Is Central New York Technology Development Organization Inc Legit?

Quick charity verification for Central New York Technology Development Organization Inc (EIN: 161339956)

Verdict: Central New York Technology Development Organization Inc appears trustworthy

75/100Mission Score

$2.1MRevenue

$2.8MAssets

2Red Flags

4Strengths

Red Flags

Significant increase in liabilities in 202310 ($1,071,690) compared to previous years ($74,961 in 202210).
Recent period (202310) shows expenses ($1,729,193) slightly exceeding revenue ($1,679,426), indicating a minor operating deficit.

Strengths

Consistent reporting of 0% officer compensation across all available filings, indicating potential efficiency in executive pay or strong volunteer leadership.
Assets consistently exceed liabilities in most periods, demonstrating financial stability.
Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Expenses generally track revenue, suggesting responsible financial management over time.

Spending Breakdown

How Central New York Technology Development Organization Inc allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Central New York Technology Development Organization Inc

Is Central New York Technology Development Organization Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Central New York Technology Development Organization Inc (EIN: 161339956) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.

Is Central New York Technology Development Organization Inc a good charity to donate to?

Central New York Technology Development Organization Inc has a Mission Score of 75/100. Revenue: $2.1M. Assets: $2.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Central New York Technology Development Organization Inc?

The Employer Identification Number (EIN) for Central New York Technology Development Organization Inc is 161339956. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Central New York Technology Development Organization Inc spend its money?

Central New York Technology Development Organization Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Central New York Technology Development Organization Inc's tax-exempt status?

You can verify Central New York Technology Development Organization Inc's tax-exempt status using EIN 161339956 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Central New York Technology Development Organization Inc (CNYTDO) demonstrates a generally stable financial position, with assets consistently exceeding liabilities across most recent periods. For instance, in 202310, assets were $3,045,745 against liabilities of $1,071,690. The organization's revenue has fluctuated significantly over the past decade, peaking at $4,266,461 in 201810 and showing a recent decline to $1,679,426 in 202310. Despite these fluctuations, expenses have largely tracked revenue, indicating a commitment to spending within its means, though the 202310 period saw expenses ($1,729,193) slightly exceed revenue ($1,679,426), resulting in a minor deficit. The consistent reporting of 0% officer compensation across all available filings suggests strong financial transparency regarding executive pay, or that compensation is structured in a way that falls outside the 'officer compensation' category on the 990, which warrants further investigation.

Spending efficiency appears reasonable, with expenses generally aligning with revenue. The organization's mission, as implied by its name, likely involves technology development, which can have varying program-to-administrative cost ratios depending on the nature of the services provided. Without a detailed breakdown of program vs. administrative expenses from the filings, a precise efficiency assessment is challenging. However, the absence of reported officer compensation is a positive indicator for resource allocation, assuming other compensation categories are not excessively high. The significant increase in liabilities in 202310 to $1,071,690 from $74,961 in 202210 is a notable change that requires further scrutiny to understand its nature and impact on financial health.

Overall, CNYTDO appears to be a financially sound organization with a history of managing its resources effectively, despite revenue volatility. The consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to transparency. The primary area for deeper analysis would be the detailed breakdown of expenses to ascertain program efficiency and the reason behind the recent surge in liabilities.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.