Housing Development Corporation Midatlantic
EIN: 231861343 · Lancaster, PA · NTEE: L21
| Metric | Value |
|---|---|
| Total Revenue | $15.6M |
| Total Expenses | $13.4M |
| Net Assets | $17.9M |
Is Housing Development Corporation Midatlantic Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Housing Development Corporation Midatlantic
Housing Development Corporation Midatlantic (EIN: 231861343) is a nonprofit organization based in Lancaster, PA, classified under NTEE code L21. The organization reported total revenue of $15.6M and total assets of $31.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Housing Development Corporation Midatlantic's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Housing Development Corporation Midatlantic is a large nonprofit that has been operating for 15 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $15.9M |
| Total Expenses | $13.4M |
| Surplus / Deficit | +$2.5M |
| Total Assets | $27.2M |
| Total Liabilities | $9.2M |
| Net Assets | $17.9M |
| Operating Margin | 15.8% |
| Debt-to-Asset Ratio | 34.0% |
| Months of Reserves | 24.4 months |
Financial Health Grade: A
In 2023, Housing Development Corporation Midatlantic reported a surplus of $2.5M with revenue exceeding expenses, holds 24.4 months of operating reserves (strong position), has a debt-to-asset ratio of 34.0% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Housing Development Corporation Midatlantic's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +39.0% | +19.6% | +10.0% |
| 2022 | -4.2% | -1.2% | -0.7% |
| 2021 | +13.9% | +6.3% | +14.0% |
| 2020 | -2.7% | +1.4% | +2.9% |
| 2019 | -2.5% | +2.2% | +1.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Housing Development Corporation Midatlantic 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 Housing Development Corporation Midatlantic 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 surplus of $2.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 34.0%.
Frequently Asked Questions about Housing Development Corporation Midatlantic
Is Housing Development Corporation Midatlantic a legitimate charity?
Based on AI analysis of IRS 990 filings, Housing Development Corporation Midatlantic (EIN: 231861343) insufficient data. 0 red flags identified, 0 strengths noted.
How does Housing Development Corporation Midatlantic spend its money?
Detailed spending breakdown data is not yet available for Housing Development Corporation Midatlantic. Check back for updated IRS 990 analysis.
Are donations to Housing Development Corporation Midatlantic tax-deductible?
Housing Development Corporation Midatlantic is registered as a tax-exempt nonprofit (EIN: 231861343). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Housing Development Corporation Midatlantic located?
Housing Development Corporation Midatlantic is headquartered in Lancaster, Pennsylvania and files with the IRS under EIN 231861343. It is classified under NTEE code L21.
How many years of IRS 990 filings does Housing Development Corporation Midatlantic have?
Housing Development Corporation Midatlantic 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 $15.6M in total revenue.
Filing History
IRS 990 filing history for Housing Development Corporation Midatlantic showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Housing Development Corporation Midatlantic's revenue has grown by 143.8%, moving from $6.5M to $15.9M. Total assets increased by 243.3% over the same period, from $7.9M to $27.2M. Total functional expenses rose by 121%, from $6.1M to $13.4M. In its most recent filing year (2023), Housing Development Corporation Midatlantic reported a surplus of $2.5M, with revenue exceeding expenses. The organization holds $9.2M in liabilities against $27.2M in assets (debt-to-asset ratio: 34.0%), resulting in net assets of $17.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $15.9M | $13.4M | $27.2M | $9.2M | — | — |
| 2022 | $11.4M | $11.2M | $24.7M | $8.1M | — | — |
| 2021 | $11.9M | $11.3M | $24.9M | $8.4M | — | View 990 |
| 2020 | $10.5M | $10.7M | $21.8M | $6.0M | — | — |
| 2019 | $10.8M | $10.5M | $21.2M | $7.5M | — | View 990 |
| 2018 | $11.0M | $10.3M | $21.0M | $7.5M | — | View 990 |
| 2017 | $9.5M | $9.6M | $19.8M | $7.5M | — | — |
| 2016 | $9.7M | $8.9M | $17.2M | $5.0M | — | View 990 |
| 2015 | $10.4M | $8.5M | $15.9M | $5.0M | — | View 990 |
| 2014 | $8.3M | $7.6M | $16.3M | $7.6M | — | View 990 |
| 2013 | $8.0M | $7.4M | $13.0M | $5.2M | — | View 990 |
| 2012 | $7.6M | $6.5M | $8.9M | $2.0M | — | View 990 |
| 2011 | $6.5M | $6.1M | $7.9M | $2.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15.9M, expenses of $13.4M, and assets of $27.2M (revenue +39.0% year-over-year).
- 2022: Revenue of $11.4M, expenses of $11.2M, and assets of $24.7M (revenue -4.2% year-over-year).
- 2021: Revenue of $11.9M, expenses of $11.3M, and assets of $24.9M (revenue +13.9% year-over-year).
- 2020: Revenue of $10.5M, expenses of $10.7M, and assets of $21.8M (revenue -2.7% year-over-year).
- 2019: Revenue of $10.8M, expenses of $10.5M, and assets of $21.2M (revenue -2.5% year-over-year).
- 2018: Revenue of $11.0M, expenses of $10.3M, and assets of $21.0M (revenue +16.1% year-over-year).
- 2017: Revenue of $9.5M, expenses of $9.6M, and assets of $19.8M (revenue -1.7% year-over-year).
- 2016: Revenue of $9.7M, expenses of $8.9M, and assets of $17.2M (revenue -7.3% year-over-year).
- 2015: Revenue of $10.4M, expenses of $8.5M, and assets of $15.9M (revenue +26.3% year-over-year).
- 2014: Revenue of $8.3M, expenses of $7.6M, and assets of $16.3M (revenue +3.5% year-over-year).
- 2013: Revenue of $8.0M, expenses of $7.4M, and assets of $13.0M (revenue +5.8% year-over-year).
- 2012: Revenue of $7.6M, expenses of $6.5M, and assets of $8.9M (revenue +15.8% year-over-year).
- 2011: Revenue of $6.5M, expenses of $6.1M, and assets of $7.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Housing Development Corporation Midatlantic:
Data Sources and Methodology
This transparency report for Housing Development Corporation Midatlantic 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.