Homeownership Affordability Trust Fund

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Homeownership Affordability Trust Fund Form 990, Revenue, CEO Pay, and IRS Filing Signals

Homeownership Affordability Trust Fund is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Homeownership Affordability Trust Fund in one place.

Is Homeownership Affordability Trust Fund Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Across stored filings, Homeownership Affordability Trust Fund shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Turn this Form 990 profile into a donor-ready report

Request a concise report for Homeownership Affordability Trust Fund with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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Homeownership Affordability Trust Fund directs 5% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.

About Homeownership Affordability Trust Fund

Homeownership Affordability Trust Fund (EIN: 222963595) is a nonprofit organization based in Providence, RI, classified under NTEE code L500. The organization reported total revenue of $5.8M and total assets of $113.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homeownership Affordability Trust Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Homeownership Affordability Trust Fund is a mid-size nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.9%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Homeownership Affordability Trust Fund reported a surplus of $2.7M with revenue exceeding expenses, holds 371.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Homeownership Affordability Trust Fund's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.

IRS Tax-Exempt Classification

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 Homeownership Affordability Trust Fund 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: 95%
• programs: 5%
• fundraising: 0%

According to IRS 990 filings, Homeownership Affordability Trust Fund allocates its expenses as follows: admin: 95%, programs: 5%, fundraising: 0%. Only 5% is directed toward programs, which may warrant further investigation by donors.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $2.7M, with revenue exceeding expenses.
• Debt-to-asset ratio: 0.5%.

Executive Compensation Analysis

Executive compensation is not reported in the provided data, as indicated by 'c0%' in all filings, suggesting either no paid executives or compensation below reporting thresholds.

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 Homeownership Affordability Trust Fund's IRS 990 filings:

• Extremely low program spending relative to total expenses and assets (e.g., $3,678,162 in programs vs. $113,861,875 in assets in 2023).
• The primary activity appears to be asset accumulation rather than direct program delivery, raising questions about the immediate impact of the 'Trust Fund' designation.
• Lack of detailed breakdown for administrative expenses, which constitute the vast majority of expenditures.

Strengths

The following positive indicators were identified for Homeownership Affordability Trust Fund:

• Consistent asset growth over the years, indicating strong financial management of its endowment.
• Zero reported fundraising costs, suggesting efficient capital retention.
• Maintains a significant asset base that could potentially support substantial future programming.

Frequently Asked Questions about Homeownership Affordability Trust Fund

Filing History

IRS 990 filing history for Homeownership Affordability Trust Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Homeownership Affordability Trust Fund's revenue has grown by 98.5%, moving from $3.2M to $6.4M. Total assets increased by 67.6% over the same period, from $67.9M to $113.9M. In its most recent filing year (2023), Homeownership Affordability Trust Fund reported a surplus of $2.7M, with revenue exceeding expenses. The organization holds $557K in liabilities against $113.9M in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $113.3M.

Year-by-Year Financial Summary

• 2023: Revenue of $6.4M, expenses of $3.7M, and assets of $113.9M (revenue +224.8% year-over-year).
• 2022: Revenue of $2.0M, expenses of $2.9M, and assets of $111.2M (revenue -73.1% year-over-year).
• 2021: Revenue of $7.4M, expenses of $184K, and assets of $112.4M (revenue +31.0% year-over-year).
• 2020: Revenue of $5.6M, expenses of $239K, and assets of $105.3M (revenue -37.2% year-over-year).
• 2019: Revenue of $9.0M, expenses of $729K, and assets of $99.9M (revenue +4.1% year-over-year).
• 2018: Revenue of $8.6M, expenses of $182K, and assets of $91.6M (revenue +99.5% year-over-year).
• 2017: Revenue of $4.3M, expenses of $-406,617, and assets of $83.2M (revenue +26.0% year-over-year).
• 2016: Revenue of $3.4M, expenses of $1.2M, and assets of $78.5M (revenue +23.3% year-over-year).
• 2015: Revenue of $2.8M, expenses of $1.9M, and assets of $76.3M (revenue +1.0% year-over-year).
• 2014: Revenue of $2.8M, expenses of $254K, and assets of $75.4M (revenue -25.4% year-over-year).
• 2013: Revenue of $3.7M, expenses of $-260,140, and assets of $72.9M (revenue +20.2% year-over-year).
• 2012: Revenue of $3.1M, expenses of $2.0M, and assets of $69.0M (revenue -5.3% year-over-year).
• 2011: Revenue of $3.2M, expenses of $0, and assets of $67.9M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Homeownership Affordability Trust Fund:

Data Sources and Methodology

This transparency report for Homeownership Affordability Trust Fund 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.