Is Financial Service Centers Of New York Inc A Trade Association Legit?

Quick charity verification for Financial Service Centers Of New York Inc A Trade Association (EIN: 136110520)

Verdict: Financial Service Centers Of New York Inc A Trade Association shows mixed signals

65/100Mission Score
$444KRevenue
$89KAssets
4Red Flags
3Strengths

Red Flags

Strengths

Spending Breakdown

How Financial Service Centers Of New York Inc A Trade Association allocates its funds across programs, administration, and fundraising.

70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Financial Service Centers Of New York Inc A Trade Association

Is Financial Service Centers Of New York Inc A Trade Association a legitimate charity?

Based on AI analysis of IRS 990 filings, Financial Service Centers Of New York Inc A Trade Association (EIN: 136110520) shows mixed signals. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.

Is Financial Service Centers Of New York Inc A Trade Association a good charity to donate to?

Financial Service Centers Of New York Inc A Trade Association has a Mission Score of 65/100. Revenue: $444K. Assets: $89K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Financial Service Centers Of New York Inc A Trade Association?

The Employer Identification Number (EIN) for Financial Service Centers Of New York Inc A Trade Association is 136110520. 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 Financial Service Centers Of New York Inc A Trade Association spend its money?

Financial Service Centers Of New York Inc A Trade Association allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Financial Service Centers Of New York Inc A Trade Association's tax-exempt status?

You can verify Financial Service Centers Of New York Inc A Trade Association's tax-exempt status using EIN 136110520 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

Financial Service Centers Of New York Inc A Trade Association exhibits fluctuating financial health over the past decade. While revenue has generally been on a downward trend from a peak of over $1 million in 2015-2017 to $591,202 in 2023, expenses have often exceeded revenue, particularly in recent years, leading to net losses. For instance, in 2023, expenses of $767,928 significantly outstripped revenue of $591,202, resulting in a deficit. The organization's assets have also seen a decline from a high of $515,397 in 2015 to $132,027 in 2023, while liabilities have reappeared, reaching $200,000 in 2023 after several years of reporting zero. This indicates a potential strain on financial stability and a reliance on debt or deferred payments. Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent reporting of 0% officer compensation across all available filings suggests a lean approach to executive pay, which is a positive indicator for resource allocation. The organization's primary function as a trade association implies that its 'programs' would likely involve advocacy, member services, and industry support, rather than direct charitable services. Transparency appears to be adequate in terms of filing IRS Form 990s consistently. However, the lack of detailed expense categories in the provided data limits a deeper analysis of how funds are specifically allocated. The sudden increase in liabilities in 2023 after years of none warrants further investigation to understand its nature and impact on the organization's long-term financial outlook.

View Full Transparency Report →

Disclaimer

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

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