Hunts Point Housing Development Fund Corporation
Hunts Point Housing Development Fund Corporation maintains stable operations with high liabilities, showing recent positive net income after several years of expenses exceeding revenue.
EIN: 133574304 · Bronx, NY · NTEE: L20Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.3M |
| Total Expenses | $5.2M |
| Program Spending | 85% |
| Net Assets | $-22,767,536 |
| Transparency Score | 75/100 |
Is Hunts Point Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hunts Point Housing Development Fund Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hunts Point Housing Development Fund Corporation
Hunts Point Housing Development Fund Corporation (EIN: 133574304) is a nonprofit organization based in Bronx, NY, classified under NTEE code L20Z. The organization reported total revenue of $7.3M and total assets of $12.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hunts Point Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hunts Point Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.4M |
| Total Expenses | $5.2M |
| Surplus / Deficit | +$270K |
| Total Assets | $13.6M |
| Total Liabilities | $36.4M |
| Net Assets | $-22,767,536 |
| Operating Margin | 5.0% |
| Debt-to-Asset Ratio | 267.4% |
| Months of Reserves | 31.6 months |
Financial Health Grade: A
In 2023, Hunts Point Housing Development Fund Corporation reported a surplus of $270K with revenue exceeding expenses, holds 31.6 months of operating reserves (strong position), has a debt-to-asset ratio of 267.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hunts Point Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.1% | -5.5% | +0.2% |
| 2022 | -2.0% | -5.5% | -4.5% |
| 2021 | +3.7% | +0.8% | -6.0% |
| 2020 | -0.2% | -6.7% | -2.5% |
| 2019 | +1.6% | +17.9% | -6.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Hunts Point Housing Development Fund Corporation with a Mission Score of 75 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Hunts Point Housing Development Fund Corporation 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 $270K, with revenue exceeding expenses.
- Debt-to-asset ratio: 267.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is a strong indicator of either volunteer leadership or compensation being covered by an affiliated entity, suggesting resources are not diverted to high executive salaries.
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 Hunts Point Housing Development Fund Corporation's IRS 990 filings:
- High liabilities relative to assets, indicating a highly leveraged financial structure.
- History of expenses exceeding revenue in multiple periods (e.g., 2019-2022), potentially drawing down reserves.
Strengths
The following positive indicators were identified for Hunts Point Housing Development Fund Corporation:
- Consistent revenue generation, typically between $5 million and $6 million annually.
- Zero reported officer compensation, suggesting efficient use of funds for mission-related activities.
- Positive net income in the most recent filing (2023), indicating improved financial management.
- Long operating history with 13 filings, demonstrating sustained commitment to its mission.
Frequently Asked Questions about Hunts Point Housing Development Fund Corporation
Is Hunts Point Housing Development Fund Corporation a legitimate charity?
Hunts Point Housing Development Fund Corporation (EIN: 133574304) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $7.3M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Hunts Point Housing Development Fund Corporation spend its money?
Hunts Point Housing Development Fund Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Hunts Point Housing Development Fund Corporation tax-deductible?
Hunts Point Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 133574304). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hunts Point Housing Development Fund Corporation's spending goes to programs?
Hunts Point Housing Development Fund Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hunts Point Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Hunts Point Housing Development Fund Corporation is above average for NTEE category L20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hunts Point Housing Development Fund Corporation located?
Hunts Point Housing Development Fund Corporation is headquartered in Bronx, New York and files with the IRS under EIN 133574304. It is classified under NTEE code L20Z.
How many years of IRS 990 filings does Hunts Point Housing Development Fund Corporation have?
Hunts Point Housing Development Fund Corporation 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 $7.3M in total revenue.
How does Hunts Point Housing Development Fund Corporation manage its significant liabilities?
The organization consistently carries high liabilities, ranging from $36 million to $39 million. This is typical for housing development funds that often use debt financing for property acquisition and development. The stability of these liabilities over time suggests a structured approach to debt management, likely tied to long-term mortgages or development loans.
What is the primary source of funding for Hunts Point Housing Development Fund Corporation?
While specific funding sources are not detailed in the provided data, the consistent revenue figures (around $5-6 million annually) for a housing development fund suggest a mix of rental income, government grants, and potentially development fees or interest income from properties. Further investigation into their 990s would be needed for specifics.
