Naugatuck Valley Housing Development Corporation
Naugatuck Valley Housing Development Corporation: Consistent Operations, Limited Growth
EIN: 222898850 · Wolcott, CT · Updated: 2026-04-04
Is Naugatuck Valley Housing Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Naugatuck Valley Housing Development Corporation directs 78% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Naugatuck Valley Housing Development Corporation
Naugatuck Valley Housing Development Corporation (EIN: 222898850) is a nonprofit organization based in Wolcott, CT. The organization reported total revenue of $25K and total assets of $68K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Naugatuck Valley Housing Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Naugatuck Valley Housing Development Corporation is a micro nonprofit that has been operating for 37 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $28K |
| Total Expenses | $22K |
| Surplus / Deficit | +$6K |
| Total Assets | $85K |
| Total Liabilities | $149 |
| Net Assets | $85K |
| Operating Margin | 22.3% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 46.4 months |
Financial Health Grade: A
In 2023, Naugatuck Valley Housing Development Corporation reported a surplus of $6K with revenue exceeding expenses, holds 46.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Naugatuck Valley Housing Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.4% | +20.1% | +8.0% |
| 2022 | +6.9% | -19.8% | +12.8% |
| 2021 | +6.1% | +14.9% | +3.7% |
| 2020 | -37.7% | -1.2% | +6.3% |
| 2019 | +33.6% | -35.8% | +40.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
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 Naugatuck Valley Housing Development 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: 12%
- programs: 78%
- fundraising: 10%
According to IRS 990 filings, Naugatuck Valley Housing Development Corporation allocates its expenses as follows: admin: 12%, programs: 78%, fundraising: 10%. With 78% 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 $6K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, indicating either volunteer leadership or compensation is covered by another entity, which warrants further investigation.
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 Naugatuck Valley Housing Development Corporation's IRS 990 filings:
- Lack of detailed program information makes it difficult to assess direct impact.
- Consistent reporting of $0 executive compensation may mask indirect compensation or volunteer-only leadership, requiring clarification.
- Revenue and asset growth have been modest over the past several years, suggesting limited expansion.
Strengths
The following positive indicators were identified for Naugatuck Valley Housing Development Corporation:
- Consistent financial reporting over many years demonstrates operational stability.
- Low administrative and fundraising percentages (12% and 10% respectively) suggest efficient use of funds.
- The organization maintains a positive asset balance, indicating financial solvency.
Frequently Asked Questions about Naugatuck Valley Housing Development Corporation
Is Naugatuck Valley Housing Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Naugatuck Valley Housing Development Corporation (EIN: 222898850) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Naugatuck Valley Housing Development Corporation spend its money?
Naugatuck Valley Housing Development Corporation directs 78% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Naugatuck Valley Housing Development Corporation tax-deductible?
Naugatuck Valley Housing Development Corporation is registered as a tax-exempt nonprofit (EIN: 222898850). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Naugatuck Valley Housing Development Corporation do?
Naugatuck Valley Housing Development Corporation is a nonprofit organization in the Unknown sector, located in Wolcott, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Naugatuck Valley Housing Development Corporation have?
Naugatuck Valley Housing Development Corporation reported total revenue of $25,379. Based on 13 IRS 990 filings on record.
What are Naugatuck Valley Housing Development Corporation's total assets?
Naugatuck Valley Housing Development Corporation holds total assets of $68,142 as reported in IRS 990 filings.
Where is Naugatuck Valley Housing Development Corporation located?
Naugatuck Valley Housing Development Corporation is based in Wolcott, Connecticut.
What is Naugatuck Valley Housing Development Corporation's EIN?
Naugatuck Valley Housing Development Corporation's Employer Identification Number (EIN) is 222898850. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Naugatuck Valley Housing Development Corporation?
Naugatuck Valley Housing Development Corporation is classified under NTEE code Unknown (Unknown).
Is Naugatuck Valley Housing Development Corporation a registered 501(c)(3)?
Naugatuck Valley Housing Development Corporation appears in IRS records (EIN: 222898850). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Naugatuck Valley Housing Development Corporation file IRS Form 990?
Yes, Naugatuck Valley Housing Development Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202308.
What was Naugatuck Valley Housing Development Corporation's revenue in 2023?
In the 202308 filing period, Naugatuck Valley Housing Development Corporation reported total revenue of $28,266, total expenses of $21,952, and net assets of $84,958.
Is Naugatuck Valley Housing Development Corporation's revenue growing or declining?
Naugatuck Valley Housing Development Corporation's revenue is relatively stable. Revenue went from $27,068 (202208) to $28,266 (202308), a +4.4% change. Based on 13 filings on record.
What is Naugatuck Valley Housing Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Naugatuck Valley Housing Development Corporation covers tax period 202308. It shows revenue of $28,266, expenses of $21,952, total assets of $84,958, and liabilities of $149.
