Yarock Memorial Housing Inc
Yarock Memorial Housing Inc: Consistent Revenue, Declining Assets, and High Liabilities Raise Concerns
EIN: 222547039 · Worcester, MA · NTEE: L25 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $981K |
| Total Expenses | $1.2M |
| Program Spending | 75% |
| Net Assets | $3.4M |
| Transparency Score | 70/100 |
Is Yarock Memorial Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Yarock Memorial Housing Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Yarock Memorial Housing Inc
Yarock Memorial Housing Inc (EIN: 222547039) is a nonprofit organization based in Worcester, MA, classified under NTEE code L25. The organization reported total revenue of $981K and total assets of $4.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Yarock Memorial Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Yarock Memorial Housing Inc is a small nonprofit that has been operating for 21 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $961K |
| Total Expenses | $1.2M |
| Surplus / Deficit | $-259,647 |
| Total Assets | $4.3M |
| Total Liabilities | $840K |
| Net Assets | $3.4M |
| Operating Margin | -27.0% |
| Debt-to-Asset Ratio | 19.7% |
| Months of Reserves | 41.9 months |
Financial Health Grade: B
In 2023, Yarock Memorial Housing Inc reported a deficit of $260K with expenses exceeding revenue, holds 41.9 months of operating reserves (strong position), has a debt-to-asset ratio of 19.7% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), Yarock Memorial Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.0% | +52.4% | -16.1% |
| 2021 | +0.6% | -6.2% | -1.0% |
| 2020 | -19.8% | -4.2% | -4.7% |
| 2019 | -52.6% | -7.0% | +1.6% |
| 2018 | +114.5% | +4.0% | +6.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Yarock Memorial Housing 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Yarock Memorial Housing Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $260K, with expenses exceeding revenue.
- Debt-to-asset ratio: 19.7%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, with 'c0%' reported across all years, making a specific assessment of individual compensation impossible.
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 Yarock Memorial Housing Inc's IRS 990 filings:
- Consistent decline in total assets from $5,384,813 in 2019 to $4,262,719 in 2023.
- Liabilities remain high, representing approximately 20% of assets in 2023 ($839,861 liabilities vs. $4,262,719 assets).
- Expenses ($1,220,165 in 2023) consistently exceed revenue ($960,518 in 2023) in recent years, indicating potential financial instability.
Strengths
The following positive indicators were identified for Yarock Memorial Housing Inc:
- Maintains a consistent revenue stream, generally around $900,000 - $1,200,000 annually.
- Long operational history with filings dating back to 2015, suggesting established presence.
- Relatively stable expense levels over the years, indicating predictable operational costs.
Frequently Asked Questions about Yarock Memorial Housing Inc
Is Yarock Memorial Housing Inc a legitimate charity?
Yarock Memorial Housing Inc (EIN: 222547039) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 70/100. It has 12 years of IRS 990 filings on record. Total revenue: $981K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Yarock Memorial Housing Inc spend its money?
Yarock Memorial Housing Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Yarock Memorial Housing Inc tax-deductible?
Yarock Memorial Housing Inc is registered as a tax-exempt nonprofit (EIN: 222547039). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Yarock Memorial Housing Inc's spending goes to programs?
Yarock Memorial Housing Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Yarock Memorial Housing Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Yarock Memorial Housing Inc is above average for NTEE category L25 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Yarock Memorial Housing Inc located?
Yarock Memorial Housing Inc is headquartered in Worcester, Massachusetts and files with the IRS under EIN 222547039. It is classified under NTEE code L25.
How many years of IRS 990 filings does Yarock Memorial Housing Inc have?
Yarock Memorial Housing 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 $981K in total revenue.
What does Yarock Memorial Housing Inc do?
Yarock Memorial Housing Inc is a nonprofit organization in the Housing & Shelter sector, located in Worcester, Massachusetts. It is classified under NTEE code L25.
How much revenue does Yarock Memorial Housing Inc have?
Yarock Memorial Housing Inc reported total revenue of $980,993. Based on 12 IRS 990 filings on record.
What are Yarock Memorial Housing Inc's total assets?
Yarock Memorial Housing Inc holds total assets of $4,540,995 as reported in IRS 990 filings.
Where is Yarock Memorial Housing Inc located?
Yarock Memorial Housing Inc is based in Worcester, Massachusetts.
What is Yarock Memorial Housing Inc's EIN?
Yarock Memorial Housing Inc's Employer Identification Number (EIN) is 222547039. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Yarock Memorial Housing Inc?
Yarock Memorial Housing Inc is classified under NTEE code L25 (Housing & Shelter).
Is Yarock Memorial Housing Inc a registered 501(c)(3)?
Yes, Yarock Memorial Housing Inc is recognized as a tax-exempt organization by the IRS. EIN: 222547039.
Does Yarock Memorial Housing Inc file IRS Form 990?
Yes, Yarock Memorial Housing Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Yarock Memorial Housing Inc's revenue in 2023?
In the 202309 filing period, Yarock Memorial Housing Inc reported total revenue of $960,518, total expenses of $1,220,165, and net assets of $4,262,719.
Is Yarock Memorial Housing Inc's revenue growing or declining?
