Malta House Of Care Inc
Malta House Of Care Inc shows strong asset growth and no executive compensation, despite a recent operating deficit.
EIN: 203562424 · Hartford, CT · NTEE: E32 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.6M |
| Program Spending | 85% |
| Net Assets | $2.6M |
| Transparency Score | 90/100 |
Is Malta House Of Care Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Malta House Of Care Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Malta House Of Care Inc
Malta House Of Care Inc (EIN: 203562424) is a nonprofit organization based in Hartford, CT, classified under NTEE code E32. The organization reported total revenue of $1.7M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Malta House Of Care Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Malta House Of Care Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.6M |
| Surplus / Deficit | $-510,005 |
| Total Assets | $2.6M |
| Total Liabilities | $52K |
| Net Assets | $2.6M |
| Operating Margin | -44.8% |
| Debt-to-Asset Ratio | 2.0% |
| Months of Reserves | 19.0 months |
Financial Health Grade: B
In 2023, Malta House Of Care Inc reported a deficit of $510K with expenses exceeding revenue, holds 19.0 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Malta House Of Care Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -40.3% | -12.3% | -13.8% |
| 2022 | +20.8% | +8.5% | +1.3% |
| 2021 | +2.5% | +14.9% | +3.0% |
| 2020 | +39.4% | +37.3% | +5595.7% |
| 2019 | +26.3% | +23.1% | +11.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
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 Malta House Of Care Inc with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Malta House Of Care Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $510K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.0%.
Executive Compensation Analysis
Malta House Of Care Inc consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a highly positive indicator, suggesting that all funds are directed towards the organization's mission and operational costs, rather than executive salaries.
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 Malta House Of Care Inc's IRS 990 filings:
- Operating deficit in 2023 ($1,138,206 revenue vs. $1,648,211 expenses)
Strengths
The following positive indicators were identified for Malta House Of Care Inc:
- Consistent 0% officer compensation across all filings
- Strong asset growth over the past decade, from $170,343 in 2014 to $2,611,550 in 2023
- Assets significantly exceed liabilities ($2,611,550 assets vs. $51,831 liabilities in 2023)
- Consistent IRS 990 filing history (13 filings) demonstrating transparency
- Positive net income in multiple recent years (e.g., 2022: $1,906,058 revenue vs. $1,880,276 expenses)
Frequently Asked Questions about Malta House Of Care Inc
Is Malta House Of Care Inc a legitimate charity?
Malta House Of Care Inc (EIN: 203562424) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.7M. 1 red flag identified. 5 strengths noted. Financial health grade: B.
How does Malta House Of Care Inc spend its money?
Malta House Of Care Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Malta House Of Care Inc tax-deductible?
Malta House Of Care Inc is registered as a tax-exempt nonprofit (EIN: 203562424). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Malta House Of Care Inc's spending goes to programs?
Malta House Of Care Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Malta House Of Care Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Malta House Of Care Inc is above average for NTEE category E32 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Malta House Of Care Inc located?
Malta House Of Care Inc is headquartered in Hartford, Connecticut and files with the IRS under EIN 203562424. It is classified under NTEE code E32.
How many years of IRS 990 filings does Malta House Of Care Inc have?
Malta House Of Care 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 $1.7M in total revenue.
Is Malta House Of Care Inc financially stable?
Yes, Malta House Of Care Inc appears financially stable. While it experienced an operating deficit in 2023 ($1,138,206 revenue vs. $1,648,211 expenses), its assets of $2,611,550 significantly outweigh its liabilities of $51,831, indicating a strong balance sheet. The organization has also shown substantial asset growth over the past decade.
Does Malta House Of Care Inc pay its executives?
No, Malta House Of Care Inc consistently reports 0% officer compensation across all 13 available IRS 990 filings, indicating that no salaries are paid to its officers.
How has Malta House Of Care Inc's revenue trended?
Malta House Of Care Inc's revenue has shown significant growth over the past decade, from $386,159 in 2014 to a peak of $1,906,058 in 2022, before a decrease to $1,138,206 in 2023. Despite the recent dip, the overall trend is positive.
Filing History
IRS 990 filing history for Malta House Of Care Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Malta House Of Care Inc's revenue has grown by 172.8%, moving from $417K to $1.1M. Total assets increased by 1077.1% over the same period, from $222K to $2.6M. Total functional expenses rose by 249.1%, from $472K to $1.6M. In its most recent filing year (2023), Malta House Of Care Inc reported a deficit of $510K, with expenses exceeding revenue. The organization holds $52K in liabilities against $2.6M in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $2.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $1.6M | $2.6M | $52K | — | — |
| 2022 | $1.9M | $1.9M | $3.0M | $117K | — | View 990 |
| 2021 | $1.6M | $1.7M | $3.0M | $393K | — | View 990 |
| 2020 | $1.5M | $1.5M | $2.9M | $305K | — | View 990 |
| 2019 | $1.1M | $1.1M | $51K | $83K | — | View 990 |
| 2018 | $875K | $892K | $46K | $84K | — | View 990 |
| 2017 | $721K | $786K | $65K | $86K | — | View 990 |
| 2016 | $609K | $623K | $92K | $48K | — | View 990 |
| 2015 | $635K | $624K | $108K | $50K | — | View 990 |
| 2014 | $386K | $447K | $170K | $123K | — | View 990 |
| 2013 | $510K | $558K | $191K | $82K | — | View 990 |
| 2012 | $467K | $464K | $231K | $74K | — | View 990 |
| 2011 | $417K | $472K | $222K | $68K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $1.6M, and assets of $2.6M (revenue -40.3% year-over-year).
- 2022: Revenue of $1.9M, expenses of $1.9M, and assets of $3.0M (revenue +20.8% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.7M, and assets of $3.0M (revenue +2.5% year-over-year).
- 2020: Revenue of $1.5M, expenses of $1.5M, and assets of $2.9M (revenue +39.4% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $51K (revenue +26.3% year-over-year).
- 2018: Revenue of $875K, expenses of $892K, and assets of $46K (revenue +21.4% year-over-year).
- 2017: Revenue of $721K, expenses of $786K, and assets of $65K (revenue +18.4% year-over-year).
- 2016: Revenue of $609K, expenses of $623K, and assets of $92K (revenue -4.1% year-over-year).
- 2015: Revenue of $635K, expenses of $624K, and assets of $108K (revenue +64.4% year-over-year).
- 2014: Revenue of $386K, expenses of $447K, and assets of $170K (revenue -24.3% year-over-year).
- 2013: Revenue of $510K, expenses of $558K, and assets of $191K (revenue +9.1% year-over-year).
- 2012: Revenue of $467K, expenses of $464K, and assets of $231K (revenue +12.0% year-over-year).
- 2011: Revenue of $417K, expenses of $472K, and assets of $222K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Malta House Of Care Inc:
Data Sources and Methodology
This transparency report for Malta House Of Care 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.