Home Care Services For Independent Living Inc
Home Care Services For Independent Living Inc faces significant revenue decline and operating deficits despite high program spending.
EIN: 112516716 · Brooklyn, NY · NTEE: E920 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $16.9M |
| Total Expenses | $19.2M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $16 |
| Net Assets | $2.0M |
| Transparency Score | 65/100 |
Is Home Care Services For Independent Living Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Home Care Services For Independent Living Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Home Care Services For Independent Living Inc
Home Care Services For Independent Living Inc (EIN: 112516716) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code E920. The organization reported total revenue of $16.9M and total assets of $7.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Home Care Services For Independent Living Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Home Care Services For Independent Living Inc is a large nonprofit that has been operating for 46 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $16.5M |
| Total Expenses | $19.2M |
| Surplus / Deficit | $-2,728,059 |
| Total Assets | $7.4M |
| Total Liabilities | $5.4M |
| Net Assets | $2.0M |
| Operating Margin | -16.6% |
| Debt-to-Asset Ratio | 72.6% |
| Months of Reserves | 4.7 months |
Financial Health Grade: C
In 2023, Home Care Services For Independent Living Inc reported a deficit of $2.7M with expenses exceeding revenue, holds 4.7 months of operating reserves (adequate), has a debt-to-asset ratio of 72.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Home Care Services For Independent Living Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -29.2% | -16.3% | -3.2% |
| 2022 | -16.3% | -12.6% | -1.0% |
| 2021 | -7.5% | -15.1% | -3.0% |
| 2020 | -5.7% | -2.3% | -25.1% |
| 2019 | -3.9% | -1.7% | +9.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1980 |
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 Home Care Services For Independent Living Inc with a Mission Score of 65 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, Home Care Services For Independent Living 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 $2.7M, with expenses exceeding revenue.
- Debt-to-asset ratio: 72.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size with revenues ranging from $16 million to $35 million. This could indicate that executive compensation is either very low, not reported under 'officer compensation' in the standard way, or potentially absent, which would be highly atypical for a nonprofit of this scale.
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 Home Care Services For Independent Living Inc's IRS 990 filings:
- Significant and sustained revenue decline over the past decade (from $35.2M in 2014 to $16.5M in 2023).
- Operating deficits in multiple recent years, including a $2.7 million deficit in 2023.
- Consistent reporting of 0% officer compensation across all filings, which is highly unusual for an organization of this scale and raises transparency questions.
- Decrease in total assets from $18.5 million in 2014 to $7.4 million in 2023, indicating a shrinking financial base.
- Increase in liabilities from $2.8 million in 2022 to $5.4 million in 2023, worsening the debt-to-asset ratio.
Strengths
The following positive indicators were identified for Home Care Services For Independent Living Inc:
- High program spending ratio (85% in 2023), indicating a strong focus on its mission.
- Long operational history with 13 IRS 990 filings available, suggesting established presence.
- Despite financial challenges, the organization continues to provide services, as evidenced by ongoing expenses.
Frequently Asked Questions about Home Care Services For Independent Living Inc
Is Home Care Services For Independent Living Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Home Care Services For Independent Living Inc (EIN: 112516716) some concerns. Mission Score: 65/100. 5 red flags identified, 3 strengths noted.
How does Home Care Services For Independent Living Inc spend its money?
Home Care Services For Independent Living Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Home Care Services For Independent Living Inc tax-deductible?
Home Care Services For Independent Living Inc is registered as a tax-exempt nonprofit (EIN: 112516716). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Home Care Services For Independent Living Inc CEO make?
Home Care Services For Independent Living Inc's highest-compensated officer earns $16 annually. The organization reported $16.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Home Care Services For Independent Living Inc's spending goes to programs?
Home Care Services For Independent Living Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Home Care Services For Independent Living Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Home Care Services For Independent Living Inc is above average for NTEE category E920 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Home Care Services For Independent Living Inc located?
Home Care Services For Independent Living Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 112516716. It is classified under NTEE code E920.
How many years of IRS 990 filings does Home Care Services For Independent Living Inc have?
Home Care Services For Independent Living 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 $16.9M in total revenue.
Why has the organization's revenue declined by over 50% since 2014?
The IRS 990 filings show a consistent downward trend in revenue, from $35.2 million in 2014 to $16.5 million in 2023. The filings themselves do not provide a narrative explanation for this significant decline.
How does the organization manage to report 0% officer compensation for over a decade?