Yarock Memorial Housing Inc's revenue is relatively stable. Revenue went from $970,124 (202109) to $960,518 (202309), a -1.0% change. Based on 12 filings on record.
What is Yarock Memorial Housing Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Yarock Memorial Housing Inc covers tax period 202309. It shows revenue of $960,518, expenses of $1,220,165, total assets of $4,262,719, and liabilities of $839,861.
How much does Yarock Memorial Housing Inc spend on programs vs administration?
Based on IRS 990 analysis, Yarock Memorial Housing Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Yarock Memorial Housing Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Yarock Memorial Housing Inc appears trustworthy. Mission Score: 70/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Yarock Memorial Housing Inc?
The following concerns were identified: Consistent decline in total assets from $5,384,813 in 2019 to $4,262,719 in 2023.. Liabilities remain high, representing approximately 20% of assets in 2023 ($839,861 liabilities vs. $4,262,719 assets).. Expenses ($1,220,165 in 2023) consistently exceed revenue ($960,518 in 2023) in recent years, indicating potential financial instability.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Yarock Memorial Housing Inc's strengths?
Positive indicators for Yarock Memorial Housing Inc include: Maintains a consistent revenue stream, generally around $900,000 - $1,200,000 annually.. Long operational history with filings dating back to 2015, suggesting established presence.. Relatively stable expense levels over the years, indicating predictable operational costs.. These findings are derived from AI analysis of the organization's financial filings.
How does Yarock Memorial Housing Inc compensate executives?
Executive compensation is not explicitly detailed in the provided filings, with 'c0%' reported across all years, making a specific assessment of individual compensation impossible. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent 'c0%' for compensation in all filings, how does Yarock Memorial Housing Inc manage its executive leadership and what are the actual costs associated with it?
The 'c0%' reported for compensation suggests either that executive compensation is not reported in this specific field, or that executives are unpaid volunteers. Further investigation into their Form 990 would be necessary to understand the true compensation structure and costs.
What is driving the consistent decline in total assets from $5,384,813 in 2019 to $4,262,719 in 2023, and what impact does this have on the organization's long-term sustainability?
The decline in assets could be due to depreciation of property, sale of assets, or significant operational losses. This trend, especially when combined with expenses exceeding revenue, could impair the organization's ability to maintain or expand its housing programs and long-term financial health.
Filing History
IRS 990 filing history for Yarock Memorial Housing Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Yarock Memorial Housing Inc's revenue has grown by 53.9%, moving from $624K to $961K. Total assets increased by 25.1% over the same period, from $3.4M to $4.3M. Total functional expenses rose by 137.2%, from $514K to $1.2M. In its most recent filing year (2023), Yarock Memorial Housing Inc reported a deficit of $260K, with expenses exceeding revenue. The organization holds $840K in liabilities against $4.3M in assets (debt-to-asset ratio: 19.7%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $961K | $1.2M | $4.3M | $840K | — | View 990 |
| 2021 | $970K | $801K | $5.1M | $1.4M | — | View 990 |
| 2020 | $965K | $853K | $5.1M | $1.6M | — | — |
| 2019 | $1.2M | $891K | $5.4M | $1.9M | — | View 990 |
| 2018 | $2.5M | $958K | $5.3M | $2.2M | — | View 990 |
| 2017 | $1.2M | $921K | $5.0M | $2.7M | — | View 990 |
| 2016 | $1.1M | $921K | $5.0M | $2.9M | — | — |
| 2015 | $1.1M | $954K | $4.5M | $2.9M | — | — |
| 2014 | $1.1M | $918K | $4.7M | $2.9M | — | — |
| 2013 | $805K | $756K | $4.2M | $2.4M | — | — |
| 2012 | $708K | $535K | $3.9M | $2.2M | — | View 990 |
| 2011 | $624K | $514K | $3.4M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $961K, expenses of $1.2M, and assets of $4.3M (revenue -1.0% year-over-year).
- 2021: Revenue of $970K, expenses of $801K, and assets of $5.1M (revenue +0.6% year-over-year).
- 2020: Revenue of $965K, expenses of $853K, and assets of $5.1M (revenue -19.8% year-over-year).
- 2019: Revenue of $1.2M, expenses of $891K, and assets of $5.4M (revenue -52.6% year-over-year).
- 2018: Revenue of $2.5M, expenses of $958K, and assets of $5.3M (revenue +114.5% year-over-year).
- 2017: Revenue of $1.2M, expenses of $921K, and assets of $5.0M (revenue +7.6% year-over-year).
- 2016: Revenue of $1.1M, expenses of $921K, and assets of $5.0M (revenue +4.4% year-over-year).
- 2015: Revenue of $1.1M, expenses of $954K, and assets of $4.5M (revenue -5.0% year-over-year).
- 2014: Revenue of $1.1M, expenses of $918K, and assets of $4.7M (revenue +37.7% year-over-year).
- 2013: Revenue of $805K, expenses of $756K, and assets of $4.2M (revenue +13.8% year-over-year).
- 2012: Revenue of $708K, expenses of $535K, and assets of $3.9M (revenue +13.4% year-over-year).
- 2011: Revenue of $624K, expenses of $514K, and assets of $3.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Yarock Memorial Housing Inc:
Data Sources and Methodology
This transparency report for Yarock Memorial Housing 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.