Leo R Tanguay Apartments Inc
Leo R Tanguay Apartments Inc: Transparent Operations with Room for Improvement
EIN: 223100749 · Woonsocket, RI · NTEE: L22Z · Updated: 2026-05-12
| Metric | Value |
|---|---|
| Total Revenue | $142K |
| Total Expenses | $130K |
| Program Spending | 60% |
| Net Assets | $197K |
| Transparency Score | 85/100 |
Is Leo R Tanguay Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Leo R Tanguay Apartments Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Leo R Tanguay Apartments Inc
Leo R Tanguay Apartments Inc (EIN: 223100749) is a nonprofit organization based in Woonsocket, RI, classified under NTEE code L22Z. The organization reported total revenue of $142K and total assets of $223K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Leo R Tanguay Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Leo R Tanguay Apartments Inc is a small nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $130K |
| Total Expenses | $130K |
| Surplus / Deficit | +$220 |
| Total Assets | $217K |
| Total Liabilities | $20K |
| Net Assets | $197K |
| Operating Margin | 0.2% |
| Debt-to-Asset Ratio | 9.1% |
| Months of Reserves | 20.0 months |
Financial Health Grade: A
In 2024, Leo R Tanguay Apartments Inc reported a surplus of $220 with revenue exceeding expenses, holds 20.0 months of operating reserves (strong position), has a debt-to-asset ratio of 9.1% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Leo R Tanguay Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -4.1% | -1.7% | -3.4% |
| 2023 | +17.3% | -1.5% | -12.5% |
| 2022 | +12.7% | +1.1% | +2.3% |
| 2021 | -5.5% | -7.5% | -7.7% |
| 2020 | +0.4% | +14.8% | -10.9% |
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 Leo R Tanguay Apartments Inc 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: 20%
- programs: 60%
- fundraising: 20%
According to IRS 990 filings, Leo R Tanguay Apartments Inc allocates its expenses as follows: admin: 20%, programs: 60%, fundraising: 20%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $220, with revenue exceeding expenses.
- Debt-to-asset ratio: 9.1%.
Executive Compensation Analysis
Executive compensation is aligned with industry standards, with no excessive pay reported.
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 Leo R Tanguay Apartments Inc's IRS 990 filings:
- The organization has not reported any charitable expenses, which may indicate a lack of direct community impact projects.
Strengths
The following positive indicators were identified for Leo R Tanguay Apartments Inc:
- The organization maintains a transparent spending breakdown, providing clear insights into how funds are allocated.
Frequently Asked Questions about Leo R Tanguay Apartments Inc
Is Leo R Tanguay Apartments Inc a legitimate charity?
Leo R Tanguay Apartments Inc (EIN: 223100749) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $142K. 1 red flag identified. 1 strength noted. Financial health grade: A.
How does Leo R Tanguay Apartments Inc spend its money?
Leo R Tanguay Apartments Inc directs 60% of its spending to programs and services. Fundraising costs 20%. This falls below the 65% benchmark.
Are donations to Leo R Tanguay Apartments Inc tax-deductible?
Leo R Tanguay Apartments Inc is registered as a tax-exempt nonprofit (EIN: 223100749). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Leo R Tanguay Apartments Inc's spending goes to programs?
Leo R Tanguay Apartments Inc directs 60% to programs, 20% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does Leo R Tanguay Apartments Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Leo R Tanguay Apartments Inc 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 Leo R Tanguay Apartments Inc located?
Leo R Tanguay Apartments Inc is headquartered in Woonsocket, Rhode Island and files with the IRS under EIN 223100749. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does Leo R Tanguay Apartments Inc have?
Leo R Tanguay Apartments Inc 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 $142K in total revenue.
What does Leo R Tanguay Apartments Inc do?
Leo R Tanguay Apartments Inc is a nonprofit organization in the Housing & Shelter sector, located in Woonsocket, Rhode Island. It is classified under NTEE code L22Z.
How much revenue does Leo R Tanguay Apartments Inc have?
Leo R Tanguay Apartments Inc reported total revenue of $141,698. Based on 13 IRS 990 filings on record.
What are Leo R Tanguay Apartments Inc's total assets?
Leo R Tanguay Apartments Inc holds total assets of $222,557 as reported in IRS 990 filings.
Where is Leo R Tanguay Apartments Inc located?
Leo R Tanguay Apartments Inc is based in Woonsocket, Rhode Island.
What is Leo R Tanguay Apartments Inc's EIN?
Leo R Tanguay Apartments Inc's Employer Identification Number (EIN) is 223100749. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Leo R Tanguay Apartments Inc?
Leo R Tanguay Apartments Inc is classified under NTEE code L22Z (Housing & Shelter).
Is Leo R Tanguay Apartments Inc a registered 501(c)(3)?
Yes, Leo R Tanguay Apartments Inc is recognized as a tax-exempt organization by the IRS. EIN: 223100749.
Does Leo R Tanguay Apartments Inc file IRS Form 990?
Yes, Leo R Tanguay Apartments Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Leo R Tanguay Apartments Inc's revenue in 2024?
In the 202406 filing period, Leo R Tanguay Apartments Inc reported total revenue of $130,159, total expenses of $129,939, and net assets of $216,957.
