Heritage Place Phase Iii Inc
Heritage Place Phase III Inc. shows recent surplus after years of operating deficits, with declining assets and no executive compensation.
EIN: 202654649 · Coeur Dalene, ID · NTEE: L22 · Updated: 2026-03-28
Is Heritage Place Phase Iii Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heritage Place Phase Iii Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heritage Place Phase Iii Inc
Heritage Place Phase Iii Inc (EIN: 202654649) is a nonprofit organization based in Coeur Dalene, ID, classified under NTEE code L22. The organization reported total revenue of $259K and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heritage Place Phase Iii Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Heritage Place Phase Iii 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Heritage Place Phase Iii 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.
Executive Compensation Analysis
Heritage Place Phase III Inc. reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly efficient for resource allocation.
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 Heritage Place Phase Iii Inc's IRS 990 filings:
- Consistent operating deficits from 2015-2022, indicating expenses frequently exceeded revenue.
- Long-term decline in total assets from $3,170,111 in 2014 to $2,442,794 in 2023, potentially due to covering deficits.
Strengths
The following positive indicators were identified for Heritage Place Phase Iii Inc:
- Zero officer compensation reported across all filings, indicating high efficiency in executive pay.
- Consistent filing of IRS Form 990s, demonstrating transparency.
- Reported a significant surplus in 2023 ($382,789 revenue vs. $317,855 expenses), reversing a trend of deficits.
Frequently Asked Questions about Heritage Place Phase Iii Inc
Is Heritage Place Phase Iii Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Heritage Place Phase Iii Inc (EIN: 202654649) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Heritage Place Phase Iii Inc spend its money?
Heritage Place Phase Iii Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Heritage Place Phase Iii Inc tax-deductible?
Heritage Place Phase Iii Inc is registered as a tax-exempt nonprofit (EIN: 202654649). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Heritage Place Phase III Inc. financially sustainable given its historical operating deficits?
While the organization reported a surplus in 2023 ($382,789 revenue vs. $317,855 expenses), it consistently operated at a deficit from 2015 to 2022. Its assets have also declined from $3,170,111 in 2014 to $2,442,794 in 2023. Long-term sustainability depends on whether the 2023 surplus represents a new trend or an anomaly.
How does the organization cover its expenses when revenue is lower?
When expenses exceeded revenue, as seen from 2015-2022, the organization likely drew upon its existing assets or received non-operating income (e.g., grants, investments) not fully captured in the 'Revenue' figure provided, or utilized accumulated reserves to cover the difference.
What is the primary source of Heritage Place Phase III Inc.'s revenue?
The provided data only gives total revenue. To understand the primary source, one would need to examine the detailed revenue breakdown in the IRS Form 990, which typically includes contributions, program service revenue, investment income, etc.
Filing History
IRS 990 filing history for Heritage Place Phase Iii Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Heritage Place Phase Iii Inc's revenue has grown by 199.5%, moving from $128K to $383K. Total assets decreased by 26.4% over the same period, from $3.3M to $2.4M. Total functional expenses rose by 77.3%, from $179K to $318K. In its most recent filing year (2023), Heritage Place Phase Iii Inc reported a surplus of $65K, with revenue exceeding expenses. The organization holds $18K in liabilities against $2.4M in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $383K | $318K | $2.4M | $18K | — | — |
| 2022 | $133K | $218K | $2.4M | $42K | — | View 990 |
| 2021 | $141K | $210K | $2.5M | $27K | — | View 990 |
| 2020 | $138K | $235K | $2.5M | $26K | — | — |
| 2019 | $133K | $199K | $2.6M | $17K | — | View 990 |
| 2018 | $120K | $196K | $2.7M | $18K | — | View 990 |
| 2017 | $122K | $209K | $2.8M | $16K | — | View 990 |
| 2016 | $123K | $198K | $2.9M | $31K | — | View 990 |
| 2015 | $126K | $365K | $2.9M | $30K | — | View 990 |
| 2014 | $124K | $177K | $3.2M | $13K | — | View 990 |
| 2013 | $126K | $172K | $3.2M | $13K | — | View 990 |
| 2012 | $127K | $175K | $3.3M | $12K | — | View 990 |
| 2011 | $128K | $179K | $3.3M | $14K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $383K, expenses of $318K, and assets of $2.4M (revenue +187.0% year-over-year).
- 2022: Revenue of $133K, expenses of $218K, and assets of $2.4M (revenue -5.4% year-over-year).
- 2021: Revenue of $141K, expenses of $210K, and assets of $2.5M (revenue +2.3% year-over-year).
- 2020: Revenue of $138K, expenses of $235K, and assets of $2.5M (revenue +3.3% year-over-year).
- 2019: Revenue of $133K, expenses of $199K, and assets of $2.6M (revenue +11.1% year-over-year).
- 2018: Revenue of $120K, expenses of $196K, and assets of $2.7M (revenue -1.8% year-over-year).
- 2017: Revenue of $122K, expenses of $209K, and assets of $2.8M (revenue -0.2% year-over-year).
- 2016: Revenue of $123K, expenses of $198K, and assets of $2.9M (revenue -2.6% year-over-year).
- 2015: Revenue of $126K, expenses of $365K, and assets of $2.9M (revenue +1.4% year-over-year).
- 2014: Revenue of $124K, expenses of $177K, and assets of $3.2M (revenue -1.5% year-over-year).
- 2013: Revenue of $126K, expenses of $172K, and assets of $3.2M (revenue -0.4% year-over-year).
- 2012: Revenue of $127K, expenses of $175K, and assets of $3.3M (revenue -1.0% year-over-year).
- 2011: Revenue of $128K, expenses of $179K, and assets of $3.3M.
Data Sources and Methodology
This transparency report for Heritage Place Phase Iii 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.