Is Sy Syms Foundation A New Jersey Non Profit Corp Legit?
Quick charity verification for Sy Syms Foundation A New Jersey Non Profit Corp (EIN: 222617727)
Verdict: Sy Syms Foundation A New Jersey Non Profit Corp shows mixed signals
65/100Mission Score
$13.1MRevenue
$29.5MAssets
3Red Flags
3Strengths
Red Flags
Significant drop in revenue from $5,071,944 in 2022 to $52,846 in 2023 without a corresponding decrease in expenses, raising sustainability concerns.
High administrative expenses (x) relative to revenue (r) in recent years, for example, $3,454,317 in expenses against $52,846 in revenue in 2023.
Lack of reported compensation for key personnel ('c0%') could obscure how leadership is compensated or indicate a reliance on external support.
Strengths
Consistent asset base, with assets (a) remaining above $29 million, providing a strong financial cushion.
Very low reported liabilities ('l' at $2,100), indicating a healthy balance sheet with minimal debt.
Long operational history with consistent filings, suggesting organizational stability.
Spending Breakdown
How Sy Syms Foundation A New Jersey Non Profit Corp allocates its funds across programs, administration, and fundraising.
10%
Program Spending
Concerning — less than half to programs
80%
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 Sy Syms Foundation A New Jersey Non Profit Corp
Is Sy Syms Foundation A New Jersey Non Profit Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Sy Syms Foundation A New Jersey Non Profit Corp (EIN: 222617727) shows mixed signals. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
Is Sy Syms Foundation A New Jersey Non Profit Corp a good charity to donate to?
Sy Syms Foundation A New Jersey Non Profit Corp has a Mission Score of 65/100. Revenue: $13.1M. Assets: $29.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Sy Syms Foundation A New Jersey Non Profit Corp?
The Employer Identification Number (EIN) for Sy Syms Foundation A New Jersey Non Profit Corp is 222617727. 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 Sy Syms Foundation A New Jersey Non Profit Corp spend its money?
Sy Syms Foundation A New Jersey Non Profit Corp allocates 10% to programs, 80% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Sy Syms Foundation A New Jersey Non Profit Corp's tax-exempt status?
You can verify Sy Syms Foundation A New Jersey Non Profit Corp's tax-exempt status using EIN 222617727 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
Sy Syms Foundation A New Jersey Non Profit Corp is a unknown nonprofit based in Warren, New Jersey, with reported revenue of $13.1M and assets of $29.5M. Our AI analysis assigns a Mission Score of 65/100 (Good). Approximately 10% of spending goes to programs, 80% to administration, and 10% to fundraising. Executive compensation is not reported in the provided filings, with 'c0%' consistently listed, which could indicate a volunteer-led board or that compensation is handled through other entities not detailed in these specific filings. Revenue has declined -100% across 9 filing periods.