Wartburg Housing Development Fund Corporation
Wartburg Housing Development Fund Corporation consistently operates at a deficit, with liabilities exceeding assets in recent years.
EIN: 113051052 · Scarsdale, NY · NTEE: L80Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.7M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $-1,021,167 |
| Transparency Score | 70/100 |
Is Wartburg 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 →
Wartburg Housing Development Fund Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wartburg Housing Development Fund Corporation
Wartburg Housing Development Fund Corporation (EIN: 113051052) is a nonprofit organization based in Scarsdale, NY, classified under NTEE code L80Z. The organization reported total revenue of $1.7M and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wartburg Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wartburg Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-193,769 |
| Total Assets | $2.2M |
| Total Liabilities | $3.3M |
| Net Assets | $-1,021,167 |
| Operating Margin | -12.7% |
| Debt-to-Asset Ratio | 145.7% |
| Months of Reserves | 15.6 months |
Financial Health Grade: C
In 2023, Wartburg Housing Development Fund Corporation reported a deficit of $194K with expenses exceeding revenue, holds 15.6 months of operating reserves (strong position), has a debt-to-asset ratio of 145.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Wartburg Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.0% | +10.5% | -3.2% |
| 2022 | -8.0% | -0.3% | -1.6% |
| 2021 | -16.7% | +5.5% | -4.5% |
| 2020 | +26.6% | +4.8% | +8.4% |
| 2019 | +31.4% | +7.4% | -2.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Wartburg Housing Development Fund Corporation with a Mission Score of 70 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Wartburg Housing Development Fund Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $194K, with expenses exceeding revenue.
- Debt-to-asset ratio: 145.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation directly from the organization, which is highly favorable for a nonprofit of its size with annual revenues exceeding $1 million.
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 Wartburg Housing Development Fund Corporation's IRS 990 filings:
- Consistent operating deficits, with expenses exceeding revenue in most recent years (e.g., 2023, 2022, 2021, 2019, 2018, 2016, 2015, 2014).
- Liabilities consistently exceed assets, indicating a potentially precarious financial position (e.g., $3,256,297 liabilities vs. $2,235,130 assets in 2023).
- Declining asset base over the past several years, from $2,840,756 in 2016 to $2,235,130 in 2023.
Strengths
The following positive indicators were identified for Wartburg Housing Development Fund Corporation:
- Zero officer compensation reported across all filings, indicating excellent transparency and efficient use of funds for leadership.
- Consistent filing history over 13 periods, demonstrating commitment to regulatory compliance.
- Stable revenue generation, generally above $1 million annually, indicating ongoing operational capacity.
Frequently Asked Questions about Wartburg Housing Development Fund Corporation
Is Wartburg Housing Development Fund Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Wartburg Housing Development Fund Corporation (EIN: 113051052) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Wartburg Housing Development Fund Corporation spend its money?
Wartburg Housing Development Fund Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wartburg Housing Development Fund Corporation tax-deductible?
Wartburg Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 113051052). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Wartburg Housing Development Fund Corporation CEO make?
Wartburg Housing Development Fund Corporation's highest-compensated officer earns $1 annually. The organization reported $1.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Wartburg Housing Development Fund Corporation's spending goes to programs?
Wartburg Housing Development Fund Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Wartburg Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Wartburg Housing Development Fund Corporation is above average for NTEE category L80Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Wartburg Housing Development Fund Corporation located?
Wartburg Housing Development Fund Corporation is headquartered in Scarsdale, New York and files with the IRS under EIN 113051052. It is classified under NTEE code L80Z.
How many years of IRS 990 filings does Wartburg Housing Development Fund Corporation have?
Wartburg Housing Development Fund Corporation 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 $1.7M in total revenue.
How does Wartburg Housing Development Fund Corporation plan to address its consistent operating deficits?
The organization has reported expenses exceeding revenue in most recent years (e.g., $1,713,901 expenses vs. $1,520,132 revenue in 2023), leading to a negative net income. A strategy to balance the budget or increase revenue streams would be beneficial.
What is the nature of the organization's significant liabilities, which often exceed its assets?
Liabilities have consistently been higher than assets (e.g., $3,256,297 liabilities vs. $2,235,130 assets in 2023). Understanding the composition of these liabilities (e.g., mortgages, program-related debt) is crucial for assessing long-term financial stability.
What specific programs does Wartburg Housing Development Fund Corporation operate to fulfill its mission?
While the NTEE code L80Z suggests housing development, the filings do not detail specific program expenditures, making it difficult to assess the direct impact of its spending.
Filing History
IRS 990 filing history for Wartburg Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wartburg Housing Development Fund Corporation's revenue has grown by 105.2%, moving from $741K to $1.5M. Total assets decreased by 27.4% over the same period, from $3.1M to $2.2M. Total functional expenses rose by 60%, from $1.1M to $1.7M. In its most recent filing year (2023), Wartburg Housing Development Fund Corporation reported a deficit of $194K, with expenses exceeding revenue. The organization holds $3.3M in liabilities against $2.2M in assets (debt-to-asset ratio: 145.7%), resulting in net assets of $-1,021,167.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $1.7M | $2.2M | $3.3M | — | — |
| 2022 | $1.4M | $1.6M | $2.3M | $3.1M | — | — |
| 2021 | $1.5M | $1.6M | $2.3M | $3.0M | — | View 990 |
| 2020 | $1.8M | $1.5M | $2.5M | $3.0M | — | View 990 |
| 2019 | $1.4M | $1.4M | $2.3M | $3.1M | — | View 990 |
| 2018 | $1.1M | $1.3M | $2.3M | $3.2M | — | View 990 |
| 2017 | $1.3M | $1.2M | $2.5M | $3.3M | — | View 990 |
| 2016 | $1.0M | $1.2M | $2.8M | $3.8M | — | View 990 |
| 2015 | $1.1M | $1.2M | $2.6M | $3.6M | — | View 990 |
| 2014 | $1.1M | $1.3M | $2.5M | $3.6M | — | View 990 |
| 2013 | $1.0M | $1.3M | $2.7M | $3.8M | — | View 990 |
| 2012 | $1.1M | $1.0M | $2.9M | $4.0M | — | View 990 |
| 2011 | $741K | $1.1M | $3.1M | $4.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $1.7M, and assets of $2.2M (revenue +12.0% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.6M, and assets of $2.3M (revenue -8.0% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.6M, and assets of $2.3M (revenue -16.7% year-over-year).
- 2020: Revenue of $1.8M, expenses of $1.5M, and assets of $2.5M (revenue +26.6% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.4M, and assets of $2.3M (revenue +31.4% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.3M, and assets of $2.3M (revenue -15.1% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.2M, and assets of $2.5M (revenue +20.6% year-over-year).
- 2016: Revenue of $1.0M, expenses of $1.2M, and assets of $2.8M (revenue -3.6% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.2M, and assets of $2.6M (revenue +1.0% year-over-year).
- 2014: Revenue of $1.1M, expenses of $1.3M, and assets of $2.5M (revenue +2.2% year-over-year).
- 2013: Revenue of $1.0M, expenses of $1.3M, and assets of $2.7M (revenue -2.1% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.0M, and assets of $2.9M (revenue +44.0% year-over-year).
- 2011: Revenue of $741K, expenses of $1.1M, and assets of $3.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wartburg Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Wartburg 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.