Israel Senior Citizens Housing Development Fund Corp
Israel Senior Citizens Housing Development Fund Corp shows fluctuating financial health with increasing liabilities, despite consistent revenue growth and zero reported officer compensation.
EIN: 112077747 · New York, NY · NTEE: L22Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $12.2M |
| Total Expenses | $9.4M |
| Program Spending | 85% |
| Net Assets | $-13,379,957 |
| Transparency Score | 65/100 |
Is Israel Senior Citizens Housing Development Fund Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Israel Senior Citizens Housing Development Fund Corp directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Israel Senior Citizens Housing Development Fund Corp
Israel Senior Citizens Housing Development Fund Corp (EIN: 112077747) is a nonprofit organization based in New York, NY, classified under NTEE code L22Z. The organization reported total revenue of $12.2M and total assets of $35.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Israel Senior Citizens Housing Development Fund Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Israel Senior Citizens Housing Development Fund Corp is a large nonprofit that has been operating for 59 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.4M |
| Total Expenses | $9.4M |
| Surplus / Deficit | +$2.0M |
| Total Assets | $59.7M |
| Total Liabilities | $73.0M |
| Net Assets | $-13,379,957 |
| Operating Margin | 17.4% |
| Debt-to-Asset Ratio | 122.4% |
| Months of Reserves | 76.1 months |
Financial Health Grade: A
In 2023, Israel Senior Citizens Housing Development Fund Corp reported a surplus of $2.0M with revenue exceeding expenses, holds 76.1 months of operating reserves (strong position), has a debt-to-asset ratio of 122.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Israel Senior Citizens Housing Development Fund Corp's revenue has grown at a compound annual growth rate (CAGR) of 7.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.5% | +21.9% | +1.3% |
| 2022 | +20.1% | -72.8% | +4.1% |
| 2021 | +58.7% | +376.5% | +339.0% |
| 2020 | +6.1% | +2.4% | -3.1% |
| 2019 | -1.8% | -1.4% | -7.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1967 |
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 Israel Senior Citizens Housing Development Fund Corp with a Mission Score of 65 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, Israel Senior Citizens Housing Development Fund Corp 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 $2.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 122.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to officers, directors, or trustees, which is highly unusual for an organization of its size and asset base.
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 Israel Senior Citizens Housing Development Fund Corp's IRS 990 filings:
- Significant increase in liabilities, often exceeding assets, in recent years (e.g., $73,034,657 liabilities vs. $59,654,700 assets in 2023).
- One-time massive expense spike in 2021 ($28,393,926) without clear explanation in summary data.
- Unusually high liabilities relative to assets, potentially indicating financial strain or significant debt burden.
Strengths
The following positive indicators were identified for Israel Senior Citizens Housing Development Fund Corp:
- Consistent revenue growth over the past several years, from $5,503,787 in 2020 to $11,385,545 in 2023.
- Zero reported officer compensation across all filings, indicating a potential commitment to minimizing administrative overhead at the executive level.
- Positive net income in recent years (e.g., 2022 and 2023), showing operational surpluses after the 2021 anomaly.
Frequently Asked Questions about Israel Senior Citizens Housing Development Fund Corp
Is Israel Senior Citizens Housing Development Fund Corp a legitimate charity?
Israel Senior Citizens Housing Development Fund Corp (EIN: 112077747) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $12.2M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Israel Senior Citizens Housing Development Fund Corp spend its money?
Israel Senior Citizens Housing Development Fund Corp directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Israel Senior Citizens Housing Development Fund Corp tax-deductible?
Israel Senior Citizens Housing Development Fund Corp is registered as a tax-exempt nonprofit (EIN: 112077747). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Israel Senior Citizens Housing Development Fund Corp's spending goes to programs?
Israel Senior Citizens Housing Development Fund Corp directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Israel Senior Citizens Housing Development Fund Corp compare to similar nonprofits?
With a transparency score of 65/100 (Good), Israel Senior Citizens Housing Development Fund Corp is above average for NTEE category L22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Israel Senior Citizens Housing Development Fund Corp located?
Israel Senior Citizens Housing Development Fund Corp is headquartered in New York, New York and files with the IRS under EIN 112077747. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does Israel Senior Citizens Housing Development Fund Corp have?
Israel Senior Citizens Housing Development Fund Corp 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 $12.2M in total revenue.
What caused the significant increase in expenses in fiscal year 2021 ($28,393,926) compared to prior and subsequent years?
