Statewide Affordable Housing Smallprojects Inc
Statewide Affordable Housing Smallprojects Inc maintains stable operations with no executive compensation, despite a decade of declining assets.
EIN: 205420992 · Newport, RI · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $212K |
| Total Expenses | $203K |
| Program Spending | 90% |
| Net Assets | $-2,150 |
| Transparency Score | 85/100 |
Is Statewide Affordable Housing Smallprojects Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Statewide Affordable Housing Smallprojects Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Statewide Affordable Housing Smallprojects Inc
Statewide Affordable Housing Smallprojects Inc (EIN: 205420992) is a nonprofit organization based in Newport, RI, classified under NTEE code L21. The organization reported total revenue of $212K and total assets of $668K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Statewide Affordable Housing Smallprojects Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Statewide Affordable Housing Smallprojects Inc is a small nonprofit that has been operating for 17 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $198K |
| Total Expenses | $203K |
| Surplus / Deficit | $-4,504 |
| Total Assets | $645K |
| Total Liabilities | $647K |
| Net Assets | $-2,150 |
| Operating Margin | -2.3% |
| Debt-to-Asset Ratio | 100.3% |
| Months of Reserves | 38.1 months |
Financial Health Grade: C
In 2023, Statewide Affordable Housing Smallprojects Inc reported a deficit of $5K with expenses exceeding revenue, holds 38.1 months of operating reserves (strong position), has a debt-to-asset ratio of 100.3% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Statewide Affordable Housing Smallprojects Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.4% | +11.8% | -7.5% |
| 2022 | +11.4% | +15.7% | -4.3% |
| 2021 | +17.8% | +1.1% | +1.7% |
| 2020 | +1.4% | -1.2% | -3.2% |
| 2019 | +9.8% | +3.2% | -1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Statewide Affordable Housing Smallprojects Inc 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Statewide Affordable Housing Smallprojects Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $5K, with expenses exceeding revenue.
- Debt-to-asset ratio: 100.3%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all 14 available filings, indicating that no officers receive salaries from the organization, which is highly unusual for an organization of its size and suggests a strong volunteer-driven leadership or alternative compensation structures not reported as officer compensation.
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 Statewide Affordable Housing Smallprojects Inc's IRS 990 filings:
- Consistent decline in total assets over the past decade (from $822,274 in 2014 to $644,851 in 2023)
- Operating at a slight deficit in the most recent fiscal year (Expenses $202,930 vs. Revenue $198,426 in 202312)
Strengths
The following positive indicators were identified for Statewide Affordable Housing Smallprojects Inc:
- Consistent reporting of 0% officer compensation across all 14 filings, indicating high efficiency and mission focus regarding executive pay.
- Long and consistent IRS 990 filing history (14 filings), demonstrating strong transparency and compliance.
- Liabilities have also decreased over time, suggesting responsible financial management despite asset decline (from $823,289 in 2014 to $647,001 in 2023).
Frequently Asked Questions about Statewide Affordable Housing Smallprojects Inc
Is Statewide Affordable Housing Smallprojects Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Statewide Affordable Housing Smallprojects Inc (EIN: 205420992) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Statewide Affordable Housing Smallprojects Inc spend its money?
Statewide Affordable Housing Smallprojects Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Statewide Affordable Housing Smallprojects Inc tax-deductible?
Statewide Affordable Housing Smallprojects Inc is registered as a tax-exempt nonprofit (EIN: 205420992). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Statewide Affordable Housing Smallprojects Inc's spending goes to programs?
Statewide Affordable Housing Smallprojects Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Statewide Affordable Housing Smallprojects Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Statewide Affordable Housing Smallprojects Inc is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Statewide Affordable Housing Smallprojects Inc located?
Statewide Affordable Housing Smallprojects Inc is headquartered in Newport, Rhode Island and files with the IRS under EIN 205420992. It is classified under NTEE code L21.
How many years of IRS 990 filings does Statewide Affordable Housing Smallprojects Inc have?
Statewide Affordable Housing Smallprojects Inc 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 $212K in total revenue.
Is Statewide Affordable Housing Smallprojects Inc a good charity?