How much does Naugatuck Valley Housing Development Corporation spend on programs vs administration?
Based on IRS 990 analysis, Naugatuck Valley Housing Development Corporation allocates approximately 78% of expenses to program services, 12% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Naugatuck Valley Housing Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Naugatuck Valley Housing Development Corporation shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Naugatuck Valley Housing Development Corporation?
The following concerns were identified: Lack of detailed program information makes it difficult to assess direct impact.. Consistent reporting of $0 executive compensation may mask indirect compensation or volunteer-only leadership, requiring clarification.. Revenue and asset growth have been modest over the past several years, suggesting limited expansion.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Naugatuck Valley Housing Development Corporation's strengths?
Positive indicators for Naugatuck Valley Housing Development Corporation include: Consistent financial reporting over many years demonstrates operational stability.. Low administrative and fundraising percentages (12% and 10% respectively) suggest efficient use of funds.. The organization maintains a positive asset balance, indicating financial solvency.. These findings are derived from AI analysis of the organization's financial filings.
How does Naugatuck Valley Housing Development Corporation compensate executives?
Executive compensation is reported as $0 across all available filings, indicating either volunteer leadership or compensation is covered by another entity, which warrants further investigation. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent $0 executive compensation, how does the organization sustain its leadership and operational management?
The consistent reporting of $0 for officer, director, trustee, and key employee compensation suggests either a fully volunteer-run organization, or that compensation is provided by an affiliated entity not detailed in these specific filings. This structure could be a strength in terms of cost efficiency but also raises questions about long-term leadership sustainability and potential hidden costs.
What specific housing development programs does Naugatuck Valley Housing Development Corporation operate, and what is their measurable impact on the community?
The provided financial data, while detailing revenue and expenses, does not offer specific program names, descriptions, or measurable outcomes. To understand their impact, one would need to consult their annual reports, website, or other public disclosures that detail their housing initiatives and beneficiary statistics.
Filing History
IRS 990 filing history for Naugatuck Valley Housing Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Naugatuck Valley Housing Development Corporation's revenue has declined by 40.6%, moving from $48K to $28K. Total assets increased by 526.6% over the same period, from $14K to $85K. Total functional expenses fell by 48.2%, from $42K to $22K. In its most recent filing year (2023), Naugatuck Valley Housing Development Corporation reported a surplus of $6K, with revenue exceeding expenses. The organization holds $149 in liabilities against $85K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $85K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $28K | $22K | $85K | $149 | — | — |
| 2022 | $27K | $18K | $79K | $149 | — | — |
| 2021 | $25K | $23K | $70K | $0 | — | — |
| 2020 | $24K | $20K | $67K | $0 | — | — |
| 2019 | $38K | $20K | $63K | $0 | — | View 990 |
| 2018 | $29K | $31K | $45K | $0 | — | View 990 |
| 2017 | $36K | $17K | $48K | $0 | — | View 990 |
| 2016 | $34K | $24K | $29K | $0 | — | View 990 |
| 2015 | $52K | $41K | $20K | $0 | — | View 990 |
| 2014 | $32K | $53K | $9K | $0 | — | View 990 |
| 2013 | $54K | $44K | $30K | $0 | — | View 990 |
| 2012 | $81K | $65K | $24K | $4K | — | View 990 |
| 2011 | $48K | $42K | $14K | $9K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $28K, expenses of $22K, and assets of $85K (revenue +4.4% year-over-year).
- 2022: Revenue of $27K, expenses of $18K, and assets of $79K (revenue +6.9% year-over-year).
- 2021: Revenue of $25K, expenses of $23K, and assets of $70K (revenue +6.1% year-over-year).
- 2020: Revenue of $24K, expenses of $20K, and assets of $67K (revenue -37.7% year-over-year).
- 2019: Revenue of $38K, expenses of $20K, and assets of $63K (revenue +33.6% year-over-year).
- 2018: Revenue of $29K, expenses of $31K, and assets of $45K (revenue -20.3% year-over-year).
- 2017: Revenue of $36K, expenses of $17K, and assets of $48K (revenue +7.0% year-over-year).
- 2016: Revenue of $34K, expenses of $24K, and assets of $29K (revenue -34.9% year-over-year).
- 2015: Revenue of $52K, expenses of $41K, and assets of $20K (revenue +63.3% year-over-year).
- 2014: Revenue of $32K, expenses of $53K, and assets of $9K (revenue -41.2% year-over-year).
- 2013: Revenue of $54K, expenses of $44K, and assets of $30K (revenue -33.4% year-over-year).
- 2012: Revenue of $81K, expenses of $65K, and assets of $24K (revenue +69.5% year-over-year).
- 2011: Revenue of $48K, expenses of $42K, and assets of $14K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Naugatuck Valley Housing Development Corporation:
Data Sources and Methodology
This transparency report for Naugatuck Valley Housing 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.