Brooklyn Navy Yard Development Corporation
Brooklyn Navy Yard Development Corporation shows strong asset growth and revenue, with no reported officer compensation.
EIN: 112137138 · Brooklyn, NY · NTEE: S200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $157.2M |
| Total Expenses | $91.3M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $365.5M |
| Transparency Score | 85/100 |
Is Brooklyn Navy Yard Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Brooklyn Navy Yard Development Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Brooklyn Navy Yard Development Corporation
Brooklyn Navy Yard Development Corporation (EIN: 112137138) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code S200. The organization reported total revenue of $157.2M and total assets of $1.1B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Brooklyn Navy Yard Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Brooklyn Navy Yard Development Corporation is a major nonprofit that has been operating for 44 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $119.3M |
| Total Expenses | $91.3M |
| Surplus / Deficit | +$28.0M |
| Total Assets | $1.0B |
| Total Liabilities | $680.4M |
| Net Assets | $365.5M |
| Operating Margin | 23.5% |
| Debt-to-Asset Ratio | 65.1% |
| Months of Reserves | 137.5 months |
Financial Health Grade: A
In 2023, Brooklyn Navy Yard Development Corporation reported a surplus of $28.0M with revenue exceeding expenses, holds 137.5 months of operating reserves (strong position), has a debt-to-asset ratio of 65.1% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Brooklyn Navy Yard Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +45.0% | -12.8% | +3.6% |
| 2022 | +20.3% | +31.9% | +85.8% |
| 2021 | -4.2% | +15.5% | -1.8% |
| 2020 | -26.0% | +8.0% | -1.4% |
| 2019 | +47.6% | -13.4% | -6.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
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 Brooklyn Navy Yard Development Corporation with a Mission Score of 85 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, Brooklyn Navy Yard Development Corporation 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 surplus of $28.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 65.1%.
Executive Compensation Analysis
The reported 0% officer compensation across all available filings is unusual for an organization of this size with over $1 billion in assets and significant revenue, suggesting that executive compensation may be reported under different categories or that the organization's leadership is compensated through other means, which warrants further scrutiny for complete transparency.
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 Brooklyn Navy Yard Development Corporation's IRS 990 filings:
- Unusually low or 0% reported officer compensation for a large organization, potentially obscuring executive pay details.
Strengths
The following positive indicators were identified for Brooklyn Navy Yard Development Corporation:
- Consistent and significant asset growth, reaching over $1 billion in 2023.
- Strong revenue generation, with latest reported revenue at $157,153,274.
- Overall financial health appears robust, with assets consistently exceeding liabilities.
- Positive net income in most recent periods, contributing to reserves and growth.
Frequently Asked Questions about Brooklyn Navy Yard Development Corporation
Is Brooklyn Navy Yard Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Brooklyn Navy Yard Development Corporation (EIN: 112137138) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Brooklyn Navy Yard Development Corporation spend its money?
Brooklyn Navy Yard Development Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Brooklyn Navy Yard Development Corporation tax-deductible?
Brooklyn Navy Yard Development Corporation is registered as a tax-exempt nonprofit (EIN: 112137138). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Brooklyn Navy Yard Development Corporation CEO make?
Brooklyn Navy Yard Development Corporation's highest-compensated officer earns $1 annually. The organization reported $157.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Brooklyn Navy Yard Development Corporation's spending goes to programs?
Brooklyn Navy Yard Development Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Brooklyn Navy Yard Development Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Brooklyn Navy Yard Development Corporation is above average for NTEE category S200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Brooklyn Navy Yard Development Corporation located?
Brooklyn Navy Yard Development Corporation is headquartered in Brooklyn, New York and files with the IRS under EIN 112137138. It is classified under NTEE code S200.
How many years of IRS 990 filings does Brooklyn Navy Yard Development Corporation have?
Brooklyn Navy Yard Development Corporation has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $157.2M in total revenue.
How is executive compensation handled if 0% is reported for officers?
The consistent reporting of 0% officer compensation across all filings for an organization of this scale suggests that executive compensation might be categorized differently within the IRS 990, or that key personnel are compensated through related entities or other mechanisms not reflected in this specific line item. Further review of the full 990 forms would be necessary to understand the complete picture of executive remuneration.
