Worcester Community Housing Resources Inc
Worcester Community Housing Resources Inc: Stable Assets, Inconsistent Revenue
EIN: 222719744 · Worcester, MA · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $3.5M |
| Total Expenses | $2.9M |
| Program Spending | 70% |
| Net Assets | $21.6M |
| Transparency Score | 75/100 |
Is Worcester Community Housing Resources Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Worcester Community Housing Resources Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Worcester Community Housing Resources Inc
Worcester Community Housing Resources Inc (EIN: 222719744) is a nonprofit organization based in Worcester, MA. The organization reported total revenue of $3.5M and total assets of $26.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Worcester Community Housing Resources Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Worcester Community Housing Resources Inc is a mid-size nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -10.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$1.4M |
| Total Assets | $25.9M |
| Total Liabilities | $4.3M |
| Net Assets | $21.6M |
| Operating Margin | 32.3% |
| Debt-to-Asset Ratio | 16.5% |
| Months of Reserves | 108.3 months |
Financial Health Grade: A
In 2023, Worcester Community Housing Resources Inc reported a surplus of $1.4M with revenue exceeding expenses, holds 108.3 months of operating reserves (strong position), has a debt-to-asset ratio of 16.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Worcester Community Housing Resources Inc's revenue has declined at a compound annual growth rate (CAGR) of -10.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +126.7% | +25.3% | +6.8% |
| 2022 | -16.2% | +21.2% | -3.0% |
| 2021 | +7.6% | -7.7% | -2.4% |
| 2020 | +11.6% | -16.5% | -3.4% |
| 2019 | -3.6% | +42.6% | -1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Worcester Community Housing Resources Inc with a Mission Score of 75 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: 70%
- fundraising: 15%
According to IRS 990 filings, Worcester Community Housing Resources Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. 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 surplus of $1.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 16.5%.
Executive Compensation Analysis
Executive compensation cannot be assessed without specific data on salaries, as the provided financial data does not include this detail.
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 Worcester Community Housing Resources Inc's IRS 990 filings:
- Revenue volatility: Revenue jumped from $1,872,287 in 2022 to $4,245,225 in 2023, which could indicate reliance on large, potentially one-time grants or projects rather than stable, recurring income.
- Lack of detailed expense breakdown: Without a detailed breakdown of expenses beyond total expenses, it's difficult to fully assess the proportion of spending on programs versus administrative or fundraising costs.
Strengths
The following positive indicators were identified for Worcester Community Housing Resources Inc:
- Strong asset base: The organization maintains a robust asset base, consistently above $23 million, providing financial stability.
- Positive net income in recent years: In 2023, the organization reported revenue of $4,245,225 against expenses of $2,872,692, indicating a healthy surplus for the year.
- Consistent operational history: The provided data spans several years, showing a long-standing presence and operational history in the community.
Frequently Asked Questions about Worcester Community Housing Resources Inc
Is Worcester Community Housing Resources Inc a legitimate charity?
Worcester Community Housing Resources Inc (EIN: 222719744) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.5M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Worcester Community Housing Resources Inc spend its money?
Worcester Community Housing Resources Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Worcester Community Housing Resources Inc tax-deductible?
Worcester Community Housing Resources Inc is registered as a tax-exempt nonprofit (EIN: 222719744). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Worcester Community Housing Resources Inc's spending goes to programs?
Worcester Community Housing Resources Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Worcester Community Housing Resources Inc located?
Worcester Community Housing Resources Inc is headquartered in Worcester, Massachusetts and files with the IRS under EIN 222719744.
How many years of IRS 990 filings does Worcester Community Housing Resources Inc have?
Worcester Community Housing Resources Inc 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 $3.5M in total revenue.
What does Worcester Community Housing Resources Inc do?
Worcester Community Housing Resources Inc is a nonprofit organization in the Unknown sector, located in Worcester, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Worcester Community Housing Resources Inc have?
Worcester Community Housing Resources Inc reported total revenue of $3,457,345. Based on 13 IRS 990 filings on record.
What are Worcester Community Housing Resources Inc's total assets?
Worcester Community Housing Resources Inc holds total assets of $26,010,107 as reported in IRS 990 filings.
Where is Worcester Community Housing Resources Inc located?
Worcester Community Housing Resources Inc is based in Worcester, Massachusetts.
What is Worcester Community Housing Resources Inc's EIN?
Worcester Community Housing Resources Inc's Employer Identification Number (EIN) is 222719744. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Worcester Community Housing Resources Inc?
Worcester Community Housing Resources Inc is classified under NTEE code Unknown (Unknown).
Is Worcester Community Housing Resources Inc a registered 501(c)(3)?
Worcester Community Housing Resources Inc appears in IRS records (EIN: 222719744). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Worcester Community Housing Resources Inc file IRS Form 990?
Yes, Worcester Community Housing Resources Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Worcester Community Housing Resources Inc's revenue in 2023?
In the 202312 filing period, Worcester Community Housing Resources Inc reported total revenue of $4,245,225, total expenses of $2,872,692, and net assets of $25,920,232.
Is Worcester Community Housing Resources Inc's revenue growing or declining?
Worcester Community Housing Resources Inc's revenue is growing. Revenue went from $1,872,287 (202212) to $4,245,225 (202312), a +126.7% change. Based on 13 filings on record.
