Quick charity verification for New York Cardiac Center Inc (EIN: 131624083)
Verdict: New York Cardiac Center Inc shows mixed signals
60/100Mission Score
$1.1MRevenue
$2.5MAssets
3Red Flags
3Strengths
Red Flags
Persistent operating deficits: Expenses consistently exceed revenue in all reported periods, indicating an unsustainable financial model.
Declining asset base: Assets have decreased from over $3.3 million in 2014 to under $2.5 million in 2023, suggesting reliance on reserves to cover deficits.
Negative revenue reported in some years (e.g., 2020, 2018), which could indicate significant investment losses or unusual accounting events.
Strengths
Healthy asset base: Despite declines, the organization still holds over $2.4 million in assets, providing a buffer.
No reported officer compensation: This indicates a commitment to minimizing executive overhead costs.
How New York Cardiac Center Inc 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 New York Cardiac Center Inc
Is New York Cardiac Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New York Cardiac Center Inc (EIN: 131624083) shows mixed signals. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
Is New York Cardiac Center Inc a good charity to donate to?
New York Cardiac Center Inc has a Mission Score of 60/100. Revenue: $1.1M. Assets: $2.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New York Cardiac Center Inc?
The Employer Identification Number (EIN) for New York Cardiac Center Inc is 131624083. 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 Cardiac Center Inc spend its money?
New York Cardiac Center Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New York Cardiac Center Inc's tax-exempt status?
You can verify New York Cardiac Center Inc's tax-exempt status using EIN 131624083 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 Cardiac Center Inc. demonstrates a concerning trend of declining revenue and consistent operating deficits over the past several years. In 2023, the organization reported revenue of $89,054 against expenses of $311,618, resulting in a significant deficit. This pattern is not isolated, as expenses have consistently outpaced revenue in all reported periods, often by a substantial margin. While the organization maintains a healthy asset base of $2,462,786 in 2023, this appears to be diminishing over time, suggesting that deficits are being covered by drawing down reserves rather than sustainable operations. The lack of reported officer compensation across all filings indicates a potential reliance on volunteer leadership or that compensation is structured in a way not captured by this metric, which could be a positive for efficiency or a point of inquiry for full transparency.
The organization's financial health is precarious given its persistent inability to generate sufficient revenue to cover its expenses. The average annual revenue over the last ten years is significantly lower than its average annual expenses, indicating a structural imbalance. While the asset base provides a buffer, it is not infinite, and continued deficits will erode it further. The absence of officer compensation is a positive indicator of cost control at the executive level, contributing to spending efficiency in that area. However, without a breakdown of program, administrative, and fundraising expenses, a comprehensive assessment of overall spending efficiency is challenging. The consistent filing of IRS 990s demonstrates a commitment to basic transparency requirements.