Woolard Homes Inc
Woolard Homes Inc. consistently operates at a deficit, drawing down assets while maintaining high liabilities.
EIN: 200687580 · Frederick, MD · NTEE: F33 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $101K |
| Total Expenses | $140K |
| Program Spending | 70% |
| Net Assets | $-318,715 |
| Transparency Score | 55/100 |
Is Woolard Homes Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Woolard Homes Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Woolard Homes Inc
Woolard Homes Inc (EIN: 200687580) is a nonprofit organization based in Frederick, MD, classified under NTEE code F33. The organization reported total revenue of $101K and total assets of $934K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Woolard Homes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Woolard Homes Inc is a small nonprofit that has been operating for 22 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -1.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $82K |
| Total Expenses | $140K |
| Surplus / Deficit | $-58,045 |
| Total Assets | $965K |
| Total Liabilities | $1.3M |
| Net Assets | $-318,715 |
| Operating Margin | -70.6% |
| Debt-to-Asset Ratio | 133.0% |
| Months of Reserves | 82.5 months |
Financial Health Grade: C
In 2023, Woolard Homes Inc reported a deficit of $58K with expenses exceeding revenue, holds 82.5 months of operating reserves (strong position), has a debt-to-asset ratio of 133.0% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Woolard Homes Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.4% | +9.9% | -2.1% |
| 2022 | -5.9% | -0.6% | -2.8% |
| 2021 | -2.7% | +1.7% | -6.5% |
| 2020 | -0.2% | +7.7% | +0.7% |
| 2019 | +0.8% | -5.1% | -0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2004 |
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 Woolard Homes Inc with a Mission Score of 55 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Woolard Homes Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $58K, with expenses exceeding revenue.
- Debt-to-asset ratio: 133.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries or other compensation are paid to officers, which is a strong positive for minimizing administrative costs relative to the organization's size and revenue.
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 Woolard Homes Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue in all 10 reported periods)
- Declining asset base over the past decade (from $1.17M in 2014 to $0.96M in 2023)
- Liabilities consistently exceed assets, indicating a potentially precarious financial position
Strengths
The following positive indicators were identified for Woolard Homes Inc:
- Consistent IRS 990 filing history (12 filings)
- 0% officer compensation reported across all filings, indicating low executive overhead
- Long operational history (at least since 2014 based on filings)
Frequently Asked Questions about Woolard Homes Inc
Is Woolard Homes Inc a legitimate charity?
Woolard Homes Inc (EIN: 200687580) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 55/100. It has 12 years of IRS 990 filings on record. Total revenue: $101K. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Woolard Homes Inc spend its money?
Woolard Homes Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Woolard Homes Inc tax-deductible?
Woolard Homes Inc is registered as a tax-exempt nonprofit (EIN: 200687580). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Woolard Homes Inc's spending goes to programs?
Woolard Homes Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Woolard Homes Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Woolard Homes Inc is near average for NTEE category F33 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Woolard Homes Inc located?
Woolard Homes Inc is headquartered in Frederick, Maryland and files with the IRS under EIN 200687580. It is classified under NTEE code F33.
How many years of IRS 990 filings does Woolard Homes Inc have?
Woolard Homes 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 $101K in total revenue.
Is Woolard Homes Inc. financially sustainable?
Based on the consistent operational deficits (expenses exceeding revenue in all reported periods) and declining assets, the organization's long-term financial sustainability appears challenged if current trends continue without significant changes to revenue generation or expense management.
How does Woolard Homes Inc. cover its operational deficits?
The consistent deficits suggest the organization is likely covering its expenses by drawing down its assets, as evidenced by the decline from $1,177,671 in 2014 to $964,992 in 2023, or through other funding sources not categorized as revenue in the provided data.
What is the organization's primary source of revenue?
The provided data only shows total revenue, not its sources. Given the NTEE code F33 (Housing/Shelter), it's likely a mix of program service revenue, grants, or contributions, but specific details are not available.
Filing History
IRS 990 filing history for Woolard Homes Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Woolard Homes Inc's revenue has declined by 15.7%, moving from $98K to $82K. Total assets decreased by 21% over the same period, from $1.2M to $965K. Total functional expenses rose by 18.1%, from $119K to $140K. In its most recent filing year (2023), Woolard Homes Inc reported a deficit of $58K, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $965K in assets (debt-to-asset ratio: 133.0%), resulting in net assets of $-318,715.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $82K | $140K | $965K | $1.3M | — | — |
| 2022 | $98K | $128K | $986K | $1.2M | — | View 990 |
| 2021 | $105K | $128K | $1.0M | $1.2M | — | — |
| 2020 | $108K | $126K | $1.1M | $1.3M | — | View 990 |
| 2019 | $108K | $117K | $1.1M | $1.3M | — | View 990 |
| 2018 | $107K | $124K | $1.1M | $1.3M | — | View 990 |
| 2017 | $104K | $120K | $1.1M | $1.3M | — | View 990 |
| 2016 | $96K | $131K | $1.1M | $1.3M | — | View 990 |
| 2015 | $102K | $126K | $1.2M | $1.3M | — | View 990 |
| 2014 | $102K | $123K | $1.2M | $1.3M | — | View 990 |
| 2013 | $103K | $119K | $1.2M | $1.3M | — | View 990 |
| 2012 | $98K | $119K | $1.2M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $82K, expenses of $140K, and assets of $965K (revenue -16.4% year-over-year).
- 2022: Revenue of $98K, expenses of $128K, and assets of $986K (revenue -5.9% year-over-year).
- 2021: Revenue of $105K, expenses of $128K, and assets of $1.0M (revenue -2.7% year-over-year).
- 2020: Revenue of $108K, expenses of $126K, and assets of $1.1M (revenue -0.2% year-over-year).
- 2019: Revenue of $108K, expenses of $117K, and assets of $1.1M (revenue +0.8% year-over-year).
- 2018: Revenue of $107K, expenses of $124K, and assets of $1.1M (revenue +3.3% year-over-year).
- 2017: Revenue of $104K, expenses of $120K, and assets of $1.1M (revenue +7.8% year-over-year).
- 2016: Revenue of $96K, expenses of $131K, and assets of $1.1M (revenue -5.4% year-over-year).
- 2015: Revenue of $102K, expenses of $126K, and assets of $1.2M (revenue +0.1% year-over-year).
- 2014: Revenue of $102K, expenses of $123K, and assets of $1.2M (revenue -1.3% year-over-year).
- 2013: Revenue of $103K, expenses of $119K, and assets of $1.2M (revenue +5.4% year-over-year).
- 2012: Revenue of $98K, expenses of $119K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Woolard Homes Inc:
Data Sources and Methodology
This transparency report for Woolard Homes 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.