Blacksmith Institute Inc
Blacksmith Institute Inc. shows strong asset growth and no reported officer compensation despite recent revenue dip.
EIN: 134075779 · New York, NY · NTEE: Q025 · Updated: 2026-03-28
Is Blacksmith Institute Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Blacksmith Institute Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Blacksmith Institute Inc
Blacksmith Institute Inc (EIN: 134075779) is a nonprofit organization based in New York, NY, classified under NTEE code Q025. The organization reported total revenue of $18.7M and total assets of $26.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Blacksmith Institute Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Blacksmith Institute Inc is a large nonprofit that has been operating for 27 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.2M |
| Total Expenses | $7.0M |
| Surplus / Deficit | $-1,784,471 |
| Total Assets | $15.7M |
| Total Liabilities | $932K |
| Net Assets | $14.8M |
| Operating Margin | -34.1% |
| Debt-to-Asset Ratio | 5.9% |
| Months of Reserves | 26.9 months |
Financial Health Grade: B
In 2023, Blacksmith Institute Inc reported a deficit of $1.8M with expenses exceeding revenue, holds 26.9 months of operating reserves (strong position), has a debt-to-asset ratio of 5.9% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Blacksmith Institute Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.8% | +14.7% | -10.3% |
| 2022 | -8.2% | +2.5% | +29.7% |
| 2021 | +1.3% | +27.5% | +31.7% |
| 2020 | +171.2% | +8.8% | +113.6% |
| 2019 | -25.5% | +8.0% | -5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Blacksmith Institute Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Blacksmith Institute Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.9%.
Executive Compensation Analysis
Blacksmith Institute Inc. reports 0% officer compensation across all available filings, which is highly unusual for an organization with annual expenses in the millions. This suggests either a completely volunteer-led executive team or that executive compensation falls below IRS reporting thresholds, indicating a strong commitment to directing funds towards programs.
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 Blacksmith Institute Inc's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing period (202312), leading to a net loss for the year.
Strengths
The following positive indicators were identified for Blacksmith Institute Inc:
- Consistent and significant growth in assets over the past decade, from $5,274,510 in 201412 to $15,738,894 in 202312.
- Zero reported officer compensation across all filings, indicating high efficiency and transparency regarding executive pay.
- Liabilities consistently represent a small percentage of total assets, demonstrating strong financial health and low debt burden.
- Strong revenue generation in multiple years, with peaks over $10 million (e.g., $10,512,947 in 202112).
Frequently Asked Questions about Blacksmith Institute Inc
Is Blacksmith Institute Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Blacksmith Institute Inc (EIN: 134075779) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Blacksmith Institute Inc spend its money?
Blacksmith Institute Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Blacksmith Institute Inc tax-deductible?
Blacksmith Institute Inc is registered as a tax-exempt nonprofit (EIN: 134075779). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Blacksmith Institute Inc. financially stable?
Yes, Blacksmith Institute Inc. appears financially stable. Despite a recent year where expenses exceeded revenue (202312), the organization has consistently grown its assets from $5,274,510 in 201412 to $15,738,894 in 202312, and its liabilities remain a small fraction of its assets.
How has Blacksmith Institute Inc.'s revenue trended over the last few years?
Blacksmith Institute Inc.'s revenue has fluctuated but generally shown strong periods. It peaked at $10,512,947 in 202112, then decreased to $9,646,852 in 202212, and further to $5,230,809 in 202312. However, these figures are still significantly higher than earlier years like $1,637,326 in 201712.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available IRS 990 filings, indicating that no officers received reportable compensation, which is a strong indicator of efficient resource allocation and transparency.
Filing History
IRS 990 filing history for Blacksmith Institute Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Blacksmith Institute Inc's revenue has grown by 25.1%, moving from $4.2M to $5.2M. Total assets increased by 1073.1% over the same period, from $1.3M to $15.7M. Total functional expenses rose by 109.1%, from $3.4M to $7.0M. In its most recent filing year (2023), Blacksmith Institute Inc reported a deficit of $1.8M, with expenses exceeding revenue. The organization holds $932K in liabilities against $15.7M in assets (debt-to-asset ratio: 5.9%), resulting in net assets of $14.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.2M | $7.0M | $15.7M | $932K | — | — |
| 2022 | $9.6M | $6.1M | $17.5M | $946K | — | View 990 |
| 2021 | $10.5M | $6.0M | $13.5M | $478K | — | View 990 |
| 2020 | $10.4M | $4.7M | $10.3M | $924K | — | View 990 |
| 2019 | $3.8M | $4.3M | $4.8M | $1.2M | — | View 990 |
| 2018 | $5.1M | $4.0M | $5.1M | $981K | — | View 990 |
| 2017 | $1.6M | $5.1M | $4.8M | $1.9M | — | View 990 |
| 2016 | $7.7M | $4.7M | $8.1M | $1.7M | — | View 990 |
| 2015 | $2.3M | $3.1M | $4.9M | $1.5M | — | View 990 |
| 2014 | $4.8M | $1.8M | $5.3M | $1.1M | — | View 990 |
| 2013 | $1.7M | $1.5M | $1.9M | $646K | — | View 990 |
| 2012 | $1.5M | $1.7M | $1.2M | $175K | — | View 990 |
| 2011 | $2.0M | $2.2M | $1.3M | $53K | — | View 990 |
| 2010 | $4.2M | $3.4M | $1.3M | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.2M, expenses of $7.0M, and assets of $15.7M (revenue -45.8% year-over-year).
- 2022: Revenue of $9.6M, expenses of $6.1M, and assets of $17.5M (revenue -8.2% year-over-year).
- 2021: Revenue of $10.5M, expenses of $6.0M, and assets of $13.5M (revenue +1.3% year-over-year).
- 2020: Revenue of $10.4M, expenses of $4.7M, and assets of $10.3M (revenue +171.2% year-over-year).
- 2019: Revenue of $3.8M, expenses of $4.3M, and assets of $4.8M (revenue -25.5% year-over-year).
- 2018: Revenue of $5.1M, expenses of $4.0M, and assets of $5.1M (revenue +214.0% year-over-year).
- 2017: Revenue of $1.6M, expenses of $5.1M, and assets of $4.8M (revenue -78.7% year-over-year).
- 2016: Revenue of $7.7M, expenses of $4.7M, and assets of $8.1M (revenue +231.0% year-over-year).
- 2015: Revenue of $2.3M, expenses of $3.1M, and assets of $4.9M (revenue -51.6% year-over-year).
- 2014: Revenue of $4.8M, expenses of $1.8M, and assets of $5.3M (revenue +174.5% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.5M, and assets of $1.9M (revenue +15.5% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.7M, and assets of $1.2M (revenue -26.2% year-over-year).
- 2011: Revenue of $2.0M, expenses of $2.2M, and assets of $1.3M (revenue -51.1% year-over-year).
- 2010: Revenue of $4.2M, expenses of $3.4M, and assets of $1.3M.
Data Sources and Methodology
This transparency report for Blacksmith Institute 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.