The 2021 filing shows a substantial spike in expenses, which is an outlier compared to other years. Understanding the nature of these expenses (e.g., a major capital project, debt repayment, or an accounting adjustment) is crucial for assessing financial stability.
Why have liabilities grown so significantly, reaching $73,034,657 in 2023, often exceeding total assets?
The consistent increase in liabilities, particularly in recent years where they surpass assets, suggests a reliance on debt or other obligations. This could impact the organization's long-term solvency and ability to fund its mission.
How does the organization operate with 0% reported officer compensation?
It is highly uncommon for an organization with over $10 million in annual revenue and tens of millions in assets to report no officer compensation. This could indicate that leadership is entirely volunteer-based, compensated through a related entity, or that compensation is reported under a different category.
Filing History
IRS 990 filing history for Israel Senior Citizens Housing Development Fund Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Israel Senior Citizens Housing Development Fund Corp's revenue has grown by 138.5%, moving from $4.8M to $11.4M. Total assets increased by 925.6% over the same period, from $5.8M to $59.7M. Total functional expenses rose by 116.2%, from $4.4M to $9.4M. In its most recent filing year (2023), Israel Senior Citizens Housing Development Fund Corp reported a surplus of $2.0M, with revenue exceeding expenses. The organization holds $73.0M in liabilities against $59.7M in assets (debt-to-asset ratio: 122.4%), resulting in net assets of $-13,379,957.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.4M | $9.4M | $59.7M | $73.0M | — | — |
| 2022 | $10.5M | $7.7M | $58.9M | $74.2M | — | View 990 |
| 2021 | $8.7M | $28.4M | $56.6M | $74.7M | — | View 990 |
| 2020 | $5.5M | $6.0M | $12.9M | $11.4M | — | View 990 |
| 2019 | $5.2M | $5.8M | $13.3M | $11.3M | — | View 990 |
| 2018 | $5.3M | $5.9M | $14.4M | $11.8M | — | View 990 |
| 2017 | $5.2M | $5.7M | $14.9M | $11.7M | — | — |
| 2016 | $5.5M | $5.2M | $15.8M | $12.1M | — | View 990 |
| 2015 | $5.2M | $4.9M | $16.4M | $13.0M | — | View 990 |
| 2014 | $2.5M | $2.5M | $15.9M | $12.7M | — | View 990 |
| 2013 | $5.3M | $5.1M | $15.9M | $12.7M | — | View 990 |
| 2012 | $4.8M | $4.4M | $6.0M | $3.1M | — | View 990 |
| 2011 | $4.8M | $4.4M | $5.8M | $3.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.4M, expenses of $9.4M, and assets of $59.7M (revenue +8.5% year-over-year).
- 2022: Revenue of $10.5M, expenses of $7.7M, and assets of $58.9M (revenue +20.1% year-over-year).
- 2021: Revenue of $8.7M, expenses of $28.4M, and assets of $56.6M (revenue +58.7% year-over-year).
- 2020: Revenue of $5.5M, expenses of $6.0M, and assets of $12.9M (revenue +6.1% year-over-year).
- 2019: Revenue of $5.2M, expenses of $5.8M, and assets of $13.3M (revenue -1.8% year-over-year).
- 2018: Revenue of $5.3M, expenses of $5.9M, and assets of $14.4M (revenue +2.0% year-over-year).
- 2017: Revenue of $5.2M, expenses of $5.7M, and assets of $14.9M (revenue -5.5% year-over-year).
- 2016: Revenue of $5.5M, expenses of $5.2M, and assets of $15.8M (revenue +5.1% year-over-year).
- 2015: Revenue of $5.2M, expenses of $4.9M, and assets of $16.4M (revenue +105.6% year-over-year).
- 2014: Revenue of $2.5M, expenses of $2.5M, and assets of $15.9M (revenue -52.5% year-over-year).
- 2013: Revenue of $5.3M, expenses of $5.1M, and assets of $15.9M (revenue +11.7% year-over-year).
- 2012: Revenue of $4.8M, expenses of $4.4M, and assets of $6.0M (revenue +0.1% year-over-year).
- 2011: Revenue of $4.8M, expenses of $4.4M, and assets of $5.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Israel Senior Citizens Housing Development Fund Corp:
Data Sources and Methodology
This transparency report for Israel Senior Citizens Housing Development Fund Corp 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.