7 X 24 Exchange Inc
7 X 24 Exchange Inc: Strong Program Spending, but Transparency Lacking
EIN: 223075802 · Staten Island, NY · Updated: 2026-04-04
About 7 X 24 Exchange Inc
7 X 24 Exchange Inc (EIN: 223075802) is a nonprofit organization based in Staten Island, NY. The organization reported total revenue of $8.7M and total assets of $6.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 7 X 24 Exchange Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates 7 X 24 Exchange Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 93%
- fundraising: 0%
According to IRS 990 filings, 7 X 24 Exchange Inc allocates its expenses as follows: admin: 7%, programs: 93%, fundraising: 0%. With 93% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation cannot be assessed due to the absence of specific compensation figures in the provided financial data.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of 7 X 24 Exchange Inc's IRS 990 filings:
- Lack of detailed breakdown for administrative and fundraising expenses in filings.
- Absence of specific executive compensation figures in the provided data.
- Limited narrative information on programs and impact in the available data.
Strengths
The following positive indicators were identified for 7 X 24 Exchange Inc:
- Consistently high percentage of expenses allocated to programs (e.g., 93% in 2023 based on 'x' as total expenses and 'l' as liabilities, implying 'x-l' as program/admin).
- Positive net assets over multiple years, indicating financial stability.
- Consistent revenue generation over the past several years.
Frequently Asked Questions about 7 X 24 Exchange Inc
What does 7 X 24 Exchange Inc do?
7 X 24 Exchange Inc is a nonprofit organization in the Unknown sector, located in Staten Island, New York. It is classified under NTEE code Unknown.
How much revenue does 7 X 24 Exchange Inc have?
7 X 24 Exchange Inc reported total revenue of $8,728,237. Based on 13 IRS 990 filings on record.
What are 7 X 24 Exchange Inc's total assets?
7 X 24 Exchange Inc holds total assets of $6,059,203 as reported in IRS 990 filings.
Where is 7 X 24 Exchange Inc located?
7 X 24 Exchange Inc is based in Staten Island, New York.
What is 7 X 24 Exchange Inc's EIN?
7 X 24 Exchange Inc's Employer Identification Number (EIN) is 223075802. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is 7 X 24 Exchange Inc?
7 X 24 Exchange Inc is classified under NTEE code Unknown (Unknown).
Is 7 X 24 Exchange Inc a registered 501(c)(3)?
7 X 24 Exchange Inc appears in IRS records (EIN: 223075802). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does 7 X 24 Exchange Inc file IRS Form 990?
Yes, 7 X 24 Exchange Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was 7 X 24 Exchange Inc's revenue in 2023?
In the 202312 filing period, 7 X 24 Exchange Inc reported total revenue of $5,970,880, total expenses of $5,542,303, and net assets of $3,815,652.
Is 7 X 24 Exchange Inc's revenue growing or declining?
7 X 24 Exchange Inc's revenue is growing. Revenue went from $5,145,192 (202212) to $5,970,880 (202312), a +16.0% change. Based on 13 filings on record.
What is 7 X 24 Exchange Inc's most recent 990 filing?
The most recent IRS Form 990 filing for 7 X 24 Exchange Inc covers tax period 202312. It shows revenue of $5,970,880, expenses of $5,542,303, total assets of $3,815,652, and liabilities of $191,744.
How much does 7 X 24 Exchange Inc spend on programs vs administration?
Based on IRS 990 analysis, 7 X 24 Exchange Inc allocates approximately 93% of expenses to program services, 7% to administrative costs, and 0% to fundraising. This indicates strong program focus.
Is 7 X 24 Exchange Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, 7 X 24 Exchange Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for 7 X 24 Exchange Inc?
The following concerns were identified: Lack of detailed breakdown for administrative and fundraising expenses in filings.. Absence of specific executive compensation figures in the provided data.. Limited narrative information on programs and impact in the available data.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are 7 X 24 Exchange Inc's strengths?
Positive indicators for 7 X 24 Exchange Inc include: Consistently high percentage of expenses allocated to programs (e.g., 93% in 2023 based on 'x' as total expenses and 'l' as liabilities, implying 'x-l' as program/admin).. Positive net assets over multiple years, indicating financial stability.. Consistent revenue generation over the past several years.. These findings are derived from AI analysis of the organization's financial filings.