Why have assets been declining over the past decade?
Assets have gradually declined from $18.7 million in 2014 to $13.6 million in 2023. This could be due to depreciation of properties, sale of assets without immediate reinvestment, or a shift in the organization's asset management strategy. It warrants further review of their balance sheet details.
Is the organization financially sustainable given its history of expenses exceeding revenue?
The organization has experienced periods where expenses exceeded revenue (e.g., 2022, 2021, 2020, 2019). However, the most recent filing for 2023 shows a positive net income ($5,435,815 revenue vs. $5,165,909 expenses). This suggests a return to financial stability, potentially through improved revenue generation or cost control. The consistent asset base, despite the decline, indicates underlying stability.
Filing History
IRS 990 filing history for Hunts Point Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hunts Point Housing Development Fund Corporation's revenue has grown by 26.8%, moving from $4.3M to $5.4M. Total assets decreased by 24% over the same period, from $17.9M to $13.6M. Total functional expenses fell by 5.1%, from $5.4M to $5.2M. In its most recent filing year (2023), Hunts Point Housing Development Fund Corporation reported a surplus of $270K, with revenue exceeding expenses. The organization holds $36.4M in liabilities against $13.6M in assets (debt-to-asset ratio: 267.4%), resulting in net assets of $-22,767,536.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.4M | $5.2M | $13.6M | $36.4M | — | — |
| 2022 | $5.3M | $5.5M | $13.6M | $36.6M | — | View 990 |
| 2021 | $5.4M | $5.8M | $14.2M | $37.0M | — | View 990 |
| 2020 | $5.2M | $5.7M | $15.1M | $37.6M | — | View 990 |
| 2019 | $5.2M | $6.1M | $15.5M | $37.5M | — | View 990 |
| 2018 | $5.2M | $5.2M | $16.7M | $37.8M | — | View 990 |
| 2017 | $5.2M | $5.0M | $17.1M | $38.1M | — | View 990 |
| 2016 | $5.1M | $5.4M | $17.5M | $38.8M | — | View 990 |
| 2015 | $5.0M | $5.0M | $18.1M | $39.1M | — | View 990 |
| 2014 | $4.8M | $4.8M | $18.7M | $39.7M | — | View 990 |
| 2013 | $4.5M | $5.0M | $17.9M | $38.9M | — | View 990 |
| 2012 | $5.1M | $4.9M | $17.8M | $38.3M | — | View 990 |
| 2011 | $4.3M | $5.4M | $17.9M | $38.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.4M, expenses of $5.2M, and assets of $13.6M (revenue +2.1% year-over-year).
- 2022: Revenue of $5.3M, expenses of $5.5M, and assets of $13.6M (revenue -2.0% year-over-year).
- 2021: Revenue of $5.4M, expenses of $5.8M, and assets of $14.2M (revenue +3.7% year-over-year).
- 2020: Revenue of $5.2M, expenses of $5.7M, and assets of $15.1M (revenue -0.2% year-over-year).
- 2019: Revenue of $5.2M, expenses of $6.1M, and assets of $15.5M (revenue +1.6% year-over-year).
- 2018: Revenue of $5.2M, expenses of $5.2M, and assets of $16.7M (revenue -1.0% year-over-year).
- 2017: Revenue of $5.2M, expenses of $5.0M, and assets of $17.1M (revenue +2.7% year-over-year).
- 2016: Revenue of $5.1M, expenses of $5.4M, and assets of $17.5M (revenue +1.3% year-over-year).
- 2015: Revenue of $5.0M, expenses of $5.0M, and assets of $18.1M (revenue +3.3% year-over-year).
- 2014: Revenue of $4.8M, expenses of $4.8M, and assets of $18.7M (revenue +8.1% year-over-year).
- 2013: Revenue of $4.5M, expenses of $5.0M, and assets of $17.9M (revenue -12.0% year-over-year).
- 2012: Revenue of $5.1M, expenses of $4.9M, and assets of $17.8M (revenue +18.9% year-over-year).
- 2011: Revenue of $4.3M, expenses of $5.4M, and assets of $17.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hunts Point Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Hunts Point Housing Development Fund 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.