Village East Retirement Communityinc
Village East Retirement Community Inc. consistently operates at a significant deficit with declining assets and high liabilities.
EIN: 204339421 · San Angelo, TX · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $983K |
| Total Expenses | $1.4M |
| Program Spending | 80% |
| Net Assets | $-2,918,698 |
| Transparency Score | 45/100 |
Is Village East Retirement Communityinc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Village East Retirement Communityinc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Village East Retirement Communityinc
Village East Retirement Communityinc (EIN: 204339421) is a nonprofit organization based in San Angelo, TX, classified under NTEE code L22. The organization reported total revenue of $983K and total assets of $8.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Village East Retirement Communityinc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Village East Retirement Communityinc 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 3.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $833K |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-578,019 |
| Total Assets | $9.4M |
| Total Liabilities | $12.3M |
| Net Assets | $-2,918,698 |
| Operating Margin | -69.4% |
| Debt-to-Asset Ratio | 131.1% |
| Months of Reserves | 79.7 months |
Financial Health Grade: C
In 2023, Village East Retirement Communityinc reported a deficit of $578K with expenses exceeding revenue, holds 79.7 months of operating reserves (strong position), has a debt-to-asset ratio of 131.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Village East Retirement Communityinc's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.5% | +11.8% | -4.0% |
| 2022 | +1.7% | +17.0% | -4.5% |
| 2021 | +41.6% | +7.0% | +0.0% |
| 2020 | -6.6% | +2.3% | -3.4% |
| 2019 | -8.7% | -5.9% | -2.5% |
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 East Retirement Communityinc with a Mission Score of 45 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 East Retirement Communityinc 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 $578K, with expenses exceeding revenue.
- Debt-to-asset ratio: 131.1%.
Executive Compensation Analysis
Officer compensation is consistently reported as 0% across all available filings, suggesting either a volunteer executive leadership or that executive salaries are categorized under other expense lines, which would require further investigation for full transparency.
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 East Retirement Communityinc's IRS 990 filings:
- Consistent and significant operational deficits across all reported periods.
- Declining asset base over the past decade (from $11.3M in 2015 to $9.3M in 2023).
- Liabilities consistently exceed assets, indicating a negative net asset position.
- High liabilities relative to revenue, suggesting a heavy debt burden or significant long-term obligations.
Strengths
The following positive indicators were identified for Village East Retirement Communityinc:
- Consistent filing of IRS 990 forms (13 filings), indicating a commitment to regulatory transparency.
- No reported officer compensation, which could indicate a volunteer-driven executive structure, potentially reducing administrative overhead.
Frequently Asked Questions about Village East Retirement Communityinc
Is Village East Retirement Communityinc a legitimate charity?
Village East Retirement Communityinc (EIN: 204339421) is a registered tax-exempt nonprofit based in Texas. Our AI analysis gives it a Mission Score of 45/100. It has 13 years of IRS 990 filings on record. Total revenue: $983K. 4 red flags identified. 2 strengths noted. Financial health grade: C.
How does Village East Retirement Communityinc spend its money?
Village East Retirement Communityinc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Village East Retirement Communityinc tax-deductible?
Village East Retirement Communityinc is registered as a tax-exempt nonprofit (EIN: 204339421). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Village East Retirement Communityinc's spending goes to programs?
Village East Retirement Communityinc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Village East Retirement Communityinc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Village East Retirement Communityinc is near average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Village East Retirement Communityinc located?
Village East Retirement Communityinc is headquartered in San Angelo, Texas and files with the IRS under EIN 204339421. It is classified under NTEE code L22.
How many years of IRS 990 filings does Village East Retirement Communityinc have?
Village East Retirement Communityinc 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 $983K in total revenue.
Is Village East Retirement Community Inc. financially sustainable?
Based on the consistent and significant operational deficits, with expenses exceeding revenue in every reported period, the organization's financial sustainability is highly questionable. For example, in 202306, expenses were $1,411,034 against revenues of $833,015.
Why are liabilities consistently higher than assets?