Based on the available data, the organization exhibits strong financial transparency with consistent filings and reports 0% officer compensation, which is a positive indicator of mission focus. Its financial health is stable, though assets have gradually declined over the past decade. Without detailed program spending breakdowns, a definitive 'good' rating is challenging, but the lack of executive pay is a significant strength.
Why are assets declining over time?
Assets have decreased from $822,274 in 2014 to $644,851 in 2023. This trend could be due to various factors such as depreciation of properties, strategic asset divestment, or using reserves to cover operational expenses. Further investigation into the balance sheet details would be needed to understand the specific causes.
How does the organization manage without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that compensation is structured in a way that is not reported as 'officer compensation' on the 990, such as through a related entity or as contractor fees. This is a notable characteristic that points to a highly dedicated, potentially unpaid, leadership.
Filing History
IRS 990 filing history for Statewide Affordable Housing Smallprojects Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Statewide Affordable Housing Smallprojects Inc's revenue has grown by 75.6%, moving from $113K to $198K. Total assets decreased by 29.9% over the same period, from $920K to $645K. Total functional expenses rose by 55.6%, from $130K to $203K. In its most recent filing year (2023), Statewide Affordable Housing Smallprojects Inc reported a deficit of $5K, with expenses exceeding revenue. The organization holds $647K in liabilities against $645K in assets (debt-to-asset ratio: 100.3%), resulting in net assets of $-2,150.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $198K | $203K | $645K | $647K | — | View 990 |
| 2022 | $205K | $181K | $697K | $695K | — | View 990 |
| 2021 | $184K | $157K | $728K | $750K | — | View 990 |
| 2020 | $157K | $155K | $716K | $765K | — | View 990 |
| 2019 | $154K | $157K | $740K | $790K | — | View 990 |
| 2018 | $141K | $152K | $749K | $797K | — | View 990 |
| 2017 | $134K | $151K | $762K | $799K | — | View 990 |
| 2016 | $140K | $136K | $803K | $822K | — | View 990 |
| 2015 | $113K | $135K | $792K | $815K | — | View 990 |
| 2014 | $116K | $132K | $822K | $823K | — | View 990 |
| 2013 | $116K | $133K | $857K | $842K | — | View 990 |
| 2012 | $113K | $140K | $881K | $850K | — | View 990 |
| 2011 | $115K | $138K | $895K | $838K | — | View 990 |
| 2010 | $113K | $130K | $920K | $839K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $198K, expenses of $203K, and assets of $645K (revenue -3.4% year-over-year).
- 2022: Revenue of $205K, expenses of $181K, and assets of $697K (revenue +11.4% year-over-year).
- 2021: Revenue of $184K, expenses of $157K, and assets of $728K (revenue +17.8% year-over-year).
- 2020: Revenue of $157K, expenses of $155K, and assets of $716K (revenue +1.4% year-over-year).
- 2019: Revenue of $154K, expenses of $157K, and assets of $740K (revenue +9.8% year-over-year).
- 2018: Revenue of $141K, expenses of $152K, and assets of $749K (revenue +5.1% year-over-year).
- 2017: Revenue of $134K, expenses of $151K, and assets of $762K (revenue -4.6% year-over-year).
- 2016: Revenue of $140K, expenses of $136K, and assets of $803K (revenue +24.5% year-over-year).
- 2015: Revenue of $113K, expenses of $135K, and assets of $792K (revenue -3.1% year-over-year).
- 2014: Revenue of $116K, expenses of $132K, and assets of $822K (revenue +0.4% year-over-year).
- 2013: Revenue of $116K, expenses of $133K, and assets of $857K (revenue +2.2% year-over-year).
- 2012: Revenue of $113K, expenses of $140K, and assets of $881K (revenue -1.3% year-over-year).
- 2011: Revenue of $115K, expenses of $138K, and assets of $895K (revenue +1.6% year-over-year).
- 2010: Revenue of $113K, expenses of $130K, and assets of $920K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Statewide Affordable Housing Smallprojects Inc:
Data Sources and Methodology
This transparency report for Statewide Affordable Housing Smallprojects 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.