Herkimer County Community College Housing Authority
Herkimer County Community College Housing Authority experiences declining revenue while maintaining stable assets and no executive compensation.
EIN: 161579707 · Herkimer, NY · NTEE: B02 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.4M |
| Total Expenses | $2.4M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $1.8M |
| Transparency Score | 85/100 |
Is Herkimer County Community College Housing Authority Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Herkimer County Community College Housing Authority directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Herkimer County Community College Housing Authority
Herkimer County Community College Housing Authority (EIN: 161579707) is a nonprofit organization based in Herkimer, NY, classified under NTEE code B02. The organization reported total revenue of $2.4M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Herkimer County Community College Housing Authority's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Herkimer County Community College Housing Authority is a mid-size nonprofit that has been operating for 25 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $2.4M |
| Surplus / Deficit | $-54,902 |
| Total Assets | $1.9M |
| Total Liabilities | $79K |
| Net Assets | $1.8M |
| Operating Margin | -2.4% |
| Debt-to-Asset Ratio | 4.3% |
| Months of Reserves | 9.3 months |
Financial Health Grade: B
In 2023, Herkimer County Community College Housing Authority reported a deficit of $55K with expenses exceeding revenue, holds 9.3 months of operating reserves (strong position), has a debt-to-asset ratio of 4.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Herkimer County Community College Housing Authority's revenue has declined at a compound annual growth rate (CAGR) of -3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.4% | -4.0% | -1.9% |
| 2022 | -1.4% | +5.2% | -32.9% |
| 2021 | -3.0% | -13.6% | -2.6% |
| 2020 | -27.4% | -12.1% | -4.0% |
| 2019 | -16.3% | -13.4% | +0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2001 |
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 Herkimer County Community College Housing Authority with a Mission Score of 85 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: 90%
- fundraising: 0%
According to IRS 990 filings, Herkimer County Community College Housing Authority allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $55K, with expenses exceeding revenue.
- Debt-to-asset ratio: 4.3%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive compensation from the organization. This is a highly positive indicator of financial efficiency and a strong commitment to directing all available funds towards the organization's housing programs, especially for an organization with annual revenues exceeding $2 million.
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 Herkimer County Community College Housing Authority's IRS 990 filings:
- Consistent decline in annual revenue from $4,021,720 in 2017 to $2,331,403 in 2023.
- Expenses have exceeded revenue in multiple recent periods (e.g., 2023, 2022, 2021, 2020), indicating operational deficits.
Strengths
The following positive indicators were identified for Herkimer County Community College Housing Authority:
- Zero officer compensation reported across all filings, indicating high efficiency and dedication of funds to mission.
- Strong asset base relative to liabilities, with assets of $1,852,855 and liabilities of $79,426 in 2023.
- Consistent history of filing IRS Form 990, demonstrating transparency.
Frequently Asked Questions about Herkimer County Community College Housing Authority
Is Herkimer County Community College Housing Authority a legitimate charity?
Herkimer County Community College Housing Authority (EIN: 161579707) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.4M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Herkimer County Community College Housing Authority spend its money?
Herkimer County Community College Housing Authority directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Herkimer County Community College Housing Authority tax-deductible?
Herkimer County Community College Housing Authority is registered as a tax-exempt nonprofit (EIN: 161579707). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Herkimer County Community College Housing Authority CEO make?
Herkimer County Community College Housing Authority's highest-compensated officer earns $2 annually. The organization reported $2.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Herkimer County Community College Housing Authority compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Herkimer County Community College Housing Authority is above average for NTEE category B02 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Herkimer County Community College Housing Authority located?
Herkimer County Community College Housing Authority is headquartered in Herkimer, New York and files with the IRS under EIN 161579707. It is classified under NTEE code B02.
How many years of IRS 990 filings does Herkimer County Community College Housing Authority have?
Herkimer County Community College Housing Authority 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 $2.4M in total revenue.
Is Herkimer County Community College Housing Authority a good charity?
Based on the available data, the organization demonstrates strong financial health in terms of asset management and an exceptional commitment to efficiency by not paying executive compensation. Its primary challenge appears to be a declining revenue trend, which warrants monitoring, but its operational model suggests a high percentage of funds are directed to its programs.
