Selk Housing Development Fund Company Inc
Selk Housing Development Fund Company Inc. operates with consistent revenue but faces significant and growing negative net assets.
EIN: 133230516 · Queens Vlg, NY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.7M |
| Program Spending | 80% |
| Net Assets | $-4,217,621 |
| Transparency Score | 55/100 |
Is Selk Housing Development Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Selk Housing Development Fund Company Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Selk Housing Development Fund Company Inc
Selk Housing Development Fund Company Inc (EIN: 133230516) is a nonprofit organization based in Queens Vlg, NY, classified under NTEE code L20. The organization reported total revenue of $1.8M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Selk Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Selk Housing Development Fund Company Inc is a mid-size 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 1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.7M |
| Surplus / Deficit | +$8K |
| Total Assets | $2.7M |
| Total Liabilities | $6.9M |
| Net Assets | $-4,217,621 |
| Operating Margin | 0.5% |
| Debt-to-Asset Ratio | 255.1% |
| Months of Reserves | 19.3 months |
Financial Health Grade: A
In 2023, Selk Housing Development Fund Company Inc reported a surplus of $8K with revenue exceeding expenses, holds 19.3 months of operating reserves (strong position), has a debt-to-asset ratio of 255.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Selk Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.5% | -15.2% | -9.1% |
| 2022 | +4.6% | +16.2% | -15.7% |
| 2021 | -1.9% | +2.4% | -7.6% |
| 2020 | -1.8% | -3.2% | -5.3% |
| 2019 | +2.3% | +5.0% | -1.5% |
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 Selk Housing Development Fund Company Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Selk Housing Development Fund Company Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $8K, with revenue exceeding expenses.
- Debt-to-asset ratio: 255.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer executive leadership or that executive salaries are categorized under other expense lines, which could obscure a complete picture of leadership costs.
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 Selk Housing Development Fund Company Inc's IRS 990 filings:
- Significant and growing negative net assets (Liabilities consistently exceed Assets, e.g., $6,936,454 liabilities vs. $2,718,833 assets in 2023).
- Consistent decline in total assets over the past decade (from $5.1M in 2014 to $2.7M in 2023).
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency analysis.
- Unclear executive compensation reporting (0% officer compensation reported, but leadership costs must exist).
Strengths
The following positive indicators were identified for Selk Housing Development Fund Company Inc:
- Consistent revenue generation over the past decade, indicating stable funding streams.
- Expenses generally align with revenue, suggesting funds are being actively used for operations.
- Long filing history (13 filings) indicates consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Selk Housing Development Fund Company Inc
Is Selk Housing Development Fund Company Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Selk Housing Development Fund Company Inc (EIN: 133230516) some concerns. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.
How does Selk Housing Development Fund Company Inc spend its money?
Selk Housing Development Fund Company Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Selk Housing Development Fund Company Inc tax-deductible?
Selk Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133230516). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Selk Housing Development Fund Company Inc's spending goes to programs?
Selk Housing Development Fund Company Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Selk Housing Development Fund Company Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Selk Housing Development Fund Company Inc is near average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Selk Housing Development Fund Company Inc located?
Selk Housing Development Fund Company Inc is headquartered in Queens Vlg, New York and files with the IRS under EIN 133230516. It is classified under NTEE code L20.
How many years of IRS 990 filings does Selk Housing Development Fund Company Inc have?
Selk Housing Development Fund Company 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 $1.8M in total revenue.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a granular breakdown of expenses beyond total expenses. This information is crucial for a comprehensive assessment of spending efficiency.
Why do liabilities consistently exceed assets, and what is the plan to address this negative net asset position?
The organization has a persistent and growing negative net asset position, with liabilities significantly higher than assets (e.g., $6,936,454 liabilities vs. $2,718,833 assets in 2023). Understanding the nature of these liabilities and the strategy to improve net assets is critical.
Is executive compensation truly zero, or is it reported under other expense categories?
The 0% officer compensation reported across all filings raises questions about how leadership costs are managed and reported, impacting transparency.
What is the cause of the consistent decline in total assets over the past decade?
Total assets have decreased from $5,178,108 in 2014 to $2,718,833 in 2023. Understanding the reasons for this decline is important for assessing long-term financial health.
Filing History
IRS 990 filing history for Selk Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Selk Housing Development Fund Company Inc's revenue has grown by 15.5%, moving from $1.5M to $1.7M. Total assets decreased by 95.2% over the same period, from $56.2M to $2.7M. Total functional expenses rose by 5.8%, from $1.6M to $1.7M. In its most recent filing year (2023), Selk Housing Development Fund Company Inc reported a surplus of $8K, with revenue exceeding expenses. The organization holds $6.9M in liabilities against $2.7M in assets (debt-to-asset ratio: 255.1%), resulting in net assets of $-4,217,621.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.7M | $2.7M | $6.9M | — | View 990 |
| 2022 | $1.6M | $2.0M | $3.0M | $7.2M | — | View 990 |
| 2021 | $1.5M | $1.7M | $3.5M | $7.4M | — | View 990 |
| 2020 | $1.6M | $1.7M | $3.8M | $7.5M | — | View 990 |
| 2019 | $1.6M | $1.7M | $4.1M | $7.6M | — | View 990 |
| 2018 | $1.6M | $1.7M | $4.1M | $7.5M | — | View 990 |
| 2017 | $1.6M | $1.6M | $4.2M | $7.4M | — | View 990 |
| 2016 | $1.5M | $1.5M | $4.4M | $7.6M | — | — |
| 2015 | $1.5M | $1.7M | $4.9M | $8.1M | — | — |
| 2014 | $1.5M | $1.5M | $5.2M | $8.3M | — | View 990 |
| 2013 | $1.5M | $1.6M | $5.3M | $8.4M | — | View 990 |
| 2012 | $1.5M | $1.6M | $5.5M | $8.5M | — | View 990 |
| 2011 | $1.5M | $1.6M | $56.2M | $8.6M | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.7M, and assets of $2.7M (revenue +6.5% year-over-year).
- 2022: Revenue of $1.6M, expenses of $2.0M, and assets of $3.0M (revenue +4.6% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.7M, and assets of $3.5M (revenue -1.9% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.7M, and assets of $3.8M (revenue -1.8% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.7M, and assets of $4.1M (revenue +2.3% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.7M, and assets of $4.1M (revenue -3.7% year-over-year).
- 2017: Revenue of $1.6M, expenses of $1.6M, and assets of $4.2M (revenue +6.9% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.5M, and assets of $4.4M (revenue -2.3% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.7M, and assets of $4.9M (revenue +1.2% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.5M, and assets of $5.2M (revenue +1.0% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.6M, and assets of $5.3M (revenue +0.1% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.6M, and assets of $5.5M (revenue +2.2% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.6M, and assets of $56.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Selk Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Selk Housing Development Fund Company 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.