St Matthew Housing Development Inc
St Matthew Housing Development Inc: Stable Operations Amidst Declining Assets
EIN: 222813779 · Philadelphia, PA · NTEE: L22 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $958K |
| Total Expenses | $921K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $-1,565,626 |
| Transparency Score | 75/100 |
Is St Matthew Housing Development Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
St Matthew Housing Development Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About St Matthew Housing Development Inc
St Matthew Housing Development Inc (EIN: 222813779) is a nonprofit organization based in Philadelphia, PA, classified under NTEE code L22. The organization reported total revenue of $958K and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Matthew Housing Development Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
St Matthew Housing Development Inc is a small nonprofit that has been operating for 8 years, with 7 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $927K |
| Total Expenses | $921K |
| Surplus / Deficit | +$6K |
| Total Assets | $2.5M |
| Total Liabilities | $4.1M |
| Net Assets | $-1,565,626 |
| Operating Margin | 0.6% |
| Debt-to-Asset Ratio | 162.8% |
| Months of Reserves | 32.5 months |
Financial Health Grade: A
In 2023, St Matthew Housing Development Inc reported a surplus of $6K with revenue exceeding expenses, holds 32.5 months of operating reserves (strong position), has a debt-to-asset ratio of 162.8% (high leverage).
Financial Trends
Over 7 years of filings (2017–2023), St Matthew Housing Development Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.9% | -3.2% | -3.3% |
| 2022 | -0.7% | +8.9% | -4.7% |
| 2021 | +3.1% | -6.6% | +0.0% |
| 2020 | +2.1% | -1.4% | -4.0% |
| 2019 | +1.6% | -1.4% | -5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2018 |
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 Matthew Housing Development 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, St Matthew Housing Development Inc 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 surplus of $6K, with revenue exceeding expenses.
- Debt-to-asset ratio: 162.8%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available years, suggesting a volunteer-led or externally managed executive structure.
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 Matthew Housing Development Inc's IRS 990 filings:
- Total assets have steadily declined from $3,141,023 in 2017 to $2,494,570 in 2023, a decrease of over $646,000.
- Liabilities consistently exceed assets, with liabilities at $4,060,196 and assets at $2,494,570 in 2023, indicating a significant negative net asset position.
Strengths
The following positive indicators were identified for St Matthew Housing Development Inc:
- Consistent revenue generation, with an increase from $820,197 in 2017 to $926,506 in 2023.
- Reported 0% executive compensation suggests efficient use of funds for mission-related activities.
- Stable operational expenses relative to revenue over the past several years.
Frequently Asked Questions about St Matthew Housing Development Inc
Is St Matthew Housing Development Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, St Matthew Housing Development Inc (EIN: 222813779) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does St Matthew Housing Development Inc spend its money?
St Matthew Housing Development Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to St Matthew Housing Development Inc tax-deductible?
St Matthew Housing Development Inc is registered as a tax-exempt nonprofit (EIN: 222813779). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the St Matthew Housing Development Inc CEO make?
St Matthew Housing Development Inc's highest-compensated officer earns $0 annually. The organization reported $958K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of St Matthew Housing Development Inc's spending goes to programs?
St Matthew Housing Development Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does St Matthew Housing Development Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), St Matthew Housing Development Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is St Matthew Housing Development Inc located?
St Matthew Housing Development Inc is headquartered in Philadelphia, Pennsylvania and files with the IRS under EIN 222813779. It is classified under NTEE code L22.
How many years of IRS 990 filings does St Matthew Housing Development Inc have?
St Matthew Housing Development Inc has 7 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 $958K in total revenue.
What does St Matthew Housing Development Inc do?
St Matthew Housing Development Inc is a nonprofit organization in the Housing & Shelter sector, located in Philadelphia, Pennsylvania. It is classified under NTEE code L22.
How much revenue does St Matthew Housing Development Inc have?
St Matthew Housing Development Inc reported total revenue of $957,793. Based on 7 IRS 990 filings on record.
What are St Matthew Housing Development Inc's total assets?
St Matthew Housing Development Inc holds total assets of $2,332,567 as reported in IRS 990 filings.
Where is St Matthew Housing Development Inc located?
St Matthew Housing Development Inc is based in Philadelphia, Pennsylvania.
What is St Matthew Housing Development Inc's EIN?
St Matthew Housing Development Inc's Employer Identification Number (EIN) is 222813779. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is St Matthew Housing Development Inc?
St Matthew Housing Development Inc is classified under NTEE code L22 (Housing & Shelter).
