Prospect Housing Properties Inc
Prospect Housing Properties Inc maintains low liabilities and no executive compensation amidst gradual asset decline.
EIN: 205869855 · Lebanon, TN · NTEE: P73 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $66K |
| Total Expenses | $83K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $770,112. |
| Net Assets | $755K |
| Transparency Score | 85/100 |
Is Prospect Housing Properties Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Prospect Housing Properties Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Prospect Housing Properties Inc
Prospect Housing Properties Inc (EIN: 205869855) is a nonprofit organization based in Lebanon, TN, classified under NTEE code P73. The organization reported total revenue of $66K and total assets of $753K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Prospect Housing Properties Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Prospect Housing Properties Inc is a micro nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 0.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $69K |
| Total Expenses | $83K |
| Surplus / Deficit | $-14,149 |
| Total Assets | $770K |
| Total Liabilities | $15K |
| Net Assets | $755K |
| Operating Margin | -20.5% |
| Debt-to-Asset Ratio | 2.0% |
| Months of Reserves | 111.3 months |
Financial Health Grade: B
In 2024, Prospect Housing Properties Inc reported a deficit of $14K with expenses exceeding revenue, holds 111.3 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Prospect Housing Properties Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +2.5% | +16.9% | -2.2% |
| 2023 | +10.3% | +11.8% | +0.8% |
| 2022 | +12.5% | -3.5% | -0.3% |
| 2021 | +8.5% | -7.8% | -1.5% |
| 2020 | +1.3% | -2.3% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
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 Prospect Housing Properties 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Prospect Housing Properties Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $14K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that no officers receive salaries from the organization, which is highly commendable for an organization of its size with assets of $770,112.
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 Prospect Housing Properties Inc's IRS 990 filings:
- Gradual decline in total assets over the past decade (from $935,679 in 2015 to $770,112 in 2024)
- Occasional periods of expenses exceeding revenue, indicating reliance on reserves (e.g., 2024 expenses $83,013 vs. revenue $68,864)
Strengths
The following positive indicators were identified for Prospect Housing Properties Inc:
- Consistent 0% officer compensation, indicating high efficiency and dedication to mission
- Low liabilities relative to assets ($15,105 liabilities vs. $770,112 assets in 2024)
- Consistent IRS 990 filing history over 14 periods, demonstrating transparency
- Revenue has shown an upward trend in recent years (from $32,763 in 2015 to $68,864 in 2024)
Frequently Asked Questions about Prospect Housing Properties Inc
Is Prospect Housing Properties Inc a legitimate charity?
Prospect Housing Properties Inc (EIN: 205869855) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $66K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Prospect Housing Properties Inc spend its money?
Prospect Housing Properties Inc directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Prospect Housing Properties Inc tax-deductible?
Prospect Housing Properties Inc is registered as a tax-exempt nonprofit (EIN: 205869855). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Prospect Housing Properties Inc CEO make?
Prospect Housing Properties Inc's highest-compensated officer earns $770,112. annually. The organization reported $66K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Prospect Housing Properties Inc's spending goes to programs?
Prospect Housing Properties Inc directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Prospect Housing Properties Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Prospect Housing Properties Inc is above average for NTEE category P73 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Prospect Housing Properties Inc located?
Prospect Housing Properties Inc is headquartered in Lebanon, Tennessee and files with the IRS under EIN 205869855. It is classified under NTEE code P73.
How many years of IRS 990 filings does Prospect Housing Properties Inc have?
Prospect Housing Properties 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 $66K in total revenue.
Is Prospect Housing Properties Inc financially stable?
Yes, the organization appears financially stable with low liabilities ($15,105 in 2024) and a history of covering expenses, despite some periods of deficit spending. Assets have declined over time but remain substantial at $770,112.
How does Prospect Housing Properties Inc manage executive compensation?
Prospect Housing Properties Inc reports 0% officer compensation in all available filings, meaning no salaries are paid to its executives, which is a strong indicator of efficient resource allocation.
What is the trend in the organization's assets?
The organization's assets have shown a gradual decline over the past decade, from $935,679 in 2015 to $770,112 in 2024, which should be monitored.
Does Prospect Housing Properties Inc consistently spend more than it earns?
While there are periods where expenses exceeded revenue (e.g., 2024: $83,013 expenses vs. $68,864 revenue), the organization generally manages its finances to cover operational costs, indicating a reliance on reserves during deficit periods.
Filing History
IRS 990 filing history for Prospect Housing Properties Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Prospect Housing Properties Inc's revenue has grown by 2.5%, moving from $67K to $69K. Total assets decreased by 23.4% over the same period, from $1.0M to $770K. Total functional expenses rose by 79.5%, from $46K to $83K. In its most recent filing year (2024), Prospect Housing Properties Inc reported a deficit of $14K, with expenses exceeding revenue. The organization holds $15K in liabilities against $770K in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $755K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $69K | $83K | $770K | $15K | — | — |
| 2023 | $67K | $71K | $787K | $18K | — | — |
| 2022 | $61K | $64K | $781K | $8K | — | View 990 |
| 2021 | $54K | $66K | $783K | $6K | — | — |
| 2020 | $50K | $71K | $796K | $7K | — | View 990 |
| 2019 | $49K | $73K | $819K | $8K | — | View 990 |
| 2018 | $47K | $77K | $840K | $5K | — | View 990 |
| 2017 | $40K | $16K | $867K | $2K | — | View 990 |
| 2016 | $39K | $91K | $914K | $72K | — | View 990 |
| 2015 | $33K | $59K | $936K | $42K | — | View 990 |
| 2014 | $39K | $64K | $957K | $37K | — | View 990 |
| 2013 | $40K | $74K | $967K | $22K | — | View 990 |
| 2012 | $37K | $59K | $995K | $16K | — | View 990 |
| 2011 | $67K | $46K | $1.0M | $942K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $69K, expenses of $83K, and assets of $770K (revenue +2.5% year-over-year).
- 2023: Revenue of $67K, expenses of $71K, and assets of $787K (revenue +10.3% year-over-year).
- 2022: Revenue of $61K, expenses of $64K, and assets of $781K (revenue +12.5% year-over-year).
- 2021: Revenue of $54K, expenses of $66K, and assets of $783K (revenue +8.5% year-over-year).
- 2020: Revenue of $50K, expenses of $71K, and assets of $796K (revenue +1.3% year-over-year).
- 2019: Revenue of $49K, expenses of $73K, and assets of $819K (revenue +5.8% year-over-year).
- 2018: Revenue of $47K, expenses of $77K, and assets of $840K (revenue +16.1% year-over-year).
- 2017: Revenue of $40K, expenses of $16K, and assets of $867K (revenue +3.4% year-over-year).
- 2016: Revenue of $39K, expenses of $91K, and assets of $914K (revenue +18.3% year-over-year).
- 2015: Revenue of $33K, expenses of $59K, and assets of $936K (revenue -16.1% year-over-year).
- 2014: Revenue of $39K, expenses of $64K, and assets of $957K (revenue -2.7% year-over-year).
- 2013: Revenue of $40K, expenses of $74K, and assets of $967K (revenue +8.3% year-over-year).
- 2012: Revenue of $37K, expenses of $59K, and assets of $995K (revenue -44.8% year-over-year).
- 2011: Revenue of $67K, expenses of $46K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Prospect Housing Properties Inc:
Data Sources and Methodology
This transparency report for Prospect Housing Properties 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.