Longfellow Avenue Housing Development Fund Co Inc
Longfellow Avenue Housing Development Fund Co Inc shows recent financial stability with no executive compensation.
EIN: 132765298 · New York, NY · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.9M |
| Total Expenses | $2.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $-2,288,839 |
| Transparency Score | 85/100 |
Is Longfellow Avenue Housing Development Fund Co Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Longfellow Avenue Housing Development Fund Co Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Longfellow Avenue Housing Development Fund Co Inc
Longfellow Avenue Housing Development Fund Co Inc (EIN: 132765298) is a nonprofit organization based in New York, NY, classified under NTEE code L21. The organization reported total revenue of $2.9M and total assets of $6.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Longfellow Avenue Housing Development Fund Co Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Longfellow Avenue Housing Development Fund Co Inc is a mid-size nonprofit that has been operating for 9 years, with 9 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of -0.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.1M |
| Surplus / Deficit | +$598K |
| Total Assets | $6.0M |
| Total Liabilities | $8.3M |
| Net Assets | $-2,288,839 |
| Operating Margin | 21.9% |
| Debt-to-Asset Ratio | 138.1% |
| Months of Reserves | 33.9 months |
Financial Health Grade: A
In 2023, Longfellow Avenue Housing Development Fund Co Inc reported a surplus of $598K with revenue exceeding expenses, holds 33.9 months of operating reserves (strong position), has a debt-to-asset ratio of 138.1% (high leverage).
Financial Trends
Over 9 years of filings (2014–2023), Longfellow Avenue Housing Development Fund Co Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.9% | -49.1% | +20.1% |
| 2022 | +4.0% | +102.8% | -27.3% |
| 2021 | +1.4% | -40.5% | +22.2% |
| 2020 | +11.3% | -14.4% | -29.0% |
| 2018 | +5.2% | +64.3% | -17.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2017 |
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 Longfellow Avenue Housing Development Fund Co 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Longfellow Avenue Housing Development Fund Co Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $598K, with revenue exceeding expenses.
- Debt-to-asset ratio: 138.1%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries or benefits are paid to officers, which is highly unusual for an organization of this size with revenues often exceeding $2 million.
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 Longfellow Avenue Housing Development Fund Co Inc's IRS 990 filings:
- Liabilities consistently exceed assets, indicating a highly leveraged financial position.
- Significant fluctuations in expenses and occasional deficit spending (e.g., 202209, 202009, 201809, 201709) could indicate unpredictable financial planning or large project-based expenditures.
Strengths
The following positive indicators were identified for Longfellow Avenue Housing Development Fund Co Inc:
- Consistent 0% officer compensation, indicating strong resource allocation to mission.
- Latest filing (202309) shows a healthy operating surplus of $598,180.
- Long history of IRS 990 filings (9 filings), demonstrating transparency and consistent operation.
- Focus on housing development (NTEE L21) directly addresses community needs.
Frequently Asked Questions about Longfellow Avenue Housing Development Fund Co Inc
Is Longfellow Avenue Housing Development Fund Co Inc a legitimate charity?
Longfellow Avenue Housing Development Fund Co Inc (EIN: 132765298) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 9 years of IRS 990 filings on record. Total revenue: $2.9M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Longfellow Avenue Housing Development Fund Co Inc spend its money?
Longfellow Avenue Housing Development Fund Co Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Longfellow Avenue Housing Development Fund Co Inc tax-deductible?
Longfellow Avenue Housing Development Fund Co Inc is registered as a tax-exempt nonprofit (EIN: 132765298). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Longfellow Avenue Housing Development Fund Co Inc CEO make?
Longfellow Avenue Housing Development Fund Co Inc's highest-compensated officer earns $2 annually. The organization reported $2.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Longfellow Avenue Housing Development Fund Co Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Longfellow Avenue Housing Development Fund Co Inc is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Longfellow Avenue Housing Development Fund Co Inc located?
