Varnville Area Housing Corporation
EIN: 570661836 · Varnville, SC
| Metric | Value |
|---|---|
| Total Revenue | $694K |
| Total Expenses | $737K |
| Net Assets | $1.4M |
Is Varnville Area Housing Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Varnville Area Housing Corporation
Varnville Area Housing Corporation (EIN: 570661836) is a nonprofit organization based in Varnville, SC. The organization reported total revenue of $694K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Varnville Area Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Varnville Area Housing Corporation is a small nonprofit that has been operating for 46 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -2.3%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $532K |
| Total Expenses | $737K |
| Surplus / Deficit | $-205,102 |
| Total Assets | $1.5M |
| Total Liabilities | $48K |
| Net Assets | $1.4M |
| Operating Margin | -38.6% |
| Debt-to-Asset Ratio | 3.3% |
| Months of Reserves | 23.8 months |
Financial Health Grade: B
In 2022, Varnville Area Housing Corporation reported a deficit of $205K with expenses exceeding revenue, holds 23.8 months of operating reserves (strong position), has a debt-to-asset ratio of 3.3% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2022), Varnville Area Housing Corporation's revenue has declined at a compound annual growth rate (CAGR) of -2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -22.0% | +10.5% | -12.3% |
| 2021 | +9.0% | +3.8% | +0.9% |
| 2020 | +7.3% | -3.4% | -1.0% |
| 2019 | -9.6% | -7.5% | -5.6% |
| 2018 | -3.3% | -3.4% | -4.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1980 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Varnville Area Housing Corporation 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 Varnville Area Housing Corporation 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $205K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.3%.
Frequently Asked Questions about Varnville Area Housing Corporation
Is Varnville Area Housing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Varnville Area Housing Corporation (EIN: 570661836) insufficient data. 0 red flags identified, 0 strengths noted.
How does Varnville Area Housing Corporation spend its money?
Detailed spending breakdown data is not yet available for Varnville Area Housing Corporation. Check back for updated IRS 990 analysis.
Are donations to Varnville Area Housing Corporation tax-deductible?
Varnville Area Housing Corporation is registered as a tax-exempt nonprofit (EIN: 570661836). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Varnville Area Housing Corporation located?
Varnville Area Housing Corporation is headquartered in Varnville, South Carolina and files with the IRS under EIN 570661836.
How many years of IRS 990 filings does Varnville Area Housing Corporation have?
Varnville Area Housing Corporation has 12 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 $694K in total revenue.
Filing History
IRS 990 filing history for Varnville Area Housing Corporation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Varnville Area Housing Corporation's revenue has declined by 22.4%, moving from $685K to $532K. Total assets decreased by 25.6% over the same period, from $2.0M to $1.5M. Total functional expenses rose by 21.6%, from $606K to $737K. In its most recent filing year (2022), Varnville Area Housing Corporation reported a deficit of $205K, with expenses exceeding revenue. The organization holds $48K in liabilities against $1.5M in assets (debt-to-asset ratio: 3.3%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $532K | $737K | $1.5M | $48K | — | — |
| 2021 | $682K | $667K | $1.7M | $48K | — | View 990 |
| 2020 | $626K | $642K | $1.7M | $48K | — | — |
| 2019 | $583K | $665K | $1.7M | $48K | — | View 990 |
| 2018 | $645K | $719K | $1.8M | $64K | — | View 990 |
| 2017 | $667K | $744K | $1.8M | $63K | — | — |
| 2016 | $687K | $703K | $1.9M | $47K | — | View 990 |
| 2015 | $692K | $668K | $1.9M | $45K | — | View 990 |
| 2014 | $562K | $610K | $1.9M | $40K | — | View 990 |
| 2013 | $670K | $670K | $2.2M | $278K | — | View 990 |
| 2012 | $654K | $688K | $1.9M | $38K | — | View 990 |
| 2011 | $685K | $606K | $2.0M | $37K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $532K, expenses of $737K, and assets of $1.5M (revenue -22.0% year-over-year).
- 2021: Revenue of $682K, expenses of $667K, and assets of $1.7M (revenue +9.0% year-over-year).
- 2020: Revenue of $626K, expenses of $642K, and assets of $1.7M (revenue +7.3% year-over-year).
- 2019: Revenue of $583K, expenses of $665K, and assets of $1.7M (revenue -9.6% year-over-year).
- 2018: Revenue of $645K, expenses of $719K, and assets of $1.8M (revenue -3.3% year-over-year).
- 2017: Revenue of $667K, expenses of $744K, and assets of $1.8M (revenue -2.8% year-over-year).
- 2016: Revenue of $687K, expenses of $703K, and assets of $1.9M (revenue -0.7% year-over-year).
- 2015: Revenue of $692K, expenses of $668K, and assets of $1.9M (revenue +23.1% year-over-year).
- 2014: Revenue of $562K, expenses of $610K, and assets of $1.9M (revenue -16.2% year-over-year).
- 2013: Revenue of $670K, expenses of $670K, and assets of $2.2M (revenue +2.5% year-over-year).
- 2012: Revenue of $654K, expenses of $688K, and assets of $1.9M (revenue -4.6% year-over-year).
- 2011: Revenue of $685K, expenses of $606K, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Varnville Area Housing Corporation:
Data Sources and Methodology
This transparency report for Varnville Area Housing 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.