What are the specific program activities funded by the organization's substantial revenue?
While the financial data indicates significant revenue and asset growth, the provided summary does not detail the specific programs or initiatives that these funds support. Understanding the allocation of resources to direct programmatic activities would provide a clearer picture of the organization's impact.
What is the long-term strategy for managing the significant liabilities, which reached $680,441,745 in 2023?
The organization has substantial liabilities, growing to $680,441,745 in 2023. While assets significantly exceed liabilities, understanding the nature of these liabilities (e.g., bonds, loans for development projects) and the strategy for their management is crucial for assessing long-term financial stability.
Filing History
IRS 990 filing history for Brooklyn Navy Yard Development Corporation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Brooklyn Navy Yard Development Corporation's revenue has grown by 102.7%, moving from $58.8M to $119.3M. Total assets increased by 217.5% over the same period, from $329.4M to $1.0B. Total functional expenses rose by 135.8%, from $38.7M to $91.3M. In its most recent filing year (2023), Brooklyn Navy Yard Development Corporation reported a surplus of $28.0M, with revenue exceeding expenses. The organization holds $680.4M in liabilities against $1.0B in assets (debt-to-asset ratio: 65.1%), resulting in net assets of $365.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $119.3M | $91.3M | $1.0B | $680.4M | — | View 990 |
| 2022 | $82.2M | $104.7M | $1.0B | $672.3M | — | View 990 |
| 2021 | $68.4M | $79.4M | $543.6M | $183.5M | — | View 990 |
| 2020 | $71.4M | $68.8M | $553.8M | $182.7M | — | View 990 |
| 2019 | $96.6M | $63.7M | $562.0M | $193.5M | — | View 990 |
| 2018 | $65.4M | $73.5M | $601.3M | $226.6M | — | View 990 |
| 2017 | $88.8M | $52.9M | $617.7M | $234.8M | — | View 990 |
| 2016 | $107.1M | $48.6M | $553.7M | $210.1M | — | View 990 |
| 2015 | $57.6M | $45.4M | $453.7M | $168.6M | — | View 990 |
| 2014 | $55.5M | $45.9M | $422.7M | $149.9M | — | View 990 |
| 2013 | $54.4M | $41.5M | $403.7M | $140.5M | — | View 990 |
| 2012 | $58.8M | $38.7M | $329.4M | $77.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $119.3M, expenses of $91.3M, and assets of $1.0B (revenue +45.0% year-over-year).
- 2022: Revenue of $82.2M, expenses of $104.7M, and assets of $1.0B (revenue +20.3% year-over-year).
- 2021: Revenue of $68.4M, expenses of $79.4M, and assets of $543.6M (revenue -4.2% year-over-year).
- 2020: Revenue of $71.4M, expenses of $68.8M, and assets of $553.8M (revenue -26.0% year-over-year).
- 2019: Revenue of $96.6M, expenses of $63.7M, and assets of $562.0M (revenue +47.6% year-over-year).
- 2018: Revenue of $65.4M, expenses of $73.5M, and assets of $601.3M (revenue -26.4% year-over-year).
- 2017: Revenue of $88.8M, expenses of $52.9M, and assets of $617.7M (revenue -17.1% year-over-year).
- 2016: Revenue of $107.1M, expenses of $48.6M, and assets of $553.7M (revenue +85.9% year-over-year).
- 2015: Revenue of $57.6M, expenses of $45.4M, and assets of $453.7M (revenue +3.8% year-over-year).
- 2014: Revenue of $55.5M, expenses of $45.9M, and assets of $422.7M (revenue +2.1% year-over-year).
- 2013: Revenue of $54.4M, expenses of $41.5M, and assets of $403.7M (revenue -7.6% year-over-year).
- 2012: Revenue of $58.8M, expenses of $38.7M, and assets of $329.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Brooklyn Navy Yard Development Corporation:
Data Sources and Methodology
This transparency report for Brooklyn Navy Yard Development Corporation 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.