Virginia Michigan Housing Develop Ment Fund Company Inc
Virginia Michigan Housing Development Fund Company Inc: Stable Revenue, Declining Assets, and High Liabilities
EIN: 222325527 · Buffalo, NY · NTEE: L20Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.9M |
| Program Spending | 75% |
| Net Assets | $-1,724,174 |
| Transparency Score | 65/100 |
Is Virginia Michigan Housing Develop Ment Fund Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia Michigan Housing Develop Ment Fund Company Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Virginia Michigan Housing Develop Ment Fund Company Inc
Virginia Michigan Housing Develop Ment Fund Company Inc (EIN: 222325527) is a nonprofit organization based in Buffalo, NY, classified under NTEE code L20Z. The organization reported total revenue of $1.8M and total assets of $4.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Michigan Housing Develop Ment Fund Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Michigan Housing Develop Ment Fund Company Inc is a mid-size nonprofit that has been operating for 45 years, with 9 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of 0.2%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-131,210 |
| Total Assets | $4.2M |
| Total Liabilities | $5.9M |
| Net Assets | $-1,724,174 |
| Operating Margin | -7.5% |
| Debt-to-Asset Ratio | 140.9% |
| Months of Reserves | 26.9 months |
Financial Health Grade: C
In 2019, Virginia Michigan Housing Develop Ment Fund Company Inc reported a deficit of $131K with expenses exceeding revenue, holds 26.9 months of operating reserves (strong position), has a debt-to-asset ratio of 140.9% (high leverage).
Financial Trends
Over 9 years of filings (2011–2019), Virginia Michigan Housing Develop Ment Fund Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | -0.1% | +7.1% | -4.5% |
| 2018 | -1.6% | -1.2% | -2.1% |
| 2017 | +0.3% | -1.1% | -5.2% |
| 2016 | +9.3% | +1.3% | -2.6% |
| 2015 | -7.1% | +1.0% | -4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
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 Virginia Michigan Housing Develop Ment Fund Company Inc with a Mission Score of 65 out of 100 (Good). 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: 75%
- fundraising: 10%
According to IRS 990 filings, Virginia Michigan Housing Develop Ment Fund Company Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $131K, with expenses exceeding revenue.
- Debt-to-asset ratio: 140.9%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, with 'c0%' listed across all years, making a precise assessment impossible without further information.
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 Virginia Michigan Housing Develop Ment Fund Company Inc's IRS 990 filings:
- Total liabilities consistently exceed total assets (e.g., 2019: assets $4,217,019 vs. liabilities $5,941,193), indicating a potentially precarious financial position.
- Assets have shown a consistent decline over the years, from $5,270,890 in 2012 to $4,217,019 in 2019.
- The 'c0%' compensation disclosure across all years raises concerns about transparency regarding executive pay.
Strengths
The following positive indicators were identified for Virginia Michigan Housing Develop Ment Fund Company Inc:
- The organization has maintained a stable revenue stream, consistently around $1.7 million annually, demonstrating operational consistency.
- The organization has a long operating history, with data provided back to 2012, suggesting established operations.
Frequently Asked Questions about Virginia Michigan Housing Develop Ment Fund Company Inc
Is Virginia Michigan Housing Develop Ment Fund Company Inc a legitimate charity?
Virginia Michigan Housing Develop Ment Fund Company Inc (EIN: 222325527) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 9 years of IRS 990 filings on record. Total revenue: $1.8M. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Virginia Michigan Housing Develop Ment Fund Company Inc spend its money?
Virginia Michigan Housing Develop Ment Fund Company Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Virginia Michigan Housing Develop Ment Fund Company Inc tax-deductible?
Virginia Michigan Housing Develop Ment Fund Company Inc is registered as a tax-exempt nonprofit (EIN: 222325527). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Virginia Michigan Housing Develop Ment Fund Company Inc's spending goes to programs?
Virginia Michigan Housing Develop Ment Fund Company Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Virginia Michigan Housing Develop Ment Fund Company Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Virginia Michigan Housing Develop Ment Fund Company Inc is above average for NTEE category L20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Virginia Michigan Housing Develop Ment Fund Company Inc located?
Virginia Michigan Housing Develop Ment Fund Company Inc is headquartered in Buffalo, New York and files with the IRS under EIN 222325527. It is classified under NTEE code L20Z.
How many years of IRS 990 filings does Virginia Michigan Housing Develop Ment Fund Company Inc have?
Virginia Michigan Housing Develop Ment Fund Company Inc has 9 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 $1.8M in total revenue.
What does Virginia Michigan Housing Develop Ment Fund Company Inc do?
Virginia Michigan Housing Develop Ment Fund Company Inc is a nonprofit organization in the Housing & Shelter sector, located in Buffalo, New York. It is classified under NTEE code L20Z.
How much revenue does Virginia Michigan Housing Develop Ment Fund Company Inc have?
Virginia Michigan Housing Develop Ment Fund Company Inc reported total revenue of $1,750,876. Based on 9 IRS 990 filings on record.
What are Virginia Michigan Housing Develop Ment Fund Company Inc's total assets?
Virginia Michigan Housing Develop Ment Fund Company Inc holds total assets of $4,217,019 as reported in IRS 990 filings.
Where is Virginia Michigan Housing Develop Ment Fund Company Inc located?
Virginia Michigan Housing Develop Ment Fund Company Inc is based in Buffalo, New York.
What is Virginia Michigan Housing Develop Ment Fund Company Inc's EIN?
Virginia Michigan Housing Develop Ment Fund Company Inc's Employer Identification Number (EIN) is 222325527. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Virginia Michigan Housing Develop Ment Fund Company Inc?