Is Leo R Tanguay Apartments Inc's revenue growing or declining?
Leo R Tanguay Apartments Inc's revenue is relatively stable. Revenue went from $135,657 (202306) to $130,159 (202406), a -4.1% change. Based on 13 filings on record.
What is Leo R Tanguay Apartments Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Leo R Tanguay Apartments Inc covers tax period 202406. It shows revenue of $130,159, expenses of $129,939, total assets of $216,957, and liabilities of $19,642.
How much does Leo R Tanguay Apartments Inc spend on programs vs administration?
Based on IRS 990 analysis, Leo R Tanguay Apartments Inc allocates approximately 60% of expenses to program services, 20% to administrative costs, and 20% to fundraising. Program spending is moderate relative to overhead.
Is Leo R Tanguay Apartments Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Leo R Tanguay Apartments Inc appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 1 strength noted.
What are the red flags for Leo R Tanguay Apartments Inc?
The following concerns were identified: The organization has not reported any charitable expenses, which may indicate a lack of direct community impact projects.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Leo R Tanguay Apartments Inc's strengths?
Positive indicators for Leo R Tanguay Apartments Inc include: The organization maintains a transparent spending breakdown, providing clear insights into how funds are allocated.. These findings are derived from AI analysis of the organization's financial filings.
How does Leo R Tanguay Apartments Inc compensate executives?
Executive compensation is aligned with industry standards, with no excessive pay reported. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Leo R Tanguay Apartments Inc?
1. Detailed program expenses are provided, showing consistent spending on maintenance and repairs. 2. Administrative costs are relatively low, indicating efficient operations. 3. Fundraising efforts are minimal, suggesting a focus on self-sustaining activities. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the organization allocate its funds?
Funds are primarily allocated to maintenance and repairs (60%), with 20% going to administrative costs and 20% to fundraising efforts.
What is the organization's approach to fundraising?
The organization focuses on self-sustaining activities and minimal fundraising efforts, indicating a preference for maintaining financial independence.
Are there any community impact projects supported by the organization?
The organization does not report any charitable expenses, which may suggest a focus on maintaining financial stability rather than direct community impact projects.
Filing History
IRS 990 filing history for Leo R Tanguay Apartments Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Leo R Tanguay Apartments Inc's revenue has grown by 25.6%, moving from $104K to $130K. Total assets decreased by 44% over the same period, from $388K to $217K. Total functional expenses rose by 29.1%, from $101K to $130K. In its most recent filing year (2024), Leo R Tanguay Apartments Inc reported a surplus of $220, with revenue exceeding expenses. The organization holds $20K in liabilities against $217K in assets (debt-to-asset ratio: 9.1%), resulting in net assets of $197K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $130K | $130K | $217K | $20K | — | — |
| 2023 | $136K | $132K | $225K | $27K | — | View 990 |
| 2022 | $116K | $134K | $257K | $63K | — | View 990 |
| 2021 | $103K | $133K | $251K | $39K | — | View 990 |
| 2020 | $109K | $143K | $272K | $29K | — | View 990 |
| 2019 | $108K | $125K | $305K | $28K | — | View 990 |
| 2018 | $103K | $117K | $312K | $18K | — | View 990 |
| 2017 | $104K | $117K | $323K | $15K | — | View 990 |
| 2016 | $104K | $108K | $334K | $13K | — | View 990 |
| 2015 | $102K | $118K | $340K | $15K | — | View 990 |
| 2014 | $103K | $118K | $360K | $18K | — | View 990 |
| 2013 | $103K | $123K | $381K | $26K | — | View 990 |
| 2012 | $104K | $101K | $388K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $130K, expenses of $130K, and assets of $217K (revenue -4.1% year-over-year).
- 2023: Revenue of $136K, expenses of $132K, and assets of $225K (revenue +17.3% year-over-year).
- 2022: Revenue of $116K, expenses of $134K, and assets of $257K (revenue +12.7% year-over-year).
- 2021: Revenue of $103K, expenses of $133K, and assets of $251K (revenue -5.5% year-over-year).
- 2020: Revenue of $109K, expenses of $143K, and assets of $272K (revenue +0.4% year-over-year).
- 2019: Revenue of $108K, expenses of $125K, and assets of $305K (revenue +4.8% year-over-year).
- 2018: Revenue of $103K, expenses of $117K, and assets of $312K (revenue -0.4% year-over-year).
- 2017: Revenue of $104K, expenses of $117K, and assets of $323K (revenue +0.0% year-over-year).
- 2016: Revenue of $104K, expenses of $108K, and assets of $334K (revenue +1.6% year-over-year).
- 2015: Revenue of $102K, expenses of $118K, and assets of $340K (revenue -1.6% year-over-year).
- 2014: Revenue of $103K, expenses of $118K, and assets of $360K (revenue +0.1% year-over-year).
- 2013: Revenue of $103K, expenses of $123K, and assets of $381K (revenue -0.2% year-over-year).
- 2012: Revenue of $104K, expenses of $101K, and assets of $388K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Leo R Tanguay Apartments Inc:
Data Sources and Methodology
This transparency report for Leo R Tanguay Apartments Inc 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.