Monadnock Affordable Housing Corporation
Monadnock Affordable Housing Corporation shows consistent asset growth and operational surpluses over the past decade.
EIN: 20511413 · Keene, NH · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.8M |
| Total Expenses | $5.6M |
| Program Spending | 85% |
| Net Assets | $15.9M |
| Transparency Score | 88/100 |
Is Monadnock Affordable Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Monadnock Affordable Housing Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Monadnock Affordable Housing Corporation
Monadnock Affordable Housing Corporation (EIN: 20511413) is a nonprofit organization based in Keene, NH, classified under NTEE code L20. The organization reported total revenue of $8.8M and total assets of $36.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Monadnock Affordable Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Monadnock Affordable Housing Corporation is a mid-size nonprofit that has been operating for 26 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.5M |
| Total Expenses | $5.6M |
| Surplus / Deficit | +$1.8M |
| Total Assets | $34.8M |
| Total Liabilities | $18.9M |
| Net Assets | $15.9M |
| Operating Margin | 24.5% |
| Debt-to-Asset Ratio | 54.3% |
| Months of Reserves | 74.1 months |
Financial Health Grade: A
In 2023, Monadnock Affordable Housing Corporation reported a surplus of $1.8M with revenue exceeding expenses, holds 74.1 months of operating reserves (strong position), has a debt-to-asset ratio of 54.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Monadnock Affordable Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 7.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.3% | +61.0% | +14.2% |
| 2022 | -16.9% | -10.6% | +7.9% |
| 2021 | +42.9% | +6.3% | +14.2% |
| 2020 | +14.9% | +3.3% | +6.9% |
| 2019 | +13.4% | +0.3% | -1.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Monadnock Affordable Housing Corporation with a Mission Score of 88 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, Monadnock Affordable Housing Corporation 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 surplus of $1.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 54.3%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, suggesting that key executives may either be volunteers, compensated through a related entity not reflected in these specific filings, or that the organization operates with a highly lean administrative structure regarding top leadership 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 Monadnock Affordable Housing Corporation's IRS 990 filings:
- Lack of detailed program vs. administrative spending breakdown in provided summary data
- Consistent 0% officer compensation could indicate compensation is reported elsewhere or through related entities, warranting deeper investigation for full transparency.
Strengths
The following positive indicators were identified for Monadnock Affordable Housing Corporation:
- Consistent and significant growth in assets, from $21.8M in 2014 to $34.8M in 2023.
- Strong operational surpluses year over year, indicating sound financial management (e.g., $7.4M revenue vs. $5.6M expenses in 2023).
- No reported officer compensation across all available filings, suggesting a focus on mission over executive pay.
- Consistent filing of IRS Form 990s over 13 periods, demonstrating transparency.
- Healthy asset-to-liability ratio, indicating financial stability and capacity for future projects.
Frequently Asked Questions about Monadnock Affordable Housing Corporation
Is Monadnock Affordable Housing Corporation a legitimate charity?
Monadnock Affordable Housing Corporation (EIN: 20511413) is a registered tax-exempt nonprofit based in New Hampshire. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $8.8M. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Monadnock Affordable Housing Corporation spend its money?
Monadnock Affordable Housing Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Monadnock Affordable Housing Corporation tax-deductible?
Monadnock Affordable Housing Corporation is registered as a tax-exempt nonprofit (EIN: 20511413). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Monadnock Affordable Housing Corporation's spending goes to programs?
Monadnock Affordable Housing Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Monadnock Affordable Housing Corporation compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Monadnock Affordable Housing Corporation is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Monadnock Affordable Housing Corporation located?
Monadnock Affordable Housing Corporation is headquartered in Keene, New Hampshire and files with the IRS under EIN 20511413. It is classified under NTEE code L20.
How many years of IRS 990 filings does Monadnock Affordable Housing Corporation have?
Monadnock Affordable Housing 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 $8.8M in total revenue.
Is Monadnock Affordable Housing Corporation a good charity?
Based on the provided financial data, Monadnock Affordable Housing Corporation appears to be a financially healthy and well-managed organization with consistent growth in assets and revenue, indicating a strong capacity to fulfill its mission. The consistent operational surpluses and lack of reported officer compensation are positive indicators.
