Olivet St Vincents Housing Development Fund Company Inc
Olivet St Vincents Housing Development Fund Company Inc consistently generates surpluses with no reported officer compensation.
EIN: 133178692 · Staten Island, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $1.4M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $-302,985 |
| Transparency Score | 85/100 |
Is Olivet St Vincents Housing Development Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Olivet St Vincents Housing Development Fund Company Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Olivet St Vincents Housing Development Fund Company Inc
Olivet St Vincents Housing Development Fund Company Inc (EIN: 133178692) is a nonprofit organization based in Staten Island, NY. The organization reported total revenue of $1.9M and total assets of $10.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Olivet St Vincents Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Olivet St Vincents Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $1.4M |
| Surplus / Deficit | +$106K |
| Total Assets | $3.4M |
| Total Liabilities | $3.7M |
| Net Assets | $-302,985 |
| Operating Margin | 7.2% |
| Debt-to-Asset Ratio | 108.9% |
| Months of Reserves | 30.0 months |
Financial Health Grade: A
In 2023, Olivet St Vincents Housing Development Fund Company Inc reported a surplus of $106K with revenue exceeding expenses, holds 30.0 months of operating reserves (strong position), has a debt-to-asset ratio of 108.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Olivet St Vincents Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.3% | +6.1% | +4.0% |
| 2022 | -0.2% | +4.8% | -2.1% |
| 2021 | +0.6% | +3.3% | +1.5% |
| 2020 | -9.6% | -4.4% | +0.7% |
| 2019 | +37.3% | +12.0% | +8.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Olivet St Vincents Housing Development Fund Company 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Olivet St Vincents Housing Development Fund Company Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $106K, with revenue exceeding expenses.
- Debt-to-asset ratio: 108.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization with over $1 million in annual revenue and assets exceeding $3 million.
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 Olivet St Vincents Housing Development Fund Company Inc's IRS 990 filings:
- NTEE Code is unknown, hindering direct peer comparison.
- Liabilities consistently exceed assets in many periods, indicating significant debt financing.
Strengths
The following positive indicators were identified for Olivet St Vincents Housing Development Fund Company Inc:
- Consistent financial surpluses, indicating sound management (e.g., $1,465,634 revenue vs. $1,359,478 expenses in 2023).
- 0% officer compensation reported across all filings, suggesting high efficiency in directing funds to mission.
- Consistent growth in assets over the last few years (e.g., from $3,003,355 in 2018 to $3,398,780 in 2023).
- Long history of IRS 990 filings (13 filings), demonstrating transparency and compliance.
Frequently Asked Questions about Olivet St Vincents Housing Development Fund Company Inc
Is Olivet St Vincents Housing Development Fund Company Inc a legitimate charity?
Olivet St Vincents Housing Development Fund Company Inc (EIN: 133178692) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.9M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Olivet St Vincents Housing Development Fund Company Inc spend its money?
Olivet St Vincents Housing Development Fund Company Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Olivet St Vincents Housing Development Fund Company Inc tax-deductible?
Olivet St Vincents Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133178692). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Olivet St Vincents Housing Development Fund Company Inc CEO make?
Olivet St Vincents Housing Development Fund Company Inc's highest-compensated officer earns $1 annually. The organization reported $1.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Olivet St Vincents Housing Development Fund Company Inc's spending goes to programs?
Olivet St Vincents Housing Development Fund Company Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Olivet St Vincents Housing Development Fund Company Inc located?
Olivet St Vincents Housing Development Fund Company Inc is headquartered in Staten Island, New York and files with the IRS under EIN 133178692.
How many years of IRS 990 filings does Olivet St Vincents Housing Development Fund Company Inc have?
Olivet St Vincents Housing Development Fund Company Inc has 13 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 $1.9M in total revenue.
How does Olivet St Vincents Housing Development Fund Company Inc manage to operate without officer compensation?
The filings consistently show 0% officer compensation, which could imply that executive functions are performed by volunteers, compensated by a related entity, or that the organization's structure does not involve paid officers in the traditional sense. Further investigation into their operational model would be needed.
What is the nature of the organization's liabilities, which often exceed assets?
The consistent presence of liabilities exceeding assets, such as $3,701,765 in liabilities against $3,398,780 in assets in 2023, suggests that the organization likely uses significant debt financing, possibly mortgages or loans, to fund its housing development projects. This is common for housing development funds but warrants understanding the terms and sustainability of this debt.
What specific programs does Olivet St Vincents Housing Development Fund Company Inc operate?
Based on the name 'Housing Development Fund Company Inc', the primary program is likely the development and management of affordable housing. However, without a detailed program service expense breakdown from the 990, specific initiatives are not discernible from the provided data.
Filing History
IRS 990 filing history for Olivet St Vincents Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Olivet St Vincents Housing Development Fund Company Inc's revenue has grown by 50.1%, moving from $976K to $1.5M. Total assets decreased by 13.6% over the same period, from $3.9M to $3.4M. Total functional expenses rose by 44%, from $944K to $1.4M. In its most recent filing year (2023), Olivet St Vincents Housing Development Fund Company Inc reported a surplus of $106K, with revenue exceeding expenses. The organization holds $3.7M in liabilities against $3.4M in assets (debt-to-asset ratio: 108.9%), resulting in net assets of $-302,985.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $1.4M | $3.4M | $3.7M | — | View 990 |
| 2022 | $1.3M | $1.3M | $3.3M | $3.7M | — | View 990 |
| 2021 | $1.3M | $1.2M | $3.3M | $3.8M | — | — |
| 2020 | $1.3M | $1.2M | $3.3M | $3.8M | — | View 990 |
| 2019 | $1.5M | $1.2M | $3.3M | $3.9M | — | View 990 |
| 2018 | $1.1M | $1.1M | $3.0M | $3.9M | — | View 990 |
| 2017 | $1.1M | $1.1M | $3.1M | $4.0M | — | View 990 |
| 2016 | $1.1M | $1.0M | $3.2M | $4.0M | — | View 990 |
| 2015 | $1.0M | $1.1M | $3.6M | $4.4M | — | View 990 |
| 2014 | $1.0M | $1.1M | $3.7M | $4.5M | — | View 990 |
| 2013 | $1.0M | $1.0M | $3.9M | $4.6M | — | View 990 |
| 2012 | $983K | $963K | $4.0M | $4.7M | — | View 990 |
| 2011 | $976K | $944K | $3.9M | $4.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $1.4M, and assets of $3.4M (revenue +11.3% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.3M, and assets of $3.3M (revenue -0.2% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.2M, and assets of $3.3M (revenue +0.6% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.2M, and assets of $3.3M (revenue -9.6% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.2M, and assets of $3.3M (revenue +37.3% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.1M, and assets of $3.0M (revenue -2.4% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.1M, and assets of $3.1M (revenue +2.6% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.0M, and assets of $3.2M (revenue +2.6% year-over-year).
- 2015: Revenue of $1.0M, expenses of $1.1M, and assets of $3.6M (revenue -1.6% year-over-year).
- 2014: Revenue of $1.0M, expenses of $1.1M, and assets of $3.7M (revenue +1.4% year-over-year).
- 2013: Revenue of $1.0M, expenses of $1.0M, and assets of $3.9M (revenue +4.8% year-over-year).
- 2012: Revenue of $983K, expenses of $963K, and assets of $4.0M (revenue +0.7% year-over-year).
- 2011: Revenue of $976K, expenses of $944K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Olivet St Vincents Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Olivet St Vincents Housing Development Fund Company 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.