Quick charity verification for New York Chamber Soloists Inc (EIN: 132685345)
Verdict: New York Chamber Soloists Inc shows mixed signals
60/100Mission Score
$69KRevenue
$3KAssets
4Red Flags
2Strengths
Red Flags
Consistent decline in revenue over the past decade, from $238,708 in 2012 to $68,600 currently.
Significant decrease in assets, from $52,289 in 2013 to $2,813 in the latest filing.
Frequent operating deficits where expenses exceeded revenue in multiple periods (e.g., 2017, 2016, 2015, 2014, 2011).
Liabilities sometimes significantly outweighing assets, such as $44,969 in liabilities against $4,142 in assets in 2018.
Strengths
Consistent reporting of 0% officer compensation, indicating no executive salaries are paid.
Long history of IRS 990 filings (8 filings), suggesting a degree of transparency in reporting.
Spending Breakdown
How New York Chamber Soloists Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Chamber Soloists Inc
Is New York Chamber Soloists Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New York Chamber Soloists Inc (EIN: 132685345) shows mixed signals. Mission Score: 60/100. 4 red flags identified, 2 strengths noted.
Is New York Chamber Soloists Inc a good charity to donate to?
New York Chamber Soloists Inc has a Mission Score of 60/100. Revenue: $69K. Assets: $3K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New York Chamber Soloists Inc?
The Employer Identification Number (EIN) for New York Chamber Soloists Inc is 132685345. 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 Chamber Soloists Inc spend its money?
New York Chamber Soloists Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New York Chamber Soloists Inc's tax-exempt status?
You can verify New York Chamber Soloists Inc's tax-exempt status using EIN 132685345 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
New York Chamber Soloists Inc. exhibits a concerning financial trend with declining revenue and assets over the past several years. While the organization consistently reports 0% officer compensation, which is a positive for donor confidence in executive pay, its financial stability appears to be weakening. For instance, revenue dropped from a high of $238,708 in 2012 to $68,600 in its latest filing, and assets have similarly decreased from $52,289 in 2013 to $2,813 currently. The organization has also frequently operated at a deficit, with expenses exceeding revenue in multiple periods, such as 2017 ($87,456 expenses vs. $72,670 revenue) and 2016 ($184,805 expenses vs. $174,160 revenue).
The consistent reporting of zero officer compensation suggests a commitment to directing funds towards its mission rather than executive salaries. However, the overall financial health, marked by shrinking revenue and assets, raises questions about the long-term sustainability and impact of its programs. The lack of detailed expense breakdowns in the provided data makes it difficult to fully assess spending efficiency beyond the absence of executive compensation.