The organization's liabilities have consistently exceeded its assets, reaching $12,290,434 in liabilities against $9,371,736 in assets in 202306. This indicates a negative net asset position, suggesting significant long-term debt or obligations relative to its holdings.
What is causing the consistent decline in assets?
Assets have steadily declined from $11,334,574 in 201506 to $9,371,736 in 202306. This decline, coupled with persistent operational losses, suggests that the organization may be liquidating assets or not generating sufficient revenue to maintain its asset base.
How does the organization cover its operational deficits?
With expenses consistently exceeding revenue (e.g., $1,411,034 expenses vs. $833,015 revenue in 202306), the organization must be covering these deficits through drawing down reserves, incurring more debt, or potentially through non-operating income not detailed in the provided revenue figures, which is not sustainable long-term.
Filing History
IRS 990 filing history for Village East Retirement Communityinc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Village East Retirement Communityinc's revenue has grown by 51.7%, moving from $549K to $833K. Total assets increased by 2% over the same period, from $9.2M to $9.4M. Total functional expenses rose by 119%, from $644K to $1.4M. In its most recent filing year (2023), Village East Retirement Communityinc reported a deficit of $578K, with expenses exceeding revenue. The organization holds $12.3M in liabilities against $9.4M in assets (debt-to-asset ratio: 131.1%), resulting in net assets of $-2,918,698.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $833K | $1.4M | $9.4M | $12.3M | — | View 990 |
| 2022 | $863K | $1.3M | $9.8M | $12.1M | — | View 990 |
| 2021 | $848K | $1.1M | $10.2M | $12.0M | — | View 990 |
| 2020 | $599K | $1.0M | $10.2M | $11.9M | — | View 990 |
| 2019 | $641K | $985K | $10.6M | $11.8M | — | View 990 |
| 2018 | $702K | $1.0M | $10.8M | $11.8M | — | View 990 |
| 2017 | $678K | $946K | $10.9M | $11.9M | — | View 990 |
| 2016 | $702K | $831K | $11.3M | $11.9M | — | View 990 |
| 2015 | $643K | $806K | $11.3M | $11.8M | — | View 990 |
| 2014 | $674K | $858K | $11.2M | $11.5M | — | View 990 |
| 2013 | $568K | $772K | $10.3M | $10.5M | — | View 990 |
| 2012 | $711K | $665K | $9.7M | $9.6M | — | View 990 |
| 2011 | $549K | $644K | $9.2M | $9.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $833K, expenses of $1.4M, and assets of $9.4M (revenue -3.5% year-over-year).
- 2022: Revenue of $863K, expenses of $1.3M, and assets of $9.8M (revenue +1.7% year-over-year).
- 2021: Revenue of $848K, expenses of $1.1M, and assets of $10.2M (revenue +41.6% year-over-year).
- 2020: Revenue of $599K, expenses of $1.0M, and assets of $10.2M (revenue -6.6% year-over-year).
- 2019: Revenue of $641K, expenses of $985K, and assets of $10.6M (revenue -8.7% year-over-year).
- 2018: Revenue of $702K, expenses of $1.0M, and assets of $10.8M (revenue +3.7% year-over-year).
- 2017: Revenue of $678K, expenses of $946K, and assets of $10.9M (revenue -3.4% year-over-year).
- 2016: Revenue of $702K, expenses of $831K, and assets of $11.3M (revenue +9.2% year-over-year).
- 2015: Revenue of $643K, expenses of $806K, and assets of $11.3M (revenue -4.6% year-over-year).
- 2014: Revenue of $674K, expenses of $858K, and assets of $11.2M (revenue +18.6% year-over-year).
- 2013: Revenue of $568K, expenses of $772K, and assets of $10.3M (revenue -20.0% year-over-year).
- 2012: Revenue of $711K, expenses of $665K, and assets of $9.7M (revenue +29.4% year-over-year).
- 2011: Revenue of $549K, expenses of $644K, and assets of $9.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Village East Retirement Communityinc:
Data Sources and Methodology
This transparency report for Village East Retirement Communityinc 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.