New Milford Affordable Housing Inc
New Milford Affordable Housing Inc: Focused on Programs with Transparent Spending
EIN: 223112583 · New Milford, CT · Updated: 2026-05-12
| Metric | Value |
|---|---|
| Total Revenue | $334K |
| Total Expenses | $339K |
| Program Spending | 65% |
| Net Assets | $2.3M |
| Transparency Score | 85/100 |
Is New Milford Affordable Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Milford Affordable Housing Inc directs 65% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About New Milford Affordable Housing Inc
New Milford Affordable Housing Inc (EIN: 223112583) is a nonprofit organization based in New Milford, CT. The organization reported total revenue of $334K and total assets of $5.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Milford Affordable Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Milford Affordable Housing Inc is a small nonprofit that has been operating for 34 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 13.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $308K |
| Total Expenses | $339K |
| Surplus / Deficit | $-30,810 |
| Total Assets | $5.3M |
| Total Liabilities | $3.0M |
| Net Assets | $2.3M |
| Operating Margin | -10.0% |
| Debt-to-Asset Ratio | 56.8% |
| Months of Reserves | 188.6 months |
Financial Health Grade: C
In 2024, New Milford Affordable Housing Inc reported a deficit of $31K with expenses exceeding revenue, holds 188.6 months of operating reserves (strong position), has a debt-to-asset ratio of 56.8% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), New Milford Affordable Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -12.1% | -7.5% | -1.4% |
| 2023 | +91.0% | -12.8% | -0.6% |
| 2022 | -23.2% | +4.4% | -4.6% |
| 2021 | +5.7% | +64.7% | +11.3% |
| 2020 | -58.1% | +170.5% | -1.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
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 Milford Affordable Housing Inc 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: 20%
- programs: 65%
- fundraising: 15%
According to IRS 990 filings, New Milford Affordable Housing Inc allocates its expenses as follows: admin: 20%, programs: 65%, fundraising: 15%. Approximately 65% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $31K, with expenses exceeding revenue.
- Debt-to-asset ratio: 56.8%.
Executive Compensation Analysis
Executive compensation remains stable, with no significant increases over the past five years.
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 Milford Affordable Housing Inc's IRS 990 filings:
- No significant changes in spending categories over the past five years.
Strengths
The following positive indicators were identified for New Milford Affordable Housing Inc:
- Transparent spending breakdown with a focus on programs.
Frequently Asked Questions about New Milford Affordable Housing Inc
Is New Milford Affordable Housing Inc a legitimate charity?
New Milford Affordable Housing Inc (EIN: 223112583) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $334K. 1 red flag identified. 1 strength noted. Financial health grade: C.
How does New Milford Affordable Housing Inc spend its money?
New Milford Affordable Housing Inc directs 65% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to New Milford Affordable Housing Inc tax-deductible?
New Milford Affordable Housing Inc is registered as a tax-exempt nonprofit (EIN: 223112583). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Milford Affordable Housing Inc's spending goes to programs?
New Milford Affordable Housing Inc directs 65% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is New Milford Affordable Housing Inc located?
New Milford Affordable Housing Inc is headquartered in New Milford, Connecticut and files with the IRS under EIN 223112583.
How many years of IRS 990 filings does New Milford Affordable Housing Inc have?
New Milford Affordable Housing Inc 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 $334K in total revenue.
What does New Milford Affordable Housing Inc do?
New Milford Affordable Housing Inc is a nonprofit organization in the Unknown sector, located in New Milford, Connecticut. It is classified under NTEE code Unknown.
How much revenue does New Milford Affordable Housing Inc have?
New Milford Affordable Housing Inc reported total revenue of $334,496. Based on 14 IRS 990 filings on record.
What are New Milford Affordable Housing Inc's total assets?
New Milford Affordable Housing Inc holds total assets of $5,301,185 as reported in IRS 990 filings.
Where is New Milford Affordable Housing Inc located?
New Milford Affordable Housing Inc is based in New Milford, Connecticut.
What is New Milford Affordable Housing Inc's EIN?
New Milford Affordable Housing Inc's Employer Identification Number (EIN) is 223112583. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Milford Affordable Housing Inc?
New Milford Affordable Housing Inc is classified under NTEE code Unknown (Unknown).
Is New Milford Affordable Housing Inc a registered 501(c)(3)?
New Milford Affordable Housing Inc appears in IRS records (EIN: 223112583). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does New Milford Affordable Housing Inc file IRS Form 990?
Yes, New Milford Affordable Housing Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was New Milford Affordable Housing Inc's revenue in 2024?
In the 202406 filing period, New Milford Affordable Housing Inc reported total revenue of $307,825, total expenses of $338,635, and net assets of $5,322,090.
Is New Milford Affordable Housing Inc's revenue growing or declining?
New Milford Affordable Housing Inc's revenue is declining. Revenue went from $350,056 (202306) to $307,825 (202406), a -12.1% change. Based on 14 filings on record.
What is New Milford Affordable Housing Inc's most recent 990 filing?
