Homestead Homes Of Greensboro Inc
EIN: 562025609 · Greensboro, NC · NTEE: L22
| Metric | Value |
|---|---|
| Total Revenue | $253K |
| Total Expenses | $297K |
| Net Assets | $-1,361,610 |
Is Homestead Homes Of Greensboro Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Homestead Homes Of Greensboro Inc
Homestead Homes Of Greensboro Inc (EIN: 562025609) is a nonprofit organization based in Greensboro, NC, classified under NTEE code L22. The organization reported total revenue of $253K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homestead Homes Of Greensboro Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Homestead Homes Of Greensboro Inc is a small nonprofit that has been operating for 29 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $255K |
| Total Expenses | $297K |
| Surplus / Deficit | $-42,460 |
| Total Assets | $1.5M |
| Total Liabilities | $2.8M |
| Net Assets | $-1,361,610 |
| Operating Margin | -16.7% |
| Debt-to-Asset Ratio | 193.0% |
| Months of Reserves | 59.1 months |
Financial Health Grade: C
In 2023, Homestead Homes Of Greensboro Inc reported a deficit of $42K with expenses exceeding revenue, holds 59.1 months of operating reserves (strong position), has a debt-to-asset ratio of 193.0% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Homestead Homes Of Greensboro Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.2% | -1.0% | -2.8% |
| 2022 | +6.5% | +7.1% | -3.9% |
| 2021 | +9.8% | +7.0% | -4.5% |
| 2020 | -21.5% | -18.7% | -2.9% |
| 2019 | +5.4% | +10.5% | -2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Homestead Homes Of Greensboro Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Homestead Homes Of Greensboro Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $42K, with expenses exceeding revenue.
- Debt-to-asset ratio: 193.0%.
Frequently Asked Questions about Homestead Homes Of Greensboro Inc
Is Homestead Homes Of Greensboro Inc a legitimate charity?
Homestead Homes Of Greensboro Inc (EIN: 562025609) is a registered tax-exempt nonprofit based in North Carolina. It has 12 years of IRS 990 filings on record. Total revenue: $253K. No red flags identified. Financial health grade: C.
How does Homestead Homes Of Greensboro Inc spend its money?
Homestead Homes Of Greensboro Inc reported $253K in total revenue in IRS 990 filings. 12 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Homestead Homes Of Greensboro Inc tax-deductible?
Homestead Homes Of Greensboro Inc is registered as a tax-exempt nonprofit (EIN: 562025609). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Homestead Homes Of Greensboro Inc located?
Homestead Homes Of Greensboro Inc is headquartered in Greensboro, North Carolina and files with the IRS under EIN 562025609. It is classified under NTEE code L22.
How many years of IRS 990 filings does Homestead Homes Of Greensboro Inc have?
Homestead Homes Of Greensboro Inc has 12 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 $253K in total revenue.
Filing History
IRS 990 filing history for Homestead Homes Of Greensboro Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Homestead Homes Of Greensboro Inc's revenue has grown by 16.1%, moving from $220K to $255K. Total assets decreased by 28.4% over the same period, from $2.0M to $1.5M. Total functional expenses rose by 26.9%, from $234K to $297K. In its most recent filing year (2023), Homestead Homes Of Greensboro Inc reported a deficit of $42K, with expenses exceeding revenue. The organization holds $2.8M in liabilities against $1.5M in assets (debt-to-asset ratio: 193.0%), resulting in net assets of $-1,361,610.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $255K | $297K | $1.5M | $2.8M | — | — |
| 2022 | $240K | $300K | $1.5M | $2.8M | — | View 990 |
| 2021 | $225K | $280K | $1.6M | $2.8M | — | View 990 |
| 2020 | $205K | $262K | $1.6M | $2.8M | — | View 990 |
| 2019 | $261K | $322K | $1.7M | $2.8M | — | View 990 |
| 2018 | $248K | $291K | $1.7M | $2.8M | — | View 990 |
| 2017 | $240K | $292K | $1.8M | $2.8M | — | View 990 |
| 2016 | $251K | $272K | $1.8M | $2.8M | — | View 990 |
| 2015 | $232K | $283K | $1.9M | $2.8M | — | View 990 |
| 2014 | $227K | $299K | $1.9M | $2.8M | — | View 990 |
| 2013 | $225K | $284K | $2.0M | $2.9M | — | View 990 |
| 2012 | $220K | $234K | $2.0M | $2.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $255K, expenses of $297K, and assets of $1.5M (revenue +6.2% year-over-year).
- 2022: Revenue of $240K, expenses of $300K, and assets of $1.5M (revenue +6.5% year-over-year).
- 2021: Revenue of $225K, expenses of $280K, and assets of $1.6M (revenue +9.8% year-over-year).
- 2020: Revenue of $205K, expenses of $262K, and assets of $1.6M (revenue -21.5% year-over-year).
- 2019: Revenue of $261K, expenses of $322K, and assets of $1.7M (revenue +5.4% year-over-year).
- 2018: Revenue of $248K, expenses of $291K, and assets of $1.7M (revenue +3.3% year-over-year).
- 2017: Revenue of $240K, expenses of $292K, and assets of $1.8M (revenue -4.2% year-over-year).
- 2016: Revenue of $251K, expenses of $272K, and assets of $1.8M (revenue +7.9% year-over-year).
- 2015: Revenue of $232K, expenses of $283K, and assets of $1.9M (revenue +2.4% year-over-year).
- 2014: Revenue of $227K, expenses of $299K, and assets of $1.9M (revenue +1.1% year-over-year).
- 2013: Revenue of $225K, expenses of $284K, and assets of $2.0M (revenue +2.3% year-over-year).
- 2012: Revenue of $220K, expenses of $234K, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Homestead Homes Of Greensboro Inc:
Data Sources and Methodology
This transparency report for Homestead Homes Of Greensboro 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.