Velva Rental Housing Inc
EIN: 450333793 · Velva, ND
| Metric | Value |
|---|---|
| Total Revenue | $192K |
| Total Expenses | $216K |
| Net Assets | $49K |
Is Velva Rental Housing Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Velva Rental Housing Inc
Velva Rental Housing Inc (EIN: 450333793) is a nonprofit organization based in Velva, ND. The organization reported total revenue of $192K and total assets of $584K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Velva Rental Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Velva Rental Housing Inc is a small nonprofit that has been operating for 50 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $168K |
| Total Expenses | $216K |
| Surplus / Deficit | $-48,042 |
| Total Assets | $622K |
| Total Liabilities | $574K |
| Net Assets | $49K |
| Operating Margin | -28.6% |
| Debt-to-Asset Ratio | 92.2% |
| Months of Reserves | 34.6 months |
Financial Health Grade: C
In 2023, Velva Rental Housing Inc reported a deficit of $48K with expenses exceeding revenue, holds 34.6 months of operating reserves (strong position), has a debt-to-asset ratio of 92.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Velva Rental Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.2% | +3.8% | -7.1% |
| 2022 | -0.4% | +1.3% | -6.7% |
| 2021 | -18.8% | +3.7% | -9.0% |
| 2020 | +17.6% | -1.9% | -3.7% |
| 2019 | -7.6% | -8.8% | -7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1976 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Velva Rental Housing Inc 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 Velva Rental Housing Inc 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 deficit of $48K, with expenses exceeding revenue.
- Debt-to-asset ratio: 92.2%.
Frequently Asked Questions about Velva Rental Housing Inc
Is Velva Rental Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Velva Rental Housing Inc (EIN: 450333793) insufficient data. 0 red flags identified, 0 strengths noted.
How does Velva Rental Housing Inc spend its money?
Detailed spending breakdown data is not yet available for Velva Rental Housing Inc. Check back for updated IRS 990 analysis.
Are donations to Velva Rental Housing Inc tax-deductible?
Velva Rental Housing Inc is registered as a tax-exempt nonprofit (EIN: 450333793). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Velva Rental Housing Inc located?
Velva Rental Housing Inc is headquartered in Velva, North Dakota and files with the IRS under EIN 450333793.
How many years of IRS 990 filings does Velva Rental Housing Inc have?
Velva Rental Housing Inc 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 $192K in total revenue.
Filing History
IRS 990 filing history for Velva Rental Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Velva Rental Housing Inc's revenue has grown by 16.2%, moving from $145K to $168K. Total assets increased by 8.2% over the same period, from $575K to $622K. Total functional expenses rose by 60.2%, from $135K to $216K. In its most recent filing year (2023), Velva Rental Housing Inc reported a deficit of $48K, with expenses exceeding revenue. The organization holds $574K in liabilities against $622K in assets (debt-to-asset ratio: 92.2%), resulting in net assets of $49K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $168K | $216K | $622K | $574K | — | View 990 |
| 2022 | $157K | $208K | $670K | $571K | — | — |
| 2021 | $157K | $205K | $718K | $546K | — | — |
| 2020 | $194K | $198K | $789K | $569K | — | — |
| 2019 | $165K | $202K | $819K | $595K | — | View 990 |
| 2018 | $178K | $222K | $884K | $623K | — | View 990 |
| 2017 | $194K | $211K | $977K | $672K | — | View 990 |
| 2016 | $197K | $206K | $1.0M | $724K | — | View 990 |
| 2015 | $208K | $223K | $1.1M | $771K | — | View 990 |
| 2014 | $216K | $194K | $1.2M | $820K | — | View 990 |
| 2013 | $206K | $172K | $1.2M | $863K | — | View 990 |
| 2012 | $171K | $140K | $1.2M | $901K | — | View 990 |
| 2011 | $145K | $135K | $575K | $317K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $168K, expenses of $216K, and assets of $622K (revenue +7.2% year-over-year).
- 2022: Revenue of $157K, expenses of $208K, and assets of $670K (revenue -0.4% year-over-year).
- 2021: Revenue of $157K, expenses of $205K, and assets of $718K (revenue -18.8% year-over-year).
- 2020: Revenue of $194K, expenses of $198K, and assets of $789K (revenue +17.6% year-over-year).
- 2019: Revenue of $165K, expenses of $202K, and assets of $819K (revenue -7.6% year-over-year).
- 2018: Revenue of $178K, expenses of $222K, and assets of $884K (revenue -7.9% year-over-year).
- 2017: Revenue of $194K, expenses of $211K, and assets of $977K (revenue -1.8% year-over-year).
- 2016: Revenue of $197K, expenses of $206K, and assets of $1.0M (revenue -5.1% year-over-year).
- 2015: Revenue of $208K, expenses of $223K, and assets of $1.1M (revenue -3.9% year-over-year).
- 2014: Revenue of $216K, expenses of $194K, and assets of $1.2M (revenue +5.0% year-over-year).
- 2013: Revenue of $206K, expenses of $172K, and assets of $1.2M (revenue +20.6% year-over-year).
- 2012: Revenue of $171K, expenses of $140K, and assets of $1.2M (revenue +18.2% year-over-year).
- 2011: Revenue of $145K, expenses of $135K, and assets of $575K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Velva Rental Housing Inc:
Data Sources and Methodology
This transparency report for Velva Rental Housing 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.