Village At Northgate Housing Inc
Village At Northgate Housing Inc. consistently operates at a deficit with declining assets and high liabilities.
EIN: 161754298 · Dunn, NC · NTEE: L22 · Updated: 2026-03-28
Is Village At Northgate Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Village At Northgate Housing Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Village At Northgate Housing Inc
Village At Northgate Housing Inc (EIN: 161754298) is a nonprofit organization based in Dunn, NC, classified under NTEE code L22. The organization reported total revenue of $302K and total assets of $2.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Village At Northgate Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Village At Northgate Housing Inc is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $285K |
| Total Expenses | $368K |
| Surplus / Deficit | $-82,411 |
| Total Assets | $2.7M |
| Total Liabilities | $4.2M |
| Net Assets | $-1,479,367 |
| Operating Margin | -28.9% |
| Debt-to-Asset Ratio | 153.9% |
| Months of Reserves | 89.6 months |
Financial Health Grade: C
In 2023, Village At Northgate Housing Inc reported a deficit of $82K with expenses exceeding revenue, holds 89.6 months of operating reserves (strong position), has a debt-to-asset ratio of 153.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Village At Northgate Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.4% | -2.6% | -2.3% |
| 2022 | +13.3% | +19.0% | -4.2% |
| 2021 | +10.6% | +15.2% | -2.6% |
| 2020 | +6.1% | -6.5% | -2.4% |
| 2019 | +1.8% | +8.5% | -2.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Village At Northgate Housing Inc 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, Village At Northgate Housing Inc 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 $82K, with expenses exceeding revenue.
- Debt-to-asset ratio: 153.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting a volunteer-led board or management structure, which can be a positive for minimizing overhead but requires understanding how leadership functions.
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 Village At Northgate Housing Inc's IRS 990 filings:
- Consistent operational deficits (e.g., $82,411 deficit in 2023).
- Declining asset base over the past decade (from $3.5M in 2014 to $2.7M in 2023).
- Liabilities significantly and consistently exceed assets (e.g., $4.2M liabilities vs. $2.7M assets in 2023).
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes efficiency assessment difficult.
Strengths
The following positive indicators were identified for Village At Northgate Housing Inc:
- Consistent IRS 990 filing history (13 filings), indicating good compliance.
- 0% reported officer compensation, potentially indicating efficient use of funds for leadership.
- Focus on housing (NTEE L22) suggests a clear mission.
Frequently Asked Questions about Village At Northgate Housing Inc
Is Village At Northgate Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Village At Northgate Housing Inc (EIN: 161754298) some concerns. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.
How does Village At Northgate Housing Inc spend its money?
Village At Northgate Housing Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Village At Northgate Housing Inc tax-deductible?
Village At Northgate Housing Inc is registered as a tax-exempt nonprofit (EIN: 161754298). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Village At Northgate Housing Inc. cover its consistent operational deficits?
The organization consistently reports expenses exceeding revenue (e.g., $367,577 expenses vs. $285,166 revenue in 2023). This suggests they either draw down on existing assets, receive non-operating income not reflected in 'revenue', or have other funding sources to cover the gap.
What is the nature of the high liabilities relative to assets?
Liabilities consistently exceed assets (e.g., $4,224,228 liabilities vs. $2,744,861 assets in 2023). This indicates a significant debt burden, likely related to property mortgages or other long-term financing typical for housing organizations, which needs to be understood in context of their mission.
What is the long-term plan for financial sustainability given declining assets?
Assets have steadily decreased from $3,548,384 in 2014 to $2,744,861 in 2023. This trend, combined with operational deficits, raises concerns about the organization's ability to sustain its operations and mission in the long run without a change in financial strategy.
How are the programs managed and funded without reported officer compensation?
The consistent 0% officer compensation suggests a volunteer-driven leadership or that management services are provided by an external entity, which could impact operational oversight and accountability.
Filing History
IRS 990 filing history for Village At Northgate Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Village At Northgate Housing Inc's revenue has grown by 100.3%, moving from $142K to $285K. Total assets decreased by 28.4% over the same period, from $3.8M to $2.7M. Total functional expenses rose by 54.4%, from $238K to $368K. In its most recent filing year (2023), Village At Northgate Housing Inc reported a deficit of $82K, with expenses exceeding revenue. The organization holds $4.2M in liabilities against $2.7M in assets (debt-to-asset ratio: 153.9%), resulting in net assets of $-1,479,367.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $285K | $368K | $2.7M | $4.2M | — | View 990 |
| 2022 | $263K | $377K | $2.8M | $4.2M | — | View 990 |
| 2021 | $232K | $317K | $2.9M | $4.2M | — | — |
| 2020 | $210K | $275K | $3.0M | $4.2M | — | View 990 |
| 2019 | $198K | $294K | $3.1M | $4.2M | — | View 990 |
| 2018 | $194K | $271K | $3.2M | $4.2M | — | View 990 |
| 2017 | $180K | $266K | $3.3M | $4.2M | — | View 990 |
| 2016 | $168K | $285K | $3.3M | $4.2M | — | View 990 |
| 2015 | $166K | $265K | $3.5M | $4.2M | — | View 990 |
| 2014 | $164K | $254K | $3.5M | $4.2M | — | View 990 |
| 2013 | $157K | $248K | $3.6M | $4.2M | — | View 990 |
| 2012 | $148K | $250K | $3.7M | $4.2M | — | View 990 |
| 2011 | $142K | $238K | $3.8M | $4.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $285K, expenses of $368K, and assets of $2.7M (revenue +8.4% year-over-year).
- 2022: Revenue of $263K, expenses of $377K, and assets of $2.8M (revenue +13.3% year-over-year).
- 2021: Revenue of $232K, expenses of $317K, and assets of $2.9M (revenue +10.6% year-over-year).
- 2020: Revenue of $210K, expenses of $275K, and assets of $3.0M (revenue +6.1% year-over-year).
- 2019: Revenue of $198K, expenses of $294K, and assets of $3.1M (revenue +1.8% year-over-year).
- 2018: Revenue of $194K, expenses of $271K, and assets of $3.2M (revenue +8.1% year-over-year).
- 2017: Revenue of $180K, expenses of $266K, and assets of $3.3M (revenue +7.1% year-over-year).
- 2016: Revenue of $168K, expenses of $285K, and assets of $3.3M (revenue +0.8% year-over-year).
- 2015: Revenue of $166K, expenses of $265K, and assets of $3.5M (revenue +1.5% year-over-year).
- 2014: Revenue of $164K, expenses of $254K, and assets of $3.5M (revenue +4.5% year-over-year).
- 2013: Revenue of $157K, expenses of $248K, and assets of $3.6M (revenue +6.2% year-over-year).
- 2012: Revenue of $148K, expenses of $250K, and assets of $3.7M (revenue +3.7% year-over-year).
- 2011: Revenue of $142K, expenses of $238K, and assets of $3.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Village At Northgate Housing Inc:
Data Sources and Methodology
This transparency report for Village At Northgate 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.