Housing Opportunities Corporation
Housing Opportunities Corp: Strong Mission, Financial Stability Concerns
EIN: 222487344 · Providence, RI · NTEE: L020 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $3.7M |
| Total Expenses | $3.4M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $1.2M |
| Transparency Score | 85/100 |
Search Intent Cockpit
Housing Opportunities Corporation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Housing Opportunities Corporation 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 Housing Opportunities Corporation in one place.
Form 990 Filing Summary
11 filing years are available, with latest revenue of $3.2M and expenses of $3.4M.
Revenue and Expenses
Housing Opportunities Corporation reported $3.2M in revenue and $3.4M in expenses, a deficit of $187K.
Executive Compensation
Top officer compensation appears as $0 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
85/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Housing Opportunities Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $2.6M (75%) |
Across stored filings, Housing Opportunities Corporation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 75% to programs | Excellent |
| Financial durability | Grade B | 11 stored filing years |
| Peer context | Compare with Lord Of Glory Ministries Inc | Rhode Island and Category L context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
Compare against real state and category peers.
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All Category L
Local and Sector Spokes
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Providence, RI nonprofitsCategory L in Rhode Island
Human Services in Rhode Island
Follow the Money
Jump into spending, compensation, rankings, and filing-year evidence.
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Keep the Investigation Moving
Housing Opportunities Corporation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Housing Opportunities Corporation
Housing Opportunities Corporation (EIN: 222487344) is a nonprofit organization based in Providence, RI, classified under NTEE code L020. The organization reported total revenue of $3.7M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Housing Opportunities Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Housing Opportunities Corporation is a mid-size nonprofit that has been operating for 30 years, with 11 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $3.4M |
| Surplus / Deficit | $-187,234 |
| Total Assets | $1.7M |
| Total Liabilities | $499K |
| Net Assets | $1.2M |
| Operating Margin | -5.8% |
| Debt-to-Asset Ratio | 29.0% |
| Months of Reserves | 6.1 months |
Financial Health Grade: B
In 2023, Housing Opportunities Corporation reported a deficit of $187K with expenses exceeding revenue, holds 6.1 months of operating reserves (strong position), has a debt-to-asset ratio of 29.0% (moderate leverage).
Financial Trends
Over 11 years of filings (2012–2023), Housing Opportunities Corporation's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.2% | +3.6% | +5.5% |
| 2022 | -9.5% | +4.8% | -14.3% |
| 2021 | +21.5% | +18.8% | +12.0% |
| 2019 | +4.4% | +9.3% | +5.1% |
| 2018 | +3.8% | +4.4% | +12.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Housing Opportunities Corporation with a Mission Score of 85 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Housing Opportunities Corporation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $187K, with expenses exceeding revenue.
- Debt-to-asset ratio: 29.0%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which is highly atypical and warrants further investigation to understand how leadership is compensated or if services are entirely pro-bono.
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 Housing Opportunities Corporation's IRS 990 filings:
- Consistent reporting of $0 executive compensation raises questions about the true cost of leadership and potential hidden compensation structures.
- The organization has consistently spent more than its revenue in recent years (e.g., 2023 expenses of $3,408,256 against revenue of $3,221,022), indicating a reliance on reserves or other funding sources.
- The liability figure has significantly increased from $97,553 in 2021 to $499,124 in 2023, suggesting growing financial obligations.
Strengths
The following positive indicators were identified for Housing Opportunities Corporation:
- The organization has a long operating history with consistent revenue generation over the past decade.
- Total assets have remained relatively stable, indicating a foundational level of financial health despite recent deficits.
- The mission to provide housing opportunities is critical and directly addresses a significant community need.
Frequently Asked Questions about Housing Opportunities Corporation
Is Housing Opportunities Corporation a legitimate charity?
Housing Opportunities Corporation (EIN: 222487344) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 85/100. It has 11 years of IRS 990 filings on record. Total revenue: $3.7M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Housing Opportunities Corporation spend its money?
Housing Opportunities Corporation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Housing Opportunities Corporation tax-deductible?
Housing Opportunities Corporation is registered as a tax-exempt nonprofit (EIN: 222487344). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Housing Opportunities Corporation CEO make?
Housing Opportunities Corporation's highest-compensated officer earns $0 annually. The organization reported $3.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Housing Opportunities Corporation's spending goes to programs?
Housing Opportunities Corporation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Housing Opportunities Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Housing Opportunities Corporation is above average for NTEE category L020 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Housing Opportunities Corporation located?
Housing Opportunities Corporation is headquartered in Providence, Rhode Island and files with the IRS under EIN 222487344. It is classified under NTEE code L020.
How many years of IRS 990 filings does Housing Opportunities Corporation have?
Housing Opportunities Corporation has 11 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 $3.7M in total revenue.
What does Housing Opportunities Corporation do?
Housing Opportunities Corporation is a nonprofit organization in the Housing & Shelter sector, located in Providence, Rhode Island. It is classified under NTEE code L020.
How much revenue does Housing Opportunities Corporation have?
Housing Opportunities Corporation reported total revenue of $3,702,827. Based on 11 IRS 990 filings on record.
What are Housing Opportunities Corporation's total assets?
Housing Opportunities Corporation holds total assets of $1,682,676 as reported in IRS 990 filings.
Where is Housing Opportunities Corporation located?
Housing Opportunities Corporation is based in Providence, Rhode Island.
What is Housing Opportunities Corporation's EIN?
Housing Opportunities Corporation's Employer Identification Number (EIN) is 222487344. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Housing Opportunities Corporation?
Housing Opportunities Corporation is classified under NTEE code L020 (Housing & Shelter).
Is Housing Opportunities Corporation a registered 501(c)(3)?
Yes, Housing Opportunities Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222487344.