Virginia Michigan Housing Develop Ment Fund Company Inc is classified under NTEE code L20Z (Housing & Shelter).
Is Virginia Michigan Housing Develop Ment Fund Company Inc a registered 501(c)(3)?
Yes, Virginia Michigan Housing Develop Ment Fund Company Inc is recognized as a tax-exempt organization by the IRS. EIN: 222325527.
Does Virginia Michigan Housing Develop Ment Fund Company Inc file IRS Form 990?
Yes, Virginia Michigan Housing Develop Ment Fund Company Inc has 9 IRS Form 990 filings on record. The most recent covers tax period 201906.
What was Virginia Michigan Housing Develop Ment Fund Company Inc's revenue in 2019?
In the 201906 filing period, Virginia Michigan Housing Develop Ment Fund Company Inc reported total revenue of $1,750,876, total expenses of $1,882,086, and net assets of $4,217,019.
Is Virginia Michigan Housing Develop Ment Fund Company Inc's revenue growing or declining?
Virginia Michigan Housing Develop Ment Fund Company Inc's revenue is relatively stable. Revenue went from $1,752,029 (201806) to $1,750,876 (201906), a -0.1% change. Based on 9 filings on record.
What is Virginia Michigan Housing Develop Ment Fund Company Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Virginia Michigan Housing Develop Ment Fund Company Inc covers tax period 201906. It shows revenue of $1,750,876, expenses of $1,882,086, total assets of $4,217,019, and liabilities of $5,941,193.
How much does Virginia Michigan Housing Develop Ment Fund Company Inc spend on programs vs administration?
Based on IRS 990 analysis, Virginia Michigan Housing Develop Ment Fund Company Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Virginia Michigan Housing Develop Ment Fund Company Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Virginia Michigan Housing Develop Ment Fund Company Inc shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Virginia Michigan Housing Develop Ment Fund Company Inc?
The following concerns were identified: Total liabilities consistently exceed total assets (e.g., 2019: assets $4,217,019 vs. liabilities $5,941,193), indicating a potentially precarious financial position.. Assets have shown a consistent decline over the years, from $5,270,890 in 2012 to $4,217,019 in 2019.. The 'c0%' compensation disclosure across all years raises concerns about transparency regarding executive pay.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Virginia Michigan Housing Develop Ment Fund Company Inc's strengths?
Positive indicators for Virginia Michigan Housing Develop Ment Fund Company Inc include: The organization has maintained a stable revenue stream, consistently around $1.7 million annually, demonstrating operational consistency.. The organization has a long operating history, with data provided back to 2012, suggesting established operations.. These findings are derived from AI analysis of the organization's financial filings.
How does Virginia Michigan Housing Develop Ment Fund Company Inc compensate executives?
Executive compensation is not explicitly detailed in the provided filings, with 'c0%' listed across all years, making a precise assessment impossible without further information. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent decline in assets and the high ratio of liabilities to assets, what is the long-term sustainability plan for the organization?
The consistent decline in assets from $5,270,890 in 2012 to $4,217,019 in 2019, coupled with liabilities consistently exceeding assets (e.g., $5,941,193 in liabilities vs. $4,217,019 in assets in 2019), suggests a need for a clear strategy to address asset depreciation and debt management to ensure long-term financial viability.
Filing History
IRS 990 filing history for Virginia Michigan Housing Develop Ment Fund Company Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), Virginia Michigan Housing Develop Ment Fund Company Inc's revenue has grown by 1.6%, moving from $1.7M to $1.8M. Total assets decreased by 22.6% over the same period, from $5.5M to $4.2M. Total functional expenses rose by 15%, from $1.6M to $1.9M. In its most recent filing year (2019), Virginia Michigan Housing Develop Ment Fund Company Inc reported a deficit of $131K, with expenses exceeding revenue. The organization holds $5.9M in liabilities against $4.2M in assets (debt-to-asset ratio: 140.9%), resulting in net assets of $-1,724,174.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $1.8M | $1.9M | $4.2M | $5.9M | — | View 990 |
| 2018 | $1.8M | $1.8M | $4.4M | $6.0M | — | View 990 |
| 2017 | $1.8M | $1.8M | $4.5M | $6.1M | — | View 990 |
| 2016 | $1.8M | $1.8M | $4.8M | $6.4M | — | View 990 |
| 2015 | $1.6M | $1.8M | $4.9M | $6.5M | — | View 990 |
| 2014 | $1.7M | $1.8M | $5.1M | $6.5M | — | View 990 |
| 2013 | $1.7M | $1.7M | $5.2M | $6.6M | — | View 990 |
| 2012 | $1.7M | $1.7M | $5.3M | $6.7M | — | View 990 |
| 2011 | $1.7M | $1.6M | $5.5M | $6.8M | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $1.8M, expenses of $1.9M, and assets of $4.2M (revenue -0.1% year-over-year).
- 2018: Revenue of $1.8M, expenses of $1.8M, and assets of $4.4M (revenue -1.6% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.8M, and assets of $4.5M (revenue +0.3% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.8M, and assets of $4.8M (revenue +9.3% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.8M, and assets of $4.9M (revenue -7.1% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.8M, and assets of $5.1M (revenue +4.1% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.7M, and assets of $5.2M (revenue -1.8% year-over-year).
- 2012: Revenue of $1.7M, expenses of $1.7M, and assets of $5.3M (revenue -0.7% year-over-year).
- 2011: Revenue of $1.7M, expenses of $1.6M, and assets of $5.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Virginia Michigan Housing Develop Ment Fund Company Inc:
Data Sources and Methodology
This transparency report for Virginia Michigan Housing Develop Ment Fund Company 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.