Fdny Foundation
FDNY Foundation maintains strong assets despite fluctuating annual revenues and no reported officer compensation.
EIN: 112632404 · Brooklyn, NY · NTEE: M112 · Updated: 2026-03-28
Is Fdny Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fdny Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fdny Foundation
Fdny Foundation (EIN: 112632404) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code M112. The organization reported total revenue of $9.7M and total assets of $26.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fdny Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fdny Foundation is a mid-size nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.0M |
| Total Expenses | $8.9M |
| Surplus / Deficit | $-898,130 |
| Total Assets | $27.5M |
| Total Liabilities | $2.7M |
| Net Assets | $24.8M |
| Operating Margin | -11.2% |
| Debt-to-Asset Ratio | 9.8% |
| Months of Reserves | 37.1 months |
Financial Health Grade: B
In 2023, Fdny Foundation reported a deficit of $898K with expenses exceeding revenue, holds 37.1 months of operating reserves (strong position), has a debt-to-asset ratio of 9.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Fdny Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -24.3% | +-0.0% | +9.3% |
| 2022 | +31.4% | -0.1% | -2.8% |
| 2021 | -15.0% | +41.6% | +7.9% |
| 2020 | +16.6% | -27.7% | +12.1% |
| 2019 | -8.5% | +33.5% | +36.4% |
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 Fdny Foundation 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, Fdny Foundation 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 $898K, with expenses exceeding revenue.
- Debt-to-asset ratio: 9.8%.
Executive Compensation Analysis
The FDNY Foundation consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization with annual revenues approaching $10 million and suggests a strong commitment to directing funds towards its mission rather than executive salaries.
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 Fdny Foundation's IRS 990 filings:
- Consistent annual deficits in some periods (e.g., 202306, 202106, 201906, 201506) could indicate reliance on reserves or inconsistent fundraising performance.
- The consistent reporting of 0% officer compensation, while positive for efficiency, warrants further inquiry to understand the full compensation structure for key personnel.
Strengths
The following positive indicators were identified for Fdny Foundation:
- Strong and consistent asset growth, from $11.5M in 2014 to $27.4M in 2023, indicating robust financial management and reserves.
- No reported officer compensation across all filings, suggesting high efficiency in directing funds to programs.
- Consistent revenue generation, generally between $8-10 million annually, demonstrating a stable funding base.
- Manageable liabilities relative to assets, indicating good financial health and low risk.
Frequently Asked Questions about Fdny Foundation
Is Fdny Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Fdny Foundation (EIN: 112632404) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Fdny Foundation spend its money?
Fdny Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fdny Foundation tax-deductible?
Fdny Foundation is registered as a tax-exempt nonprofit (EIN: 112632404). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the FDNY Foundation manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this size. It could indicate that executive leadership is entirely volunteer-based, compensated through a related entity, or that compensation is structured in a way that it is not reported as 'officer compensation' on the 990 form. Further investigation into their operational structure would be needed to fully understand this.
Is the recent deficit in 202306 a concern for the organization's long-term financial health?
While the 202306 filing shows expenses ($8,886,368) exceeding revenue ($7,988,238), the organization has a strong and growing asset base ($27,482,885). This suggests that the deficit is likely covered by reserves and does not immediately threaten long-term financial health, especially given prior years' surpluses.
How has the FDNY Foundation's asset growth contributed to its stability?
The organization's assets have grown significantly from $11,524,481 in 2014 to $27,482,885 in 2023. This substantial growth provides a strong financial cushion, enabling the foundation to absorb occasional operating deficits and invest in its mission over the long term.
Filing History
IRS 990 filing history for Fdny Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fdny Foundation's revenue has grown by 45.8%, moving from $5.5M to $8.0M. Total assets increased by 147.7% over the same period, from $11.1M to $27.5M. Total functional expenses rose by 65.5%, from $5.4M to $8.9M. In its most recent filing year (2023), Fdny Foundation reported a deficit of $898K, with expenses exceeding revenue. The organization holds $2.7M in liabilities against $27.5M in assets (debt-to-asset ratio: 9.8%), resulting in net assets of $24.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.0M | $8.9M | $27.5M | $2.7M | — | — |
| 2022 | $10.5M | $8.9M | $25.1M | $1.7M | — | View 990 |
| 2021 | $8.0M | $8.9M | $25.9M | $2.3M | — | View 990 |
| 2020 | $9.4M | $6.3M | $24.0M | $1.4M | — | View 990 |
| 2019 | $8.1M | $8.7M | $21.4M | $2.0M | — | View 990 |
| 2018 | $8.9M | $6.5M | $15.7M | $1.8M | — | View 990 |
| 2017 | $8.2M | $7.3M | $13.6M | $2.2M | — | View 990 |
| 2016 | $7.8M | $7.4M | $11.6M | $1.5M | — | View 990 |
| 2015 | $6.0M | $6.2M | $11.6M | $1.7M | — | View 990 |
| 2014 | $5.4M | $5.3M | $11.5M | $1.4M | — | View 990 |
| 2013 | $6.2M | $6.2M | $10.9M | $1.1M | — | View 990 |
| 2012 | $5.4M | $4.8M | $10.8M | $1.2M | — | View 990 |
| 2011 | $5.5M | $5.4M | $11.1M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.0M, expenses of $8.9M, and assets of $27.5M (revenue -24.3% year-over-year).
- 2022: Revenue of $10.5M, expenses of $8.9M, and assets of $25.1M (revenue +31.4% year-over-year).
- 2021: Revenue of $8.0M, expenses of $8.9M, and assets of $25.9M (revenue -15.0% year-over-year).
- 2020: Revenue of $9.4M, expenses of $6.3M, and assets of $24.0M (revenue +16.6% year-over-year).
- 2019: Revenue of $8.1M, expenses of $8.7M, and assets of $21.4M (revenue -8.5% year-over-year).
- 2018: Revenue of $8.9M, expenses of $6.5M, and assets of $15.7M (revenue +8.0% year-over-year).
- 2017: Revenue of $8.2M, expenses of $7.3M, and assets of $13.6M (revenue +4.5% year-over-year).
- 2016: Revenue of $7.8M, expenses of $7.4M, and assets of $11.6M (revenue +30.1% year-over-year).
- 2015: Revenue of $6.0M, expenses of $6.2M, and assets of $11.6M (revenue +11.3% year-over-year).
- 2014: Revenue of $5.4M, expenses of $5.3M, and assets of $11.5M (revenue -12.4% year-over-year).
- 2013: Revenue of $6.2M, expenses of $6.2M, and assets of $10.9M (revenue +14.4% year-over-year).
- 2012: Revenue of $5.4M, expenses of $4.8M, and assets of $10.8M (revenue -1.2% year-over-year).
- 2011: Revenue of $5.5M, expenses of $5.4M, and assets of $11.1M.
Data Sources and Methodology
This transparency report for Fdny 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.