Webster Housing For The Elderly Inc

Is Webster Housing For The Elderly Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Webster Housing For The Elderly Inc directs 97% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Webster Housing For The Elderly Inc

Webster Housing For The Elderly Inc (EIN: 222827292) is a nonprofit organization based in Worcester, MA, classified under NTEE code L21Z. The organization reported total revenue of $972K and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Webster Housing For The Elderly Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Webster Housing For The Elderly Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.4%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Webster Housing For The Elderly Inc reported a surplus of $27K with revenue exceeding expenses, holds 24.0 months of operating reserves (strong position), has a debt-to-asset ratio of 173.4% (high leverage).

Financial Trends

Over 13 years of filings (2011–2023), Webster Housing For The Elderly Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.

IRS Tax-Exempt Classification

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 Webster Housing For The Elderly Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 3%
• programs: 97%
• fundraising: 0%

According to IRS 990 filings, Webster Housing For The Elderly Inc allocates its expenses as follows: admin: 3%, programs: 97%, fundraising: 0%. With 97% 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 surplus of $27K, with revenue exceeding expenses.
• Debt-to-asset ratio: 173.4%.

Executive Compensation Analysis

Executive compensation is not reported in the provided data, with all filings indicating 0% compensation for officers, directors, trustees, and key employees, suggesting a volunteer-driven leadership or very minimal paid staff not captured in this metric.

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 Webster Housing For The Elderly Inc's IRS 990 filings:

• Consistent decline in total assets over the past 7 years, from $2,274,578 in 2016 to $1,805,579 in 2023, which could impact long-term sustainability.
• Lack of detailed information on how the organization manages its declining assets and what strategies are in place to reverse this trend.

Strengths

The following positive indicators were identified for Webster Housing For The Elderly Inc:

• Very high percentage of spending directly on programs (97%), indicating efficient use of funds for its mission.
• Consistent revenue generation over the past several years, demonstrating stable operational funding.
• Low administrative and fundraising costs (3% and 0% respectively), maximizing resources for direct services.
• No reported executive compensation, suggesting a highly dedicated, potentially volunteer-based leadership.

Frequently Asked Questions about Webster Housing For The Elderly Inc

Filing History

IRS 990 filing history for Webster Housing For The Elderly Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Webster Housing For The Elderly Inc's revenue has grown by 18.4%, moving from $786K to $930K. Total assets decreased by 36% over the same period, from $2.8M to $1.8M. Total functional expenses rose by 13.1%, from $798K to $903K. In its most recent filing year (2023), Webster Housing For The Elderly Inc reported a surplus of $27K, with revenue exceeding expenses. The organization holds $3.1M in liabilities against $1.8M in assets (debt-to-asset ratio: 173.4%), resulting in net assets of $-1,326,188.

Year-by-Year Financial Summary

• 2023: Revenue of $930K, expenses of $903K, and assets of $1.8M (revenue +4.9% year-over-year).
• 2022: Revenue of $887K, expenses of $832K, and assets of $1.9M (revenue +0.5% year-over-year).
• 2021: Revenue of $882K, expenses of $828K, and assets of $2.0M (revenue +2.1% year-over-year).
• 2020: Revenue of $864K, expenses of $851K, and assets of $2.0M (revenue +1.5% year-over-year).
• 2019: Revenue of $851K, expenses of $826K, and assets of $2.1M (revenue +1.3% year-over-year).
• 2018: Revenue of $840K, expenses of $819K, and assets of $2.2M (revenue +2.2% year-over-year).
• 2017: Revenue of $822K, expenses of $806K, and assets of $2.2M (revenue +0.1% year-over-year).
• 2016: Revenue of $821K, expenses of $799K, and assets of $2.3M (revenue +5.2% year-over-year).
• 2015: Revenue of $780K, expenses of $883K, and assets of $2.4M (revenue -2.1% year-over-year).
• 2014: Revenue of $797K, expenses of $897K, and assets of $2.5M (revenue +0.8% year-over-year).
• 2013: Revenue of $791K, expenses of $880K, and assets of $2.6M (revenue +3.0% year-over-year).
• 2012: Revenue of $767K, expenses of $791K, and assets of $2.7M (revenue -2.3% year-over-year).
• 2011: Revenue of $786K, expenses of $798K, and assets of $2.8M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Webster Housing For The Elderly Inc:

Data Sources and Methodology

This transparency report for Webster Housing For The Elderly 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.