What is Worcester Community Housing Resources Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Worcester Community Housing Resources Inc covers tax period 202312. It shows revenue of $4,245,225, expenses of $2,872,692, total assets of $25,920,232, and liabilities of $4,273,899.
How much does Worcester Community Housing Resources Inc spend on programs vs administration?
Based on IRS 990 analysis, Worcester Community Housing Resources Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Worcester Community Housing Resources Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Worcester Community Housing Resources Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Worcester Community Housing Resources Inc?
The following concerns were identified: Revenue volatility: Revenue jumped from $1,872,287 in 2022 to $4,245,225 in 2023, which could indicate reliance on large, potentially one-time grants or projects rather than stable, recurring income.. Lack of detailed expense breakdown: Without a detailed breakdown of expenses beyond total expenses, it's difficult to fully assess the proportion of spending on programs versus administrative or fundraising costs.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Worcester Community Housing Resources Inc's strengths?
Positive indicators for Worcester Community Housing Resources Inc include: Strong asset base: The organization maintains a robust asset base, consistently above $23 million, providing financial stability.. Positive net income in recent years: In 2023, the organization reported revenue of $4,245,225 against expenses of $2,872,692, indicating a healthy surplus for the year.. Consistent operational history: The provided data spans several years, showing a long-standing presence and operational history in the community.. These findings are derived from AI analysis of the organization's financial filings.
How does Worcester Community Housing Resources Inc compensate executives?
Executive compensation cannot be assessed without specific data on salaries, as the provided financial data does not include this detail. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the significant increase in revenue from $1,872,287 in 2022 to $4,245,225 in 2023?
The provided data does not specify the exact sources, but such a substantial increase often points to a major grant, a successful capital campaign, or the completion of a large project that recognized significant revenue in that fiscal year.
Given the stable asset base, how does the organization manage its liabilities, which have fluctuated between $2.7 million and $5.7 million over the years?
The organization appears to manage its liabilities effectively relative to its assets. For example, in 2023, liabilities were $4,273,899 against assets of $25,920,232, indicating a healthy balance sheet. The fluctuations in liabilities could be tied to specific project financing or debt management strategies.
Filing History
IRS 990 filing history for Worcester Community Housing Resources Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Worcester Community Housing Resources Inc's revenue has declined by 74.1%, moving from $16.4M to $4.2M. Total assets increased by 9.4% over the same period, from $23.7M to $25.9M. Total functional expenses rose by 258.1%, from $802K to $2.9M. In its most recent filing year (2023), Worcester Community Housing Resources Inc reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $4.3M in liabilities against $25.9M in assets (debt-to-asset ratio: 16.5%), resulting in net assets of $21.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $2.9M | $25.9M | $4.3M | — | View 990 |
| 2022 | $1.9M | $2.3M | $24.3M | $4.0M | — | View 990 |
| 2021 | $2.2M | $1.9M | $25.0M | $4.3M | — | View 990 |
| 2020 | $2.1M | $2.1M | $25.6M | $4.8M | — | View 990 |
| 2019 | $1.9M | $2.5M | $26.5M | $5.7M | — | View 990 |
| 2018 | $1.9M | $1.7M | $27.0M | $5.6M | — | View 990 |
| 2017 | $1.7M | $1.6M | $23.5M | $3.2M | — | View 990 |
| 2016 | $1.9M | $1.5M | $22.8M | $2.7M | — | View 990 |
| 2015 | $1.7M | $1.4M | $22.7M | $3.0M | — | View 990 |
| 2014 | $1.6M | $1.5M | $23.1M | $3.6M | — | View 990 |
| 2013 | $1.7M | $1.3M | $23.7M | $4.3M | — | View 990 |
| 2012 | $3.5M | $1.5M | $24.8M | $6.1M | — | View 990 |
| 2011 | $16.4M | $802K | $23.7M | $6.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $2.9M, and assets of $25.9M (revenue +126.7% year-over-year).
- 2022: Revenue of $1.9M, expenses of $2.3M, and assets of $24.3M (revenue -16.2% year-over-year).
- 2021: Revenue of $2.2M, expenses of $1.9M, and assets of $25.0M (revenue +7.6% year-over-year).
- 2020: Revenue of $2.1M, expenses of $2.1M, and assets of $25.6M (revenue +11.6% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.5M, and assets of $26.5M (revenue -3.6% year-over-year).
- 2018: Revenue of $1.9M, expenses of $1.7M, and assets of $27.0M (revenue +10.8% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.6M, and assets of $23.5M (revenue -7.3% year-over-year).
- 2016: Revenue of $1.9M, expenses of $1.5M, and assets of $22.8M (revenue +10.0% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.4M, and assets of $22.7M (revenue +8.1% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.5M, and assets of $23.1M (revenue -5.7% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.3M, and assets of $23.7M (revenue -52.3% year-over-year).
- 2012: Revenue of $3.5M, expenses of $1.5M, and assets of $24.8M (revenue -78.6% year-over-year).
- 2011: Revenue of $16.4M, expenses of $802K, and assets of $23.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Worcester Community Housing Resources Inc:
Data Sources and Methodology
This transparency report for Worcester Community Housing Resources 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.