New Castle Housing Corporation
New Castle Housing Corporation consistently operates at a deficit, drawing down assets while maintaining 0% officer compensation.
EIN: 201484525 · Westminster, CO · NTEE: L22 · Updated: 2026-03-28
Is New Castle Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Castle Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Castle Housing Corporation
New Castle Housing Corporation (EIN: 201484525) is a nonprofit organization based in Westminster, CO, classified under NTEE code L22. The organization reported total revenue of $253K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Castle Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Castle Housing Corporation is a small nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 4.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $242K |
| Total Expenses | $309K |
| Surplus / Deficit | $-66,791 |
| Total Assets | $1.8M |
| Total Liabilities | $245K |
| Net Assets | $1.5M |
| Operating Margin | -27.6% |
| Debt-to-Asset Ratio | 13.7% |
| Months of Reserves | 69.5 months |
Financial Health Grade: B
In 2024, New Castle Housing Corporation reported a deficit of $67K with expenses exceeding revenue, holds 69.5 months of operating reserves (strong position), has a debt-to-asset ratio of 13.7% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), New Castle Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +0.0% | +7.4% | -4.2% |
| 2023 | +13.1% | -9.4% | -4.2% |
| 2022 | -7.1% | +10.1% | -3.2% |
| 2021 | +4.7% | +5.9% | -3.0% |
| 2020 | +0.0% | -3.5% | -2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 New Castle Housing Corporation with a Mission Score of 85 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, New Castle Housing 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.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $67K, with expenses exceeding revenue.
- Debt-to-asset ratio: 13.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either volunteers or compensated through non-officer roles, which is highly efficient for an organization of its size with annual revenues around $200k-$250k.
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 New Castle Housing Corporation's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue in all reported periods)
- Declining asset base over time (from $2.36M in 2015 to $1.79M in 2024)
Strengths
The following positive indicators were identified for New Castle Housing Corporation:
- 0% reported officer compensation, indicating high efficiency in leadership costs
- Consistent filing of IRS 990s, demonstrating transparency
- Maintains a substantial asset base relative to annual revenue, providing some financial cushion
Frequently Asked Questions about New Castle Housing Corporation
Is New Castle Housing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, New Castle Housing Corporation (EIN: 201484525) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does New Castle Housing Corporation spend its money?
New Castle Housing Corporation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Castle Housing Corporation tax-deductible?
New Castle Housing Corporation is registered as a tax-exempt nonprofit (EIN: 201484525). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is New Castle Housing Corporation financially sustainable given its consistent deficit spending?
The organization has consistently spent more than its revenue for at least the last 10 years, leading to a decline in assets from $2.36 million in 2015 to $1.79 million in 2024. While it still holds significant assets, this trend is not sustainable long-term without increased revenue or reduced expenses.
How does New Castle Housing Corporation fund its operations without officer compensation?
The 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based or compensated through other mechanisms not categorized as officer compensation on the 990, allowing more funds to be directed towards programs and other operational costs.
What is the primary source of New Castle Housing Corporation's revenue?
While the specific breakdown isn't provided in the summary, the consistent revenue figures (around $200k-$250k annually) suggest stable funding, likely from grants, rental income, or other program-related fees typical for housing corporations.
Filing History
IRS 990 filing history for New Castle Housing Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), New Castle Housing Corporation's revenue has grown by 72.4%, moving from $140K to $242K. Total assets decreased by 30.6% over the same period, from $2.6M to $1.8M. Total functional expenses rose by 69.7%, from $182K to $309K. In its most recent filing year (2024), New Castle Housing Corporation reported a deficit of $67K, with expenses exceeding revenue. The organization holds $245K in liabilities against $1.8M in assets (debt-to-asset ratio: 13.7%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $242K | $309K | $1.8M | $245K | — | — |
| 2023 | $242K | $287K | $1.9M | $257K | — | — |
| 2022 | $214K | $317K | $1.9M | $293K | — | View 990 |
| 2021 | $230K | $288K | $2.0M | $255K | — | — |
| 2020 | $220K | $272K | $2.1M | $260K | — | View 990 |
| 2019 | $220K | $282K | $2.1M | $259K | — | View 990 |
| 2018 | $196K | $250K | $2.2M | $282K | — | View 990 |
| 2017 | $182K | $239K | $2.2M | $254K | — | View 990 |
| 2016 | $179K | $239K | $2.3M | $248K | — | View 990 |
| 2015 | $141K | $185K | $2.4M | $251K | — | View 990 |
| 2014 | $161K | $225K | $2.4M | $250K | — | View 990 |
| 2013 | $162K | $213K | $2.5M | $248K | — | View 990 |
| 2012 | $151K | $212K | $2.5M | $255K | — | View 990 |
| 2011 | $140K | $182K | $2.6M | $253K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $242K, expenses of $309K, and assets of $1.8M (revenue +0.0% year-over-year).
- 2023: Revenue of $242K, expenses of $287K, and assets of $1.9M (revenue +13.1% year-over-year).
- 2022: Revenue of $214K, expenses of $317K, and assets of $1.9M (revenue -7.1% year-over-year).
- 2021: Revenue of $230K, expenses of $288K, and assets of $2.0M (revenue +4.7% year-over-year).
- 2020: Revenue of $220K, expenses of $272K, and assets of $2.1M (revenue +0.0% year-over-year).
- 2019: Revenue of $220K, expenses of $282K, and assets of $2.1M (revenue +12.2% year-over-year).
- 2018: Revenue of $196K, expenses of $250K, and assets of $2.2M (revenue +7.9% year-over-year).
- 2017: Revenue of $182K, expenses of $239K, and assets of $2.2M (revenue +1.6% year-over-year).
- 2016: Revenue of $179K, expenses of $239K, and assets of $2.3M (revenue +26.6% year-over-year).
- 2015: Revenue of $141K, expenses of $185K, and assets of $2.4M (revenue -12.1% year-over-year).
- 2014: Revenue of $161K, expenses of $225K, and assets of $2.4M (revenue -0.5% year-over-year).
- 2013: Revenue of $162K, expenses of $213K, and assets of $2.5M (revenue +7.1% year-over-year).
- 2012: Revenue of $151K, expenses of $212K, and assets of $2.5M (revenue +7.5% year-over-year).
- 2011: Revenue of $140K, expenses of $182K, and assets of $2.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Castle Housing Corporation:
Data Sources and Methodology
This transparency report for New Castle 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.