Phipps Houses
Phipps Houses shows strong asset growth and substantial revenue, with low reported expenses relative to income and no disclosed officer compensation.
EIN: 111187480 · New York, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $21.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $100 |
| Net Assets | $788.9M |
| Transparency Score | 70/100 |
Is Phipps Houses Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Phipps Houses directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Phipps Houses
Phipps Houses (EIN: 111187480) is a nonprofit organization based in New York, NY, classified under NTEE code L20. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Phipps Houses's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Phipps Houses is a major nonprofit that has been operating for 78 years, with 13 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of 12.6%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $101.2M |
| Total Expenses | $21.1M |
| Surplus / Deficit | +$80.1M |
| Total Assets | $827.2M |
| Total Liabilities | $38.3M |
| Net Assets | $788.9M |
| Operating Margin | 79.1% |
| Debt-to-Asset Ratio | 4.6% |
| Months of Reserves | 470.6 months |
Financial Health Grade: A
In 2022, Phipps Houses reported a surplus of $80.1M with revenue exceeding expenses, holds 470.6 months of operating reserves (strong position), has a debt-to-asset ratio of 4.6% (very low leverage).
Financial Trends
Over 13 years of filings (2010–2022), Phipps Houses's revenue has grown at a compound annual growth rate (CAGR) of 12.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +14.9% | -1.9% | +9.6% |
| 2021 | +10.4% | +9.9% | +9.6% |
| 2020 | +174.2% | +40.8% | +28.2% |
| 2019 | -37.2% | +4.3% | +2.2% |
| 2018 | -13.5% | -17.9% | +1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1948 |
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 Phipps Houses with a Mission Score of 70 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, Phipps Houses 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $80.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.6%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an organization with over $100 million in revenue and hundreds of millions in assets. This lack of disclosure significantly impacts transparency regarding executive remuneration and warrants further investigation into how leadership is compensated.
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 Phipps Houses's IRS 990 filings:
- Consistent 0% officer compensation reported, impacting transparency.
- Large discrepancy between reported revenue and expenses, requiring deeper financial analysis to understand operational efficiency.
- Lack of detailed breakdown on how significant revenue is utilized beyond general expenses in summary data.
Strengths
The following positive indicators were identified for Phipps Houses:
- Strong and consistent growth in assets, reaching over $827 million in 2022.
- Substantial revenue generation, exceeding $100 million in 2022.
- Long history of IRS 990 filings, indicating established operations.
Frequently Asked Questions about Phipps Houses
Is Phipps Houses a legitimate charity?
Based on AI analysis of IRS 990 filings, Phipps Houses (EIN: 111187480) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Phipps Houses spend its money?
Phipps Houses directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Phipps Houses tax-deductible?
Phipps Houses is registered as a tax-exempt nonprofit (EIN: 111187480). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Phipps Houses CEO make?
Phipps Houses's highest-compensated officer earns $100 annually. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Phipps Houses's spending goes to programs?
Phipps Houses directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Phipps Houses compare to similar nonprofits?
With a transparency score of 70/100 (Good), Phipps Houses 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 Phipps Houses located?
Phipps Houses is headquartered in New York, New York and files with the IRS under EIN 111187480. It is classified under NTEE code L20.
How many years of IRS 990 filings does Phipps Houses have?
Phipps Houses 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.
Is Phipps Houses a good charity?
Phipps Houses appears to be a financially strong organization with significant assets and revenue, indicating a robust capacity to pursue its mission of housing development. However, the lack of reported officer compensation and the large discrepancy between revenue and expenses in the 990s suggest that a full assessment of its 'goodness' as a charity requires more detailed financial statements to understand operational efficiency and executive pay practices.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization of this size. This could indicate that executive compensation is paid by a related entity, not directly by the filing entity, or is reported under a different category not captured by the 'Officer Comp' metric in the summary data. This practice reduces transparency.
What accounts for the large difference between revenue and expenses?