Longfellow Avenue Housing Development Fund Co Inc is headquartered in New York, New York and files with the IRS under EIN 132765298. It is classified under NTEE code L21.
How many years of IRS 990 filings does Longfellow Avenue Housing Development Fund Co Inc have?
Longfellow Avenue Housing Development Fund Co Inc has 9 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 $2.9M in total revenue.
How does Longfellow Avenue Housing Development Fund Co Inc manage without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization may rely on volunteer leadership, or that executive functions are performed by staff whose compensation is categorized under general administrative expenses rather than specifically as officer compensation, or that it is managed by an affiliated entity.
What caused the significant expense spikes in 2022 and 2020?
The expense spikes, such as $4,182,715 in 202209 and $3,467,841 in 202009, likely reflect significant project-related costs or investments in housing development activities, which can fluctuate year-to-year based on project timelines and expenditures.
Why do liabilities consistently exceed assets for this organization?
It is common for housing development funds to have liabilities exceeding assets, as they often rely on substantial debt financing (e.g., mortgages, construction loans) to acquire, develop, and maintain properties. This indicates a leveraged financial structure typical for real estate-focused nonprofits.
Is the organization financially sustainable given past deficits?
While there have been periods of deficit spending, the latest filing for 202309 shows a positive net income of $598,180 ($2,728,132 revenue - $2,129,952 expenses), indicating a return to financial health and suggesting improved sustainability in the short term.
Filing History
IRS 990 filing history for Longfellow Avenue Housing Development Fund Co Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2014–2023), Longfellow Avenue Housing Development Fund Co Inc's revenue has declined by 7.3%, moving from $2.9M to $2.7M. Total assets increased by 432.7% over the same period, from $1.1M to $6.0M. Total functional expenses rose by 62.9%, from $1.3M to $2.1M. In its most recent filing year (2023), Longfellow Avenue Housing Development Fund Co Inc reported a surplus of $598K, with revenue exceeding expenses. The organization holds $8.3M in liabilities against $6.0M in assets (debt-to-asset ratio: 138.1%), resulting in net assets of $-2,288,839.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.1M | $6.0M | $8.3M | — | — |
| 2022 | $2.6M | $4.2M | $5.0M | $7.9M | — | — |
| 2021 | $2.5M | $2.1M | $6.9M | $8.1M | — | View 990 |
| 2020 | $2.5M | $3.5M | $5.6M | $8.1M | — | — |
| 2018 | $2.2M | $4.1M | $7.9M | $9.3M | — | View 990 |
| 2017 | $2.1M | $2.5M | $9.6M | $9.1M | — | View 990 |
| 2016 | $1.5M | $1.3M | $1.1M | $299K | — | View 990 |
| 2015 | $1.6M | $1.4M | $1.1M | $446K | — | View 990 |
| 2014 | $2.9M | $1.3M | $1.1M | $651K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.1M, and assets of $6.0M (revenue +4.9% year-over-year).
- 2022: Revenue of $2.6M, expenses of $4.2M, and assets of $5.0M (revenue +4.0% year-over-year).
- 2021: Revenue of $2.5M, expenses of $2.1M, and assets of $6.9M (revenue +1.4% year-over-year).
- 2020: Revenue of $2.5M, expenses of $3.5M, and assets of $5.6M (revenue +11.3% year-over-year).
- 2018: Revenue of $2.2M, expenses of $4.1M, and assets of $7.9M (revenue +5.2% year-over-year).
- 2017: Revenue of $2.1M, expenses of $2.5M, and assets of $9.6M (revenue +39.1% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.3M, and assets of $1.1M (revenue -2.4% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.4M, and assets of $1.1M (revenue -47.3% year-over-year).
- 2014: Revenue of $2.9M, expenses of $1.3M, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Longfellow Avenue Housing Development Fund Co Inc:
Data Sources and Methodology
This transparency report for Longfellow Avenue Housing Development Fund Co 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.