Shires Housing Inc
Shires Housing Inc: Strong Asset Growth, but Transparency Lacking on Program Spending
EIN: 222976053 · Bennington, VT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $3.2M |
| Total Expenses | $611K |
| Program Spending | 70% |
| Net Assets | $6.6M |
| Transparency Score | 75/100 |
Is Shires Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Shires Housing Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Shires Housing Inc
Shires Housing Inc (EIN: 222976053) is a nonprofit organization based in Bennington, VT. The organization reported total revenue of $3.2M and total assets of $18.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Shires Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Shires Housing Inc is a mid-size nonprofit that has been operating for 32 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $902K |
| Total Expenses | $611K |
| Surplus / Deficit | +$291K |
| Total Assets | $14.8M |
| Total Liabilities | $8.1M |
| Net Assets | $6.6M |
| Operating Margin | 32.3% |
| Debt-to-Asset Ratio | 55.0% |
| Months of Reserves | 289.9 months |
Financial Health Grade: A
In 2023, Shires Housing Inc reported a surplus of $291K with revenue exceeding expenses, holds 289.9 months of operating reserves (strong position), has a debt-to-asset ratio of 55.0% (high leverage).
Financial Trends
Over 14 years of filings (2011–2023), Shires Housing Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -74.5% | -77.5% | +28.3% |
| 2023 | +79.1% | +14.0% | +23.4% |
| 2022 | -44.7% | +3.4% | +3.4% |
| 2021 | +20.3% | +14.2% | +7.6% |
| 2020 | +42.5% | -4.5% | +18.6% |
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 Shires 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: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Shires Housing Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $291K, with revenue exceeding expenses.
- Debt-to-asset ratio: 55.0%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided financial data, preventing a specific assessment of its proportion relative to total expenses or revenue.
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 Shires Housing Inc's IRS 990 filings:
- Lack of detailed breakdown for program expenses in available filings.
- Absence of readily accessible financial reports on their website.
Strengths
The following positive indicators were identified for Shires Housing Inc:
- Consistent asset growth from $4.6M in 2017 to $18.8M in 2023, indicating strong financial health and expansion.
- Positive net assets across all reported years, demonstrating financial stability.
- Significant revenue increase from $2.2M in 2017 to $3.1M in 2023 (with a peak of $3.5M in 2021), supporting operational capacity.
Frequently Asked Questions about Shires Housing Inc
Is Shires Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Shires Housing Inc (EIN: 222976053) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Shires Housing Inc spend its money?
Shires Housing Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Shires Housing Inc tax-deductible?
Shires Housing Inc is registered as a tax-exempt nonprofit (EIN: 222976053). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Shires Housing Inc's spending goes to programs?
Shires Housing Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Shires Housing Inc located?
Shires Housing Inc is headquartered in Bennington, Vermont and files with the IRS under EIN 222976053.
How many years of IRS 990 filings does Shires Housing Inc have?
Shires Housing Inc has 14 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 $3.2M in total revenue.
What does Shires Housing Inc do?
Shires Housing Inc is a nonprofit organization in the Unknown sector, located in Bennington, Vermont. It is classified under NTEE code Unknown.
How much revenue does Shires Housing Inc have?
Shires Housing Inc reported total revenue of $3,173,424. Based on 14 IRS 990 filings on record.
What are Shires Housing Inc's total assets?
Shires Housing Inc holds total assets of $18,846,974 as reported in IRS 990 filings.
Where is Shires Housing Inc located?
Shires Housing Inc is based in Bennington, Vermont.
What is Shires Housing Inc's EIN?
Shires Housing Inc's Employer Identification Number (EIN) is 222976053. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Shires Housing Inc?
Shires Housing Inc is classified under NTEE code Unknown (Unknown).
Is Shires Housing Inc a registered 501(c)(3)?
Shires Housing Inc appears in IRS records (EIN: 222976053). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Shires Housing Inc file IRS Form 990?
Yes, Shires Housing Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Shires Housing Inc's revenue in 2023?
In the 202312 filing period, Shires Housing Inc reported total revenue of $901,755, total expenses of $610,620, and net assets of $14,752,484.
Is Shires Housing Inc's revenue growing or declining?
Shires Housing Inc's revenue is declining. Revenue went from $3,531,573 (202309) to $901,755 (202312), a -74.5% change. Based on 14 filings on record.
What is Shires Housing Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Shires Housing Inc covers tax period 202312. It shows revenue of $901,755, expenses of $610,620, total assets of $14,752,484, and liabilities of $8,116,359.
How much does Shires Housing Inc spend on programs vs administration?
Based on IRS 990 analysis, Shires Housing Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Shires Housing Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Shires Housing Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Shires Housing Inc?
