South Bronx Housing Development Fund Co Inc
South Bronx Housing Development Fund Co Inc consistently reports minimal expenses while accumulating substantial assets.
EIN: 133540214 · Garden City, NY · NTEE: L21 · Updated: 2026-03-28
Is South Bronx Housing Development Fund Co Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
South Bronx Housing Development Fund Co Inc directs 50% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About South Bronx Housing Development Fund Co Inc
South Bronx Housing Development Fund Co Inc (EIN: 133540214) is a nonprofit organization based in Garden City, NY, classified under NTEE code L21. The organization reported total revenue of $1.9M and total assets of $23.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of South Bronx Housing Development Fund Co Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates South Bronx Housing Development Fund Co Inc with a Mission Score of 65 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: 40%
- programs: 50%
- fundraising: 10%
According to IRS 990 filings, South Bronx Housing Development Fund Co Inc allocates its expenses as follows: admin: 40%, programs: 50%, fundraising: 10%. Approximately 50% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting a volunteer-led executive team or an alternative compensation structure not disclosed in this section of the 990, which is unusual for an organization with over $1.4 million in annual 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 South Bronx Housing Development Fund Co Inc's IRS 990 filings:
- Extremely low reported expenses relative to revenue, raising questions about operational activities.
- Consistent 0% officer compensation for an organization with over $1 million in annual revenue, which may indicate undisclosed compensation or a unique operational structure.
- Lack of detailed expense breakdown makes it difficult to assess program efficiency and actual spending on mission-related activities.
Strengths
The following positive indicators were identified for South Bronx Housing Development Fund Co Inc:
- Strong and consistent asset growth, from $10 million in 2014 to over $21 million in 2023, indicating financial stability.
- Consistent revenue generation, averaging over $1 million annually in recent years.
- Low liabilities relative to assets in most years, suggesting a healthy balance sheet.
Frequently Asked Questions about South Bronx Housing Development Fund Co Inc
Is South Bronx Housing Development Fund Co Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, South Bronx Housing Development Fund Co Inc (EIN: 133540214) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does South Bronx Housing Development Fund Co Inc spend its money?
South Bronx Housing Development Fund Co Inc directs 50% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to South Bronx Housing Development Fund Co Inc tax-deductible?
South Bronx Housing Development Fund Co Inc is registered as a tax-exempt nonprofit (EIN: 133540214). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is South Bronx Housing Development Fund Co Inc a good charity?
The organization's financial health is strong in terms of asset growth and revenue, but the extremely low reported expenses and 0% officer compensation raise questions about its operational model and direct programmatic spending. Without more detailed expense breakdowns, it's difficult to fully assess its effectiveness as a charity.
How does the organization utilize its substantial assets?
With assets growing from $10 million in 2014 to over $21 million in 2023, the organization appears to be accumulating significant real estate or investment holdings, consistent with its NTEE code for housing development. However, the direct impact of these assets on its stated mission through programmatic spending is not clear from the provided expense data.
Why are the reported expenses so low compared to revenue?
The reported expenses are remarkably low, for example, $19,000 in 2023 against $1.45 million in revenue. This could indicate that many operational costs are not being reported as 'expenses' in the traditional sense, or that the organization primarily functions as a holding entity for housing assets rather than an active program implementer with significant operational outlays.
Filing History
IRS 990 filing history for South Bronx Housing Development Fund Co Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), South Bronx Housing Development Fund Co Inc's revenue has declined by 50.3%, moving from $2.9M to $1.5M. Total assets increased by 1027.7% over the same period, from $1.9M to $21.9M. Total functional expenses fell by 99.2%, from $2.3M to $19K. In its most recent filing year (2023), South Bronx Housing Development Fund Co Inc reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $29K in liabilities against $21.9M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $21.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $19K | $21.9M | $29K | — | — |
| 2022 | $1.5M | $10K | $20.2M | $13K | — | View 990 |
| 2021 | $1.5M | $14K | $19.0M | $18K | — | View 990 |
| 2020 | $1.3M | $809K | $17.5M | $18K | — | View 990 |
| 2019 | $1.2M | $13K | $16.9M | $18K | — | View 990 |
| 2018 | $3.0M | $5K | $15.6M | $7K | — | View 990 |
| 2017 | $896K | $22K | $13.9M | $1.3M | — | View 990 |
| 2016 | $987K | $37K | $13.1M | $1.3M | — | View 990 |
| 2015 | $821K | $9K | $10.9M | $2K | — | View 990 |
| 2014 | $825K | $30K | $10.1M | $2K | — | View 990 |
| 2013 | $741K | $211K | $9.2M | $2K | — | View 990 |
| 2012 | $2.2M | $2.2M | $764K | $208K | — | View 990 |
| 2011 | $2.9M | $2.3M | $1.9M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $19K, and assets of $21.9M (revenue -6.3% year-over-year).
- 2022: Revenue of $1.5M, expenses of $10K, and assets of $20.2M (revenue +6.5% year-over-year).
- 2021: Revenue of $1.5M, expenses of $14K, and assets of $19.0M (revenue +12.9% year-over-year).
- 2020: Revenue of $1.3M, expenses of $809K, and assets of $17.5M (revenue +3.4% year-over-year).
- 2019: Revenue of $1.2M, expenses of $13K, and assets of $16.9M (revenue -57.8% year-over-year).
- 2018: Revenue of $3.0M, expenses of $5K, and assets of $15.6M (revenue +229.5% year-over-year).
- 2017: Revenue of $896K, expenses of $22K, and assets of $13.9M (revenue -9.2% year-over-year).
- 2016: Revenue of $987K, expenses of $37K, and assets of $13.1M (revenue +20.1% year-over-year).
- 2015: Revenue of $821K, expenses of $9K, and assets of $10.9M (revenue -0.4% year-over-year).
- 2014: Revenue of $825K, expenses of $30K, and assets of $10.1M (revenue +11.3% year-over-year).
- 2013: Revenue of $741K, expenses of $211K, and assets of $9.2M (revenue -66.1% year-over-year).
- 2012: Revenue of $2.2M, expenses of $2.2M, and assets of $764K (revenue -25.2% year-over-year).
- 2011: Revenue of $2.9M, expenses of $2.3M, and assets of $1.9M.
Data Sources and Methodology
This transparency report for South Bronx Housing Development Fund Co 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.