All 13 available IRS 990 filings consistently show 0% officer compensation. This is highly unusual for an organization with annual revenues in the tens of millions and suggests that compensation for key management personnel might be reported under other expense categories or that the organization operates with an entirely volunteer executive leadership, which is rare for its size.
What is the plan to address the recent operating deficits, such as the $2.7 million deficit in 2023?
The organization incurred expenses of $19,199,143 against revenues of $16,471,084 in 2023, resulting in a deficit. Similar deficits occurred in 2020 and 2015. The filings do not detail specific plans to return to profitability.
What is the current financial stability given the decrease in assets and increase in liabilities in 2023?
Assets decreased from $7,697,056 in 2022 to $7,448,246 in 2023, while liabilities increased from $2,882,042 to $5,408,326 in the same period. This trend suggests a weakening financial position, with a lower net asset base and higher debt burden.
Filing History
IRS 990 filing history for Home Care Services For Independent Living Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Home Care Services For Independent Living Inc's revenue has declined by 56.3%, moving from $37.7M to $16.5M. Total assets decreased by 54.1% over the same period, from $16.2M to $7.4M. Total functional expenses fell by 47.7%, from $36.7M to $19.2M. In its most recent filing year (2023), Home Care Services For Independent Living Inc reported a deficit of $2.7M, with expenses exceeding revenue. The organization holds $5.4M in liabilities against $7.4M in assets (debt-to-asset ratio: 72.6%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $16.5M | $19.2M | $7.4M | $5.4M | — | View 990 |
| 2022 | $23.3M | $22.9M | $7.7M | $2.9M | — | View 990 |
| 2021 | $27.8M | $26.2M | $7.8M | $2.8M | — | View 990 |
| 2020 | $30.1M | $30.9M | $8.0M | $4.6M | — | View 990 |
| 2019 | $31.9M | $31.6M | $10.7M | $5.2M | — | View 990 |
| 2018 | $33.2M | $32.2M | $9.8M | $4.2M | — | View 990 |
| 2017 | $32.4M | $30.1M | $8.6M | $2.6M | — | View 990 |
| 2016 | $30.2M | $27.6M | $10.6M | $2.3M | — | View 990 |
| 2015 | $32.8M | $32.9M | $11.8M | $5.7M | — | View 990 |
| 2014 | $35.2M | $30.8M | $18.5M | $3.3M | — | View 990 |
| 2013 | $37.7M | $35.4M | $14.3M | $3.7M | — | View 990 |
| 2012 | $41.2M | $40.4M | $14.2M | $3.9M | — | View 990 |
| 2011 | $37.7M | $36.7M | $16.2M | $5.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $16.5M, expenses of $19.2M, and assets of $7.4M (revenue -29.2% year-over-year).
- 2022: Revenue of $23.3M, expenses of $22.9M, and assets of $7.7M (revenue -16.3% year-over-year).
- 2021: Revenue of $27.8M, expenses of $26.2M, and assets of $7.8M (revenue -7.5% year-over-year).
- 2020: Revenue of $30.1M, expenses of $30.9M, and assets of $8.0M (revenue -5.7% year-over-year).
- 2019: Revenue of $31.9M, expenses of $31.6M, and assets of $10.7M (revenue -3.9% year-over-year).
- 2018: Revenue of $33.2M, expenses of $32.2M, and assets of $9.8M (revenue +2.4% year-over-year).
- 2017: Revenue of $32.4M, expenses of $30.1M, and assets of $8.6M (revenue +7.4% year-over-year).
- 2016: Revenue of $30.2M, expenses of $27.6M, and assets of $10.6M (revenue -8.1% year-over-year).
- 2015: Revenue of $32.8M, expenses of $32.9M, and assets of $11.8M (revenue -6.7% year-over-year).
- 2014: Revenue of $35.2M, expenses of $30.8M, and assets of $18.5M (revenue -6.5% year-over-year).
- 2013: Revenue of $37.7M, expenses of $35.4M, and assets of $14.3M (revenue -8.6% year-over-year).
- 2012: Revenue of $41.2M, expenses of $40.4M, and assets of $14.2M (revenue +9.3% year-over-year).
- 2011: Revenue of $37.7M, expenses of $36.7M, and assets of $16.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Home Care Services For Independent Living Inc:
Data Sources and Methodology
This transparency report for Home Care Services For Independent Living 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.