The following concerns were identified: Lack of detailed breakdown for program expenses in available filings.. Absence of readily accessible financial reports on their website.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Shires Housing Inc's strengths?
Positive indicators for Shires Housing Inc include: Consistent asset growth from $4.6M in 2017 to $18.8M in 2023, indicating strong financial health and expansion.. Positive net assets across all reported years, demonstrating financial stability.. Significant revenue increase from $2.2M in 2017 to $3.1M in 2023 (with a peak of $3.5M in 2021), supporting operational capacity.. These findings are derived from AI analysis of the organization's financial filings.
How does Shires Housing Inc compensate executives?
Executive compensation is not explicitly detailed in the provided financial data, preventing a specific assessment of its proportion relative to total expenses or revenue. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial asset growth, what specific strategies has Shires Housing Inc employed to expand its housing portfolio and services?
The provided data indicates significant asset growth, suggesting successful acquisition or development of housing units. However, the filings do not detail the specific strategies (e.g., new construction, property acquisition, partnerships) driving this expansion, which would be crucial for understanding their operational model.
How does Shires Housing Inc ensure that its administrative and fundraising costs remain efficient while scaling its operations and asset base?
While the overall expenses have increased with revenue and assets, the specific breakdown of administrative and fundraising costs is not granular enough to assess efficiency trends. A more detailed expense report would be needed to determine if these costs are growing proportionally or disproportionately to program delivery.
Filing History
IRS 990 filing history for Shires Housing Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Shires Housing Inc's revenue has declined by 1%, moving from $911K to $902K. Total assets increased by 362.5% over the same period, from $3.2M to $14.8M. Total functional expenses fell by 34.1%, from $926K to $611K. In its most recent filing year (2023), Shires Housing Inc reported a surplus of $291K, with revenue exceeding expenses. The organization holds $8.1M in liabilities against $14.8M in assets (debt-to-asset ratio: 55.0%), resulting in net assets of $6.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $902K | $611K | $14.8M | $8.1M | — | — |
| 2023 | $3.5M | $2.7M | $11.5M | $5.2M | — | — |
| 2022 | $2.0M | $2.4M | $9.3M | $3.8M | — | View 990 |
| 2021 | $3.6M | $2.3M | $9.0M | $2.9M | — | View 990 |
| 2020 | $3.0M | $2.0M | $8.4M | $3.6M | — | — |
| 2019 | $2.1M | $2.1M | $7.1M | $3.2M | — | View 990 |
| 2018 | $2.0M | $1.5M | $6.3M | $2.4M | — | View 990 |
| 2017 | $2.2M | $1.5M | $4.6M | $1.7M | — | View 990 |
| 2016 | $1.6M | $1.4M | $3.9M | $1.8M | — | View 990 |
| 2015 | $1.2M | $1.3M | $4.0M | $2.1M | — | View 990 |
| 2014 | $988K | $1.0M | $2.6M | $647K | — | View 990 |
| 2013 | $878K | $872K | $2.7M | $671K | — | View 990 |
| 2012 | $468K | $808K | $2.7M | $679K | — | View 990 |
| 2011 | $911K | $926K | $3.2M | $848K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $902K, expenses of $611K, and assets of $14.8M (revenue -74.5% year-over-year).
- 2023: Revenue of $3.5M, expenses of $2.7M, and assets of $11.5M (revenue +79.1% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.4M, and assets of $9.3M (revenue -44.7% year-over-year).
- 2021: Revenue of $3.6M, expenses of $2.3M, and assets of $9.0M (revenue +20.3% year-over-year).
- 2020: Revenue of $3.0M, expenses of $2.0M, and assets of $8.4M (revenue +42.5% year-over-year).
- 2019: Revenue of $2.1M, expenses of $2.1M, and assets of $7.1M (revenue +1.9% year-over-year).
- 2018: Revenue of $2.0M, expenses of $1.5M, and assets of $6.3M (revenue -7.8% year-over-year).
- 2017: Revenue of $2.2M, expenses of $1.5M, and assets of $4.6M (revenue +38.5% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.4M, and assets of $3.9M (revenue +28.6% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.3M, and assets of $4.0M (revenue +25.8% year-over-year).
- 2014: Revenue of $988K, expenses of $1.0M, and assets of $2.6M (revenue +12.4% year-over-year).
- 2013: Revenue of $878K, expenses of $872K, and assets of $2.7M (revenue +87.7% year-over-year).
- 2012: Revenue of $468K, expenses of $808K, and assets of $2.7M (revenue -48.6% year-over-year).
- 2011: Revenue of $911K, expenses of $926K, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Shires Housing Inc:
Data Sources and Methodology
This transparency report for Shires 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.