What caused the significant decline in revenue since 2017?
The filings show a consistent decline in revenue from $4,021,720 in 2017 to $2,331,403 in 2023. Without further details from the narrative sections of the 990s, the specific reasons for this decline are not clear from the provided financial summary. It could be due to reduced demand for housing, changes in funding sources, or other operational shifts.
How does the organization manage to operate without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that compensation for management roles is covered by an affiliated entity (e.g., Herkimer County Community College) and not directly by the Housing Authority itself. This is a significant factor in its operational efficiency.
Are the recent deficits a concern for long-term sustainability?
While the organization has experienced periods where expenses exceeded revenue (e.g., 2023, 2022, 2021, 2020), its strong asset base ($1,852,855 in 2023) and low liabilities ($79,426 in 2023) provide a buffer. However, if the trend of declining revenue and occasional deficits continues, it could impact long-term sustainability and warrants strategic planning to either increase revenue or reduce expenses.
Filing History
IRS 990 filing history for Herkimer County Community College Housing Authority showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Herkimer County Community College Housing Authority's revenue has declined by 37.1%, moving from $3.7M to $2.3M. Total assets decreased by 1.3% over the same period, from $1.9M to $1.9M. Total functional expenses fell by 33.6%, from $3.6M to $2.4M. In its most recent filing year (2023), Herkimer County Community College Housing Authority reported a deficit of $55K, with expenses exceeding revenue. The organization holds $79K in liabilities against $1.9M in assets (debt-to-asset ratio: 4.3%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.4M | $1.9M | $79K | — | View 990 |
| 2022 | $2.2M | $2.5M | $1.9M | $60K | — | View 990 |
| 2021 | $2.2M | $2.4M | $2.8M | $670K | — | View 990 |
| 2020 | $2.3M | $2.7M | $2.9M | $584K | — | View 990 |
| 2019 | $3.1M | $3.1M | $3.0M | $239K | — | View 990 |
| 2018 | $3.7M | $3.6M | $3.0M | $240K | — | View 990 |
| 2017 | $4.0M | $3.6M | $3.4M | $810K | — | View 990 |
| 2016 | $3.9M | $3.5M | $2.6M | $436K | — | View 990 |
| 2015 | $3.9M | $3.7M | $2.6M | $812K | — | View 990 |
| 2014 | $3.7M | $3.5M | $2.3M | $693K | — | View 990 |
| 2013 | $3.7M | $3.6M | $2.0M | $584K | — | View 990 |
| 2012 | $3.7M | $3.6M | $1.6M | $404K | — | View 990 |
| 2011 | $3.7M | $3.6M | $1.9M | $825K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.4M, and assets of $1.9M (revenue +7.4% year-over-year).
- 2022: Revenue of $2.2M, expenses of $2.5M, and assets of $1.9M (revenue -1.4% year-over-year).
- 2021: Revenue of $2.2M, expenses of $2.4M, and assets of $2.8M (revenue -3.0% year-over-year).
- 2020: Revenue of $2.3M, expenses of $2.7M, and assets of $2.9M (revenue -27.4% year-over-year).
- 2019: Revenue of $3.1M, expenses of $3.1M, and assets of $3.0M (revenue -16.3% year-over-year).
- 2018: Revenue of $3.7M, expenses of $3.6M, and assets of $3.0M (revenue -7.1% year-over-year).
- 2017: Revenue of $4.0M, expenses of $3.6M, and assets of $3.4M (revenue +4.2% year-over-year).
- 2016: Revenue of $3.9M, expenses of $3.5M, and assets of $2.6M (revenue -1.3% year-over-year).
- 2015: Revenue of $3.9M, expenses of $3.7M, and assets of $2.6M (revenue +6.1% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.5M, and assets of $2.3M (revenue -1.7% year-over-year).
- 2013: Revenue of $3.7M, expenses of $3.6M, and assets of $2.0M (revenue +0.3% year-over-year).
- 2012: Revenue of $3.7M, expenses of $3.6M, and assets of $1.6M (revenue +0.8% year-over-year).
- 2011: Revenue of $3.7M, expenses of $3.6M, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Herkimer County Community College Housing Authority:
Data Sources and Methodology
This transparency report for Herkimer County Community College Housing Authority 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.