Does Housing Opportunities Corporation file IRS Form 990?
Yes, Housing Opportunities Corporation has 11 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Housing Opportunities Corporation's revenue in 2023?
In the 202306 filing period, Housing Opportunities Corporation reported total revenue of $3,221,022, total expenses of $3,408,256, and net assets of $1,721,008.
Is Housing Opportunities Corporation's revenue growing or declining?
Housing Opportunities Corporation's revenue is growing. Revenue went from $2,976,674 (202206) to $3,221,022 (202306), a +8.2% change. Based on 11 filings on record.
What is Housing Opportunities Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Housing Opportunities Corporation covers tax period 202306. It shows revenue of $3,221,022, expenses of $3,408,256, total assets of $1,721,008, and liabilities of $499,124.
How much does Housing Opportunities Corporation spend on programs vs administration?
Based on IRS 990 analysis, Housing Opportunities Corporation allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Housing Opportunities Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Housing Opportunities Corporation appears trustworthy. Mission Score: 85/100 (Excellent). 3 red flags identified. 3 strengths noted.
What are the red flags for Housing Opportunities Corporation?
The following concerns were identified: Consistent reporting of $0 executive compensation raises questions about the true cost of leadership and potential hidden compensation structures.. The organization has consistently spent more than its revenue in recent years (e.g., 2023 expenses of $3,408,256 against revenue of $3,221,022), indicating a reliance on reserves or other funding sources.. The liability figure has significantly increased from $97,553 in 2021 to $499,124 in 2023, suggesting growing financial obligations.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Housing Opportunities Corporation's strengths?
Positive indicators for Housing Opportunities Corporation include: The organization has a long operating history with consistent revenue generation over the past decade.. Total assets have remained relatively stable, indicating a foundational level of financial health despite recent deficits.. The mission to provide housing opportunities is critical and directly addresses a significant community need.. These findings are derived from AI analysis of the organization's financial filings.
How does Housing Opportunities Corporation compensate executives?
Executive compensation is reported as $0 across all available filings, which is highly atypical and warrants further investigation to understand how leadership is compensated or if services are entirely pro-bono. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for executive compensation, how does Housing Opportunities Corporation attract and retain qualified leadership, and what is the actual cost of its administrative oversight?
The consistent $0 executive compensation is a significant anomaly. It suggests either an entirely volunteer-led executive team, compensation being reported under different line items, or a lack of transparency in reporting. Understanding the true administrative costs requires further investigation beyond the provided financial summaries.
With expenses consistently exceeding revenue in recent years, what is the long-term financial sustainability strategy for Housing Opportunities Corporation, and what are the primary sources covering these deficits?
The recurring deficits (e.g., $187,234 in 2023) indicate a reliance on prior year surpluses or other non-operating income. A sustainable strategy would typically involve increasing revenue, reducing expenses, or securing consistent grant funding to cover operational costs. The increasing liabilities also point to potential financial strain.
Filing History
IRS 990 filing history for Housing Opportunities Corporation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2023), Housing Opportunities Corporation's revenue has grown by 60.4%, moving from $2.0M to $3.2M. Total assets increased by 91.2% over the same period, from $900K to $1.7M. Total functional expenses rose by 85.1%, from $1.8M to $3.4M. In its most recent filing year (2023), Housing Opportunities Corporation reported a deficit of $187K, with expenses exceeding revenue. The organization holds $499K in liabilities against $1.7M in assets (debt-to-asset ratio: 29.0%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $3.4M | $1.7M | $499K | — | — |
| 2022 | $3.0M | $3.3M | $1.6M | $223K | — | View 990 |
| 2021 | $3.3M | $3.1M | $1.9M | $98K | — | — |
| 2019 | $2.7M | $2.6M | $1.7M | $68K | — | View 990 |
| 2018 | $2.6M | $2.4M | $1.6M | $48K | — | View 990 |
| 2017 | $2.5M | $2.3M | $1.4M | $40K | — | View 990 |
| 2016 | $2.4M | $2.4M | $1.3M | $52K | — | View 990 |
| 2015 | $2.3M | $2.3M | $1.3M | $61K | — | View 990 |
| 2014 | $2.2M | $2.1M | $1.2M | $45K | — | View 990 |
| 2013 | $2.1M | $1.9M | $1.1M | $5K | — | View 990 |
| 2012 | $2.0M | $1.8M | $900K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $3.4M, and assets of $1.7M (revenue +8.2% year-over-year).
- 2022: Revenue of $3.0M, expenses of $3.3M, and assets of $1.6M (revenue -9.5% year-over-year).
- 2021: Revenue of $3.3M, expenses of $3.1M, and assets of $1.9M (revenue +21.5% year-over-year).
- 2019: Revenue of $2.7M, expenses of $2.6M, and assets of $1.7M (revenue +4.4% year-over-year).
- 2018: Revenue of $2.6M, expenses of $2.4M, and assets of $1.6M (revenue +3.8% year-over-year).
- 2017: Revenue of $2.5M, expenses of $2.3M, and assets of $1.4M (revenue +3.6% year-over-year).
- 2016: Revenue of $2.4M, expenses of $2.4M, and assets of $1.3M (revenue +3.4% year-over-year).
- 2015: Revenue of $2.3M, expenses of $2.3M, and assets of $1.3M (revenue +6.0% year-over-year).
- 2014: Revenue of $2.2M, expenses of $2.1M, and assets of $1.2M (revenue +4.4% year-over-year).
- 2013: Revenue of $2.1M, expenses of $1.9M, and assets of $1.1M (revenue +4.9% year-over-year).
- 2012: Revenue of $2.0M, expenses of $1.8M, and assets of $900K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Housing Opportunities Corporation:
Data Sources and Methodology
This transparency report for Housing Opportunities Corporation 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.