River Park Elderly Housing Inc River Park Elderly Housing Inc
River Park Elderly Housing Inc: Stable Operations, Declining Assets
EIN: 223018166 · Milford, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $815K |
| Total Expenses | $798K |
| Program Spending | 90% |
| Net Assets | $103K |
| Transparency Score | 75/100 |
Is River Park Elderly Housing Inc River Park Elderly Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
River Park Elderly Housing Inc River Park Elderly Housing Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About River Park Elderly Housing Inc River Park Elderly Housing Inc
River Park Elderly Housing Inc River Park Elderly Housing Inc (EIN: 223018166) is a nonprofit organization based in Milford, CT. The organization reported total revenue of $815K and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of River Park Elderly Housing Inc River Park Elderly Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
River Park Elderly Housing Inc River Park Elderly Housing Inc is a small nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $773K |
| Total Expenses | $798K |
| Surplus / Deficit | $-25,469 |
| Total Assets | $2.4M |
| Total Liabilities | $2.3M |
| Net Assets | $103K |
| Operating Margin | -3.3% |
| Debt-to-Asset Ratio | 95.7% |
| Months of Reserves | 36.0 months |
Financial Health Grade: C
In 2023, River Park Elderly Housing Inc River Park Elderly Housing Inc reported a deficit of $25K with expenses exceeding revenue, holds 36.0 months of operating reserves (strong position), has a debt-to-asset ratio of 95.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), River Park Elderly Housing Inc River Park Elderly Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.1% | +3.3% | -4.4% |
| 2022 | +4.8% | +5.9% | -1.9% |
| 2021 | +3.2% | -1.2% | -2.2% |
| 2020 | +0.7% | +1.8% | -3.3% |
| 2019 | +0.2% | -5.4% | -3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
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 River Park Elderly Housing Inc River Park Elderly Housing 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, River Park Elderly Housing Inc River Park Elderly Housing 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $25K, with expenses exceeding revenue.
- Debt-to-asset ratio: 95.7%.
Executive Compensation Analysis
Based on the provided data, the organization consistently reports 0% compensation, suggesting no direct executive compensation from the filings.
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 River Park Elderly Housing Inc River Park Elderly Housing Inc's IRS 990 filings:
- Consistent decline in total assets over the past 8 years, from $2,953,079 in 2016 to $2,392,268 in 2023, warrants further investigation into asset management and depreciation.
- Expenses have generally exceeded revenue in several years (e.g., 2023: revenue $772,920, expenses $798,389; 2022: revenue $764,593, expenses $772,954), indicating a reliance on existing assets or other funding sources to cover operational costs.
Strengths
The following positive indicators were identified for River Park Elderly Housing Inc River Park Elderly Housing Inc:
- The organization maintains a stable revenue stream, consistently around $700,000-$770,000 annually.
- The mission appears to be well-supported given the consistent operational activity over many years.
- Liabilities have remained relatively stable and are well-covered by assets.
Frequently Asked Questions about River Park Elderly Housing Inc River Park Elderly Housing Inc
Is River Park Elderly Housing Inc River Park Elderly Housing Inc a legitimate charity?
River Park Elderly Housing Inc River Park Elderly Housing Inc (EIN: 223018166) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $815K. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does River Park Elderly Housing Inc River Park Elderly Housing Inc spend its money?
River Park Elderly Housing Inc River Park Elderly Housing Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to River Park Elderly Housing Inc River Park Elderly Housing Inc tax-deductible?
River Park Elderly Housing Inc River Park Elderly Housing Inc is registered as a tax-exempt nonprofit (EIN: 223018166). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of River Park Elderly Housing Inc River Park Elderly Housing Inc's spending goes to programs?
River Park Elderly Housing Inc River Park Elderly Housing Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is River Park Elderly Housing Inc River Park Elderly Housing Inc located?
River Park Elderly Housing Inc River Park Elderly Housing Inc is headquartered in Milford, Connecticut and files with the IRS under EIN 223018166.
How many years of IRS 990 filings does River Park Elderly Housing Inc River Park Elderly Housing Inc have?
River Park Elderly Housing Inc River Park Elderly Housing 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 $815K in total revenue.
