Laurel Homes Housing Development Fund Corp
Laurel Homes Housing Development Fund Corp reports millions in revenue with zero expenses, assets, or liabilities in latest filing.
EIN: 113463946 · Great Neck, NY · NTEE: L21 · Updated: 2026-03-28
Is Laurel Homes Housing Development Fund Corp Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Laurel Homes Housing Development Fund Corp
Laurel Homes Housing Development Fund Corp (EIN: 113463946) is a nonprofit organization based in Great Neck, NY, classified under NTEE code L21. The organization reported total revenue of $2.6M and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Laurel Homes Housing Development Fund Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Laurel Homes Housing Development Fund Corp with a Mission Score of 10 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.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Laurel Homes Housing Development Fund Corp allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating no salaries or other compensation paid to officers, directors, trustees, or key employees. This is unusual for an organization with significant revenue, such as the $2,580,315 reported in 2019.
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 Laurel Homes Housing Development Fund Corp's IRS 990 filings:
- Consistent reporting of $0 expenses across all filings, despite significant revenue (e.g., $2,580,315 in 2019).
- Reporting $0 assets and $0 liabilities in the latest filing (2019) after reporting assets and substantial liabilities in prior years (e.g., $631,715 in liabilities in 2018).
- Inability to assess spending efficiency due to lack of reported expenses.
- Lack of transparency in financial operations due to incomplete and inconsistent reporting.
- Significant revenue reported without any corresponding operational costs or program expenditures.
Strengths
The following positive indicators were identified for Laurel Homes Housing Development Fund Corp:
- Consistently reports 0% officer compensation, indicating no direct financial benefit to executives from the organization's funds.
Frequently Asked Questions about Laurel Homes Housing Development Fund Corp
Is Laurel Homes Housing Development Fund Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Laurel Homes Housing Development Fund Corp (EIN: 113463946) significant concerns. Mission Score: 10/100. 5 red flags identified, 1 strength noted.
How does Laurel Homes Housing Development Fund Corp spend its money?
Detailed spending breakdown data is not yet available for Laurel Homes Housing Development Fund Corp. Check back for updated IRS 990 analysis.
Are donations to Laurel Homes Housing Development Fund Corp tax-deductible?
Laurel Homes Housing Development Fund Corp is registered as a tax-exempt nonprofit (EIN: 113463946). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why does Laurel Homes Housing Development Fund Corp consistently report $0 in expenses across all filings, including the latest with over $2.5 million in revenue?
The IRS 990 data consistently shows $0 in expenses, which is highly unusual for an organization reporting revenue. This could indicate a specific financial structure, such as acting as a pass-through entity, or significant reporting errors. Without further clarification from the organization, it's impossible to determine how funds are being used.
What happened to the liabilities and assets that were reported in previous years, given the latest filing shows $0 for both?
In 2018, the organization reported $100 in assets and $631,715 in liabilities, but the 2019 filing shows $0 for both. This drastic change without any reported expenses or corresponding financial activity is a significant discrepancy that requires explanation.
How does Laurel Homes Housing Development Fund Corp operate without any reported expenses?
The consistent reporting of $0 expenses across all filings, despite varying revenue figures, makes it impossible to understand the operational model. It suggests either a highly unusual operational structure where all costs are borne by another entity, or a fundamental issue with financial reporting.
Is the reported revenue of $2,580,315 in 2019 actually being used for its housing development mission?
Given the $0 reported expenses, it is impossible to verify if the revenue is being applied to the organization's stated mission. The financial data does not provide any evidence of program spending or operational costs.
Filing History
IRS 990 filing history for Laurel Homes Housing Development Fund Corp showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), Laurel Homes Housing Development Fund Corp's revenue has grown by 23457309.1%, moving from $11 to $2.6M. Total assets decreased by 100% over the same period, from $100 to $0. Total functional expenses fell by 100%, from $2K to $0.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2019 | $2.6M | $0 | $0 | $0 | — | View 990 |
| 2018 | $19K | $0 | $100 | $632K | — | View 990 |
| 2017 | $1K | $0 | $100 | $330K | — | View 990 |
| 2016 | $34K | $0 | $100 | $24K | — | View 990 |
| 2015 | $79K | $0 | $225K | $962 | — | View 990 |
| 2014 | $5 | $147 | $103 | $36K | — | View 990 |
| 2013 | $6 | $2K | $100 | $36K | — | View 990 |
| 2012 | $11 | $3K | $100 | $34K | — | View 990 |
| 2011 | $11 | $2K | $100 | $31K | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $2.6M, expenses of $0, and assets of $0 (revenue +13268.8% year-over-year).
- 2018: Revenue of $19K, expenses of $0, and assets of $100 (revenue +1341.4% year-over-year).
- 2017: Revenue of $1K, expenses of $0, and assets of $100 (revenue -96.1% year-over-year).
- 2016: Revenue of $34K, expenses of $0, and assets of $100 (revenue -56.7% year-over-year).
- 2015: Revenue of $79K, expenses of $0, and assets of $225K (revenue +1573140.0% year-over-year).
- 2014: Revenue of $5, expenses of $147, and assets of $103 (revenue -16.7% year-over-year).
- 2013: Revenue of $6, expenses of $2K, and assets of $100 (revenue -45.5% year-over-year).
- 2012: Revenue of $11, expenses of $3K, and assets of $100 (revenue +0.0% year-over-year).
- 2011: Revenue of $11, expenses of $2K, and assets of $100.
Data Sources and Methodology
This transparency report for Laurel Homes 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.