L Brooks Housing Development Fund Company Inc located?
Herbert L Brooks Housing Development Fund Company Inc is headquartered in Bronx, New York and files with the IRS under EIN 133595749. It is classified under NTEE code L20Z.
How many years of IRS 990 filings does Herbert L Brooks Housing Development Fund Company Inc have?
Herbert L Brooks Housing Development Fund Company 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 $1.8M in total revenue.
What is the nature of the consistently high liabilities (e.g., $8,029,390 in 2023) and how do they impact the organization's long-term financial stability?
The consistently high liabilities are a significant aspect of the organization's financial structure. For a Housing Development Fund Company, these often represent mortgages, construction loans, or other long-term debt associated with acquiring, developing, and managing affordable housing properties. While common in this sector, understanding the terms, repayment schedules, and collateral for these liabilities is crucial for assessing long-term financial stability. Without further detail, it's difficult to determine if they pose an undue risk or are a standard operational component.
Why is officer compensation consistently reported as 0% across all filings?
The consistent reporting of 0% officer compensation could indicate that the organization's executive leadership is entirely volunteer-based, or that any compensation for officers is reported under different expense categories (e.g., salaries and wages for program or administrative staff) rather than specifically as officer compensation. This practice, while not necessarily problematic, can make it challenging for external observers to assess the true cost of executive oversight and administrative efficiency.
How does the organization manage its significant asset-to-liability ratio, where liabilities often exceed assets (e.g., $4,664,989 assets vs. $8,029,390 liabilities in 2023)?
A situation where liabilities exceed assets, resulting in negative net assets, is not uncommon for certain types of housing development funds, especially those utilizing significant debt financing for property acquisition and development. This often means the organization's equity is negative. Management typically involves careful cash flow planning, securing long-term, low-interest financing, and relying on future revenue streams (like rental income or government subsidies) to service debt. The long-term viability depends on the sustainability of these revenue streams and the terms of the debt.
Filing History
IRS 990 filing history for Herbert L Brooks Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Herbert L Brooks Housing Development Fund Company Inc's revenue has grown by 272.9%, moving from $524K to $2.0M. Total assets decreased by 17.7% over the same period, from $5.7M to $4.7M. Total functional expenses rose by 106.2%, from $722K to $1.5M. In its most recent filing year (2023), Herbert L Brooks Housing Development Fund Company Inc reported a surplus of $464K, with revenue exceeding expenses. The organization holds $8.0M in liabilities against $4.7M in assets (debt-to-asset ratio: 172.1%), resulting in net assets of $-3,364,401.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.0M | $1.5M | $4.7M | $8.0M | — | — |
| 2022 | $1.9M | $1.3M | $4.3M | $8.1M | — | View 990 |
| 2021 | $1.1M | $1.0M | $4.0M | $8.2M | — | View 990 |
| 2020 | $513K | $1.1M | $3.8M | $8.0M | — | — |
| 2019 | $611K | $775K | $4.4M | $8.0M | — | View 990 |
| 2018 | $548K | $766K | $4.6M | $8.0M | — | View 990 |
| 2017 | $538K | $726K | $4.7M | $8.0M | — | View 990 |
| 2016 | $540K | $835K | $4.9M | $7.9M | — | View 990 |
| 2015 | $523K | $704K | $5.1M | $7.9M | — | View 990 |
| 2014 | $529K | $648K | $5.3M | $7.9M | — | View 990 |
| 2013 | $539K | $634K | $5.4M | $7.9M | — | View 990 |
| 2012 | $543K | $1.9M | $5.5M | $9.2M | — | View 990 |
| 2011 | $524K | $722K | $5.7M | $7.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.0M, expenses of $1.5M, and assets of $4.7M (revenue +4.2% year-over-year).
- 2022: Revenue of $1.9M, expenses of $1.3M, and assets of $4.3M (revenue +77.4% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.0M, and assets of $4.0M (revenue +106.0% year-over-year).
- 2020: Revenue of $513K, expenses of $1.1M, and assets of $3.8M (revenue -16.0% year-over-year).
- 2019: Revenue of $611K, expenses of $775K, and assets of $4.4M (revenue +11.5% year-over-year).
- 2018: Revenue of $548K, expenses of $766K, and assets of $4.6M (revenue +1.8% year-over-year).
- 2017: Revenue of $538K, expenses of $726K, and assets of $4.7M (revenue -0.4% year-over-year).
- 2016: Revenue of $540K, expenses of $835K, and assets of $4.9M (revenue +3.3% year-over-year).
- 2015: Revenue of $523K, expenses of $704K, and assets of $5.1M (revenue -1.2% year-over-year).
- 2014: Revenue of $529K, expenses of $648K, and assets of $5.3M (revenue -1.8% year-over-year).
- 2013: Revenue of $539K, expenses of $634K, and assets of $5.4M (revenue -0.7% year-over-year).
- 2012: Revenue of $543K, expenses of $1.9M, and assets of $5.5M (revenue +3.6% year-over-year).
- 2011: Revenue of $524K, expenses of $722K, and assets of $5.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Herbert L Brooks Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Herbert L Brooks Housing Development Fund Company 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.