Los Sures Sip Housing Development Fund Corporation
Los Sures Sip Housing Development Fund Corporation consistently operates with expenses exceeding revenue, maintaining significant liabilities.
EIN: 113104312 · Brooklyn, NY · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.7M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $-4,526,125 |
| Transparency Score | 65/100 |
Is Los Sures Sip Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Los Sures Sip Housing Development Fund Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Los Sures Sip Housing Development Fund Corporation
Los Sures Sip Housing Development Fund Corporation (EIN: 113104312) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code L21. The organization reported total revenue of $1.8M and total assets of $6.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Los Sures Sip Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Los Sures Sip Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 11 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-90,246 |
| Total Assets | $6.6M |
| Total Liabilities | $11.1M |
| Net Assets | $-4,526,125 |
| Operating Margin | -5.5% |
| Debt-to-Asset Ratio | 168.8% |
| Months of Reserves | 45.6 months |
Financial Health Grade: C
In 2023, Los Sures Sip Housing Development Fund Corporation reported a deficit of $90K with expenses exceeding revenue, holds 45.6 months of operating reserves (strong position), has a debt-to-asset ratio of 168.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Los Sures Sip Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.4% | -12.6% | -2.5% |
| 2022 | -4.8% | -2.2% | -3.7% |
| 2021 | -16.5% | +9.4% | +3.7% |
| 2020 | +37.7% | -1.0% | +6.3% |
| 2019 | +6.8% | +0.7% | -3.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2015 |
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 Los Sures Sip Housing Development Fund Corporation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Los Sures Sip Housing Development Fund Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $90K, with expenses exceeding revenue.
- Debt-to-asset ratio: 168.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size with assets exceeding $6 million. This suggests that key leadership may be compensated through other means not categorized as 'officer compensation' or operates on a volunteer basis, which impacts the transparency of executive remuneration.
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 Los Sures Sip Housing Development Fund Corporation's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) in recent years, e.g., 202312 expenses were $1,730,599 against revenue of $1,640,353.
- Liabilities consistently exceed assets by a significant margin (e.g., 202312: Liabilities $11,103,449 vs. Assets $6,577,324).
- 0% officer compensation reported across all filings, which may obscure the true cost of executive leadership.
Strengths
The following positive indicators were identified for Los Sures Sip Housing Development Fund Corporation:
- Consistent asset base over time, generally above $6 million, indicating a stable foundation.
- Long filing history (13 filings) demonstrates consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Los Sures Sip Housing Development Fund Corporation
Is Los Sures Sip Housing Development Fund Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Los Sures Sip Housing Development Fund Corporation (EIN: 113104312) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Los Sures Sip Housing Development Fund Corporation spend its money?
Los Sures Sip Housing Development Fund Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Los Sures Sip Housing Development Fund Corporation tax-deductible?
Los Sures Sip Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 113104312). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Los Sures Sip Housing Development Fund Corporation CEO make?
Los Sures Sip Housing Development Fund Corporation's highest-compensated officer earns $6 annually. The organization reported $1.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Los Sures Sip Housing Development Fund Corporation's spending goes to programs?
Los Sures Sip Housing Development Fund Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Los Sures Sip Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Los Sures Sip Housing Development Fund Corporation 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 Los Sures Sip Housing Development Fund Corporation located?
Los Sures Sip Housing Development Fund Corporation is headquartered in Brooklyn, New York and files with the IRS under EIN 113104312. It is classified under NTEE code L21.
How many years of IRS 990 filings does Los Sures Sip Housing Development Fund Corporation have?
Los Sures Sip Housing Development Fund Corporation 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 $1.8M in total revenue.
Why do expenses consistently exceed revenue in recent years?
From 2021 to 2023, expenses have consistently been higher than revenue (e.g., 202312: Expenses $1,730,599 vs. Revenue $1,640,353), leading to a decrease in assets. The organization should clarify the sustainability of this trend.
What is the nature of the significant liabilities, consistently exceeding assets?
The organization's liabilities have consistently been around $10M-$11M, while assets are $6M-$7M. Understanding the composition of these liabilities (e.g., mortgages, program-related debt) is crucial for assessing financial risk.
How are key personnel compensated if officer compensation is consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings raises questions about how the organization's leadership and key management are compensated, impacting transparency regarding executive pay.
Filing History
IRS 990 filing history for Los Sures Sip Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Los Sures Sip Housing Development Fund Corporation's revenue has grown by 23.8%, moving from $1.3M to $1.6M. Total assets increased by 9.8% over the same period, from $6.0M to $6.6M. Total functional expenses rose by 9.6%, from $1.6M to $1.7M. In its most recent filing year (2023), Los Sures Sip Housing Development Fund Corporation reported a deficit of $90K, with expenses exceeding revenue. The organization holds $11.1M in liabilities against $6.6M in assets (debt-to-asset ratio: 168.8%), resulting in net assets of $-4,526,125.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.7M | $6.6M | $11.1M | — | — |
| 2022 | $1.8M | $2.0M | $6.7M | $11.2M | — | View 990 |
| 2021 | $1.9M | $2.0M | $7.0M | $11.3M | — | View 990 |
| 2020 | $2.3M | $1.9M | $6.8M | $10.9M | — | View 990 |
| 2019 | $1.6M | $1.9M | $6.4M | $10.9M | — | View 990 |
| 2018 | $1.5M | $1.9M | $6.6M | $10.9M | — | View 990 |
| 2017 | $1.5M | $1.7M | $6.6M | $10.6M | — | View 990 |
| 2016 | $1.4M | $1.6M | $6.9M | $10.6M | — | View 990 |
| 2015 | $1.5M | $1.4M | $6.9M | $10.4M | — | View 990 |
| 2014 | $3.2M | $1.6M | $6.2M | $9.8M | — | View 990 |
| 2013 | $1.5M | $1.9M | $5.7M | $10.9M | — | View 990 |
| 2012 | $1.4M | $1.7M | $5.9M | $8.3M | — | View 990 |
| 2011 | $1.3M | $1.6M | $6.0M | $8.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.7M, and assets of $6.6M (revenue -8.4% year-over-year).
- 2022: Revenue of $1.8M, expenses of $2.0M, and assets of $6.7M (revenue -4.8% year-over-year).
- 2021: Revenue of $1.9M, expenses of $2.0M, and assets of $7.0M (revenue -16.5% year-over-year).
- 2020: Revenue of $2.3M, expenses of $1.9M, and assets of $6.8M (revenue +37.7% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.9M, and assets of $6.4M (revenue +6.8% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.9M, and assets of $6.6M (revenue +1.0% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.7M, and assets of $6.6M (revenue +6.6% year-over-year).
- 2016: Revenue of $1.4M, expenses of $1.6M, and assets of $6.9M (revenue -3.0% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.4M, and assets of $6.9M (revenue -53.8% year-over-year).
- 2014: Revenue of $3.2M, expenses of $1.6M, and assets of $6.2M (revenue +111.3% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.9M, and assets of $5.7M (revenue +4.4% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.7M, and assets of $5.9M (revenue +8.6% year-over-year).
- 2011: Revenue of $1.3M, expenses of $1.6M, and assets of $6.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Los Sures Sip Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Los Sures Sip Housing Development Fund Corporation 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.