New Destiny Housing Corporation
New Destiny Housing Corporation consistently allocates 100% of reported officer compensation to programs, demonstrating strong financial stewardship and growth.
EIN: 133778489 · New York, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $11.5M |
| Total Expenses | $10.7M |
| Program Spending | 100% |
| Net Assets | $14.0M |
| Transparency Score | 95/100 |
Is New Destiny 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 Destiny Housing Corporation directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Destiny Housing Corporation
New Destiny Housing Corporation (EIN: 133778489) is a nonprofit organization based in New York, NY, classified under NTEE code L20. The organization reported total revenue of $11.5M and total assets of $16.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Destiny Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Destiny Housing Corporation is a large nonprofit that has been operating for 31 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 16.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.8M |
| Total Expenses | $10.7M |
| Surplus / Deficit | +$58K |
| Total Assets | $16.1M |
| Total Liabilities | $2.0M |
| Net Assets | $14.0M |
| Operating Margin | 0.5% |
| Debt-to-Asset Ratio | 12.7% |
| Months of Reserves | 18.0 months |
Financial Health Grade: A
In 2024, New Destiny Housing Corporation reported a surplus of $58K with revenue exceeding expenses, holds 18.0 months of operating reserves (strong position), has a debt-to-asset ratio of 12.7% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), New Destiny Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 16.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +0.1% | +5.1% | +1.1% |
| 2023 | +67.6% | +57.9% | +11.4% |
| 2022 | -8.1% | +60.3% | +-0.0% |
| 2021 | +146.1% | +30.1% | +26.3% |
| 2020 | -41.2% | +19.5% | +2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Destiny Housing Corporation with a Mission Score of 95 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, New Destiny Housing Corporation allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 surplus of $58K, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation directly from the organization, which is highly unusual and suggests either pro-bono leadership or compensation is covered by other means not reported on the 990 as officer compensation.
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 Destiny Housing Corporation's IRS 990 filings:
- Unusually low reported liabilities relative to assets in some periods (e.g., $369,615 liabilities vs. $11,032,067 assets in 201906) could warrant further investigation into the nature of their funding and asset structure.
Strengths
The following positive indicators were identified for New Destiny Housing Corporation:
- Consistent reporting of 0% officer compensation, indicating high dedication of resources to programs.
- Significant and consistent growth in revenue and assets over the past five years, demonstrating financial stability and expansion.
- Expenses consistently align with or are slightly below revenue, indicating sound financial management and avoiding significant deficits.
- High transparency with 14 consistent IRS 990 filings.
- Strong asset base ($16,061,459 in 202406) relative to liabilities ($2,035,603 in 202406), indicating financial resilience.
Frequently Asked Questions about New Destiny Housing Corporation
Is New Destiny Housing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, New Destiny Housing Corporation (EIN: 133778489) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does New Destiny Housing Corporation spend its money?
New Destiny Housing Corporation directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Destiny Housing Corporation tax-deductible?
New Destiny Housing Corporation is registered as a tax-exempt nonprofit (EIN: 133778489). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does New Destiny Housing Corporation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), New Destiny 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 New Destiny Housing Corporation located?
New Destiny Housing Corporation is headquartered in New York, New York and files with the IRS under EIN 133778489. It is classified under NTEE code L20.
How many years of IRS 990 filings does New Destiny Housing Corporation have?
New Destiny Housing Corporation 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 $11.5M in total revenue.
Is New Destiny Housing Corporation a good charity?
Based on the provided financial data, New Destiny Housing Corporation appears to be a very good charity. It demonstrates strong financial health, consistent growth in assets and revenue, and a remarkable commitment to program spending, with 0% reported officer compensation across all filings.
How has New Destiny Housing Corporation's financial health changed over the past five years?
New Destiny Housing Corporation has shown significant financial growth over the past five years. Revenue increased from $2,844,044 in 202006 to $10,789,755 in 202406, and assets grew from $11,293,009 to $16,061,459 in the same period, indicating robust expansion and financial stability.