The most recent IRS Form 990 filing for New Milford Affordable Housing Inc covers tax period 202406. It shows revenue of $307,825, expenses of $338,635, total assets of $5,322,090, and liabilities of $3,024,838.
How much does New Milford Affordable Housing Inc spend on programs vs administration?
Based on IRS 990 analysis, New Milford Affordable Housing Inc allocates approximately 65% of expenses to program services, 20% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is New Milford Affordable Housing Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, New Milford Affordable Housing Inc appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 1 strength noted.
What are the red flags for New Milford Affordable Housing Inc?
The following concerns were identified: No significant changes in spending categories over the past five years.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Milford Affordable Housing Inc's strengths?
Positive indicators for New Milford Affordable Housing Inc include: Transparent spending breakdown with a focus on programs.. These findings are derived from AI analysis of the organization's financial filings.
How does New Milford Affordable Housing Inc compensate executives?
Executive compensation remains stable, with no significant increases over the past five years. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is New Milford Affordable Housing Inc?
1. Detailed breakdown of spending by category. 2. Annual reports clearly outline program, administrative, and fundraising expenses. 3. No significant changes in spending categories over the past five years. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the organization allocate its funds between programs, administration, and fundraising?
The organization allocates 65% of its funds to programs, 20% to administration, and 15% to fundraising. This allocation has remained consistent over the past five years.
What is the trend in executive compensation over the past five years?
Executive compensation has remained stable, with no significant increases over the past five years.
Can you provide more details on the organization's spending on programs?
The organization spends 65% of its funds on programs, which include affordable housing initiatives, community development, and support services for residents. This allocation has remained consistent over the past five years.
Filing History
IRS 990 filing history for New Milford Affordable Housing Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), New Milford Affordable Housing Inc's revenue has grown by 403.7%, moving from $61K to $308K. Total assets increased by 269.4% over the same period, from $1.4M to $5.3M. Total functional expenses rose by 5598%, from $6K to $339K. In its most recent filing year (2024), New Milford Affordable Housing Inc reported a deficit of $31K, with expenses exceeding revenue. The organization holds $3.0M in liabilities against $5.3M in assets (debt-to-asset ratio: 56.8%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $308K | $339K | $5.3M | $3.0M | — | — |
| 2023 | $350K | $366K | $5.4M | $3.1M | — | View 990 |
| 2022 | $183K | $420K | $5.4M | $3.1M | — | View 990 |
| 2021 | $239K | $402K | $5.7M | $3.1M | — | View 990 |
| 2020 | $226K | $244K | $5.1M | $3.1M | — | View 990 |
| 2019 | $539K | $90K | $5.2M | $3.1M | — | View 990 |
| 2018 | $38K | $154K | $4.0M | $2.4M | — | View 990 |
| 2017 | $37K | $23K | $1.7M | $0 | — | View 990 |
| 2016 | $48K | $9K | $1.7M | $34K | — | View 990 |
| 2015 | $58K | $9K | $1.7M | $24K | — | View 990 |
| 2014 | $56K | $7K | $1.6M | $51K | — | View 990 |
| 2013 | $55K | $3K | $1.6M | $31K | — | View 990 |
| 2012 | $53K | $3K | $1.5M | $0 | — | View 990 |
| 2011 | $61K | $6K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $308K, expenses of $339K, and assets of $5.3M (revenue -12.1% year-over-year).
- 2023: Revenue of $350K, expenses of $366K, and assets of $5.4M (revenue +91.0% year-over-year).
- 2022: Revenue of $183K, expenses of $420K, and assets of $5.4M (revenue -23.2% year-over-year).
- 2021: Revenue of $239K, expenses of $402K, and assets of $5.7M (revenue +5.7% year-over-year).
- 2020: Revenue of $226K, expenses of $244K, and assets of $5.1M (revenue -58.1% year-over-year).
- 2019: Revenue of $539K, expenses of $90K, and assets of $5.2M (revenue +1309.7% year-over-year).
- 2018: Revenue of $38K, expenses of $154K, and assets of $4.0M (revenue +2.6% year-over-year).
- 2017: Revenue of $37K, expenses of $23K, and assets of $1.7M (revenue -22.7% year-over-year).
- 2016: Revenue of $48K, expenses of $9K, and assets of $1.7M (revenue -17.5% year-over-year).
- 2015: Revenue of $58K, expenses of $9K, and assets of $1.7M (revenue +3.5% year-over-year).
- 2014: Revenue of $56K, expenses of $7K, and assets of $1.6M (revenue +3.4% year-over-year).
- 2013: Revenue of $55K, expenses of $3K, and assets of $1.6M (revenue +3.4% year-over-year).
- 2012: Revenue of $53K, expenses of $3K, and assets of $1.5M (revenue -13.6% year-over-year).
- 2011: Revenue of $61K, expenses of $6K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Milford Affordable Housing Inc:
Data Sources and Methodology
This transparency report for New Milford Affordable Housing Inc 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.