St Margarets House Housing Development Fund Corporation
St Margarets House Housing Development Fund Corporation reports significant deficit and increased liabilities in 2023.
EIN: 132947394 · New York, NY · NTEE: L210 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $23.0M |
| Total Expenses | $65.3M |
| Program Spending | 85% |
| Net Assets | $-33,343,089 |
| Transparency Score | 65/100 |
Is St Margarets House Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
St Margarets House Housing Development Fund Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About St Margarets House Housing Development Fund Corporation
St Margarets House Housing Development Fund Corporation (EIN: 132947394) is a nonprofit organization based in New York, NY, classified under NTEE code L210. The organization reported total revenue of $23.0M and total assets of $32.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Margarets House Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
St Margarets House Housing Development Fund Corporation is a large nonprofit that has been operating for 25 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.5M |
| Total Expenses | $65.3M |
| Surplus / Deficit | $-53,803,883 |
| Total Assets | $31.1M |
| Total Liabilities | $64.4M |
| Net Assets | $-33,343,089 |
| Operating Margin | -468.2% |
| Debt-to-Asset Ratio | 207.3% |
| Months of Reserves | 5.7 months |
Financial Health Grade: C
In 2023, St Margarets House Housing Development Fund Corporation reported a deficit of $53.8M with expenses exceeding revenue, holds 5.7 months of operating reserves (adequate), has a debt-to-asset ratio of 207.3% (high leverage).
Financial Trends
Over 14 years of filings (2011–2023), St Margarets House Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.0% | +498.2% | +45.5% |
| 2022 | +5.4% | +77.0% | -5.6% |
| 2021 | -2.3% | +5.1% | +26.0% |
| 2020 | -0.4% | +7.1% | +15.8% |
| 2019 | -15.4% | -1.9% | +28.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
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 St Margarets House Housing Development Fund Corporation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, St Margarets House Housing Development Fund Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 deficit of $53.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 207.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly favorable for minimizing administrative 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 St Margarets House Housing Development Fund Corporation's IRS 990 filings:
- Significant deficit in 2023 ($53,803,883) where expenses vastly exceeded revenue.
- Dramatic increase in liabilities in 2023 ($64,408,613) compared to previous years, indicating substantial debt.
- Negative net asset position in 2023, with liabilities almost double assets ($64,408,613 vs $31,065,524).
Strengths
The following positive indicators were identified for St Margarets House Housing Development Fund Corporation:
- Consistent reporting of 0% officer compensation, indicating low administrative overhead for leadership.
- Significant asset growth over time, from $6,073,539 in 2015 to $31,065,524 in 2023, demonstrating capacity building.
- Mission-aligned NTEE code (L210) suggests that large capital expenditures and debt are inherent to its housing development purpose.
Frequently Asked Questions about St Margarets House Housing Development Fund Corporation
Is St Margarets House Housing Development Fund Corporation a legitimate charity?
St Margarets House Housing Development Fund Corporation (EIN: 132947394) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 14 years of IRS 990 filings on record. Total revenue: $23.0M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does St Margarets House Housing Development Fund Corporation spend its money?
St Margarets House Housing Development Fund Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to St Margarets House Housing Development Fund Corporation tax-deductible?
St Margarets House Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 132947394). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of St Margarets House Housing Development Fund Corporation's spending goes to programs?
St Margarets House Housing Development Fund Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does St Margarets House Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 65/100 (Good), St Margarets House Housing Development Fund Corporation is above average for NTEE category L210 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is St Margarets House Housing Development Fund Corporation located?
St Margarets House Housing Development Fund Corporation is headquartered in New York, New York and files with the IRS under EIN 132947394. It is classified under NTEE code L210.
How many years of IRS 990 filings does St Margarets House Housing Development Fund Corporation have?
St Margarets House Housing Development Fund Corporation 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 $23.0M in total revenue.
What caused the dramatic increase in expenses and liabilities in the 2023 fiscal period?
The provided data shows expenses jumped from $10,914,696 in 2022 to $65,295,026 in 2023, and liabilities from $1,056,394 to $64,408,613. This significant change likely reflects major capital expenditures or debt financing for housing development projects, which is typical for organizations with NTEE code L210, but requires further detail from the full 990 filing.
