Is New York Compensation Insurance Rating Board Legit?
Quick charity verification for New York Compensation Insurance Rating Board (EIN: 130594020)
Verdict: New York Compensation Insurance Rating Board appears trustworthy
85/100Mission Score
$26.9MRevenue
$53.3MAssets
1Red Flags
4Strengths
Red Flags
Lack of reported officer compensation, which may obscure executive remuneration practices.
Strengths
Consistent operational surpluses, with revenues exceeding expenses in most years (e.g., 2023 revenue $23,501,640 vs. expenses $23,221,989).
Significant asset growth, more than doubling from $22,217,691 in 2021 to $53,105,680 in 2023, indicating strong financial health.
Stable revenue generation over the past decade, consistently above $20 million annually.
Effective management of liabilities relative to asset growth, contributing to a strengthening balance sheet.
Spending Breakdown
How New York Compensation Insurance Rating Board allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
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 Compensation Insurance Rating Board
Is New York Compensation Insurance Rating Board a legitimate charity?
Based on AI analysis of IRS 990 filings, New York Compensation Insurance Rating Board (EIN: 130594020) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is New York Compensation Insurance Rating Board a good charity to donate to?
New York Compensation Insurance Rating Board has a Mission Score of 85/100. Revenue: $26.9M. Assets: $53.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New York Compensation Insurance Rating Board?
The Employer Identification Number (EIN) for New York Compensation Insurance Rating Board is 130594020. 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 Compensation Insurance Rating Board spend its money?
New York Compensation Insurance Rating Board allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New York Compensation Insurance Rating Board's tax-exempt status?
You can verify New York Compensation Insurance Rating Board's tax-exempt status using EIN 130594020 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 Compensation Insurance Rating Board (NYCIRB) demonstrates consistent financial operations, with revenues generally exceeding expenses over the past decade. For instance, in 2023, revenue was $23,501,640 against expenses of $23,221,989, indicating a slight surplus. The organization's assets have shown significant growth, more than doubling from $22,217,691 in 2021 to $53,105,680 in 2023, which is a positive indicator of financial stability and capacity. Liabilities have also increased, but at a slower pace than assets, suggesting a strengthening balance sheet.
Spending efficiency appears stable, with expenses closely tracking revenues. The absence of reported officer compensation across all available filings suggests that executive remuneration is either not reported in this section or is zero, which could be a strong positive for efficiency or an area requiring further clarification regarding how leadership is compensated. The organization's consistent operational surpluses contribute to its financial health, allowing for asset accumulation and potentially future program expansion or stability.
Overall, NYCIRB appears to be a financially stable organization with a history of managing its resources effectively. The significant growth in assets in recent years, coupled with consistent operational surpluses, points to a well-managed entity. The lack of reported officer compensation is a notable point for transparency, potentially indicating a highly efficient compensation structure or a need for more detailed disclosure depending on the organization's specific structure and purpose.