Kinston Towers I

Kinston Towers I maintains stable revenue and 0% officer compensation, but consistently reports liabilities exceeding assets.

EIN: 208502305 · Kinston, NC · NTEE: L21 · Updated: 2026-03-28

$1.6MRevenue

$2.0MAssets

75/100Mission Score (Good)

L21

About Kinston Towers I

Kinston Towers I (EIN: 208502305) is a nonprofit organization based in Kinston, NC, classified under NTEE code L21. The organization reported total revenue of $1.6M and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kinston Towers I's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Kinston Towers I, operating under NTEE code L21 (Housing, Shelter), demonstrates consistent financial activity primarily focused on its program services. Over the past decade, its revenue has steadily increased from $1,053,518 in 2014 to $1,261,907 in 2023, indicating stable operational funding. The organization consistently reports 0% officer compensation, which suggests a volunteer-led or externally managed executive structure, enhancing its transparency regarding leadership costs. However, a notable trend is the organization's liabilities consistently exceeding its assets, with liabilities at $2,028,884 against assets of $1,674,289 in 2023. This negative net asset position warrants closer examination to understand the long-term financial stability and funding model, especially concerning debt management or specific asset classifications.

Spending efficiency appears to be reasonable, with expenses generally tracking below revenue, allowing for some accumulation of net assets in recent years (e.g., $1,261,907 revenue vs. $1,055,188 expenses in 2023). The absence of reported officer compensation is a strong indicator of efficient use of funds at the executive level. However, without a detailed breakdown of program, administrative, and fundraising expenses in the provided data, a precise assessment of spending efficiency across these categories is limited. The consistent operational surplus in recent years suggests the organization is managing its day-to-day costs effectively relative to its income.

Transparency regarding executive compensation is excellent, with 0% reported. However, the overall financial transparency could be enhanced by providing more granular detail on expense allocation beyond just total expenses. The consistent negative net asset position, while not necessarily a red flag for all housing organizations (which may carry significant debt for property acquisition/maintenance), does require further context for a complete understanding of its financial health. The organization's consistent filing history over 13 periods indicates a commitment to regulatory compliance.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Kinston Towers I 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: 90%
fundraising: 0%

According to IRS 990 filings, Kinston Towers I allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported at 0% across all available filings, indicating that no compensation is paid to officers, which is highly unusual for an organization of its size with over $1 million in annual revenue and nearly $2 million in assets.

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 Kinston Towers I's IRS 990 filings:

Consistent negative net asset position (liabilities exceed assets in all reported periods)
Lack of detailed expense breakdown beyond total expenses, limiting granular spending efficiency analysis
0% officer compensation for an organization of this size is unusual and warrants further inquiry into executive management structure and costs.

Strengths

The following positive indicators were identified for Kinston Towers I:

Consistent revenue growth over the past decade (from $1,053,518 in 2014 to $1,261,907 in 2023)
Excellent transparency regarding executive compensation (0% reported)
Consistent operational surpluses in recent years (e.g., $1,261,907 revenue vs. $1,055,188 expenses in 2023)
Long history of IRS 990 filings (13 filings), indicating regulatory compliance

Frequently Asked Questions about Kinston Towers I

Is Kinston Towers I financially stable given its negative net asset position?

While Kinston Towers I consistently reports liabilities exceeding assets (e.g., $2,028,884 liabilities vs. $1,674,289 assets in 2023), this may be typical for housing organizations that carry significant mortgage debt for their properties. Further analysis of the nature of these liabilities (e.g., long-term debt vs. short-term payables) is needed to fully assess long-term stability.

How does Kinston Towers I manage its operations without paying officer compensation?

The consistent reporting of 0% officer compensation suggests that the organization may be entirely volunteer-led at the executive level, or that executive functions are outsourced to a management company whose fees are categorized elsewhere (e.g., administrative expenses) rather than as direct officer compensation.

What is the primary source of Kinston Towers I's revenue?

Based on its NTEE code (L21 - Housing, Shelter) and consistent revenue, it is highly probable that the primary source of revenue is rental income from its housing units, potentially supplemented by government subsidies or grants related to affordable housing.

Filing History

IRS 990 filing history for Kinston Towers I showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Kinston Towers I's revenue has grown by 20.2%, moving from $1.0M to $1.3M. Total assets increased by 7% over the same period, from $1.6M to $1.7M. Total functional expenses fell by 0.3%, from $1.1M to $1.1M. In its most recent filing year (2023), Kinston Towers I reported a surplus of $207K, with revenue exceeding expenses. The organization holds $2.0M in liabilities against $1.7M in assets (debt-to-asset ratio: 121.2%), resulting in net assets of $-354,595.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.3M	$1.1M	$1.7M	$2.0M	—	View 990
2022	$1.2M	$1.0M	$1.6M	$2.1M	—	View 990
2021	$1.2M	$1.0M	$1.3M	$2.0M	—	View 990
2020	$1.2M	$920K	$1.2M	$2.1M	—	View 990
2019	$1.2M	$1.0M	$1.1M	$2.2M	—	View 990
2018	$1.1M	$1.1M	$1.1M	$2.3M	—	View 990
2017	$1.2M	$1.1M	$1.2M	$2.4M	—	View 990
2016	$1.1M	$1.1M	$1.2M	$2.5M	—	View 990
2015	$1.1M	$1.0M	$1.3M	$2.7M	—	View 990
2014	$1.1M	$1.1M	$1.5M	$2.9M	—	View 990
2013	$1.2M	$1.1M	$1.7M	$2.9M	—	View 990
2012	$1.1M	$1.0M	$1.5M	$2.8M	—	View 990
2011	$1.0M	$1.1M	$1.6M	$2.9M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.3M, expenses of $1.1M, and assets of $1.7M (revenue +3.9% year-over-year).
2022: Revenue of $1.2M, expenses of $1.0M, and assets of $1.6M (revenue +5.5% year-over-year).
2021: Revenue of $1.2M, expenses of $1.0M, and assets of $1.3M (revenue -0.2% year-over-year).
2020: Revenue of $1.2M, expenses of $920K, and assets of $1.2M (revenue -0.2% year-over-year).
2019: Revenue of $1.2M, expenses of $1.0M, and assets of $1.1M (revenue +2.5% year-over-year).
2018: Revenue of $1.1M, expenses of $1.1M, and assets of $1.1M (revenue -2.7% year-over-year).
2017: Revenue of $1.2M, expenses of $1.1M, and assets of $1.2M (revenue +1.4% year-over-year).
2016: Revenue of $1.1M, expenses of $1.1M, and assets of $1.2M (revenue +2.5% year-over-year).
2015: Revenue of $1.1M, expenses of $1.0M, and assets of $1.3M (revenue +5.8% year-over-year).
2014: Revenue of $1.1M, expenses of $1.1M, and assets of $1.5M (revenue -10.7% year-over-year).
2013: Revenue of $1.2M, expenses of $1.1M, and assets of $1.7M (revenue +10.5% year-over-year).
2012: Revenue of $1.1M, expenses of $1.0M, and assets of $1.5M (revenue +1.7% year-over-year).
2011: Revenue of $1.0M, expenses of $1.1M, and assets of $1.6M.

Data Sources and Methodology

This transparency report for Kinston Towers I 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.