Praxis Housing Initiatives Inc
Praxis Housing Initiatives Inc. shows strong program spending but recent financial shifts warrant closer examination.
EIN: 133832223 · New York, NY · NTEE: L25 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $38.3M |
| Total Expenses | $34.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $30 |
| Net Assets | $9.1M |
| Transparency Score | 85/100 |
Is Praxis Housing Initiatives Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Praxis Housing Initiatives Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Praxis Housing Initiatives Inc
Praxis Housing Initiatives Inc (EIN: 133832223) is a nonprofit organization based in New York, NY, classified under NTEE code L25. The organization reported total revenue of $38.3M and total assets of $54.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Praxis Housing Initiatives Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Praxis Housing Initiatives Inc is a large nonprofit that has been operating for 31 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $34.1M |
| Total Expenses | $34.8M |
| Surplus / Deficit | $-668,241 |
| Total Assets | $57.3M |
| Total Liabilities | $48.2M |
| Net Assets | $9.1M |
| Operating Margin | -2.0% |
| Debt-to-Asset Ratio | 84.2% |
| Months of Reserves | 19.8 months |
Financial Health Grade: C
In 2023, Praxis Housing Initiatives Inc reported a deficit of $668K with expenses exceeding revenue, holds 19.8 months of operating reserves (strong position), has a debt-to-asset ratio of 84.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Praxis Housing Initiatives Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.3% | -0.1% | +218.2% |
| 2022 | -18.7% | -17.2% | +2.6% |
| 2021 | +46.9% | +47.6% | +34.0% |
| 2020 | +24.0% | +22.9% | +46.2% |
| 2019 | +29.7% | +29.9% | +12.5% |
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 Praxis Housing Initiatives 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Praxis Housing Initiatives Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $668K, with expenses exceeding revenue.
- Debt-to-asset ratio: 84.2%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an organization of this size with revenues exceeding $30 million. This suggests executive compensation may be reported in other expense categories or that the organization operates with an entirely volunteer executive leadership, which would be exceptional.
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 Praxis Housing Initiatives Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is atypical for an organization of this size and revenue.
- Significant increase in liabilities in the latest filing period (202306) without clear public explanation.
- Expenses slightly exceeded revenue in the latest filing period (202306).
Strengths
The following positive indicators were identified for Praxis Housing Initiatives Inc:
- Strong historical program spending, indicating mission focus.
- Consistent revenue growth over the past decade, demonstrating organizational expansion.
- Generally healthy financial position with revenues often exceeding expenses in prior years.
Frequently Asked Questions about Praxis Housing Initiatives Inc
Is Praxis Housing Initiatives Inc a legitimate charity?
Praxis Housing Initiatives Inc (EIN: 133832223) 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: $38.3M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Praxis Housing Initiatives Inc spend its money?
Praxis Housing Initiatives Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Praxis Housing Initiatives Inc tax-deductible?
Praxis Housing Initiatives Inc is registered as a tax-exempt nonprofit (EIN: 133832223). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Praxis Housing Initiatives Inc CEO make?
Praxis Housing Initiatives Inc's highest-compensated officer earns $30 annually. The organization reported $38.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Praxis Housing Initiatives Inc's spending goes to programs?
Praxis Housing Initiatives Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Praxis Housing Initiatives Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Praxis Housing Initiatives Inc is above average for NTEE category L25 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Praxis Housing Initiatives Inc located?
Praxis Housing Initiatives Inc is headquartered in New York, New York and files with the IRS under EIN 133832223. It is classified under NTEE code L25.
How many years of IRS 990 filings does Praxis Housing Initiatives Inc have?
Praxis Housing Initiatives 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 $38.3M in total revenue.
Is Praxis Housing Initiatives Inc. a good charity?
Based on its consistent program spending and growth in services, it appears to be effective in its mission. However, the reporting of 0% officer compensation and the recent significant increase in assets and liabilities require further clarification for a complete assessment of its financial health and transparency.
Why is officer compensation consistently reported as 0%?
