St Thomas Episcopal Senior Citizens Housing Devel Fund Corp

St Thomas Episcopal Senior Citizens Housing Devel Fund Corp shows strong program spending and significant asset growth in 2023 with no reported officer compensation.

EIN: 133162242 · Long Is City, NY · NTEE: L220 · Updated: 2026-03-28

$3.2MRevenue

$18.1MAssets

85/100Mission Score (Excellent)

L220

About St Thomas Episcopal Senior Citizens Housing Devel Fund Corp

St Thomas Episcopal Senior Citizens Housing Devel Fund Corp (EIN: 133162242) is a nonprofit organization based in Long Is City, NY, classified under NTEE code L220. The organization reported total revenue of $3.2M and total assets of $18.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Thomas Episcopal Senior Citizens Housing Devel Fund Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

St Thomas Episcopal Senior Citizens Housing Devel Fund Corp demonstrates consistent financial operations focused on its mission of providing senior housing. The organization consistently spends a high percentage of its expenses on program services, as evidenced by the latest filing (202312) where expenses were $2,015,666 against revenue of $3,048,911, indicating efficient use of funds. Over the past several years, the organization has maintained a stable revenue stream, generally increasing, which supports its long-term viability. The significant increase in assets to $19,287,460 in 2023 from $1,571,672 in 2022, alongside a corresponding increase in liabilities, suggests a major capital project or asset acquisition, which is typical for housing development funds and warrants further investigation into the nature of these assets and liabilities to fully understand the financial implications.

The organization's financial health appears stable, with revenues consistently exceeding expenses in recent years, allowing for asset growth. The absence of reported officer compensation across all filings indicates a volunteer-led or externally managed executive structure, which can contribute to lower administrative costs. While the overall financial picture is positive regarding program delivery, the substantial shift in asset and liability figures between 2022 and 2023 is a key area for deeper scrutiny to ensure financial stability and proper management of new capital.

Transparency is generally good, with consistent 990 filings available. The detailed breakdown of expenses would provide even greater clarity on the specific allocation of funds within program services, administration, and fundraising. However, the consistent lack of officer compensation is a positive indicator of resource allocation directly to the mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates St Thomas Episcopal Senior Citizens Housing Devel Fund Corp with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 8%
programs: 90%
fundraising: 2%

According to IRS 990 filings, St Thomas Episcopal Senior Citizens Housing Devel Fund Corp allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either volunteer-based or compensated through an external entity, which contributes to lower administrative overhead.

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 Thomas Episcopal Senior Citizens Housing Devel Fund Corp's IRS 990 filings:

Significant increase in liabilities from $798,184 in 2022 to $17,480,727 in 2023, requiring scrutiny of the nature and terms of this debt.

Strengths

The following positive indicators were identified for St Thomas Episcopal Senior Citizens Housing Devel Fund Corp:

Consistent high percentage of spending on program services, indicating strong mission focus.
No reported officer compensation across all filings, suggesting efficient use of funds and potentially volunteer leadership.
Stable and generally increasing revenue stream over the past decade, demonstrating financial sustainability.
Substantial asset growth in 2023, potentially indicating expansion of housing capacity or significant capital investment in its mission.

Frequently Asked Questions about St Thomas Episcopal Senior Citizens Housing Devel Fund Corp

Is St Thomas Episcopal Senior Citizens Housing Devel Fund Corp a good charity?

Based on the available IRS 990 data, the organization appears to be a good charity. It consistently dedicates a high percentage of its expenses to program services, has stable revenue, and reports no officer compensation, suggesting efficient use of funds for its mission.

What caused the significant increase in assets and liabilities between 2022 and 2023?

The increase in assets from $1,571,672 in 2022 to $19,287,460 in 2023, accompanied by a similar rise in liabilities, strongly suggests a major capital project, such as the acquisition or development of new housing properties. Further details would be in the full 990 filing's balance sheet and statements of activities.

How does the organization fund its operations given no officer compensation?

The absence of officer compensation suggests that the organization's leadership may be volunteer-based, or that executive services are provided by an affiliated entity or through a management fee structure that is not categorized as direct officer compensation on the 990. This typically indicates a lean operational model.

Filing History

IRS 990 filing history for St Thomas Episcopal Senior Citizens Housing Devel Fund Corp showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), St Thomas Episcopal Senior Citizens Housing Devel Fund Corp's revenue has grown by 67.9%, moving from $1.8M to $3.0M. Total assets increased by 527.4% over the same period, from $3.1M to $19.3M. Total functional expenses rose by 18.8%, from $1.7M to $2.0M. In its most recent filing year (2023), St Thomas Episcopal Senior Citizens Housing Devel Fund Corp reported a surplus of $1.0M, with revenue exceeding expenses. The organization holds $17.5M in liabilities against $19.3M in assets (debt-to-asset ratio: 90.6%), resulting in net assets of $1.8M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.0M	$2.0M	$19.3M	$17.5M	—	—
2022	$2.3M	$1.9M	$1.6M	$798K	—	View 990
2021	$2.4M	$2.1M	$1.6M	$1.2M	—	View 990
2020	$2.3M	$1.9M	$1.6M	$1.5M	—	View 990
2019	$2.2M	$2.0M	$1.7M	$2.1M	—	View 990
2018	$1.9M	$2.0M	$1.8M	$2.4M	—	View 990
2017	$2.0M	$1.9M	$2.0M	$2.6M	—	View 990
2016	$1.9M	$1.8M	$2.3M	$2.9M	—	View 990
2015	$1.9M	$1.8M	$2.6M	$3.3M	—	View 990
2014	$1.9M	$1.8M	$2.6M	$3.5M	—	View 990
2013	$1.8M	$1.7M	$2.8M	$3.7M	—	View 990
2012	$1.7M	$1.7M	$2.9M	$3.9M	—	View 990
2011	$1.8M	$1.7M	$3.1M	$4.1M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.0M, expenses of $2.0M, and assets of $19.3M (revenue +34.0% year-over-year).
2022: Revenue of $2.3M, expenses of $1.9M, and assets of $1.6M (revenue -5.7% year-over-year).
2021: Revenue of $2.4M, expenses of $2.1M, and assets of $1.6M (revenue +5.0% year-over-year).
2020: Revenue of $2.3M, expenses of $1.9M, and assets of $1.6M (revenue +4.9% year-over-year).
2019: Revenue of $2.2M, expenses of $2.0M, and assets of $1.7M (revenue +14.2% year-over-year).
2018: Revenue of $1.9M, expenses of $2.0M, and assets of $1.8M (revenue -2.2% year-over-year).
2017: Revenue of $2.0M, expenses of $1.9M, and assets of $2.0M (revenue +1.2% year-over-year).
2016: Revenue of $1.9M, expenses of $1.8M, and assets of $2.3M (revenue +2.3% year-over-year).
2015: Revenue of $1.9M, expenses of $1.8M, and assets of $2.6M (revenue +1.4% year-over-year).
2014: Revenue of $1.9M, expenses of $1.8M, and assets of $2.6M (revenue +1.4% year-over-year).
2013: Revenue of $1.8M, expenses of $1.7M, and assets of $2.8M (revenue +6.1% year-over-year).
2012: Revenue of $1.7M, expenses of $1.7M, and assets of $2.9M (revenue -4.5% year-over-year).
2011: Revenue of $1.8M, expenses of $1.7M, and assets of $3.1M.

Data Sources and Methodology

This transparency report for St Thomas Episcopal Senior Citizens Housing Devel Fund Corp 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.