Seagirt Housing Development Fund Corp
Seagirt Housing Development Fund Corp maintains stable revenue but carries significant liabilities exceeding assets.
EIN: 133173810 · New York, NY · NTEE: L22Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.8M |
| Total Expenses | $2.9M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2.8 |
| Net Assets | $-3,452,229 |
| Transparency Score | 75/100 |
Is Seagirt Housing Development Fund Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Seagirt Housing Development Fund Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Seagirt Housing Development Fund Corp
Seagirt Housing Development Fund Corp (EIN: 133173810) is a nonprofit organization based in New York, NY, classified under NTEE code L22Z. The organization reported total revenue of $2.8M and total assets of $5.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Seagirt Housing Development Fund Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Seagirt Housing Development Fund Corp is a mid-size nonprofit that has been operating for 38 years, with 9 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.9M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$20K |
| Total Assets | $5.8M |
| Total Liabilities | $9.3M |
| Net Assets | $-3,452,229 |
| Operating Margin | 0.7% |
| Debt-to-Asset Ratio | 159.3% |
| Months of Reserves | 24.4 months |
Financial Health Grade: A
In 2019, Seagirt Housing Development Fund Corp reported a surplus of $20K with revenue exceeding expenses, holds 24.4 months of operating reserves (strong position), has a debt-to-asset ratio of 159.3% (high leverage).
Financial Trends
Over 9 years of filings (2011–2019), Seagirt Housing Development Fund Corp's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | +1.6% | -0.2% | -2.2% |
| 2018 | -7.1% | -22.5% | -2.0% |
| 2017 | +0.6% | +28.1% | -9.7% |
| 2016 | +1.7% | +4.1% | +3.2% |
| 2015 | +118.9% | +103.5% | +0.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Seagirt Housing Development Fund Corp 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Seagirt Housing Development Fund Corp allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $20K, with revenue exceeding expenses.
- Debt-to-asset ratio: 159.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is highly unusual for an organization with annual revenues around $2.8 million and suggests a volunteer-led or externally managed executive function.
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 Seagirt Housing Development Fund Corp's IRS 990 filings:
- Liabilities consistently exceed assets, indicating a potentially high-risk financial structure (e.g., 2019: Liabilities $9,277,003, Assets $5,824,774).
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes full spending efficiency assessment difficult.
- Gradual decline in assets from $6,731,842 in 2016 to $5,689,480 currently, while liabilities remain high.
Strengths
The following positive indicators were identified for Seagirt Housing Development Fund Corp:
- Consistent revenue generation, averaging approximately $2.8 million annually over the past five years.
- Reported 0% officer compensation across all filings, suggesting a highly lean or volunteer-driven executive structure.
- Stable financial operations with expenses generally in line with revenue, avoiding significant deficits in most years.
Frequently Asked Questions about Seagirt Housing Development Fund Corp
Is Seagirt Housing Development Fund Corp a legitimate charity?
Seagirt Housing Development Fund Corp (EIN: 133173810) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 9 years of IRS 990 filings on record. Total revenue: $2.8M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Seagirt Housing Development Fund Corp spend its money?
Seagirt Housing Development Fund Corp directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Seagirt Housing Development Fund Corp tax-deductible?
Seagirt Housing Development Fund Corp is registered as a tax-exempt nonprofit (EIN: 133173810). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Seagirt Housing Development Fund Corp CEO make?
Seagirt Housing Development Fund Corp's highest-compensated officer earns $2.8 annually. The organization reported $2.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Seagirt Housing Development Fund Corp's spending goes to programs?
Seagirt Housing Development Fund Corp directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Seagirt Housing Development Fund Corp compare to similar nonprofits?
With a transparency score of 75/100 (Good), Seagirt Housing Development Fund Corp is above average for NTEE category L22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Seagirt Housing Development Fund Corp located?
Seagirt Housing Development Fund Corp is headquartered in New York, New York and files with the IRS under EIN 133173810. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does Seagirt Housing Development Fund Corp have?
Seagirt Housing Development Fund Corp has 9 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 $2.8M in total revenue.
How does Seagirt Housing Development Fund Corp manage its significant liabilities?
The filings consistently show liabilities significantly exceeding assets (e.g., $9,277,003 in liabilities vs. $5,824,774 in assets in 2019). Understanding the nature of these liabilities (e.g., mortgages, program-related debt) is crucial for assessing financial risk.
What is the detailed breakdown of expenses beyond total expenses?
Without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's difficult to fully evaluate the organization's spending efficiency and how effectively funds are allocated to its mission.
Who manages the organization if no officers receive compensation?
The consistent reporting of 0% officer compensation across all filings raises questions about the leadership structure and how executive functions are performed and compensated, if at all, or if these services are provided pro bono or by an external entity.
Filing History
IRS 990 filing history for Seagirt Housing Development Fund Corp showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), Seagirt Housing Development Fund Corp's revenue has grown by 10.5%, moving from $2.6M to $2.9M. Total assets decreased by 9.9% over the same period, from $6.5M to $5.8M. Total functional expenses rose by 14.3%, from $2.5M to $2.9M. In its most recent filing year (2019), Seagirt Housing Development Fund Corp reported a surplus of $20K, with revenue exceeding expenses. The organization holds $9.3M in liabilities against $5.8M in assets (debt-to-asset ratio: 159.3%), resulting in net assets of $-3,452,229.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $2.9M | $2.9M | $5.8M | $9.3M | — | View 990 |
| 2018 | $2.8M | $2.9M | $6.0M | $9.4M | — | View 990 |
| 2017 | $3.1M | $3.7M | $6.1M | $9.5M | — | View 990 |
| 2016 | $3.0M | $2.9M | $6.7M | $9.5M | — | View 990 |
| 2015 | $3.0M | $2.8M | $6.5M | $9.5M | — | View 990 |
| 2014 | $1.4M | $1.4M | $6.5M | $9.6M | — | View 990 |
| 2013 | $2.8M | $2.6M | $6.5M | $9.6M | — | View 990 |
| 2012 | $2.6M | $2.6M | $6.5M | $9.8M | — | View 990 |
| 2011 | $2.6M | $2.5M | $6.5M | $9.8M | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $2.9M, expenses of $2.9M, and assets of $5.8M (revenue +1.6% year-over-year).
- 2018: Revenue of $2.8M, expenses of $2.9M, and assets of $6.0M (revenue -7.1% year-over-year).
- 2017: Revenue of $3.1M, expenses of $3.7M, and assets of $6.1M (revenue +0.6% year-over-year).
- 2016: Revenue of $3.0M, expenses of $2.9M, and assets of $6.7M (revenue +1.7% year-over-year).
- 2015: Revenue of $3.0M, expenses of $2.8M, and assets of $6.5M (revenue +118.9% year-over-year).
- 2014: Revenue of $1.4M, expenses of $1.4M, and assets of $6.5M (revenue -51.0% year-over-year).
- 2013: Revenue of $2.8M, expenses of $2.6M, and assets of $6.5M (revenue +5.6% year-over-year).
- 2012: Revenue of $2.6M, expenses of $2.6M, and assets of $6.5M (revenue +0.9% year-over-year).
- 2011: Revenue of $2.6M, expenses of $2.5M, and assets of $6.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Seagirt Housing Development Fund Corp:
Data Sources and Methodology
This transparency report for Seagirt Housing Development Fund Corp 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.