Monterey County Housing Authority Development Corporation
Monterey County Housing Authority Development Corporation shows strong asset growth and no officer compensation, despite fluctuating revenues.
EIN: 202685023 · Salinas, CA · NTEE: L20 · Updated: 2026-03-28
Is Monterey County Housing Authority Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Monterey County Housing Authority Development Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Monterey County Housing Authority Development Corporation
Monterey County Housing Authority Development Corporation (EIN: 202685023) is a nonprofit organization based in Salinas, CA, classified under NTEE code L20. The organization reported total revenue of $3.7M and total assets of $69.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Monterey County Housing Authority Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Monterey County Housing Authority Development Corporation with a Mission Score of 92 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, Monterey County Housing Authority Development Corporation 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.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no officers received compensation from the organization. This suggests a highly efficient and mission-focused approach to leadership costs, especially for an organization with assets exceeding $66 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 Monterey County Housing Authority Development Corporation's IRS 990 filings:
- Significant year-over-year revenue volatility
- Expenses exceeded revenue in fiscal year 2022 ($3.6M vs $2.5M)
- Substantial increase in liabilities from $1.5M in 2020 to $26.2M in 2023
Strengths
The following positive indicators were identified for Monterey County Housing Authority Development Corporation:
- Consistent 0% officer compensation, indicating excellent executive cost control
- Strong asset growth over the past decade, from $21.1M in 2014 to $66.1M in 2023
- Generally good expense management, with expenses typically well below revenue
- Healthy asset base provides financial stability
Frequently Asked Questions about Monterey County Housing Authority Development Corporation
Is Monterey County Housing Authority Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Monterey County Housing Authority Development Corporation (EIN: 202685023) some concerns. Mission Score: 92/100. 3 red flags identified, 4 strengths noted.
How does Monterey County Housing Authority Development Corporation spend its money?
Monterey County Housing Authority Development Corporation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Monterey County Housing Authority Development Corporation tax-deductible?
Monterey County Housing Authority Development Corporation is registered as a tax-exempt nonprofit (EIN: 202685023). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Monterey County Housing Authority Development Corporation a good charity?
Based on the available IRS 990 data, MCHADC appears to be a good charity. It demonstrates strong financial health with significant asset growth, consistently reports 0% officer compensation, and generally manages expenses well below revenue, indicating efficient use of funds towards its mission.
Why does revenue fluctuate so much year-to-year?
The significant fluctuations in revenue, such as $14 million in 2021 compared to $2.5 million in 2022, could be due to the nature of its funding, which might include large, infrequent grants, specific project-based funding, or proceeds from property sales related to its housing development activities. This is common for organizations involved in real estate or large-scale development projects.
What caused the increase in liabilities in recent years?
Liabilities have increased from $1.5 million in 2020 to $26.2 million in 2023. This substantial increase could be attributed to taking on new debt for property acquisitions, construction projects, or other significant investments related to its housing development mission. Given the corresponding asset growth, this might represent strategic leveraging rather than financial distress.
How does the organization sustain itself with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that executive salaries are covered by a related entity (e.g., a parent housing authority) and not directly reported on MCHADC's 990. This is a highly efficient model for minimizing administrative overhead.
Filing History
IRS 990 filing history for Monterey County Housing Authority Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Monterey County Housing Authority Development Corporation's revenue has grown by 1926.7%, moving from $199K to $4.0M. Total assets increased by 468.1% over the same period, from $11.6M to $66.1M. Total functional expenses rose by 260.7%, from $972K to $3.5M. In its most recent filing year (2023), Monterey County Housing Authority Development Corporation reported a surplus of $523K, with revenue exceeding expenses. The organization holds $26.3M in liabilities against $66.1M in assets (debt-to-asset ratio: 39.7%), resulting in net assets of $39.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $4.0M | $3.5M | $66.1M | $26.3M | — | — |
| 2022 | $2.5M | $3.6M | $82.6M | $44.9M | — | — |
| 2021 | $14.1M | $1.5M | $74.9M | $25.9M | — | View 990 |
| 2020 | $4.0M | $1.8M | $37.9M | $1.5M | — | View 990 |
| 2019 | $2.8M | $1.8M | $35.8M | $1.6M | — | View 990 |
| 2018 | $10.2M | $2.7M | $35.0M | $1.6M | — | View 990 |
| 2017 | $3.2M | $1.9M | $27.6M | $1.6M | — | View 990 |
| 2016 | $5.4M | $1.8M | $26.4M | $1.7M | — | View 990 |
| 2015 | $4.0M | $1.8M | $23.2M | $2.1M | — | View 990 |
| 2014 | $1.6M | $1.6M | $21.1M | $2.3M | — | View 990 |
| 2013 | $5.4M | $2.2M | $20.4M | $1.7M | — | View 990 |
| 2012 | $7.3M | $1.7M | $17.3M | $1.7M | — | View 990 |
| 2011 | $199K | $972K | $11.6M | $1.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.0M, expenses of $3.5M, and assets of $66.1M (revenue +60.0% year-over-year).
- 2022: Revenue of $2.5M, expenses of $3.6M, and assets of $82.6M (revenue -82.1% year-over-year).
- 2021: Revenue of $14.1M, expenses of $1.5M, and assets of $74.9M (revenue +251.7% year-over-year).
- 2020: Revenue of $4.0M, expenses of $1.8M, and assets of $37.9M (revenue +41.8% year-over-year).
- 2019: Revenue of $2.8M, expenses of $1.8M, and assets of $35.8M (revenue -72.3% year-over-year).
- 2018: Revenue of $10.2M, expenses of $2.7M, and assets of $35.0M (revenue +220.6% year-over-year).
- 2017: Revenue of $3.2M, expenses of $1.9M, and assets of $27.6M (revenue -41.4% year-over-year).
- 2016: Revenue of $5.4M, expenses of $1.8M, and assets of $26.4M (revenue +37.0% year-over-year).
- 2015: Revenue of $4.0M, expenses of $1.8M, and assets of $23.2M (revenue +142.4% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.6M, and assets of $21.1M (revenue -69.5% year-over-year).
- 2013: Revenue of $5.4M, expenses of $2.2M, and assets of $20.4M (revenue -26.9% year-over-year).
- 2012: Revenue of $7.3M, expenses of $1.7M, and assets of $17.3M (revenue +3595.1% year-over-year).
- 2011: Revenue of $199K, expenses of $972K, and assets of $11.6M.
Data Sources and Methodology
This transparency report for Monterey County Housing Authority Development 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.