City Lore Inc
City Lore Inc. reports a $579,512 deficit in 2023 while liabilities remain high.
EIN: 112740189 · New York, NY · NTEE: A200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.8M |
| Total Expenses | $3.3M |
| Program Spending | 80% |
| Net Assets | $1.8M |
| Transparency Score | 75/100 |
Is City Lore Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
City Lore Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About City Lore Inc
City Lore Inc (EIN: 112740189) is a nonprofit organization based in New York, NY, classified under NTEE code A200. The organization reported total revenue of $3.8M and total assets of $3.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of City Lore Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
City Lore Inc is a mid-size nonprofit that has been operating for 39 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.8M |
| Total Expenses | $3.3M |
| Surplus / Deficit | $-579,512 |
| Total Assets | $3.4M |
| Total Liabilities | $1.7M |
| Net Assets | $1.8M |
| Operating Margin | -20.9% |
| Debt-to-Asset Ratio | 48.5% |
| Months of Reserves | 12.2 months |
Financial Health Grade: B
In 2023, City Lore Inc reported a deficit of $580K with expenses exceeding revenue, holds 12.2 months of operating reserves (strong position), has a debt-to-asset ratio of 48.5% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), City Lore Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -22.8% | +10.1% | -14.9% |
| 2022 | -20.6% | -24.7% | +103.5% |
| 2021 | +40.9% | +20.0% | +30.6% |
| 2020 | +4.4% | +21.6% | -28.3% |
| 2019 | +6.9% | +7.8% | +18.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 City Lore 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, City Lore Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $580K, with expenses exceeding revenue.
- Debt-to-asset ratio: 48.5%.
Executive Compensation Analysis
City Lore Inc. consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and revenue, suggesting either volunteer leadership or compensation structured outside of typical officer reporting on the 990.
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 City Lore Inc's IRS 990 filings:
- Significant deficit in the most recent fiscal year (202312) where expenses exceeded revenue by $579,512.
- Substantial increase in liabilities from $114,680 in 202112 to $1,650,488 in 202312, which could indicate increased debt or financial obligations.
- Consistent 0% reported officer compensation, which is highly unusual for an organization of this size and could mask executive compensation if structured differently.
Strengths
The following positive indicators were identified for City Lore Inc:
- Strong asset base, growing from $1,277,224 in 201412 to $3,405,216 in 202312, indicating financial resilience.
- History of multi-million dollar revenues, demonstrating capacity to attract significant funding.
- Consistent reporting of 0% officer compensation, suggesting a potential commitment to directing funds towards mission-related activities.
Frequently Asked Questions about City Lore Inc
Is City Lore Inc a legitimate charity?
City Lore Inc (EIN: 112740189) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $3.8M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does City Lore Inc spend its money?
City Lore Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to City Lore Inc tax-deductible?
City Lore Inc is registered as a tax-exempt nonprofit (EIN: 112740189). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of City Lore Inc's spending goes to programs?
City Lore Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does City Lore Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), City Lore Inc is above average for NTEE category A200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is City Lore Inc located?
City Lore Inc is headquartered in New York, New York and files with the IRS under EIN 112740189. It is classified under NTEE code A200.
How many years of IRS 990 filings does City Lore Inc have?
City Lore Inc has 14 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 $3.8M in total revenue.
Is City Lore Inc. a good charity?
City Lore Inc. demonstrates a commitment to its mission through consistent programming and a history of significant revenue. The 0% reported officer compensation is a positive sign for resource allocation. However, the recent deficit in 2023 and the substantial increase in liabilities warrant closer examination to fully assess its long-term financial health and efficiency.
Why are liabilities so high in recent years?
Liabilities jumped from $114,680 in 202112 to $1,670,512 in 202212 and remained high at $1,650,488 in 202312. The IRS 990 would need to be reviewed in detail to understand the specific nature of these liabilities (e.g., program-related debt, capital expenditures, deferred revenue).
How does City Lore Inc. fund its operations if officer compensation is 0%?
