Is Homes For New Yorkers Legit?

Quick charity verification for Homes For New Yorkers (EIN: 132875896)

Verdict: Homes For New Yorkers appears trustworthy

88/100Mission Score

$1.8MRevenue

$22.0MAssets

2Red Flags

4Strengths

Red Flags

Consistently high liabilities relative to assets (e.g., $13,494,037 in liabilities vs. $21,219,233 in assets in 2023) warrant further investigation into their nature.
Unknown NTEE code makes it difficult to benchmark program efficiency against similar organizations.

Strengths

Strong and consistent asset growth, from $8,382,392 in 2021 to $21,219,233 in 2023.
Very low expense ratios relative to revenue in recent years, indicating efficient operations (e.g., 2023 expenses were less than half of revenue).
No reported officer compensation across all filings, suggesting a highly volunteer-driven or lean executive structure.
Significant revenue generation capacity, with latest reported revenue at $1,845,684.

Spending Breakdown

How Homes For New Yorkers allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

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 Homes For New Yorkers

Is Homes For New Yorkers a legitimate charity?

Based on AI analysis of IRS 990 filings, Homes For New Yorkers (EIN: 132875896) appears trustworthy. Mission Score: 88/100. 2 red flags identified, 4 strengths noted.

Is Homes For New Yorkers a good charity to donate to?

Homes For New Yorkers has a Mission Score of 88/100. Revenue: $1.8M. Assets: $22.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Homes For New Yorkers?

The Employer Identification Number (EIN) for Homes For New Yorkers is 132875896. 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 Homes For New Yorkers spend its money?

Homes For New Yorkers allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Homes For New Yorkers's tax-exempt status?

You can verify Homes For New Yorkers's tax-exempt status using EIN 132875896 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

Homes For New Yorkers demonstrates a strong financial position with substantial and growing assets, reaching $21,995,454 in the latest period. The organization has shown significant growth in revenue and assets over the past few years, particularly from 2021 to 2023. For instance, assets grew from $8,382,392 in 2021 to $21,219,233 in 2023. However, a notable aspect is the consistently high level of liabilities, which were $13,494,037 in 2023, representing a significant portion of their assets. This suggests a reliance on debt or other obligations to finance their operations or asset acquisition.

The organization's spending efficiency appears to be very strong, with expenses consistently much lower than revenue in most recent years. For example, in 2023, revenue was $1,349,249 while expenses were $641,446, indicating a substantial surplus. This trend of low expenses relative to revenue has been consistent since 2018, with the exception of 2017 and 2015. The lack of reported officer compensation across all filings suggests a volunteer-led or very lean executive structure, which contributes to lower administrative costs. The NTEE code is unknown, which can sometimes hinder a full understanding of their specific program focus and comparative efficiency within their sector, but the financial data points to a well-managed expense structure.

Given the available data, Homes For New Yorkers appears to be financially healthy with a strong capacity to generate revenue and manage expenses. The consistent growth in assets, coupled with low reported officer compensation, indicates a focus on accumulating resources, likely for their mission. The high liabilities warrant further investigation to understand their nature and long-term implications, but overall, the organization exhibits good financial stewardship and a strong program focus given the low expense ratios.

View Full Transparency Report →

Disclaimer

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