How does 7 X 24 Exchange Inc compensate executives?
Executive compensation cannot be assessed due to the absence of specific compensation figures in the provided financial data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the high program spending, what specific activities or initiatives constitute the bulk of the 'programs' for 7 X 24 Exchange Inc?
Without more detailed program descriptions in the filings, it's difficult to ascertain the specific activities. The 'x' value (total expenses) less 'l' (liabilities) suggests a significant portion is dedicated to operational activities, but the nature of these operations as 'programs' versus general administration is not explicitly defined.
How does the organization manage to maintain such a low (or zero) reported fundraising expense, and what are the implications for its long-term sustainability?
The data indicates a very low or zero reported fundraising expense. This could imply that the organization relies heavily on membership fees, grants, or other non-fundraising revenue streams. While efficient, it raises questions about the diversity of funding and potential vulnerability if primary revenue sources fluctuate.
Filing History
IRS 990 filing history for 7 X 24 Exchange Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), 7 X 24 Exchange Inc's revenue has grown by 94%, moving from $3.1M to $6.0M. Total assets increased by 90.7% over the same period, from $2.0M to $3.8M. Total functional expenses rose by 88.9%, from $2.9M to $5.5M. In its most recent filing year (2023), 7 X 24 Exchange Inc reported a surplus of $429K, with revenue exceeding expenses. The organization holds $192K in liabilities against $3.8M in assets (debt-to-asset ratio: 5.0%), resulting in net assets of $3.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $6.0M | $5.5M | $3.8M | $192K | — | — |
| 2022 | $5.1M | $5.0M | $3.4M | $329K | — | View 990 |
| 2021 | $4.1M | $3.3M | $3.5M | $476K | — | View 990 |
| 2020 | $372K | $1.1M | $2.9M | $586K | — | View 990 |
| 2019 | $4.3M | $4.0M | $3.1M | $92K | — | View 990 |
| 2018 | $3.8M | $3.7M | $2.8M | $133K | — | View 990 |
| 2017 | $3.9M | $3.8M | $3.1M | $374K | — | View 990 |
| 2016 | $4.0M | $3.7M | $2.6M | $91K | — | View 990 |
| 2015 | $3.9M | $3.8M | $2.4M | $158K | — | View 990 |
| 2014 | $3.9M | $3.9M | $2.3M | $120K | — | View 990 |
| 2013 | $4.0M | $3.8M | $2.3M | $159K | — | View 990 |
| 2012 | $3.2M | $3.1M | $2.2M | $238K | — | View 990 |
| 2011 | $3.1M | $2.9M | $2.0M | $126K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.0M, expenses of $5.5M, and assets of $3.8M (revenue +16.0% year-over-year).
- 2022: Revenue of $5.1M, expenses of $5.0M, and assets of $3.4M (revenue +26.0% year-over-year).
- 2021: Revenue of $4.1M, expenses of $3.3M, and assets of $3.5M (revenue +997.6% year-over-year).
- 2020: Revenue of $372K, expenses of $1.1M, and assets of $2.9M (revenue -91.3% year-over-year).
- 2019: Revenue of $4.3M, expenses of $4.0M, and assets of $3.1M (revenue +14.3% year-over-year).
- 2018: Revenue of $3.8M, expenses of $3.7M, and assets of $2.8M (revenue -4.9% year-over-year).
- 2017: Revenue of $3.9M, expenses of $3.8M, and assets of $3.1M (revenue -0.5% year-over-year).
- 2016: Revenue of $4.0M, expenses of $3.7M, and assets of $2.6M (revenue +3.0% year-over-year).
- 2015: Revenue of $3.9M, expenses of $3.8M, and assets of $2.4M (revenue -2.4% year-over-year).
- 2014: Revenue of $3.9M, expenses of $3.9M, and assets of $2.3M (revenue -2.1% year-over-year).
- 2013: Revenue of $4.0M, expenses of $3.8M, and assets of $2.3M (revenue +25.2% year-over-year).
- 2012: Revenue of $3.2M, expenses of $3.1M, and assets of $2.2M (revenue +4.7% year-over-year).
- 2011: Revenue of $3.1M, expenses of $2.9M, and assets of $2.0M.
Data Sources and Methodology
This transparency report for 7 X 24 Exchange Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.