How has the organization's financial health changed over the last decade?
The organization's financial health has significantly improved over the last decade. Total assets grew from $21,866,910 in 2014 to $34,817,736 in 2023, and annual revenue has more than doubled from $4,132,531 in 2014 to $7,471,352 in 2023, demonstrating robust growth and stability.
What is the trend in the organization's liabilities?
Liabilities have increased in absolute terms, from $16,736,601 in 2014 to $18,895,538 in 2023. However, the growth in assets has outpaced liabilities, leading to a stronger net asset position over time, indicating responsible leveraging for growth.
Filing History
IRS 990 filing history for Monadnock Affordable Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Monadnock Affordable Housing Corporation's revenue has grown by 148.1%, moving from $3.0M to $7.5M. Total assets increased by 45.5% over the same period, from $23.9M to $34.8M. Total functional expenses rose by 71.5%, from $3.3M to $5.6M. In its most recent filing year (2023), Monadnock Affordable Housing Corporation reported a surplus of $1.8M, with revenue exceeding expenses. The organization holds $18.9M in liabilities against $34.8M in assets (debt-to-asset ratio: 54.3%), resulting in net assets of $15.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.5M | $5.6M | $34.8M | $18.9M | — | — |
| 2022 | $5.6M | $3.5M | $30.5M | $17.1M | — | View 990 |
| 2021 | $6.7M | $3.9M | $28.2M | $17.4M | — | View 990 |
| 2020 | $4.7M | $3.7M | $24.7M | $16.7M | — | View 990 |
| 2019 | $4.1M | $3.6M | $23.1M | $16.1M | — | View 990 |
| 2018 | $3.6M | $3.6M | $23.4M | $16.9M | — | View 990 |
| 2017 | $3.5M | $3.4M | $23.1M | $16.7M | — | View 990 |
| 2016 | $3.8M | $3.1M | $22.1M | $16.0M | — | View 990 |
| 2015 | $3.6M | $3.2M | $21.8M | $16.2M | — | View 990 |
| 2014 | $4.1M | $4.0M | $21.9M | $16.7M | — | View 990 |
| 2013 | $3.6M | $3.8M | $23.0M | $18.0M | — | View 990 |
| 2012 | $3.2M | $3.3M | $23.3M | $18.0M | — | View 990 |
| 2011 | $3.0M | $3.3M | $23.9M | $19.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.5M, expenses of $5.6M, and assets of $34.8M (revenue +33.3% year-over-year).
- 2022: Revenue of $5.6M, expenses of $3.5M, and assets of $30.5M (revenue -16.9% year-over-year).
- 2021: Revenue of $6.7M, expenses of $3.9M, and assets of $28.2M (revenue +42.9% year-over-year).
- 2020: Revenue of $4.7M, expenses of $3.7M, and assets of $24.7M (revenue +14.9% year-over-year).
- 2019: Revenue of $4.1M, expenses of $3.6M, and assets of $23.1M (revenue +13.4% year-over-year).
- 2018: Revenue of $3.6M, expenses of $3.6M, and assets of $23.4M (revenue +2.8% year-over-year).
- 2017: Revenue of $3.5M, expenses of $3.4M, and assets of $23.1M (revenue -6.2% year-over-year).
- 2016: Revenue of $3.8M, expenses of $3.1M, and assets of $22.1M (revenue +2.9% year-over-year).
- 2015: Revenue of $3.6M, expenses of $3.2M, and assets of $21.8M (revenue -11.7% year-over-year).
- 2014: Revenue of $4.1M, expenses of $4.0M, and assets of $21.9M (revenue +15.3% year-over-year).
- 2013: Revenue of $3.6M, expenses of $3.8M, and assets of $23.0M (revenue +13.6% year-over-year).
- 2012: Revenue of $3.2M, expenses of $3.3M, and assets of $23.3M (revenue +4.8% year-over-year).
- 2011: Revenue of $3.0M, expenses of $3.3M, and assets of $23.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Monadnock Affordable Housing Corporation:
Data Sources and Methodology
This transparency report for Monadnock Affordable Housing 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.