Putnam County Housing Corporation
Putnam County Housing Corporation shows strong revenue growth and no reported officer compensation, maintaining a healthy asset base.
EIN: 141645491 · Carmel, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $3.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $1.9M |
| Transparency Score | 85/100 |
Is Putnam County Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Putnam County Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Putnam County Housing Corporation
Putnam County Housing Corporation (EIN: 141645491) is a nonprofit organization based in Carmel, NY. The organization reported total revenue of $2.0M and total assets of $2.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Putnam County Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Putnam County Housing Corporation is a mid-size nonprofit that has been operating for 39 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 6.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.7M |
| Total Expenses | $3.1M |
| Surplus / Deficit | +$554K |
| Total Assets | $2.1M |
| Total Liabilities | $231K |
| Net Assets | $1.9M |
| Operating Margin | 15.1% |
| Debt-to-Asset Ratio | 11.1% |
| Months of Reserves | 8.0 months |
Financial Health Grade: A
In 2023, Putnam County Housing Corporation reported a surplus of $554K with revenue exceeding expenses, holds 8.0 months of operating reserves (strong position), has a debt-to-asset ratio of 11.1% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Putnam County Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 6.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +98.3% | +87.4% | +42.6% |
| 2022 | +19.4% | +16.2% | +14.7% |
| 2021 | -0.1% | +7.9% | +8.0% |
| 2020 | -1.1% | -12.3% | +20.0% |
| 2019 | +1.6% | +7.6% | -2.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Putnam County Housing Corporation 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: 90%
- fundraising: 0%
According to IRS 990 filings, Putnam County Housing Corporation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $554K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership may be entirely volunteer-based or compensated through other means not classified as officer compensation, which is highly unusual for an organization with revenues 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 Putnam County Housing Corporation's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data
- Unusually consistent 0% officer compensation for an organization of this size, which might warrant further investigation into how leadership is supported or compensated.
Strengths
The following positive indicators were identified for Putnam County Housing Corporation:
- Consistent revenue growth, particularly a significant increase in 2023 to $3,674,119.
- Healthy and growing asset base, reaching $2,081,528 in 2023, indicating strong financial stability.
- No reported officer compensation, suggesting a highly efficient or volunteer-driven leadership model.
- Maintains a positive net asset position, with assets consistently exceeding liabilities.
Frequently Asked Questions about Putnam County Housing Corporation
Is Putnam County Housing Corporation a legitimate charity?
Putnam County Housing Corporation (EIN: 141645491) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $2.0M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Putnam County Housing Corporation spend its money?
Putnam County Housing Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Putnam County Housing Corporation tax-deductible?
Putnam County Housing Corporation is registered as a tax-exempt nonprofit (EIN: 141645491). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Putnam County Housing Corporation CEO make?
Putnam County Housing Corporation's highest-compensated officer earns $3 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Putnam County Housing Corporation located?
Putnam County Housing Corporation is headquartered in Carmel, New York and files with the IRS under EIN 141645491.
How many years of IRS 990 filings does Putnam County Housing Corporation have?
Putnam County Housing Corporation 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 $2.0M in total revenue.
How does Putnam County Housing Corporation manage to operate with 0% officer compensation given its revenue size?
The consistent reporting of 0% officer compensation across all filings, even with revenues reaching $3,674,119 in 2023, suggests a unique operational model, potentially relying heavily on volunteer leadership or staff compensation being categorized differently than 'officer compensation' on the 990.
What is the primary source of the significant revenue increase in 2023?
The provided data does not specify the source of the revenue increase from $1,852,674 in 2022 to $3,674,119 in 2023. This could be due to increased grants, program service fees, or other contributions.
What percentage of total expenses are allocated to program services?
While the data indicates total expenses, a specific breakdown of program service expenses versus administrative and fundraising costs is not provided, making it difficult to precisely determine the program spending ratio. However, given the 0% officer compensation, it's likely a high percentage.
Filing History
IRS 990 filing history for Putnam County Housing Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Putnam County Housing Corporation's revenue has grown by 136.1%, moving from $1.6M to $3.7M. Total assets increased by 216.6% over the same period, from $657K to $2.1M. Total functional expenses rose by 107.2%, from $1.5M to $3.1M. In its most recent filing year (2023), Putnam County Housing Corporation reported a surplus of $554K, with revenue exceeding expenses. The organization holds $231K in liabilities against $2.1M in assets (debt-to-asset ratio: 11.1%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.7M | $3.1M | $2.1M | $231K | — | View 990 |
| 2022 | $1.9M | $1.7M | $1.5M | $164K | — | View 990 |
| 2021 | $1.6M | $1.4M | $1.3M | $53K | — | View 990 |
| 2020 | $1.6M | $1.3M | $1.2M | $61K | — | — |
| 2019 | $1.6M | $1.5M | $982K | $63K | — | View 990 |
| 2018 | $1.5M | $1.4M | $1.0M | $90K | — | View 990 |
| 2017 | $1.5M | $1.4M | $962K | $129K | — | View 990 |
| 2016 | $1.5M | $1.6M | $946K | $157K | — | View 990 |
| 2015 | $1.6M | $1.4M | $1.2M | $180K | — | View 990 |
| 2014 | $1.3M | $1.3M | $1.1M | $209K | — | View 990 |
| 2013 | $1.4M | $1.3M | $1.2M | $258K | — | View 990 |
| 2012 | $1.2M | $1.2M | $1.3M | $261K | — | View 990 |
| 2011 | $1.3M | $1.4M | $569K | $330K | — | View 990 |
| 2010 | $1.6M | $1.5M | $657K | $349K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.7M, expenses of $3.1M, and assets of $2.1M (revenue +98.3% year-over-year).
- 2022: Revenue of $1.9M, expenses of $1.7M, and assets of $1.5M (revenue +19.4% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.4M, and assets of $1.3M (revenue -0.1% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.3M, and assets of $1.2M (revenue -1.1% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.5M, and assets of $982K (revenue +1.6% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.4M, and assets of $1.0M (revenue +3.5% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.4M, and assets of $962K (revenue -2.2% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.6M, and assets of $946K (revenue -4.3% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.4M, and assets of $1.2M (revenue +21.8% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.3M, and assets of $1.1M (revenue -5.0% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.3M, and assets of $1.2M (revenue +15.0% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.2M, and assets of $1.3M (revenue -7.8% year-over-year).
- 2011: Revenue of $1.3M, expenses of $1.4M, and assets of $569K (revenue -16.5% year-over-year).
- 2010: Revenue of $1.6M, expenses of $1.5M, and assets of $657K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Putnam County Housing Corporation:
Data Sources and Methodology
This transparency report for Putnam County Housing Corporation 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.