Is Home Aides Of Central New York Inc…

Quick charity verification for Home Aides Of Central New York Inc (EIN: 160916474)

Red Flags

Consistent operating deficits: Expenses have exceeded revenue in most recent years, including a $1.6 million deficit in 2023.
Rapidly increasing liabilities: Liabilities surged from $1.3 million in 2021 to $4.99 million in 2023.
Negative net asset position: Liabilities significantly outweigh assets, indicating financial instability.
Declining revenue trend: Revenue has generally decreased from a peak of $8.2 million in 2020 to $4.2 million in 2023.
Lack of detailed spending breakdown: Without specific program, admin, and fundraising percentages, efficiency is hard to fully gauge.

Spending Breakdown

How Home Aides Of Central New York 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 Home Aides Of Central New York Inc

Is Home Aides Of Central New York Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Home Aides Of Central New York Inc (EIN: 160916474) has notable concerns. Mission Score: 35/100. 5 red flags identified, 3 strengths noted.

Is Home Aides Of Central New York Inc a good charity to donate to?

Home Aides Of Central New York Inc has a Mission Score of 35/100. Revenue: $4.4M. Assets: $966K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Home Aides Of Central New York Inc?

The Employer Identification Number (EIN) for Home Aides Of Central New York Inc is 160916474. 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 Home Aides Of Central New York Inc spend its money?

Home Aides Of Central New York Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Home Aides Of Central New York Inc's tax-exempt status?

You can verify Home Aides Of Central New York Inc's tax-exempt status using EIN 160916474 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

Home Aides Of Central New York Inc. has experienced significant financial challenges in recent years, consistently reporting expenses exceeding revenue. For instance, in 2023, expenses were $5,927,922 against revenues of $4,287,518, resulting in a deficit of over $1.6 million. This trend of operating at a deficit has been observed in most of the past five years, leading to a substantial increase in liabilities, which reached $4,990,834 in 2023, far outweighing its assets of $729,124. The organization's financial health appears precarious, with a negative net asset position.

The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, the consistent operating deficits suggest that current revenue streams are insufficient to cover its operational costs. The absence of reported officer compensation across all filings indicates a potential strength in minimizing executive overhead, or it could imply that key personnel are compensated through other means not captured in this specific field. The significant increase in liabilities over time, particularly the jump from $1,308,269 in 2021 to nearly $5 million in 2023, raises concerns about its long-term financial stability and ability to sustain its mission.

From a transparency perspective, the consistent filing of IRS Form 990s is a positive indicator. However, the lack of reported officer compensation, while potentially a cost-saving measure, could also be a point of inquiry regarding how leadership is compensated. The overall financial picture suggests an organization struggling to maintain solvency, which could impact its ability to deliver on its mission effectively in the long run.

Is Home Aides Of Central New York Inc Legit?

Verdict: Home Aides Of Central New York Inc has notable concerns