Rochester Housing Development Fund Corporation
Rochester Housing Development Fund Corporation consistently operates with revenues closely matching expenses and reports no officer compensation.
EIN: 161607165 · Rochester, NY · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.2M |
| Total Expenses | $2.5M |
| Program Spending | 90% |
| Net Assets | $98K |
| Transparency Score | 95/100 |
Is Rochester Housing Development Fund Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rochester Housing Development Fund Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rochester Housing Development Fund Corporation
Rochester Housing Development Fund Corporation (EIN: 161607165) is a nonprofit organization based in Rochester, NY, classified under NTEE code L21. The organization reported total revenue of $5.2M and total assets of $5.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rochester Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rochester Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -4.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.5M |
| Total Expenses | $2.5M |
| Surplus / Deficit | $-11,928 |
| Total Assets | $6.7M |
| Total Liabilities | $6.6M |
| Net Assets | $98K |
| Operating Margin | -0.5% |
| Debt-to-Asset Ratio | 98.5% |
| Months of Reserves | 31.8 months |
Financial Health Grade: C
In 2024, Rochester Housing Development Fund Corporation reported a deficit of $12K with expenses exceeding revenue, holds 31.8 months of operating reserves (strong position), has a debt-to-asset ratio of 98.5% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), Rochester Housing Development Fund Corporation's revenue has declined at a compound annual growth rate (CAGR) of -4.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +4.1% | +3.5% | +33.5% |
| 2023 | -8.7% | -7.1% | -3.4% |
| 2022 | +3.1% | +2.8% | +0.7% |
| 2021 | -11.3% | -11.8% | +12.5% |
| 2020 | -25.7% | -25.5% | -13.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Rochester Housing Development Fund Corporation with a Mission Score of 95 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, Rochester Housing Development Fund 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $12K, with expenses exceeding revenue.
- Debt-to-asset ratio: 98.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is highly unusual for an organization with revenues consistently in the millions and suggests a strong commitment to directing all funds towards its mission.
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.
Strengths
The following positive indicators were identified for Rochester Housing Development Fund Corporation:
- Consistent 0% officer compensation across all filings, indicating strong financial stewardship.
- Revenues consistently match expenses, suggesting efficient operations and direct application of funds to mission.
- Long and consistent filing history (13 filings), demonstrating sustained operations and transparency.
- Stable asset base, indicating capacity to undertake housing development projects.
Frequently Asked Questions about Rochester Housing Development Fund Corporation
Is Rochester Housing Development Fund Corporation a legitimate charity?
Rochester Housing Development Fund Corporation (EIN: 161607165) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 95/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.2M. No red flags identified. 4 strengths noted. Financial health grade: C.
How does Rochester Housing Development Fund Corporation spend its money?
Rochester Housing Development Fund Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Rochester Housing Development Fund Corporation tax-deductible?
Rochester Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 161607165). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Rochester Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Rochester Housing Development Fund Corporation is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rochester Housing Development Fund Corporation located?
Rochester Housing Development Fund Corporation is headquartered in Rochester, New York and files with the IRS under EIN 161607165. It is classified under NTEE code L21.
How many years of IRS 990 filings does Rochester Housing Development Fund Corporation have?
Rochester Housing Development Fund Corporation 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 $5.2M in total revenue.
Is Rochester Housing Development Fund Corporation a good charity?
Based on the provided data, the organization appears to be a very good charity. It consistently operates with revenues closely matching expenses, indicating efficient use of funds, and reports 0% officer compensation, which is a strong positive indicator of financial stewardship and dedication to its mission.
How does Rochester Housing Development Fund Corporation manage its finances given 0% officer compensation?
The consistent 0% officer compensation suggests that leadership may be volunteer-based, compensated through other entities, or that the organization's operational model minimizes direct salary expenses for its officers, allowing more funds to be allocated to programs. This is a highly transparent and efficient approach.
What is the trend in Rochester Housing Development Fund Corporation's assets and liabilities?
The organization's assets and liabilities have generally moved in tandem, with liabilities consistently close to assets. For example, in 202403, assets were $6,673,945 and liabilities were $6,575,815. This pattern is common for housing development funds that often carry significant debt related to their projects, indicating active project management rather than accumulating large unrestricted reserves.
Filing History
IRS 990 filing history for Rochester Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Rochester Housing Development Fund Corporation's revenue has declined by 44.7%, moving from $4.5M to $2.5M. Total assets decreased by 3.1% over the same period, from $6.9M to $6.7M. Total functional expenses fell by 44.2%, from $4.5M to $2.5M. In its most recent filing year (2024), Rochester Housing Development Fund Corporation reported a deficit of $12K, with expenses exceeding revenue. The organization holds $6.6M in liabilities against $6.7M in assets (debt-to-asset ratio: 98.5%), resulting in net assets of $98K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $2.5M | $2.5M | $6.7M | $6.6M | — | View 990 |
| 2023 | $2.4M | $2.4M | $5.0M | $4.9M | — | — |
| 2022 | $2.6M | $2.6M | $5.2M | $5.0M | — | View 990 |
| 2021 | $2.6M | $2.5M | $5.1M | $5.0M | — | — |
| 2020 | $2.9M | $2.9M | $4.6M | $4.5M | — | View 990 |
| 2019 | $3.9M | $3.9M | $5.3M | $5.2M | — | View 990 |
| 2018 | $2.8M | $2.9M | $6.0M | $5.9M | — | View 990 |
| 2017 | $4.6M | $4.6M | $5.1M | $5.0M | — | View 990 |
| 2016 | $4.4M | $4.4M | $7.8M | $7.6M | — | View 990 |
| 2015 | $3.4M | $3.4M | $8.0M | $7.9M | — | View 990 |
| 2014 | $3.7M | $3.7M | $6.7M | $6.6M | — | View 990 |
| 2013 | $4.8M | $4.8M | $6.1M | $6.0M | — | View 990 |
| 2012 | $4.5M | $4.5M | $6.9M | $6.8M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.5M, expenses of $2.5M, and assets of $6.7M (revenue +4.1% year-over-year).
- 2023: Revenue of $2.4M, expenses of $2.4M, and assets of $5.0M (revenue -8.7% year-over-year).
- 2022: Revenue of $2.6M, expenses of $2.6M, and assets of $5.2M (revenue +3.1% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.5M, and assets of $5.1M (revenue -11.3% year-over-year).
- 2020: Revenue of $2.9M, expenses of $2.9M, and assets of $4.6M (revenue -25.7% year-over-year).
- 2019: Revenue of $3.9M, expenses of $3.9M, and assets of $5.3M (revenue +38.3% year-over-year).
- 2018: Revenue of $2.8M, expenses of $2.9M, and assets of $6.0M (revenue -39.1% year-over-year).
- 2017: Revenue of $4.6M, expenses of $4.6M, and assets of $5.1M (revenue +4.2% year-over-year).
- 2016: Revenue of $4.4M, expenses of $4.4M, and assets of $7.8M (revenue +28.9% year-over-year).
- 2015: Revenue of $3.4M, expenses of $3.4M, and assets of $8.0M (revenue -6.7% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.7M, and assets of $6.7M (revenue -24.1% year-over-year).
- 2013: Revenue of $4.8M, expenses of $4.8M, and assets of $6.1M (revenue +7.0% year-over-year).
- 2012: Revenue of $4.5M, expenses of $4.5M, and assets of $6.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rochester Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Rochester Housing Development Fund 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.