Is the organization's financial model sustainable given the 2023 deficit?
The 2023 deficit, where expenses ($65,295,026) far exceeded revenue ($11,491,143), raises concerns about sustainability if this trend continues. However, for housing development organizations, large deficits can occur during project development phases, with future revenue streams (e.g., rental income, grants) expected to cover costs. A deeper look into their long-term financial planning is needed.
How does the organization fund its operations without executive compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that executive services are provided by an external entity not directly compensated by the organization, or through other means not classified as officer compensation on the 990.
Filing History
IRS 990 filing history for St Margarets House Housing Development Fund Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), St Margarets House Housing Development Fund Corporation's revenue has grown by 116.1%, moving from $5.3M to $11.5M. Total assets increased by 351.4% over the same period, from $6.9M to $31.1M. Total functional expenses rose by 1155.8%, from $5.2M to $65.3M. In its most recent filing year (2023), St Margarets House Housing Development Fund Corporation reported a deficit of $53.8M, with expenses exceeding revenue. The organization holds $64.4M in liabilities against $31.1M in assets (debt-to-asset ratio: 207.3%), resulting in net assets of $-33,343,089.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.5M | $65.3M | $31.1M | $64.4M | — | — |
| 2022 | $10.4M | $10.9M | $21.3M | $1.1M | — | View 990 |
| 2021 | $9.8M | $6.2M | $22.6M | $1.5M | — | View 990 |
| 2020 | $10.1M | $5.9M | $17.9M | $565K | — | View 990 |
| 2019 | $10.1M | $5.5M | $15.5M | $2.4M | — | View 990 |
| 2018 | $11.9M | $5.6M | $12.1M | $3.8M | — | View 990 |
| 2017 | $1.3M | $1.1M | $7.0M | $4.9M | — | View 990 |
| 2017 | $5.2M | $4.5M | $6.6M | $4.8M | — | View 990 |
| 2016 | $5.1M | $4.5M | $6.2M | $5.2M | — | View 990 |
| 2015 | $5.0M | $4.5M | $6.1M | $5.7M | — | View 990 |
| 2014 | $5.0M | $4.4M | $6.2M | $6.4M | — | View 990 |
| 2013 | $5.4M | $5.2M | $6.2M | $7.0M | — | View 990 |
| 2012 | $5.4M | $5.3M | $6.5M | $7.6M | — | View 990 |
| 2011 | $5.3M | $5.2M | $6.9M | $8.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.5M, expenses of $65.3M, and assets of $31.1M (revenue +11.0% year-over-year).
- 2022: Revenue of $10.4M, expenses of $10.9M, and assets of $21.3M (revenue +5.4% year-over-year).
- 2021: Revenue of $9.8M, expenses of $6.2M, and assets of $22.6M (revenue -2.3% year-over-year).
- 2020: Revenue of $10.1M, expenses of $5.9M, and assets of $17.9M (revenue -0.4% year-over-year).
- 2019: Revenue of $10.1M, expenses of $5.5M, and assets of $15.5M (revenue -15.4% year-over-year).
- 2018: Revenue of $11.9M, expenses of $5.6M, and assets of $12.1M (revenue +802.8% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.1M, and assets of $7.0M (revenue -74.7% year-over-year).
- 2017: Revenue of $5.2M, expenses of $4.5M, and assets of $6.6M (revenue +1.9% year-over-year).
- 2016: Revenue of $5.1M, expenses of $4.5M, and assets of $6.2M (revenue +2.0% year-over-year).
- 2015: Revenue of $5.0M, expenses of $4.5M, and assets of $6.1M (revenue +1.2% year-over-year).
- 2014: Revenue of $5.0M, expenses of $4.4M, and assets of $6.2M (revenue -8.1% year-over-year).
- 2013: Revenue of $5.4M, expenses of $5.2M, and assets of $6.2M (revenue +1.1% year-over-year).
- 2012: Revenue of $5.4M, expenses of $5.3M, and assets of $6.5M (revenue +0.7% year-over-year).
- 2011: Revenue of $5.3M, expenses of $5.2M, and assets of $6.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for St Margarets House Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for St Margarets House Housing Development Fund Corporation 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.