What does River Park Elderly Housing Inc River Park Elderly Housing Inc do?
River Park Elderly Housing Inc River Park Elderly Housing Inc is a nonprofit organization in the Unknown sector, located in Milford, Connecticut. It is classified under NTEE code Unknown.
How much revenue does River Park Elderly Housing Inc River Park Elderly Housing Inc have?
River Park Elderly Housing Inc River Park Elderly Housing Inc reported total revenue of $814,616. Based on 13 IRS 990 filings on record.
What are River Park Elderly Housing Inc River Park Elderly Housing Inc's total assets?
River Park Elderly Housing Inc River Park Elderly Housing Inc holds total assets of $2,328,647 as reported in IRS 990 filings.
Where is River Park Elderly Housing Inc River Park Elderly Housing Inc located?
River Park Elderly Housing Inc River Park Elderly Housing Inc is based in Milford, Connecticut.
What is River Park Elderly Housing Inc River Park Elderly Housing Inc's EIN?
River Park Elderly Housing Inc River Park Elderly Housing Inc's Employer Identification Number (EIN) is 223018166. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is River Park Elderly Housing Inc River Park Elderly Housing Inc?
River Park Elderly Housing Inc River Park Elderly Housing Inc is classified under NTEE code Unknown (Unknown).
Is River Park Elderly Housing Inc River Park Elderly Housing Inc a registered 501(c)(3)?
River Park Elderly Housing Inc River Park Elderly Housing Inc appears in IRS records (EIN: 223018166). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does River Park Elderly Housing Inc River Park Elderly Housing Inc file IRS Form 990?
Yes, River Park Elderly Housing Inc River Park Elderly Housing Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was River Park Elderly Housing Inc River Park Elderly Housing Inc's revenue in 2023?
In the 202312 filing period, River Park Elderly Housing Inc River Park Elderly Housing Inc reported total revenue of $772,920, total expenses of $798,389, and net assets of $2,392,268.
Is River Park Elderly Housing Inc River Park Elderly Housing Inc's revenue growing or declining?
River Park Elderly Housing Inc River Park Elderly Housing Inc's revenue is relatively stable. Revenue went from $764,593 (202212) to $772,920 (202312), a +1.1% change. Based on 13 filings on record.
What is River Park Elderly Housing Inc River Park Elderly Housing Inc's most recent 990 filing?
The most recent IRS Form 990 filing for River Park Elderly Housing Inc River Park Elderly Housing Inc covers tax period 202312. It shows revenue of $772,920, expenses of $798,389, total assets of $2,392,268, and liabilities of $2,288,899.
How much does River Park Elderly Housing Inc River Park Elderly Housing Inc spend on programs vs administration?
Based on IRS 990 analysis, River Park Elderly Housing Inc River Park Elderly Housing Inc allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is River Park Elderly Housing Inc River Park Elderly Housing Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, River Park Elderly Housing Inc River Park Elderly Housing Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for River Park Elderly Housing Inc River Park Elderly Housing Inc?
The following concerns were identified: Consistent decline in total assets over the past 8 years, from $2,953,079 in 2016 to $2,392,268 in 2023, warrants further investigation into asset management and depreciation.. Expenses have generally exceeded revenue in several years (e.g., 2023: revenue $772,920, expenses $798,389; 2022: revenue $764,593, expenses $772,954), indicating a reliance on existing assets or other funding sources to cover operational costs.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are River Park Elderly Housing Inc River Park Elderly Housing Inc's strengths?
Positive indicators for River Park Elderly Housing Inc River Park Elderly Housing Inc include: The organization maintains a stable revenue stream, consistently around $700,000-$770,000 annually.. The mission appears to be well-supported given the consistent operational activity over many years.. Liabilities have remained relatively stable and are well-covered by assets.. These findings are derived from AI analysis of the organization's financial filings.
How does River Park Elderly Housing Inc River Park Elderly Housing Inc compensate executives?
Based on the provided data, the organization consistently reports 0% compensation, suggesting no direct executive compensation from the filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is driving the consistent decline in total assets, and how does this impact the long-term sustainability of the housing services?