The consistent reporting of 0% officer compensation suggests that either the organization's leadership is entirely volunteer-based, or compensation for key personnel is categorized differently on the 990, such as through independent contractor fees or other staff salaries not specifically designated as 'officer compensation'. Further investigation into the detailed expense breakdown would be necessary.
Is the 2023 deficit a concern?
The $579,512 deficit in 202312 (expenses of $3,348,649 exceeding revenue of $2,769,137) is a concern, especially following a surplus in 202212. While one year's deficit isn't necessarily critical, it indicates that expenses outpaced income, which if sustained, could impact financial stability.
Filing History
IRS 990 filing history for City Lore Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), City Lore Inc's revenue has grown by 84.9%, moving from $1.5M to $2.8M. Total assets increased by 279.8% over the same period, from $897K to $3.4M. Total functional expenses rose by 87.3%, from $1.8M to $3.3M. In its most recent filing year (2023), City Lore Inc reported a deficit of $580K, with expenses exceeding revenue. The organization holds $1.7M in liabilities against $3.4M in assets (debt-to-asset ratio: 48.5%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.8M | $3.3M | $3.4M | $1.7M | — | — |
| 2022 | $3.6M | $3.0M | $4.0M | $1.7M | — | View 990 |
| 2021 | $4.5M | $4.0M | $2.0M | $115K | — | View 990 |
| 2020 | $3.2M | $3.4M | $1.5M | $140K | — | View 990 |
| 2019 | $3.1M | $2.8M | $2.1M | $83K | — | View 990 |
| 2018 | $2.9M | $2.6M | $1.8M | $78K | — | View 990 |
| 2017 | $3.0M | $2.6M | $1.7M | $136K | — | View 990 |
| 2016 | $3.1M | $2.8M | $1.4M | $275K | — | View 990 |
| 2015 | $2.2M | $2.5M | $1.0M | $176K | — | View 990 |
| 2014 | $2.2M | $2.1M | $1.3M | $61K | — | View 990 |
| 2013 | $2.4M | $2.7M | $1.1M | $58K | — | View 990 |
| 2012 | $3.1M | $2.5M | $1.5M | $82K | — | View 990 |
| 2011 | $1.4M | $1.5M | $811K | $49K | — | View 990 |
| 2010 | $1.5M | $1.8M | $897K | $55K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.8M, expenses of $3.3M, and assets of $3.4M (revenue -22.8% year-over-year).
- 2022: Revenue of $3.6M, expenses of $3.0M, and assets of $4.0M (revenue -20.6% year-over-year).
- 2021: Revenue of $4.5M, expenses of $4.0M, and assets of $2.0M (revenue +40.9% year-over-year).
- 2020: Revenue of $3.2M, expenses of $3.4M, and assets of $1.5M (revenue +4.4% year-over-year).
- 2019: Revenue of $3.1M, expenses of $2.8M, and assets of $2.1M (revenue +6.9% year-over-year).
- 2018: Revenue of $2.9M, expenses of $2.6M, and assets of $1.8M (revenue -5.3% year-over-year).
- 2017: Revenue of $3.0M, expenses of $2.6M, and assets of $1.7M (revenue -1.5% year-over-year).
- 2016: Revenue of $3.1M, expenses of $2.8M, and assets of $1.4M (revenue +41.4% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.5M, and assets of $1.0M (revenue -1.3% year-over-year).
- 2014: Revenue of $2.2M, expenses of $2.1M, and assets of $1.3M (revenue -8.8% year-over-year).
- 2013: Revenue of $2.4M, expenses of $2.7M, and assets of $1.1M (revenue -21.7% year-over-year).
- 2012: Revenue of $3.1M, expenses of $2.5M, and assets of $1.5M (revenue +116.2% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.5M, and assets of $811K (revenue -4.7% year-over-year).
- 2010: Revenue of $1.5M, expenses of $1.8M, and assets of $897K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for City Lore Inc:
Data Sources and Methodology
This transparency report for City Lore 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.