Parree Porter Sr Housing Inc
Parree Porter Sr Housing Inc faces persistent operational deficits and declining assets over the last decade.
EIN: 204293550 · Washington, NC · NTEE: L22 · Updated: 2026-03-28
Is Parree Porter Sr Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Parree Porter Sr Housing Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Parree Porter Sr Housing Inc
Parree Porter Sr Housing Inc (EIN: 204293550) is a nonprofit organization based in Washington, NC, classified under NTEE code L22. The organization reported total revenue of $598K and total assets of $4.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Parree Porter Sr Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Parree Porter Sr Housing Inc is a small nonprofit that has been operating for 12 years, with 14 years of IRS 990 filings on record (2008–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $524K |
| Total Expenses | $631K |
| Surplus / Deficit | $-106,535 |
| Total Assets | $4.4M |
| Total Liabilities | $6.3M |
| Net Assets | $-1,938,348 |
| Operating Margin | -20.3% |
| Debt-to-Asset Ratio | 144.0% |
| Months of Reserves | 83.9 months |
Financial Health Grade: C
In 2023, Parree Porter Sr Housing Inc reported a deficit of $107K with expenses exceeding revenue, holds 83.9 months of operating reserves (strong position), has a debt-to-asset ratio of 144.0% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.8% | -2.2% | -2.5% |
| 2022 | +4.2% | +6.0% | -3.3% |
| 2021 | -1.1% | +11.5% | -3.0% |
| 2020 | +13.4% | -7.3% | -1.9% |
| 2019 | +6.8% | +15.6% | -2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
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 Parree Porter Sr Housing Inc with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Parree Porter Sr Housing Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $107K, with expenses exceeding revenue.
- Debt-to-asset ratio: 144.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not receiving salaries from the organization, which is a positive sign for resource allocation given the organization's size and financial challenges.
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 Parree Porter Sr Housing Inc's IRS 990 filings:
- Consistent operational deficits for over a decade (e.g., $631,031 expenses vs. $524,496 revenue in 2023).
- Declining asset base over time (from $5.5M in 2014 to $4.4M in 2023).
- High liabilities relative to assets (e.g., $6.3M liabilities vs. $4.4M assets in 2023).
Strengths
The following positive indicators were identified for Parree Porter Sr Housing Inc:
- 0% officer compensation reported across all filings, indicating volunteer leadership or external funding for executive roles.
- Consistent filing of IRS 990 forms, demonstrating transparency.
- Addresses a critical community need for senior housing (NTEE L22).
Frequently Asked Questions about Parree Porter Sr Housing Inc
Is Parree Porter Sr Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Parree Porter Sr Housing Inc (EIN: 204293550) some concerns. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
How does Parree Porter Sr Housing Inc spend its money?
Parree Porter Sr Housing Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Parree Porter Sr Housing Inc tax-deductible?
Parree Porter Sr Housing Inc is registered as a tax-exempt nonprofit (EIN: 204293550). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Parree Porter Sr Housing Inc financially sustainable?
The organization has consistently reported expenses exceeding revenue for at least the past decade, leading to a decline in assets from $5.5M in 2014 to $4.4M in 2023. This trend suggests potential long-term sustainability challenges if not addressed.
What is the nature of the high liabilities?
With liabilities consistently around $6.3 million, significantly higher than assets, it's crucial to understand if these are primarily long-term debt related to property acquisition or other obligations, as this impacts financial risk.
How does the organization cover its operational deficits?
Given the recurring deficits, the organization is likely drawing down on its assets or relying on other non-operating income sources not detailed in the provided summary to cover the gap between expenses and revenue.
What is the breakdown of expenses beyond the overall total?
Without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's difficult to fully assess the efficiency of spending and how resources are allocated to its mission.
Filing History
IRS 990 filing history for Parree Porter Sr Housing Inc showing financial trends over 14 years of public records:
In its most recent filing year (2023), Parree Porter Sr Housing Inc reported a deficit of $107K, with expenses exceeding revenue. The organization holds $6.3M in liabilities against $4.4M in assets (debt-to-asset ratio: 144.0%), resulting in net assets of $-1,938,348.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $524K | $631K | $4.4M | $6.3M | — | — |
| 2022 | $487K | $645K | $4.5M | $6.4M | — | View 990 |
| 2021 | $467K | $609K | $4.7M | $6.4M | — | View 990 |
| 2020 | $472K | $546K | $4.8M | $6.4M | — | View 990 |
| 2019 | $416K | $590K | $4.9M | $6.4M | — | View 990 |
| 2018 | $390K | $510K | $5.0M | $6.3M | — | View 990 |
| 2017 | $377K | $504K | $5.2M | $6.3M | — | — |
| 2016 | $338K | $461K | $5.3M | $6.3M | — | View 990 |
| 2015 | $327K | $466K | $5.4M | $6.3M | — | View 990 |
| 2014 | $300K | $438K | $5.6M | $6.3M | — | View 990 |
| 2013 | $281K | $406K | $5.7M | $6.3M | — | View 990 |
| 2012 | $256K | $393K | $5.8M | $6.3M | — | — |
| 2009 | $0 | $0 | $0 | $0 | — | — |
| 2008 | $0 | $0 | $0 | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $524K, expenses of $631K, and assets of $4.4M (revenue +7.8% year-over-year).
- 2022: Revenue of $487K, expenses of $645K, and assets of $4.5M (revenue +4.2% year-over-year).
- 2021: Revenue of $467K, expenses of $609K, and assets of $4.7M (revenue -1.1% year-over-year).
- 2020: Revenue of $472K, expenses of $546K, and assets of $4.8M (revenue +13.4% year-over-year).
- 2019: Revenue of $416K, expenses of $590K, and assets of $4.9M (revenue +6.8% year-over-year).
- 2018: Revenue of $390K, expenses of $510K, and assets of $5.0M (revenue +3.3% year-over-year).
- 2017: Revenue of $377K, expenses of $504K, and assets of $5.2M (revenue +11.6% year-over-year).
- 2016: Revenue of $338K, expenses of $461K, and assets of $5.3M (revenue +3.3% year-over-year).
- 2015: Revenue of $327K, expenses of $466K, and assets of $5.4M (revenue +9.0% year-over-year).
- 2014: Revenue of $300K, expenses of $438K, and assets of $5.6M (revenue +6.7% year-over-year).
- 2013: Revenue of $281K, expenses of $406K, and assets of $5.7M (revenue +9.9% year-over-year).
- 2012: Revenue of $256K, expenses of $393K, and assets of $5.8M.
- 2009: Revenue of $0, expenses of $0, and assets of $0.
- 2008: Revenue of $0, expenses of $0, and assets of $0.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Parree Porter Sr Housing Inc:
Data Sources and Methodology
This transparency report for Parree Porter Sr 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.