Is New York Bankers Association Inc Legit?…

Quick charity verification for New York Bankers Association Inc (EIN: 131882974)

Red Flags

Liabilities ($36,372,451 in 2023) now exceed assets ($32,873,037), indicating a negative net asset position.
Consistent operational deficits in multiple years (e.g., 2023, 2018, 2017, 2016, 2015, 2014), where expenses surpassed revenues.
Significant increase in liabilities over the past few years, from $6,461,965 in 2019 to over $36 million in 2023.
Lack of detailed expense breakdown (program, admin, fundraising) makes it difficult to assess spending efficiency.

Spending Breakdown

How New York Bankers Association Inc allocates its funds across programs, administration, and fundraising.

60%

Program Spending

Below average — room for improvement

30%

Admin Costs

High — over 25% on administration

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 New York Bankers Association Inc

Is New York Bankers Association Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, New York Bankers Association Inc (EIN: 131882974) shows mixed signals. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.

Is New York Bankers Association Inc a good charity to donate to?

New York Bankers Association Inc has a Mission Score of 55/100. Revenue: $20.3M. Assets: $33.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for New York Bankers Association Inc?

The Employer Identification Number (EIN) for New York Bankers Association Inc is 131882974. 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 New York Bankers Association Inc spend its money?

New York Bankers Association Inc allocates 60% to programs, 30% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify New York Bankers Association Inc's tax-exempt status?

You can verify New York Bankers Association Inc's tax-exempt status using EIN 131882974 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

The New York Bankers Association Inc. demonstrates a consistent operational pattern, with revenues generally in the $4.5M-$8.1M range and expenses often exceeding revenues in recent years, such as in 2023 where expenses of $5,385,273 surpassed revenues of $5,032,932. This trend of operating at a deficit, as seen in 2023, 2018, 2017, 2016, 2015, and 2014, suggests reliance on accumulated assets or other funding sources to cover operational costs. The organization's assets have remained substantial, fluctuating between approximately $29.6M and $36.6M over the past decade, indicating a strong financial base despite periodic operational deficits. However, a significant increase in liabilities is noted in recent years, reaching $36,372,451 in 2023, which now exceeds its assets of $32,873,037, raising concerns about its long-term financial stability if this trend continues.

The organization's transparency regarding executive compensation is notable, with 0% reported officer compensation across all available filings. This suggests that the primary leadership may be compensated through other means not categorized as 'officer compensation' on the 990, or that the organization operates with a volunteer or externally funded leadership structure. Without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging. However, the consistent operational deficits and the recent surge in liabilities warrant closer scrutiny into how funds are being utilized and managed.

Overall, while the New York Bankers Association Inc. maintains a significant asset base, the recurring operational deficits and the recent substantial increase in liabilities, now exceeding assets, present a concerning financial picture. The lack of reported officer compensation is a positive transparency indicator, but a more detailed breakdown of expenses would be beneficial for a comprehensive understanding of its spending efficiency and program focus.

Is New York Bankers Association Inc Legit?

Verdict: New York Bankers Association Inc shows mixed signals