Truro Homes Association
EIN: 237069320 · Annandale, VA
| Metric | Value |
|---|---|
| Total Revenue | $504K |
| Total Expenses | $395K |
| Net Assets | $491K |
Is Truro Homes Association Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Truro Homes Association
Truro Homes Association (EIN: 237069320) is a nonprofit organization based in Annandale, VA. The organization reported total revenue of $504K and total assets of $494K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Truro Homes Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Truro Homes Association is a small nonprofit that has been operating for 55 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $472K |
| Total Expenses | $395K |
| Surplus / Deficit | +$77K |
| Total Assets | $506K |
| Total Liabilities | $15K |
| Net Assets | $491K |
| Operating Margin | 16.3% |
| Debt-to-Asset Ratio | 3.0% |
| Months of Reserves | 15.4 months |
Financial Health Grade: A
In 2023, Truro Homes Association reported a surplus of $77K with revenue exceeding expenses, holds 15.4 months of operating reserves (strong position), has a debt-to-asset ratio of 3.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Truro Homes Association's revenue has grown at a compound annual growth rate (CAGR) of 4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.2% | +4.7% | +19.7% |
| 2022 | +18.1% | +7.2% | +20.8% |
| 2021 | +13.1% | +5.9% | +6.3% |
| 2020 | -12.0% | -6.0% | -1.4% |
| 2019 | +0.3% | -33.7% | +10.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1971 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Truro Homes Association has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Truro Homes Association with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $77K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.0%.
Frequently Asked Questions about Truro Homes Association
Is Truro Homes Association a legitimate charity?
Truro Homes Association (EIN: 237069320) is a registered tax-exempt nonprofit based in Virginia. It has 13 years of IRS 990 filings on record. Total revenue: $504K. No red flags identified. Financial health grade: A.
How does Truro Homes Association spend its money?
Truro Homes Association reported $504K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Truro Homes Association tax-deductible?
Truro Homes Association is registered as a tax-exempt nonprofit (EIN: 237069320). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Truro Homes Association located?
Truro Homes Association is headquartered in Annandale, Virginia and files with the IRS under EIN 237069320.
How many years of IRS 990 filings does Truro Homes Association have?
Truro Homes Association 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 $504K in total revenue.
Filing History
IRS 990 filing history for Truro Homes Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Truro Homes Association's revenue has grown by 65.8%, moving from $285K to $472K. Total assets increased by 92.8% over the same period, from $263K to $506K. Total functional expenses rose by 50.8%, from $262K to $395K. In its most recent filing year (2023), Truro Homes Association reported a surplus of $77K, with revenue exceeding expenses. The organization holds $15K in liabilities against $506K in assets (debt-to-asset ratio: 3.0%), resulting in net assets of $491K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $472K | $395K | $506K | $15K | — | — |
| 2022 | $440K | $377K | $423K | $11K | — | View 990 |
| 2021 | $373K | $352K | $350K | $828 | — | View 990 |
| 2020 | $330K | $332K | $330K | $273 | — | View 990 |
| 2019 | $375K | $354K | $334K | $273 | — | View 990 |
| 2018 | $374K | $533K | $304K | $0 | — | View 990 |
| 2017 | $338K | $234K | $446K | $0 | — | — |
| 2016 | $336K | $383K | $342K | $0 | — | View 990 |
| 2015 | $325K | $282K | $390K | $0 | — | View 990 |
| 2014 | $324K | $302K | $346K | $0 | — | View 990 |
| 2013 | $322K | $275K | $325K | $0 | — | View 990 |
| 2012 | $275K | $274K | $263K | $0 | — | View 990 |
| 2011 | $285K | $262K | $263K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $472K, expenses of $395K, and assets of $506K (revenue +7.2% year-over-year).
- 2022: Revenue of $440K, expenses of $377K, and assets of $423K (revenue +18.1% year-over-year).
- 2021: Revenue of $373K, expenses of $352K, and assets of $350K (revenue +13.1% year-over-year).
- 2020: Revenue of $330K, expenses of $332K, and assets of $330K (revenue -12.0% year-over-year).
- 2019: Revenue of $375K, expenses of $354K, and assets of $334K (revenue +0.3% year-over-year).
- 2018: Revenue of $374K, expenses of $533K, and assets of $304K (revenue +10.5% year-over-year).
- 2017: Revenue of $338K, expenses of $234K, and assets of $446K (revenue +0.6% year-over-year).
- 2016: Revenue of $336K, expenses of $383K, and assets of $342K (revenue +3.5% year-over-year).
- 2015: Revenue of $325K, expenses of $282K, and assets of $390K (revenue +0.3% year-over-year).
- 2014: Revenue of $324K, expenses of $302K, and assets of $346K (revenue +0.5% year-over-year).
- 2013: Revenue of $322K, expenses of $275K, and assets of $325K (revenue +17.2% year-over-year).
- 2012: Revenue of $275K, expenses of $274K, and assets of $263K (revenue -3.4% year-over-year).
- 2011: Revenue of $285K, expenses of $262K, and assets of $263K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Truro Homes Association:
Data Sources and Methodology
This transparency report for Truro Homes Association 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.