Corlears School
Corlears School faces recent operational deficits and rising liabilities despite substantial assets.
EIN: 135653140 · New York, NY · NTEE: B240 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.2M |
| Total Expenses | $8.5M |
| Program Spending | 80% |
| Net Assets | $-22,424 |
| Transparency Score | 70/100 |
Is Corlears School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corlears School directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Corlears School
Corlears School (EIN: 135653140) is a nonprofit organization based in New York, NY, classified under NTEE code B240. The organization reported total revenue of $7.2M and total assets of $10.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corlears School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corlears School is a mid-size nonprofit that has been operating for 68 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.1M |
| Total Expenses | $8.5M |
| Surplus / Deficit | $-1,348,554 |
| Total Assets | $11.9M |
| Total Liabilities | $11.9M |
| Net Assets | $-22,424 |
| Operating Margin | -18.9% |
| Debt-to-Asset Ratio | 100.2% |
| Months of Reserves | 16.8 months |
Financial Health Grade: C
In 2023, Corlears School reported a deficit of $1.3M with expenses exceeding revenue, holds 16.8 months of operating reserves (strong position), has a debt-to-asset ratio of 100.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Corlears School's revenue has grown at a compound annual growth rate (CAGR) of 2.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.1% | -1.6% | +11.9% |
| 2022 | -27.2% | +4.8% | -11.2% |
| 2021 | +7.4% | +4.7% | -10.2% |
| 2020 | +1.7% | +1.7% | +2.8% |
| 2019 | +0.4% | +5.2% | -2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1958 |
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 Corlears School with a Mission Score of 70 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, Corlears School 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 $1.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 100.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers received reportable compensation from the organization, which is a positive sign for minimizing administrative costs at the top level.
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 Corlears School's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., $1.3M in 2023, $2.4M in 2022).
- High and increasing liabilities, nearly matching total assets in 2023 ($11,890,090 liabilities vs. $11,867,666 assets).
Strengths
The following positive indicators were identified for Corlears School:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds at the executive level.
- Maintains a substantial asset base (over $10 million consistently).
- Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Frequently Asked Questions about Corlears School
Is Corlears School a legitimate charity?
Based on AI analysis of IRS 990 filings, Corlears School (EIN: 135653140) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Corlears School spend its money?
Corlears School directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Corlears School tax-deductible?
Corlears School is registered as a tax-exempt nonprofit (EIN: 135653140). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Corlears School's spending goes to programs?
Corlears School directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Corlears School compare to similar nonprofits?
With a transparency score of 70/100 (Good), Corlears School is above average for NTEE category B240 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Corlears School located?
Corlears School is headquartered in New York, New York and files with the IRS under EIN 135653140. It is classified under NTEE code B240.
How many years of IRS 990 filings does Corlears School have?
Corlears School has 13 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 $7.2M in total revenue.
Is Corlears School financially stable?
While Corlears School maintains substantial assets (e.g., $11,867,666 in 2023), it has experienced operational deficits in recent years, with expenses exceeding revenue by over $1.3 million in 2023 and over $2.4 million in 2022. Liabilities have also increased, reaching $11,890,090 in 2023, which is nearly equal to its assets, suggesting potential long-term stability concerns if these trends continue.
How does Corlears School manage executive compensation?
Corlears School consistently reports 0% officer compensation in all available IRS 990 filings, indicating that no officers received reportable compensation from the organization. This suggests a strong commitment to directing funds towards its mission rather than executive salaries.
What is the trend in Corlears School's revenue and expenses?
Revenue has fluctuated, with a high of $8,454,050 in 2021 and a low of $6,016,836 in 2014. Expenses have generally increased over time, reaching $8,490,520 in 2023. In the most recent two periods (2022 and 2023), expenses significantly outpaced revenue, leading to net losses.
Are Corlears School's liabilities a concern?
Yes, liabilities have shown an upward trend, reaching $11,890,090 in 2023, which is very close to its total assets of $11,867,666 for the same period. This high debt-to-asset ratio could be a concern for financial flexibility and long-term solvency if not managed effectively.
Filing History
IRS 990 filing history for Corlears School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Corlears School's revenue has grown by 36.3%, moving from $5.2M to $7.1M. Total assets decreased by 27.5% over the same period, from $16.4M to $11.9M. Total functional expenses rose by 57.2%, from $5.4M to $8.5M. In its most recent filing year (2023), Corlears School reported a deficit of $1.3M, with expenses exceeding revenue. The organization holds $11.9M in liabilities against $11.9M in assets (debt-to-asset ratio: 100.2%), resulting in net assets of $-22,424.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.1M | $8.5M | $11.9M | $11.9M | — | View 990 |
| 2022 | $6.2M | $8.6M | $10.6M | $9.3M | — | View 990 |
| 2021 | $8.5M | $8.2M | $11.9M | $8.2M | — | View 990 |
| 2020 | $7.9M | $7.9M | $13.3M | $9.7M | — | View 990 |
| 2019 | $7.7M | $7.7M | $12.9M | $9.4M | — | View 990 |
| 2018 | $7.7M | $7.4M | $13.3M | $9.7M | — | View 990 |
| 2017 | $6.6M | $6.6M | $12.8M | $9.6M | — | View 990 |
| 2016 | $6.3M | $6.5M | $13.9M | $10.7M | — | View 990 |
| 2015 | $6.1M | $6.2M | $14.3M | $10.9M | — | View 990 |
| 2014 | $6.0M | $6.3M | $14.7M | $11.2M | — | View 990 |
| 2013 | $6.1M | $6.1M | $15.2M | $11.5M | — | View 990 |
| 2012 | $5.7M | $6.3M | $16.4M | $12.3M | — | View 990 |
| 2011 | $5.2M | $5.4M | $16.4M | $11.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.1M, expenses of $8.5M, and assets of $11.9M (revenue +16.1% year-over-year).
- 2022: Revenue of $6.2M, expenses of $8.6M, and assets of $10.6M (revenue -27.2% year-over-year).
- 2021: Revenue of $8.5M, expenses of $8.2M, and assets of $11.9M (revenue +7.4% year-over-year).
- 2020: Revenue of $7.9M, expenses of $7.9M, and assets of $13.3M (revenue +1.7% year-over-year).
- 2019: Revenue of $7.7M, expenses of $7.7M, and assets of $12.9M (revenue +0.4% year-over-year).
- 2018: Revenue of $7.7M, expenses of $7.4M, and assets of $13.3M (revenue +17.3% year-over-year).
- 2017: Revenue of $6.6M, expenses of $6.6M, and assets of $12.8M (revenue +3.8% year-over-year).
- 2016: Revenue of $6.3M, expenses of $6.5M, and assets of $13.9M (revenue +3.6% year-over-year).
- 2015: Revenue of $6.1M, expenses of $6.2M, and assets of $14.3M (revenue +1.5% year-over-year).
- 2014: Revenue of $6.0M, expenses of $6.3M, and assets of $14.7M (revenue -1.1% year-over-year).
- 2013: Revenue of $6.1M, expenses of $6.1M, and assets of $15.2M (revenue +7.4% year-over-year).
- 2012: Revenue of $5.7M, expenses of $6.3M, and assets of $16.4M (revenue +8.2% year-over-year).
- 2011: Revenue of $5.2M, expenses of $5.4M, and assets of $16.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corlears School:
Data Sources and Methodology
This transparency report for Corlears School 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.