Fashion Institute Of Techology Foundation
Fashion Institute Of Technology Foundation maintains strong assets despite fluctuating revenues and occasional operating deficits.
EIN: 135675757 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $20.3M |
| Total Expenses | $5.6M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $75 |
| Net Assets | $67.7M |
| Transparency Score | 85/100 |
Is Fashion Institute Of Techology Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fashion Institute Of Techology Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fashion Institute Of Techology Foundation
Fashion Institute Of Techology Foundation (EIN: 135675757) is a nonprofit organization based in New York, NY. The organization reported total revenue of $20.3M and total assets of $75.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fashion Institute Of Techology Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fashion Institute Of Techology Foundation is a large nonprofit that has been operating for 80 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.3M |
| Total Expenses | $5.6M |
| Surplus / Deficit | $-356,609 |
| Total Assets | $69.0M |
| Total Liabilities | $1.3M |
| Net Assets | $67.7M |
| Operating Margin | -6.8% |
| Debt-to-Asset Ratio | 1.9% |
| Months of Reserves | 147.6 months |
Financial Health Grade: B
In 2023, Fashion Institute Of Techology Foundation reported a deficit of $357K with expenses exceeding revenue, holds 147.6 months of operating reserves (strong position), has a debt-to-asset ratio of 1.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Fashion Institute Of Techology Foundation's revenue has declined at a compound annual growth rate (CAGR) of -1.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -55.7% | +45.3% | +4.2% |
| 2022 | +141.7% | +4.9% | -0.1% |
| 2021 | -42.8% | -19.7% | +14.3% |
| 2020 | +21.8% | -24.7% | +9.1% |
| 2019 | -6.3% | +12.5% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1946 |
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 Fashion Institute Of Techology Foundation 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: 80%
- fundraising: 10%
According to IRS 990 filings, Fashion Institute Of Techology Foundation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. 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 $357K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officer salaries are paid directly by the foundation, which is highly commendable for an organization of its size with assets exceeding $75 million.
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 Fashion Institute Of Techology Foundation's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing (202306), with $5,608,981 in expenses against $5,252,372 in revenue.
Strengths
The following positive indicators were identified for Fashion Institute Of Techology Foundation:
- Consistently reported 0% officer compensation across all filings, demonstrating excellent financial stewardship.
- Strong asset base, with latest reported assets at $75,238,646, providing long-term stability.
- Low liabilities relative to assets, indicating a healthy balance sheet.
- Significant revenue generation, with a peak of nearly $12 million in 202206.
Frequently Asked Questions about Fashion Institute Of Techology Foundation
Is Fashion Institute Of Techology Foundation a legitimate charity?
Fashion Institute Of Techology Foundation (EIN: 135675757) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $20.3M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Fashion Institute Of Techology Foundation spend its money?
Fashion Institute Of Techology Foundation directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Fashion Institute Of Techology Foundation tax-deductible?
Fashion Institute Of Techology Foundation is registered as a tax-exempt nonprofit (EIN: 135675757). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Fashion Institute Of Techology Foundation CEO make?
Fashion Institute Of Techology Foundation's highest-compensated officer earns $75 annually. The organization reported $20.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Fashion Institute Of Techology Foundation's spending goes to programs?
Fashion Institute Of Techology Foundation directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Fashion Institute Of Techology Foundation located?
Fashion Institute Of Techology Foundation is headquartered in New York, New York and files with the IRS under EIN 135675757.
How many years of IRS 990 filings does Fashion Institute Of Techology Foundation have?
Fashion Institute Of Techology Foundation 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 $20.3M in total revenue.
Is the Fashion Institute Of Technology Foundation financially stable?
Yes, the foundation appears financially stable, with substantial assets of $75,238,646 and relatively low liabilities, providing a strong financial base despite some fluctuations in annual revenue and expenses.
How does the foundation manage executive compensation?
The foundation reports 0% officer compensation in all available filings, indicating a highly efficient approach to executive pay, likely relying on institutional support or volunteer leadership for these roles.
What is the trend in the foundation's revenue?
Revenue has fluctuated significantly, from a high of $11,865,196 in 202206 to $5,252,372 in 202306, suggesting variability in fundraising or investment income.
Filing History
IRS 990 filing history for Fashion Institute Of Techology Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fashion Institute Of Techology Foundation's revenue has declined by 16.1%, moving from $6.3M to $5.3M. Total assets increased by 85% over the same period, from $37.3M to $69.0M. Total functional expenses rose by 3%, from $5.4M to $5.6M. In its most recent filing year (2023), Fashion Institute Of Techology Foundation reported a deficit of $357K, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $69.0M in assets (debt-to-asset ratio: 1.9%), resulting in net assets of $67.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.3M | $5.6M | $69.0M | $1.3M | — | — |
| 2022 | $11.9M | $3.9M | $66.2M | $1.4M | — | View 990 |
| 2021 | $4.9M | $3.7M | $66.3M | $1.9M | — | View 990 |
| 2020 | $8.6M | $4.6M | $58.0M | $2.7M | — | View 990 |
| 2019 | $7.0M | $6.1M | $53.2M | $1.8M | — | View 990 |
| 2018 | $7.5M | $5.4M | $53.7M | $1.6M | — | View 990 |
| 2017 | $7.2M | $5.7M | $54.6M | $3.5M | — | View 990 |
| 2016 | $5.5M | $5.9M | $48.7M | $1.4M | — | View 990 |
| 2015 | $6.0M | $6.3M | $54.4M | $4.7M | — | View 990 |
| 2014 | $6.3M | $4.5M | $51.8M | $1.8M | — | View 990 |
| 2013 | $9.8M | $4.9M | $45.7M | $1.5M | — | View 990 |
| 2012 | $11.3M | $5.0M | $38.6M | $829K | — | View 990 |
| 2011 | $6.3M | $5.4M | $37.3M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.3M, expenses of $5.6M, and assets of $69.0M (revenue -55.7% year-over-year).
- 2022: Revenue of $11.9M, expenses of $3.9M, and assets of $66.2M (revenue +141.7% year-over-year).
- 2021: Revenue of $4.9M, expenses of $3.7M, and assets of $66.3M (revenue -42.8% year-over-year).
- 2020: Revenue of $8.6M, expenses of $4.6M, and assets of $58.0M (revenue +21.8% year-over-year).
- 2019: Revenue of $7.0M, expenses of $6.1M, and assets of $53.2M (revenue -6.3% year-over-year).
- 2018: Revenue of $7.5M, expenses of $5.4M, and assets of $53.7M (revenue +5.1% year-over-year).
- 2017: Revenue of $7.2M, expenses of $5.7M, and assets of $54.6M (revenue +30.9% year-over-year).
- 2016: Revenue of $5.5M, expenses of $5.9M, and assets of $48.7M (revenue -8.9% year-over-year).
- 2015: Revenue of $6.0M, expenses of $6.3M, and assets of $54.4M (revenue -5.2% year-over-year).
- 2014: Revenue of $6.3M, expenses of $4.5M, and assets of $51.8M (revenue -35.3% year-over-year).
- 2013: Revenue of $9.8M, expenses of $4.9M, and assets of $45.7M (revenue -13.1% year-over-year).
- 2012: Revenue of $11.3M, expenses of $5.0M, and assets of $38.6M (revenue +79.7% year-over-year).
- 2011: Revenue of $6.3M, expenses of $5.4M, and assets of $37.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fashion Institute Of Techology Foundation:
Data Sources and Methodology
This transparency report for Fashion Institute Of Techology Foundation 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.