Southwest 141 Street Housing Development Fund Company Inc
Housing Development Fund Company consistently operates at a deficit with declining assets and high liabilities.
EIN: 133175057 · Richmond Hill, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $2.2M |
| Program Spending | 70% |
| Net Assets | $-5,608,062 |
| Transparency Score | 45/100 |
Is Southwest 141 Street Housing Development Fund Company Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southwest 141 Street Housing Development Fund Company Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Southwest 141 Street Housing Development Fund Company Inc
Southwest 141 Street Housing Development Fund Company Inc (EIN: 133175057) is a nonprofit organization based in Richmond Hill, NY. The organization reported total revenue of $1.9M and total assets of $7.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southwest 141 Street Housing Development Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southwest 141 Street Housing Development Fund Company Inc is a mid-size nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-340,503 |
| Total Assets | $7.3M |
| Total Liabilities | $12.9M |
| Net Assets | $-5,608,062 |
| Operating Margin | -18.5% |
| Debt-to-Asset Ratio | 176.8% |
| Months of Reserves | 40.3 months |
Financial Health Grade: C
In 2023, Southwest 141 Street Housing Development Fund Company Inc reported a deficit of $341K with expenses exceeding revenue, holds 40.3 months of operating reserves (strong position), has a debt-to-asset ratio of 176.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Southwest 141 Street Housing Development Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.9% | +12.5% | -4.6% |
| 2022 | +0.8% | -29.0% | -2.3% |
| 2021 | +1.7% | +25.7% | -0.7% |
| 2020 | +1.6% | +10.0% | -5.0% |
| 2019 | +3.1% | +3.9% | -4.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Southwest 141 Street Housing Development Fund Company Inc with a Mission Score of 45 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Southwest 141 Street Housing Development Fund Company Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. 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 deficit of $341K, with expenses exceeding revenue.
- Debt-to-asset ratio: 176.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer-led executive team or that executive salaries are not separately disclosed and are embedded within other operational expenses.
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 Southwest 141 Street Housing Development Fund Company Inc's IRS 990 filings:
- Consistent annual operating deficits (e.g., $340,503 deficit in 2023).
- Declining total assets over recent years (from $9.1M in 2017 to $7.3M in 2023).
- High liabilities relative to assets (e.g., $12.9M liabilities vs. $7.3M assets in 2023).
- Lack of detailed expense breakdown in provided data makes spending efficiency difficult to assess.
Strengths
The following positive indicators were identified for Southwest 141 Street Housing Development Fund Company Inc:
- Consistent revenue generation over $1.6 million annually.
- No reported officer compensation, potentially indicating a lean administrative structure or volunteer leadership.
Frequently Asked Questions about Southwest 141 Street Housing Development Fund Company Inc
Is Southwest 141 Street Housing Development Fund Company Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Southwest 141 Street Housing Development Fund Company Inc (EIN: 133175057) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Southwest 141 Street Housing Development Fund Company Inc spend its money?
Southwest 141 Street Housing Development Fund Company Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Southwest 141 Street Housing Development Fund Company Inc tax-deductible?
Southwest 141 Street Housing Development Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 133175057). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Southwest 141 Street Housing Development Fund Company Inc's spending goes to programs?
Southwest 141 Street Housing Development Fund Company Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Southwest 141 Street Housing Development Fund Company Inc located?
Southwest 141 Street Housing Development Fund Company Inc is headquartered in Richmond Hill, New York and files with the IRS under EIN 133175057.
How many years of IRS 990 filings does Southwest 141 Street Housing Development Fund Company Inc have?
Southwest 141 Street 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 $1.9M in total revenue.
Is Southwest 141 Street Housing Development Fund Company Inc financially sustainable?
The organization has consistently reported expenses exceeding revenue for many years (e.g., $2,176,169 expenses vs. $1,835,666 revenue in 2023), leading to persistent deficits and a declining asset base, which raises concerns about long-term financial sustainability.
What is the nature of the organization's significant liabilities?
The organization consistently carries high liabilities relative to its assets (e.g., $12,914,420 in liabilities vs. $7,306,358 in assets in 2023). A deeper dive into the 990 forms would be needed to understand if these are primarily mortgages, program-related debt, or other obligations.
How does the organization cover its annual deficits?
With expenses consistently exceeding revenue, the organization must be drawing from reserves, incurring new debt, or receiving non-operating income not reflected in the 'Revenue' figures to cover its operational shortfalls. The declining asset trend suggests a reliance on existing assets.
Filing History
IRS 990 filing history for Southwest 141 Street Housing Development Fund Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Southwest 141 Street Housing Development Fund Company Inc's revenue has grown by 23.2%, moving from $1.5M to $1.8M. Total assets increased by 35.8% over the same period, from $5.4M to $7.3M. Total functional expenses rose by 38.6%, from $1.6M to $2.2M. In its most recent filing year (2023), Southwest 141 Street Housing Development Fund Company Inc reported a deficit of $341K, with expenses exceeding revenue. The organization holds $12.9M in liabilities against $7.3M in assets (debt-to-asset ratio: 176.8%), resulting in net assets of $-5,608,062.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $2.2M | $7.3M | $12.9M | — | — |
| 2022 | $1.8M | $1.9M | $7.7M | $12.9M | — | View 990 |
| 2021 | $1.8M | $2.7M | $7.8M | $12.9M | — | View 990 |
| 2020 | $1.7M | $2.2M | $7.9M | $12.0M | — | View 990 |
| 2019 | $1.7M | $2.0M | $8.3M | $12.0M | — | View 990 |
| 2018 | $1.6M | $1.9M | $8.7M | $12.1M | — | View 990 |
| 2017 | $1.6M | $1.8M | $9.1M | $12.3M | — | View 990 |
| 2016 | $1.6M | $1.9M | $8.1M | $11.2M | — | View 990 |
| 2015 | $1.6M | $2.0M | $6.6M | $9.4M | — | View 990 |
| 2014 | $1.7M | $1.7M | $6.7M | $9.0M | — | View 990 |
| 2013 | $1.9M | $1.6M | $5.8M | $8.2M | — | View 990 |
| 2012 | $1.6M | $1.6M | $5.3M | $8.0M | — | View 990 |
| 2011 | $1.5M | $1.6M | $5.4M | $8.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $2.2M, and assets of $7.3M (revenue +3.9% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.9M, and assets of $7.7M (revenue +0.8% year-over-year).
- 2021: Revenue of $1.8M, expenses of $2.7M, and assets of $7.8M (revenue +1.7% year-over-year).
- 2020: Revenue of $1.7M, expenses of $2.2M, and assets of $7.9M (revenue +1.6% year-over-year).
- 2019: Revenue of $1.7M, expenses of $2.0M, and assets of $8.3M (revenue +3.1% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.9M, and assets of $8.7M (revenue -0.1% year-over-year).
- 2017: Revenue of $1.6M, expenses of $1.8M, and assets of $9.1M (revenue +1.7% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.9M, and assets of $8.1M (revenue -1.7% year-over-year).
- 2015: Revenue of $1.6M, expenses of $2.0M, and assets of $6.6M (revenue -4.8% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.7M, and assets of $6.7M (revenue -8.9% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.6M, and assets of $5.8M (revenue +19.1% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.6M, and assets of $5.3M (revenue +7.0% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.6M, and assets of $5.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southwest 141 Street Housing Development Fund Company Inc:
Data Sources and Methodology
This transparency report for Southwest 141 Street 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.