This is a significant question. It could mean executives are compensated through a related entity, or their salaries are categorized differently, or the organization truly operates without paid officers, which would be highly unusual for its scale. Further investigation into their financial statements beyond the summary 990 data would be needed.
What caused the substantial increase in assets and liabilities in 202306?
The jump from $18,010,382 in assets and $8,282,736 in liabilities in 202206 to $57,309,356 in assets and $48,249,951 in liabilities in 202306 suggests a major capital investment, property acquisition, or significant debt restructuring. This should be detailed in their financial statements or annual report.
Filing History
IRS 990 filing history for Praxis Housing Initiatives Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Praxis Housing Initiatives Inc's revenue has grown by 248.8%, moving from $9.8M to $34.1M. Total assets increased by 726.9% over the same period, from $6.9M to $57.3M. Total functional expenses rose by 269.9%, from $9.4M to $34.8M. In its most recent filing year (2023), Praxis Housing Initiatives Inc reported a deficit of $668K, with expenses exceeding revenue. The organization holds $48.2M in liabilities against $57.3M in assets (debt-to-asset ratio: 84.2%), resulting in net assets of $9.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $34.1M | $34.8M | $57.3M | $48.2M | — | View 990 |
| 2022 | $35.3M | $34.9M | $18.0M | $8.3M | — | — |
| 2021 | $43.5M | $42.1M | $17.6M | $8.3M | — | View 990 |
| 2020 | $29.6M | $28.5M | $13.1M | $5.2M | — | View 990 |
| 2019 | $23.9M | $23.2M | $9.0M | $2.2M | — | View 990 |
| 2018 | $18.4M | $17.9M | $8.0M | $1.9M | — | View 990 |
| 2017 | $13.9M | $13.4M | $6.6M | $967K | — | View 990 |
| 2016 | $12.8M | $12.5M | $6.5M | $1.6M | — | View 990 |
| 2015 | $12.2M | $11.8M | $6.0M | $1.6M | — | View 990 |
| 2014 | $11.6M | $11.1M | $7.5M | $3.6M | — | View 990 |
| 2013 | $11.0M | $10.6M | $5.5M | $2.0M | — | View 990 |
| 2012 | $10.9M | $10.5M | $8.0M | $4.9M | — | View 990 |
| 2011 | $9.8M | $9.4M | $6.9M | $4.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $34.1M, expenses of $34.8M, and assets of $57.3M (revenue -3.3% year-over-year).
- 2022: Revenue of $35.3M, expenses of $34.9M, and assets of $18.0M (revenue -18.7% year-over-year).
- 2021: Revenue of $43.5M, expenses of $42.1M, and assets of $17.6M (revenue +46.9% year-over-year).
- 2020: Revenue of $29.6M, expenses of $28.5M, and assets of $13.1M (revenue +24.0% year-over-year).
- 2019: Revenue of $23.9M, expenses of $23.2M, and assets of $9.0M (revenue +29.7% year-over-year).
- 2018: Revenue of $18.4M, expenses of $17.9M, and assets of $8.0M (revenue +32.5% year-over-year).
- 2017: Revenue of $13.9M, expenses of $13.4M, and assets of $6.6M (revenue +8.8% year-over-year).
- 2016: Revenue of $12.8M, expenses of $12.5M, and assets of $6.5M (revenue +4.4% year-over-year).
- 2015: Revenue of $12.2M, expenses of $11.8M, and assets of $6.0M (revenue +5.6% year-over-year).
- 2014: Revenue of $11.6M, expenses of $11.1M, and assets of $7.5M (revenue +5.1% year-over-year).
- 2013: Revenue of $11.0M, expenses of $10.6M, and assets of $5.5M (revenue +0.7% year-over-year).
- 2012: Revenue of $10.9M, expenses of $10.5M, and assets of $8.0M (revenue +11.8% year-over-year).
- 2011: Revenue of $9.8M, expenses of $9.4M, and assets of $6.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Praxis Housing Initiatives Inc:
Data Sources and Methodology
This transparency report for Praxis Housing Initiatives 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.