Retiree Housing Of Worcester Inc
Retiree Housing Of Worcester Inc. maintains operational surplus but faces significant long-term liabilities.
EIN: 117239013 · Lyndhurst, OH · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $436K |
| Total Expenses | $492K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $500,000 |
| Net Assets | $-1,051,510 |
| Transparency Score | 70/100 |
Is Retiree Housing Of Worcester Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Retiree Housing Of Worcester Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Retiree Housing Of Worcester Inc
Retiree Housing Of Worcester Inc (EIN: 117239013) is a nonprofit organization based in Lyndhurst, OH. The organization reported total revenue of $436K and total assets of $730K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Retiree Housing Of Worcester Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Retiree Housing Of Worcester Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $589K |
| Total Expenses | $492K |
| Surplus / Deficit | +$97K |
| Total Assets | $822K |
| Total Liabilities | $1.9M |
| Net Assets | $-1,051,510 |
| Operating Margin | 16.5% |
| Debt-to-Asset Ratio | 227.9% |
| Months of Reserves | 20.0 months |
Financial Health Grade: A
In 2023, Retiree Housing Of Worcester Inc reported a surplus of $97K with revenue exceeding expenses, holds 20.0 months of operating reserves (strong position), has a debt-to-asset ratio of 227.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Retiree Housing Of Worcester Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.6% | -3.1% | +1.6% |
| 2022 | -4.7% | -5.2% | -4.0% |
| 2021 | +8.5% | -1.7% | -4.5% |
| 2020 | -1.4% | +6.8% | -6.9% |
| 2019 | +2.2% | -0.3% | -6.0% |
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 Retiree Housing Of Worcester Inc 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Retiree Housing Of Worcester Inc 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 $97K, with revenue exceeding expenses.
- Debt-to-asset ratio: 227.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is highly efficient for an organization of its size with revenues around $500,000 annually.
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 Retiree Housing Of Worcester Inc's IRS 990 filings:
- Significant and persistent negative net assets, with liabilities ($1,873,643 in 2023) far exceeding assets ($822,133).
- Declining asset base over the past decade, from $1,225,148 in 2014 to $822,133 in 2023.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering a full assessment of spending efficiency.
Strengths
The following positive indicators were identified for Retiree Housing Of Worcester Inc:
- Consistent operational surplus in recent years (e.g., $97,184 in 2023), indicating effective management of annual revenues and expenses.
- 0% officer compensation reported across all filings, suggesting highly efficient administrative overhead or volunteer leadership.
- Long history of IRS 990 filings (13 filings), indicating consistent compliance and transparency in reporting.
Frequently Asked Questions about Retiree Housing Of Worcester Inc
Is Retiree Housing Of Worcester Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Retiree Housing Of Worcester Inc (EIN: 117239013) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Retiree Housing Of Worcester Inc spend its money?
Retiree Housing Of Worcester Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Retiree Housing Of Worcester Inc tax-deductible?
Retiree Housing Of Worcester Inc is registered as a tax-exempt nonprofit (EIN: 117239013). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Retiree Housing Of Worcester Inc CEO make?
Retiree Housing Of Worcester Inc's highest-compensated officer earns $500,000 annually. The organization reported $436K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Retiree Housing Of Worcester Inc located?
Retiree Housing Of Worcester Inc is headquartered in Lyndhurst, Ohio and files with the IRS under EIN 117239013.
How many years of IRS 990 filings does Retiree Housing Of Worcester Inc have?
Retiree Housing Of Worcester 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 $436K in total revenue.
What is the nature of Retiree Housing Of Worcester Inc.'s substantial liabilities?
The IRS 990 data shows liabilities consistently exceeding assets, reaching $1,873,643 in 2023. Understanding if these are mortgage debts, program-related obligations, or other forms of debt is crucial for assessing long-term financial stability.
How does Retiree Housing Of Worcester Inc. manage to operate with such high liabilities relative to assets?
The organization consistently generates an operational surplus (e.g., $97,184 in 2023), which helps cover annual expenses. However, the long-term sustainability with a negative net asset position requires further investigation into its financial model and funding sources.
What are the specific program activities and their associated costs for Retiree Housing Of Worcester Inc.?
Without a detailed breakdown of expenses, it's difficult to ascertain the exact allocation of funds to program services versus administrative or fundraising costs. The NTEE code is unknown, further limiting insight into its specific mission activities.
Filing History
IRS 990 filing history for Retiree Housing Of Worcester Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Retiree Housing Of Worcester Inc's revenue has grown by 24.7%, moving from $473K to $589K. Total assets decreased by 46.8% over the same period, from $1.5M to $822K. Total functional expenses fell by 6.4%, from $526K to $492K. In its most recent filing year (2023), Retiree Housing Of Worcester Inc reported a surplus of $97K, with revenue exceeding expenses. The organization holds $1.9M in liabilities against $822K in assets (debt-to-asset ratio: 227.9%), resulting in net assets of $-1,051,510.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $589K | $492K | $822K | $1.9M | — | View 990 |
| 2022 | $528K | $508K | $809K | $2.0M | — | View 990 |
| 2021 | $555K | $536K | $843K | $2.0M | — | View 990 |
| 2020 | $511K | $545K | $882K | $2.1M | — | View 990 |
| 2019 | $518K | $510K | $948K | $2.1M | — | View 990 |
| 2018 | $507K | $511K | $1.0M | $2.2M | — | View 990 |
| 2017 | $505K | $566K | $1.1M | $2.2M | — | View 990 |
| 2016 | $512K | $477K | $1.1M | $2.2M | — | View 990 |
| 2015 | $494K | $507K | $1.1M | $2.3M | — | View 990 |
| 2014 | $487K | $591K | $1.2M | $2.3M | — | View 990 |
| 2013 | $480K | $580K | $1.3M | $2.4M | — | View 990 |
| 2012 | $515K | $521K | $1.5M | $2.4M | — | View 990 |
| 2011 | $473K | $526K | $1.5M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $589K, expenses of $492K, and assets of $822K (revenue +11.6% year-over-year).
- 2022: Revenue of $528K, expenses of $508K, and assets of $809K (revenue -4.7% year-over-year).
- 2021: Revenue of $555K, expenses of $536K, and assets of $843K (revenue +8.5% year-over-year).
- 2020: Revenue of $511K, expenses of $545K, and assets of $882K (revenue -1.4% year-over-year).
- 2019: Revenue of $518K, expenses of $510K, and assets of $948K (revenue +2.2% year-over-year).
- 2018: Revenue of $507K, expenses of $511K, and assets of $1.0M (revenue +0.4% year-over-year).
- 2017: Revenue of $505K, expenses of $566K, and assets of $1.1M (revenue -1.3% year-over-year).
- 2016: Revenue of $512K, expenses of $477K, and assets of $1.1M (revenue +3.6% year-over-year).
- 2015: Revenue of $494K, expenses of $507K, and assets of $1.1M (revenue +1.5% year-over-year).
- 2014: Revenue of $487K, expenses of $591K, and assets of $1.2M (revenue +1.3% year-over-year).
- 2013: Revenue of $480K, expenses of $580K, and assets of $1.3M (revenue -6.7% year-over-year).
- 2012: Revenue of $515K, expenses of $521K, and assets of $1.5M (revenue +9.0% year-over-year).
- 2011: Revenue of $473K, expenses of $526K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Retiree Housing Of Worcester Inc:
Data Sources and Methodology
This transparency report for Retiree Housing Of Worcester 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.