Is New York City Industrial Technology Assistance Corporation Legit?

Quick charity verification for New York City Industrial Technology Assistance Corporation (EIN: 133410779)

Verdict: New York City Industrial Technology Assistance Corporation appears trustworthy

75/100Mission Score

$2.2MRevenue

$2.4MAssets

3Red Flags

3Strengths

Red Flags

Occasional operating deficits (e.g., 2023, 2020, 2016) where expenses exceeded revenue.
Lack of detailed expense breakdown (program, admin, fundraising) in provided data.
Unusual 0% officer compensation for an organization with multi-million dollar revenues, which may obscure actual executive remuneration.

Strengths

Consistent IRS 990 filing history (12 filings) demonstrating compliance.
Strong asset-to-liability ratio, indicating good financial stability (e.g., 2023 assets $2,398,869 vs. liabilities $142,466).
No reported officer compensation, suggesting a potential for high efficiency in executive overhead.

Spending Breakdown

How New York City Industrial Technology Assistance Corporation 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 New York City Industrial Technology Assistance Corporation

Is New York City Industrial Technology Assistance Corporation a legitimate charity?

Based on AI analysis of IRS 990 filings, New York City Industrial Technology Assistance Corporation (EIN: 133410779) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.

Is New York City Industrial Technology Assistance Corporation a good charity to donate to?

New York City Industrial Technology Assistance Corporation has a Mission Score of 75/100. Revenue: $2.2M. Assets: $2.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for New York City Industrial Technology Assistance Corporation?

The Employer Identification Number (EIN) for New York City Industrial Technology Assistance Corporation is 133410779. 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 City Industrial Technology Assistance Corporation spend its money?

New York City Industrial Technology Assistance Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify New York City Industrial Technology Assistance Corporation's tax-exempt status?

You can verify New York City Industrial Technology Assistance Corporation's tax-exempt status using EIN 133410779 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 City Industrial Technology Assistance Corporation (NYC ITAC) demonstrates consistent financial activity, with annual revenues and expenses generally in the range of $2.2 million to $3.4 million over the past decade. While the organization's NTEE code is unknown, making direct peer comparison difficult, its financial health appears stable, with assets consistently exceeding liabilities. For instance, in 2023, assets were $2,398,869 against liabilities of $142,466, indicating a strong financial position. However, the organization experienced a deficit in 2023, with expenses of $2,637,238 exceeding revenues of $2,316,835, a trend also seen in 2020 and 2016. This suggests that while generally stable, the organization occasionally operates at a slight loss, which could warrant closer examination of revenue diversification or expense management.

Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses from the provided data. However, the consistent reporting of 0% officer compensation across all filings is a significant positive indicator of efficient resource allocation, as it suggests that executive leadership is either unpaid or compensated through other means not classified as officer compensation, potentially reducing overhead. This practice, if sustained, contributes to a higher proportion of funds being available for direct mission-related activities.

In terms of transparency, the organization has a robust filing history with 12 IRS 990 filings, indicating consistent compliance with reporting requirements. The absence of officer compensation is a notable point for transparency, as it clearly shows no direct salary payments to officers. However, the lack of detailed expense categories (program, admin, fundraising) in the provided summary limits a deeper analysis of how funds are specifically allocated, which would enhance overall transparency for stakeholders.

View Full Transparency Report →

Disclaimer

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