The data shows a steady decrease in total assets from $2,953,079 in 2016 to $2,392,268 in 2023. This trend could be due to depreciation of property, plant, and equipment, or a lack of significant capital investments. Understanding the specific causes is crucial for assessing the organization's ability to maintain and upgrade its facilities for elderly housing in the future.
Given that expenses frequently exceed revenue, how is the organization covering its operational deficits without reporting executive compensation?
In multiple years, such as 2023 ($798,389 expenses vs. $772,920 revenue) and 2022 ($772,954 expenses vs. $764,593 revenue), expenses surpassed revenue. With 0% compensation reported, the deficits are likely covered by drawing down existing assets or through non-operating income not detailed in the provided revenue figures, which could include grants, investment income, or prior year surpluses.
Filing History
IRS 990 filing history for River Park Elderly Housing Inc River Park Elderly Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), River Park Elderly Housing Inc River Park Elderly Housing Inc's revenue has grown by 16.5%, moving from $663K to $773K. Total assets decreased by 25.3% over the same period, from $3.2M to $2.4M. Total functional expenses rose by 26.4%, from $631K to $798K. In its most recent filing year (2023), River Park Elderly Housing Inc River Park Elderly Housing Inc reported a deficit of $25K, with expenses exceeding revenue. The organization holds $2.3M in liabilities against $2.4M in assets (debt-to-asset ratio: 95.7%), resulting in net assets of $103K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $773K | $798K | $2.4M | $2.3M | — | — |
| 2022 | $765K | $773K | $2.5M | $2.4M | — | View 990 |
| 2021 | $729K | $730K | $2.5M | $2.4M | — | View 990 |
| 2020 | $707K | $739K | $2.6M | $2.5M | — | — |
| 2019 | $702K | $726K | $2.7M | $2.5M | — | View 990 |
| 2018 | $701K | $768K | $2.8M | $2.6M | — | View 990 |
| 2017 | $694K | $709K | $2.9M | $2.6M | — | View 990 |
| 2016 | $678K | $684K | $3.0M | $2.7M | — | View 990 |
| 2015 | $669K | $683K | $3.0M | $2.7M | — | View 990 |
| 2014 | $671K | $685K | $3.1M | $2.8M | — | View 990 |
| 2013 | $661K | $654K | $3.1M | $2.8M | — | View 990 |
| 2012 | $645K | $644K | $3.2M | $2.9M | — | View 990 |
| 2011 | $663K | $631K | $3.2M | $2.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $773K, expenses of $798K, and assets of $2.4M (revenue +1.1% year-over-year).
- 2022: Revenue of $765K, expenses of $773K, and assets of $2.5M (revenue +4.8% year-over-year).
- 2021: Revenue of $729K, expenses of $730K, and assets of $2.5M (revenue +3.2% year-over-year).
- 2020: Revenue of $707K, expenses of $739K, and assets of $2.6M (revenue +0.7% year-over-year).
- 2019: Revenue of $702K, expenses of $726K, and assets of $2.7M (revenue +0.2% year-over-year).
- 2018: Revenue of $701K, expenses of $768K, and assets of $2.8M (revenue +0.9% year-over-year).
- 2017: Revenue of $694K, expenses of $709K, and assets of $2.9M (revenue +2.4% year-over-year).
- 2016: Revenue of $678K, expenses of $684K, and assets of $3.0M (revenue +1.4% year-over-year).
- 2015: Revenue of $669K, expenses of $683K, and assets of $3.0M (revenue -0.2% year-over-year).
- 2014: Revenue of $671K, expenses of $685K, and assets of $3.1M (revenue +1.4% year-over-year).
- 2013: Revenue of $661K, expenses of $654K, and assets of $3.1M (revenue +2.6% year-over-year).
- 2012: Revenue of $645K, expenses of $644K, and assets of $3.2M (revenue -2.8% year-over-year).
- 2011: Revenue of $663K, expenses of $631K, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for River Park Elderly Housing Inc River Park Elderly Housing Inc:
Data Sources and Methodology
This transparency report for River Park Elderly Housing Inc River Park Elderly Housing 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.