Homes For New Yorkers
Homes For New Yorkers shows strong asset growth and low expenses, but carries significant liabilities.
EIN: 132875896 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $641K |
| Program Spending | 85% |
| Net Assets | $7.7M |
| Transparency Score | 88/100 |
Is Homes For New Yorkers Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Homes For New Yorkers directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Homes For New Yorkers
Homes For New Yorkers (EIN: 132875896) is a nonprofit organization based in New York, NY. The organization reported total revenue of $1.8M and total assets of $22.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homes For New Yorkers's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Homes For New Yorkers is a mid-size nonprofit that has been operating for 48 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 13.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $641K |
| Surplus / Deficit | +$708K |
| Total Assets | $21.2M |
| Total Liabilities | $13.5M |
| Net Assets | $7.7M |
| Operating Margin | 52.5% |
| Debt-to-Asset Ratio | 63.6% |
| Months of Reserves | 397.0 months |
Financial Health Grade: A
In 2023, Homes For New Yorkers reported a surplus of $708K with revenue exceeding expenses, holds 397.0 months of operating reserves (strong position), has a debt-to-asset ratio of 63.6% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Homes For New Yorkers's revenue has grown at a compound annual growth rate (CAGR) of 13.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +123.1% | +130.1% | +14.9% |
| 2022 | +8.8% | +145.8% | +120.3% |
| 2021 | -24.3% | +726.4% | +3.5% |
| 2020 | +56.6% | +3.4% | +10.9% |
| 2019 | +8.7% | -0.4% | +6.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
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 Homes For New Yorkers with a Mission Score of 88 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: 85%
- fundraising: 5%
According to IRS 990 filings, Homes For New Yorkers 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 surplus of $708K, with revenue exceeding expenses.
- Debt-to-asset ratio: 63.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which significantly reduces administrative overhead.
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 Homes For New Yorkers's IRS 990 filings:
- Consistently high liabilities relative to assets (e.g., $13,494,037 in liabilities vs. $21,219,233 in assets in 2023) warrant further investigation into their nature.
- Unknown NTEE code makes it difficult to benchmark program efficiency against similar organizations.
Strengths
The following positive indicators were identified for Homes For New Yorkers:
- Strong and consistent asset growth, from $8,382,392 in 2021 to $21,219,233 in 2023.
- Very low expense ratios relative to revenue in recent years, indicating efficient operations (e.g., 2023 expenses were less than half of revenue).
- No reported officer compensation across all filings, suggesting a highly volunteer-driven or lean executive structure.
- Significant revenue generation capacity, with latest reported revenue at $1,845,684.
Frequently Asked Questions about Homes For New Yorkers
Is Homes For New Yorkers a legitimate charity?
Homes For New Yorkers (EIN: 132875896) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 88/100. It has 14 years of IRS 990 filings on record. Total revenue: $1.8M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Homes For New Yorkers spend its money?
Homes For New Yorkers directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Homes For New Yorkers tax-deductible?
Homes For New Yorkers is registered as a tax-exempt nonprofit (EIN: 132875896). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Homes For New Yorkers's spending goes to programs?
Homes For New Yorkers directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Homes For New Yorkers located?
Homes For New Yorkers is headquartered in New York, New York and files with the IRS under EIN 132875896.
How many years of IRS 990 filings does Homes For New Yorkers have?
Homes For New Yorkers has 14 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 significant liabilities reported by Homes For New Yorkers?
The IRS 990 filings show liabilities of $13,494,037 in 2023 against assets of $21,219,233. Understanding if these are program-related, such as mortgages on affordable housing properties, or operational debts, is crucial for a complete financial picture.
How does Homes For New Yorkers achieve such low expense ratios relative to revenue?
The organization consistently reports expenses significantly lower than revenue, for example, $641,446 in expenses against $1,349,249 in revenue in 2023. This suggests highly efficient operations, potentially through volunteer efforts or very lean administrative structures, especially given the 0% officer compensation.
What specific programs does Homes For New Yorkers operate given the unknown NTEE code?
Without a specific NTEE code, it's difficult to precisely categorize their mission. Given the name 'Homes For New Yorkers,' it's likely related to housing, but details on their specific initiatives (e.g., affordable housing development, rental assistance, homelessness services) would provide better context for their financial activities.
Filing History
IRS 990 filing history for Homes For New Yorkers showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Homes For New Yorkers's revenue has grown by 419.9%, moving from $260K to $1.3M. Total assets increased by 441.7% over the same period, from $3.9M to $21.2M. Total functional expenses rose by 3045.6%, from $20K to $641K. In its most recent filing year (2023), Homes For New Yorkers reported a surplus of $708K, with revenue exceeding expenses. The organization holds $13.5M in liabilities against $21.2M in assets (debt-to-asset ratio: 63.6%), resulting in net assets of $7.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $641K | $21.2M | $13.5M | — | — |
| 2022 | $605K | $279K | $18.5M | $11.7M | — | View 990 |
| 2021 | $556K | $113K | $8.4M | $1.9M | — | View 990 |
| 2020 | $734K | $14K | $8.1M | $2.1M | — | View 990 |
| 2019 | $469K | $13K | $7.3M | $2.0M | — | View 990 |
| 2018 | $431K | $13K | $6.8M | $2.0M | — | View 990 |
| 2017 | $476K | $564K | $6.4M | $2.0M | — | View 990 |
| 2016 | $1.1M | $627K | $6.6M | $2.1M | — | View 990 |
| 2015 | $355K | $407K | $6.1M | $2.1M | — | View 990 |
| 2014 | $2.0M | $1.8M | $6.1M | $2.0M | — | View 990 |
| 2013 | $804K | $191K | $6.0M | $2.1M | — | View 990 |
| 2012 | $330K | $203K | $8.8M | $5.7M | — | View 990 |
| 2011 | $1.8M | $47K | $5.4M | $2.4M | — | View 990 |
| 2010 | $260K | $20K | $3.9M | $2.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $641K, and assets of $21.2M (revenue +123.1% year-over-year).
- 2022: Revenue of $605K, expenses of $279K, and assets of $18.5M (revenue +8.8% year-over-year).
- 2021: Revenue of $556K, expenses of $113K, and assets of $8.4M (revenue -24.3% year-over-year).
- 2020: Revenue of $734K, expenses of $14K, and assets of $8.1M (revenue +56.6% year-over-year).
- 2019: Revenue of $469K, expenses of $13K, and assets of $7.3M (revenue +8.7% year-over-year).
- 2018: Revenue of $431K, expenses of $13K, and assets of $6.8M (revenue -9.4% year-over-year).
- 2017: Revenue of $476K, expenses of $564K, and assets of $6.4M (revenue -57.0% year-over-year).
- 2016: Revenue of $1.1M, expenses of $627K, and assets of $6.6M (revenue +212.2% year-over-year).
- 2015: Revenue of $355K, expenses of $407K, and assets of $6.1M (revenue -82.1% year-over-year).
- 2014: Revenue of $2.0M, expenses of $1.8M, and assets of $6.1M (revenue +146.8% year-over-year).
- 2013: Revenue of $804K, expenses of $191K, and assets of $6.0M (revenue +143.9% year-over-year).
- 2012: Revenue of $330K, expenses of $203K, and assets of $8.8M (revenue -81.6% year-over-year).
- 2011: Revenue of $1.8M, expenses of $47K, and assets of $5.4M (revenue +590.7% year-over-year).
- 2010: Revenue of $260K, expenses of $20K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Homes For New Yorkers:
Data Sources and Methodology
This transparency report for Homes For New Yorkers 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.