Is Fdny Foundation Legit?

The FDNY Foundation demonstrates consistent financial activity, with revenues generally fluctuating around the $8-10 million mark over the past several years. In the most recent filing (202306), the organization reported revenues of $7,988,238 against expenses of $8,886,368, indicating a deficit for that period. However, this follows a surplus in the prior year (202206) where revenue was $10,547,733 and expenses were $8,888,521. The organization maintains a healthy asset base, growing from $11,524,481 in 2014 to $27,482,885 in 2023, suggesting good financial stewardship and reserves. Liabilities have remained manageable relative to assets, indicating a stable financial position. The FDNY Foundation appears to be efficient in its spending, as indicated by the consistent program focus (NTEE Code M112 suggests public safety, disaster preparedness, and relief). The absence of reported officer compensation across all filings is a significant positive indicator of transparency and dedication to mission, as it suggests that leadership is either unpaid or compensated through other means not classified as officer compensation on the 990, which is unusual for an organization of this size. This practice, if accurate, contributes to a higher proportion of funds being available for programmatic activities. Overall, the FDNY Foundation exhibits sound financial health with a strong asset base and a history of significant revenue generation. While there are occasional deficits, these appear to be managed within the context of overall financial stability and growth in assets. The lack of reported officer compensation is a notable aspect of its financial transparency and efficiency.