Nazareth Housing Development
EIN: 341908695 · Akron, OH · NTEE: L40
| Metric | Value |
|---|---|
| Total Revenue | $473K |
| Total Expenses | $588K |
| Net Assets | $1.1M |
Is Nazareth Housing Development Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Nazareth Housing Development
Nazareth Housing Development (EIN: 341908695) is a nonprofit organization based in Akron, OH, classified under NTEE code L40. The organization reported total revenue of $473K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nazareth Housing Development's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nazareth Housing Development is a small nonprofit that has been operating for 25 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $507K |
| Total Expenses | $588K |
| Surplus / Deficit | $-80,993 |
| Total Assets | $1.3M |
| Total Liabilities | $172K |
| Net Assets | $1.1M |
| Operating Margin | -16.0% |
| Debt-to-Asset Ratio | 13.1% |
| Months of Reserves | 26.9 months |
Financial Health Grade: B
In 2023, Nazareth Housing Development reported a deficit of $81K with expenses exceeding revenue, holds 26.9 months of operating reserves (strong position), has a debt-to-asset ratio of 13.1% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Nazareth Housing Development's revenue has declined at a compound annual growth rate (CAGR) of -3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.6% | +4.6% | -0.1% |
| 2022 | +47.1% | +51.9% | -6.7% |
| 2021 | +15.7% | -4.2% | +5.1% |
| 2020 | -46.7% | -18.2% | -4.2% |
| 2019 | -35.6% | -46.5% | +0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Nazareth Housing Development has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Nazareth Housing Development with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $81K, with expenses exceeding revenue.
- Debt-to-asset ratio: 13.1%.
Frequently Asked Questions about Nazareth Housing Development
Is Nazareth Housing Development a legitimate charity?
Nazareth Housing Development (EIN: 341908695) is a registered tax-exempt nonprofit based in Ohio. It has 14 years of IRS 990 filings on record. Total revenue: $473K. No red flags identified. Financial health grade: B.
How does Nazareth Housing Development spend its money?
Nazareth Housing Development reported $473K in total revenue in IRS 990 filings. 14 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Nazareth Housing Development tax-deductible?
Nazareth Housing Development is registered as a tax-exempt nonprofit (EIN: 341908695). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Nazareth Housing Development located?
Nazareth Housing Development is headquartered in Akron, Ohio and files with the IRS under EIN 341908695. It is classified under NTEE code L40.
How many years of IRS 990 filings does Nazareth Housing Development have?
Nazareth Housing Development has 14 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 $473K in total revenue.
Filing History
IRS 990 filing history for Nazareth Housing Development showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Nazareth Housing Development's revenue has declined by 32.7%, moving from $754K to $507K. Total assets increased by 214.8% over the same period, from $418K to $1.3M. Total functional expenses fell by 19.4%, from $730K to $588K. In its most recent filing year (2023), Nazareth Housing Development reported a deficit of $81K, with expenses exceeding revenue. The organization holds $172K in liabilities against $1.3M in assets (debt-to-asset ratio: 13.1%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $507K | $588K | $1.3M | $172K | — | — |
| 2022 | $543K | $562K | $1.3M | $92K | — | View 990 |
| 2021 | $369K | $370K | $1.4M | $167K | — | View 990 |
| 2020 | $319K | $386K | $1.3M | $62K | — | View 990 |
| 2019 | $599K | $472K | $1.4M | $53K | — | View 990 |
| 2018 | $930K | $882K | $1.4M | $175K | — | View 990 |
| 2017 | $655K | $555K | $1.2M | $59K | — | View 990 |
| 2016 | $379K | $293K | $1.1M | $76K | — | View 990 |
| 2015 | $443K | $178K | $1.2M | $174K | — | View 990 |
| 2014 | $957K | $729K | $826K | $107K | — | View 990 |
| 2013 | $704K | $707K | $641K | $342K | — | View 990 |
| 2012 | $660K | $512K | $859K | $557K | — | View 990 |
| 2011 | $222K | $191K | $746K | $592K | — | View 990 |
| 2010 | $754K | $730K | $418K | $296K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $507K, expenses of $588K, and assets of $1.3M (revenue -6.6% year-over-year).
- 2022: Revenue of $543K, expenses of $562K, and assets of $1.3M (revenue +47.1% year-over-year).
- 2021: Revenue of $369K, expenses of $370K, and assets of $1.4M (revenue +15.7% year-over-year).
- 2020: Revenue of $319K, expenses of $386K, and assets of $1.3M (revenue -46.7% year-over-year).
- 2019: Revenue of $599K, expenses of $472K, and assets of $1.4M (revenue -35.6% year-over-year).
- 2018: Revenue of $930K, expenses of $882K, and assets of $1.4M (revenue +42.0% year-over-year).
- 2017: Revenue of $655K, expenses of $555K, and assets of $1.2M (revenue +72.8% year-over-year).
- 2016: Revenue of $379K, expenses of $293K, and assets of $1.1M (revenue -14.5% year-over-year).
- 2015: Revenue of $443K, expenses of $178K, and assets of $1.2M (revenue -53.7% year-over-year).
- 2014: Revenue of $957K, expenses of $729K, and assets of $826K (revenue +35.9% year-over-year).
- 2013: Revenue of $704K, expenses of $707K, and assets of $641K (revenue +6.6% year-over-year).
- 2012: Revenue of $660K, expenses of $512K, and assets of $859K (revenue +197.6% year-over-year).
- 2011: Revenue of $222K, expenses of $191K, and assets of $746K (revenue -70.6% year-over-year).
- 2010: Revenue of $754K, expenses of $730K, and assets of $418K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nazareth Housing Development:
Data Sources and Methodology
This transparency report for Nazareth Housing Development 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.