Victory One Housing Development Fund Corporation
Victory One Housing Development Fund Corporation consistently operates at a deficit with liabilities significantly exceeding assets.
EIN: 113755386 · Bronx, NY · NTEE: L200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.4M |
| Total Expenses | $2.2M |
| Program Spending | 80% |
| Net Assets | $-8,534,922 |
| Transparency Score | 55/100 |
Is Victory One Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Victory One Housing Development Fund Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Victory One Housing Development Fund Corporation
Victory One Housing Development Fund Corporation (EIN: 113755386) is a nonprofit organization based in Bronx, NY, classified under NTEE code L200. The organization reported total revenue of $2.4M and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Victory One Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Victory One Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 31 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-222,874 |
| Total Assets | $3.5M |
| Total Liabilities | $12.1M |
| Net Assets | $-8,534,922 |
| Operating Margin | -11.5% |
| Debt-to-Asset Ratio | 341.3% |
| Months of Reserves | 19.7 months |
Financial Health Grade: C
In 2023, Victory One Housing Development Fund Corporation reported a deficit of $223K with expenses exceeding revenue, holds 19.7 months of operating reserves (strong position), has a debt-to-asset ratio of 341.3% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Victory One Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +39.0% | +4.6% | +4.8% |
| 2022 | -1.8% | +2.6% | -12.5% |
| 2021 | +7.4% | +12.5% | -15.5% |
| 2020 | -50.0% | -19.8% | -5.0% |
| 2019 | +119.0% | +29.7% | +3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Victory One Housing Development Fund Corporation with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Victory One Housing Development Fund Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $223K, with expenses exceeding revenue.
- Debt-to-asset ratio: 341.3%.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that no officers or key employees receive compensation directly from the organization, which is highly unusual for an organization of its size and operational scope.
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 Victory One Housing Development Fund Corporation's IRS 990 filings:
- Consistent operational deficits (e.g., 2023: $1,933,554 revenue vs. $2,156,428 expenses).
- High liabilities relative to assets (e.g., 2023: $12,072,488 liabilities vs. $3,537,566 assets).
- Declining asset base over time (from $6,049,184 in 2014 to $3,537,566 in 2023).
- Unusual 0% officer compensation for an organization of this size.
Strengths
The following positive indicators were identified for Victory One Housing Development Fund Corporation:
- No reported officer compensation, indicating resources are not used for executive salaries.
- Long filing history (14 filings) suggests consistent operation, despite financial challenges.
Frequently Asked Questions about Victory One Housing Development Fund Corporation
Is Victory One Housing Development Fund Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Victory One Housing Development Fund Corporation (EIN: 113755386) some concerns. Mission Score: 55/100. 4 red flags identified, 2 strengths noted.
How does Victory One Housing Development Fund Corporation spend its money?
Victory One Housing Development Fund Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Victory One Housing Development Fund Corporation tax-deductible?
Victory One Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 113755386). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Victory One Housing Development Fund Corporation's spending goes to programs?
Victory One Housing Development Fund Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Victory One Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Victory One Housing Development Fund Corporation is near average for NTEE category L200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Victory One Housing Development Fund Corporation located?
Victory One Housing Development Fund Corporation is headquartered in Bronx, New York and files with the IRS under EIN 113755386. It is classified under NTEE code L200.
How many years of IRS 990 filings does Victory One Housing Development Fund Corporation have?
Victory One Housing Development Fund Corporation 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 $2.4M in total revenue.
How does Victory One Housing Development Fund Corporation cover its consistent operational deficits?
The organization consistently reports expenses exceeding revenue, for example, $2,156,428 in expenses vs. $1,933,554 in revenue in 2023. This suggests they are either drawing down on existing assets or increasing liabilities to cover operational costs.
What is the long-term plan for addressing the significant disparity between assets and liabilities?
In 2023, liabilities were $12,072,488 while assets were $3,537,566. This substantial imbalance raises questions about the organization's financial solvency and long-term sustainability, especially given the NTEE code L200 (Housing Development).
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization with annual revenues exceeding $1 million. It could indicate that officers are compensated by a related entity or are purely volunteer.
Filing History
IRS 990 filing history for Victory One Housing Development Fund Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Victory One Housing Development Fund Corporation's revenue has grown by 59.8%, moving from $1.2M to $1.9M. Total assets decreased by 50.4% over the same period, from $7.1M to $3.5M. Total functional expenses rose by 52.4%, from $1.4M to $2.2M. In its most recent filing year (2023), Victory One Housing Development Fund Corporation reported a deficit of $223K, with expenses exceeding revenue. The organization holds $12.1M in liabilities against $3.5M in assets (debt-to-asset ratio: 341.3%), resulting in net assets of $-8,534,922.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $2.2M | $3.5M | $12.1M | — | — |
| 2022 | $1.4M | $2.1M | $3.4M | $11.7M | — | View 990 |
| 2021 | $1.4M | $2.0M | $3.9M | $11.5M | — | View 990 |
| 2020 | $1.3M | $1.8M | $4.6M | $11.6M | — | View 990 |
| 2019 | $2.6M | $2.2M | $4.8M | $11.4M | — | View 990 |
| 2018 | $1.2M | $1.7M | $4.6M | $11.6M | — | View 990 |
| 2017 | $1.2M | $1.6M | $4.9M | $11.4M | — | — |
| 2016 | $1.2M | $1.7M | $5.5M | $11.5M | — | View 990 |
| 2015 | $1.2M | $1.7M | $5.6M | $11.2M | — | View 990 |
| 2014 | $1.2M | $1.6M | $6.0M | $11.1M | — | View 990 |
| 2013 | $1.2M | $1.5M | $6.4M | $11.1M | — | View 990 |
| 2012 | $1.2M | $1.5M | $6.6M | $11.0M | — | View 990 |
| 2011 | $1.2M | $1.5M | $6.9M | $11.0M | — | View 990 |
| 2010 | $1.2M | $1.4M | $7.1M | $11.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $2.2M, and assets of $3.5M (revenue +39.0% year-over-year).
- 2022: Revenue of $1.4M, expenses of $2.1M, and assets of $3.4M (revenue -1.8% year-over-year).
- 2021: Revenue of $1.4M, expenses of $2.0M, and assets of $3.9M (revenue +7.4% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.8M, and assets of $4.6M (revenue -50.0% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.2M, and assets of $4.8M (revenue +119.0% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.7M, and assets of $4.6M (revenue +0.4% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.6M, and assets of $4.9M (revenue +0.0% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.7M, and assets of $5.5M (revenue +0.4% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.7M, and assets of $5.6M (revenue -1.4% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.6M, and assets of $6.0M (revenue -0.1% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.5M, and assets of $6.4M (revenue -0.7% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.5M, and assets of $6.6M (revenue +1.5% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.5M, and assets of $6.9M (revenue -0.8% year-over-year).
- 2010: Revenue of $1.2M, expenses of $1.4M, and assets of $7.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Victory One Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Victory One Housing Development Fund 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.