Ridgewood Senior Citizens Housing Corporation Inc

About Ridgewood Senior Citizens Housing Corporation Inc

Ridgewood Senior Citizens Housing Corporation Inc (EIN: 222295826) is a nonprofit organization based in Ridgewood, NJ. The organization reported total revenue of $3.6M and total assets of $13.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ridgewood Senior Citizens Housing Corporation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Ridgewood Senior Citizens Housing Corporation Inc with a Mission Score of 75 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: 5%
• programs: 90%
• fundraising: 5%

According to IRS 990 filings, Ridgewood Senior Citizens Housing Corporation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as $0 across all available filings, indicating either a volunteer-led organization or compensation is not reported in this section.

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 Ridgewood Senior Citizens Housing Corporation Inc's IRS 990 filings:

• Significant revenue fluctuations observed, from $13,378,019 in 2021 to $78,051 in 2022 and $3,599,177 in 2023, warrant further investigation into funding sources.
• The nature of 'net assets' (a: $13,262,826 in 2023) and 'liabilities' (l: $4,370 in 2023) suggests a strong asset base but the source of these assets and the low liabilities should be understood.

Strengths

The following positive indicators were identified for Ridgewood Senior Citizens Housing Corporation Inc:

• Consistently strong asset base, with total assets at $13,262,826 in 2023, indicating financial stability.
• Very low reported liabilities ($4,370 in 2023), suggesting minimal debt burden.
• Consistent reporting of $0 executive compensation, which can be a positive indicator for donor confidence if the organization is effectively managed by volunteers or through other means.

Frequently Asked Questions about Ridgewood Senior Citizens Housing Corporation Inc

Filing History

IRS 990 filing history for Ridgewood Senior Citizens Housing Corporation Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Ridgewood Senior Citizens Housing Corporation Inc's revenue has declined by 82.4%, moving from $1.6M to $281K. Total assets increased by 157.8% over the same period, from $4.8M to $12.4M. Total functional expenses fell by 90.3%, from $1.2M to $118K. In its most recent filing year (2023), Ridgewood Senior Citizens Housing Corporation Inc reported a surplus of $163K, with revenue exceeding expenses. The organization holds $4K in liabilities against $12.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $12.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $281K, expenses of $118K, and assets of $12.4M (revenue +260.1% year-over-year).
• 2022: Revenue of $78K, expenses of $101K, and assets of $11.7M (revenue -99.4% year-over-year).
• 2021: Revenue of $13.4M, expenses of $1.2M, and assets of $14.3M (revenue +612.0% year-over-year).
• 2020: Revenue of $1.9M, expenses of $1.3M, and assets of $4.9M (revenue +3.9% year-over-year).
• 2019: Revenue of $1.8M, expenses of $1.3M, and assets of $5.0M (revenue +3.9% year-over-year).
• 2018: Revenue of $1.7M, expenses of $1.3M, and assets of $4.9M (revenue -0.1% year-over-year).
• 2017: Revenue of $1.7M, expenses of $1.2M, and assets of $4.7M (revenue +3.1% year-over-year).
• 2016: Revenue of $1.7M, expenses of $1.2M, and assets of $4.6M (revenue +1.6% year-over-year).
• 2015: Revenue of $1.7M, expenses of $1.2M, and assets of $4.5M (revenue +0.2% year-over-year).
• 2014: Revenue of $1.7M, expenses of $1.3M, and assets of $4.5M (revenue +27.0% year-over-year).
• 2013: Revenue of $1.3M, expenses of $1.2M, and assets of $4.6M (revenue -20.1% year-over-year).
• 2012: Revenue of $1.6M, expenses of $1.2M, and assets of $4.9M (revenue +2.7% year-over-year).
• 2011: Revenue of $1.6M, expenses of $1.2M, and assets of $4.8M.

Data Sources and Methodology

This transparency report for Ridgewood Senior Citizens Housing Corporation 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.