The significant difference between revenue and expenses (e.g., $101M revenue vs. $21M expenses in 2022) is likely due to the nature of Phipps Houses' work in housing development. Much of the revenue may consist of capital contributions, grants for specific development projects, or financing that is not immediately expensed as operational costs, but rather invested in long-term assets. The reported expenses likely reflect administrative and program delivery costs, not the full capital outlay for housing projects.
Filing History
IRS 990 filing history for Phipps Houses showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2022), Phipps Houses's revenue has grown by 314%, moving from $24.4M to $101.2M. Total assets increased by 590.5% over the same period, from $119.8M to $827.2M. Total functional expenses rose by 117.4%, from $9.7M to $21.1M. In its most recent filing year (2022), Phipps Houses reported a surplus of $80.1M, with revenue exceeding expenses. The organization holds $38.3M in liabilities against $827.2M in assets (debt-to-asset ratio: 4.6%), resulting in net assets of $788.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $101.2M | $21.1M | $827.2M | $38.3M | — | View 990 |
| 2021 | $88.0M | $21.5M | $754.8M | $45.7M | — | View 990 |
| 2020 | $79.7M | $19.6M | $688.8M | $51.1M | — | — |
| 2019 | $29.1M | $13.9M | $537.4M | $47.7M | — | — |
| 2018 | $46.3M | $13.3M | $525.8M | $51.0M | — | View 990 |
| 2017 | $53.5M | $16.2M | $517.2M | $42.3M | — | View 990 |
| 2016 | $181.8M | $12.0M | $452.9M | $42.2M | — | View 990 |
| 2015 | $55.4M | $12.3M | $272.4M | $39.4M | — | View 990 |
| 2014 | $39.6M | $11.3M | $236.0M | $41.5M | — | View 990 |
| 2013 | $62.6M | $10.6M | $214.1M | $26.8M | — | View 990 |
| 2012 | $30.4M | $9.9M | $156.8M | $30.5M | — | View 990 |
| 2011 | $27.1M | $9.9M | $135.8M | $29.8M | — | View 990 |
| 2010 | $24.4M | $9.7M | $119.8M | $22.2M | — | — |
Year-by-Year Financial Summary
- 2022: Revenue of $101.2M, expenses of $21.1M, and assets of $827.2M (revenue +14.9% year-over-year).
- 2021: Revenue of $88.0M, expenses of $21.5M, and assets of $754.8M (revenue +10.4% year-over-year).
- 2020: Revenue of $79.7M, expenses of $19.6M, and assets of $688.8M (revenue +174.2% year-over-year).
- 2019: Revenue of $29.1M, expenses of $13.9M, and assets of $537.4M (revenue -37.2% year-over-year).
- 2018: Revenue of $46.3M, expenses of $13.3M, and assets of $525.8M (revenue -13.5% year-over-year).
- 2017: Revenue of $53.5M, expenses of $16.2M, and assets of $517.2M (revenue -70.5% year-over-year).
- 2016: Revenue of $181.8M, expenses of $12.0M, and assets of $452.9M (revenue +228.4% year-over-year).
- 2015: Revenue of $55.4M, expenses of $12.3M, and assets of $272.4M (revenue +39.7% year-over-year).
- 2014: Revenue of $39.6M, expenses of $11.3M, and assets of $236.0M (revenue -36.7% year-over-year).
- 2013: Revenue of $62.6M, expenses of $10.6M, and assets of $214.1M (revenue +105.7% year-over-year).
- 2012: Revenue of $30.4M, expenses of $9.9M, and assets of $156.8M (revenue +12.3% year-over-year).
- 2011: Revenue of $27.1M, expenses of $9.9M, and assets of $135.8M (revenue +10.9% year-over-year).
- 2010: Revenue of $24.4M, expenses of $9.7M, and assets of $119.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Phipps Houses:
Data Sources and Methodology
This transparency report for Phipps Houses 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.