What is the organization's approach to executive compensation?
The organization consistently reports 0% for officer compensation in all available IRS 990 filings. This suggests that either executive leadership is entirely volunteer-based, or their compensation is structured in a way that it is not reported as officer compensation on the 990, which is a highly unusual and positive indicator for direct mission spending.
Filing History
IRS 990 filing history for New Destiny Housing Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), New Destiny Housing Corporation's revenue has grown by 602.2%, moving from $1.5M to $10.8M. Total assets increased by 117.1% over the same period, from $7.4M to $16.1M. Total functional expenses rose by 558.6%, from $1.6M to $10.7M. In its most recent filing year (2024), New Destiny Housing Corporation reported a surplus of $58K, with revenue exceeding expenses. The organization holds $2.0M in liabilities against $16.1M in assets (debt-to-asset ratio: 12.7%), resulting in net assets of $14.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $10.8M | $10.7M | $16.1M | $2.0M | — | View 990 |
| 2023 | $10.8M | $10.2M | $15.9M | $2.0M | — | — |
| 2022 | $6.4M | $6.5M | $14.3M | $967K | — | View 990 |
| 2021 | $7.0M | $4.0M | $14.3M | $887K | — | — |
| 2020 | $2.8M | $3.1M | $11.3M | $886K | — | View 990 |
| 2019 | $4.8M | $2.6M | $11.0M | $370K | — | View 990 |
| 2018 | $2.4M | $2.1M | $6.1M | $445K | — | View 990 |
| 2017 | $2.7M | $2.1M | $6.2M | $192K | — | View 990 |
| 2016 | $1.7M | $1.8M | $6.0M | $1.2M | — | View 990 |
| 2015 | $2.0M | $2.1M | $6.4M | $1.6M | — | View 990 |
| 2014 | $2.4M | $2.1M | $7.9M | $942K | — | View 990 |
| 2013 | $2.4M | $1.5M | $7.5M | $837K | — | View 990 |
| 2012 | $2.0M | $1.9M | $6.7M | $835K | — | View 990 |
| 2011 | $1.5M | $1.6M | $7.4M | $851K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $10.8M, expenses of $10.7M, and assets of $16.1M (revenue +0.1% year-over-year).
- 2023: Revenue of $10.8M, expenses of $10.2M, and assets of $15.9M (revenue +67.6% year-over-year).
- 2022: Revenue of $6.4M, expenses of $6.5M, and assets of $14.3M (revenue -8.1% year-over-year).
- 2021: Revenue of $7.0M, expenses of $4.0M, and assets of $14.3M (revenue +146.1% year-over-year).
- 2020: Revenue of $2.8M, expenses of $3.1M, and assets of $11.3M (revenue -41.2% year-over-year).
- 2019: Revenue of $4.8M, expenses of $2.6M, and assets of $11.0M (revenue +104.4% year-over-year).
- 2018: Revenue of $2.4M, expenses of $2.1M, and assets of $6.1M (revenue -10.8% year-over-year).
- 2017: Revenue of $2.7M, expenses of $2.1M, and assets of $6.2M (revenue +58.0% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.8M, and assets of $6.0M (revenue -14.9% year-over-year).
- 2015: Revenue of $2.0M, expenses of $2.1M, and assets of $6.4M (revenue -17.6% year-over-year).
- 2014: Revenue of $2.4M, expenses of $2.1M, and assets of $7.9M (revenue +1.3% year-over-year).
- 2013: Revenue of $2.4M, expenses of $1.5M, and assets of $7.5M (revenue +18.4% year-over-year).
- 2012: Revenue of $2.0M, expenses of $1.9M, and assets of $6.7M (revenue +29.8% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.6M, and assets of $7.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Destiny Housing Corporation:
Data Sources and Methodology
This transparency report for New Destiny 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.