Is St Matthew Housing Development Inc a registered 501(c)(3)?
Yes, St Matthew Housing Development Inc is recognized as a tax-exempt organization by the IRS. EIN: 222813779.
Does St Matthew Housing Development Inc file IRS Form 990?
Yes, St Matthew Housing Development Inc has 7 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was St Matthew Housing Development Inc's revenue in 2023?
In the 202312 filing period, St Matthew Housing Development Inc reported total revenue of $926,506, total expenses of $920,837, and net assets of $2,494,570.
Is St Matthew Housing Development Inc's revenue growing or declining?
St Matthew Housing Development Inc's revenue is relatively stable. Revenue went from $892,131 (202212) to $926,506 (202312), a +3.9% change. Based on 7 filings on record.
What is St Matthew Housing Development Inc's most recent 990 filing?
The most recent IRS Form 990 filing for St Matthew Housing Development Inc covers tax period 202312. It shows revenue of $926,506, expenses of $920,837, total assets of $2,494,570, and liabilities of $4,060,196.
How much does St Matthew Housing Development Inc spend on programs vs administration?
Based on IRS 990 analysis, St Matthew Housing Development Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is St Matthew Housing Development Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, St Matthew Housing Development Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for St Matthew Housing Development Inc?
The following concerns were identified: Total assets have steadily declined from $3,141,023 in 2017 to $2,494,570 in 2023, a decrease of over $646,000.. Liabilities consistently exceed assets, with liabilities at $4,060,196 and assets at $2,494,570 in 2023, indicating a significant negative net asset position.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are St Matthew Housing Development Inc's strengths?
Positive indicators for St Matthew Housing Development Inc include: Consistent revenue generation, with an increase from $820,197 in 2017 to $926,506 in 2023.. Reported 0% executive compensation suggests efficient use of funds for mission-related activities.. Stable operational expenses relative to revenue over the past several years.. These findings are derived from AI analysis of the organization's financial filings.
How does St Matthew Housing Development Inc compensate executives?
Executive compensation is reported as $0 across all available years, suggesting a volunteer-led or externally managed executive structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent decline in assets and the significant negative net asset position, how does St Matthew Housing Development Inc sustain its operations and what is the long-term strategy to address this financial imbalance?
The provided data does not offer insight into the specific nature of the assets or liabilities, but the sustained operations despite these trends suggest either significant non-cash assets, external support not reflected in revenue, or a focus on managing cash flow rather than asset growth. A deeper dive into their balance sheet and funding sources would be necessary to understand their sustainability strategy.
Filing History
IRS 990 filing history for St Matthew Housing Development Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), St Matthew Housing Development Inc's revenue has grown by 13%, moving from $820K to $927K. Total assets decreased by 20.6% over the same period, from $3.1M to $2.5M. Total functional expenses fell by 0.4%, from $925K to $921K. In its most recent filing year (2023), St Matthew Housing Development Inc reported a surplus of $6K, with revenue exceeding expenses. The organization holds $4.1M in liabilities against $2.5M in assets (debt-to-asset ratio: 162.8%), resulting in net assets of $-1,565,626.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $927K | $921K | $2.5M | $4.1M | — | — |
| 2022 | $892K | $951K | $2.6M | $4.2M | — | View 990 |
| 2021 | $899K | $874K | $2.7M | $4.2M | — | View 990 |
| 2020 | $871K | $936K | $2.7M | $4.2M | — | View 990 |
| 2019 | $854K | $950K | $2.8M | $4.3M | — | View 990 |
| 2018 | $840K | $963K | $3.0M | $4.4M | — | View 990 |
| 2017 | $820K | $925K | $3.1M | $4.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $927K, expenses of $921K, and assets of $2.5M (revenue +3.9% year-over-year).
- 2022: Revenue of $892K, expenses of $951K, and assets of $2.6M (revenue -0.7% year-over-year).
- 2021: Revenue of $899K, expenses of $874K, and assets of $2.7M (revenue +3.1% year-over-year).
- 2020: Revenue of $871K, expenses of $936K, and assets of $2.7M (revenue +2.1% year-over-year).
- 2019: Revenue of $854K, expenses of $950K, and assets of $2.8M (revenue +1.6% year-over-year).
- 2018: Revenue of $840K, expenses of $963K, and assets of $3.0M (revenue +2.5% year-over-year).
- 2017: Revenue of $820K, expenses of $925K, and assets of $3.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for St Matthew Housing Development Inc:
Data Sources and Methodology
This transparency report for St Matthew Housing Development 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.