Financial Service Centers Of New York Inc A Trade Association
Trade Association Faces Declining Revenue and Increasing Liabilities, Reporting Net Losses in Recent Years.
EIN: 136110520 · Washington, DC · Updated: 2026-03-28
Is Financial Service Centers Of New York Inc A Trade Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Financial Service Centers Of New York Inc A Trade Association directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Financial Service Centers Of New York Inc A Trade Association
Financial Service Centers Of New York Inc A Trade Association (EIN: 136110520) is a nonprofit organization based in Washington, DC. The organization reported total revenue of $444K and total assets of $89K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Financial Service Centers Of New York Inc A Trade Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Financial Service Centers Of New York Inc A Trade Association is a small 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 -5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $591K |
| Total Expenses | $768K |
| Surplus / Deficit | $-176,726 |
| Total Assets | $132K |
| Total Liabilities | $200K |
| Net Assets | $-67,973 |
| Operating Margin | -29.9% |
| Debt-to-Asset Ratio | 151.5% |
| Months of Reserves | 2.1 months |
Financial Health Grade: D
In 2023, Financial Service Centers Of New York Inc A Trade Association reported a deficit of $177K with expenses exceeding revenue, holds 2.1 months of operating reserves (limited), has a debt-to-asset ratio of 151.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Financial Service Centers Of New York Inc A Trade Association's revenue has declined at a compound annual growth rate (CAGR) of -5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.3% | +19.5% | +21.4% |
| 2022 | +65.4% | +54.6% | +28.9% |
| 2021 | -2.5% | -5.4% | -12.8% |
| 2020 | -43.6% | -45.6% | -21.1% |
| 2019 | -14.3% | -13.2% | -35.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Financial Service Centers Of New York Inc A Trade Association with a Mission Score of 65 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Financial Service Centers Of New York Inc A Trade Association allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $177K, with expenses exceeding revenue.
- Debt-to-asset ratio: 151.5%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% of expenses across all available filings, indicating that the organization's officers are not compensated, which is highly unusual for an organization with revenues often exceeding $500,000.
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 Financial Service Centers Of New York Inc A Trade Association's IRS 990 filings:
- Consistent net losses in recent years (e.g., 2023: -$176,726; 2021: -$12,341; 2020: -$25,840).
- Significant increase in liabilities to $200,000 in 2023 after several years of reporting $0.
- Declining revenue trend from a peak of over $1 million in 2015-2017 to $591,202 in 2023.
- Decreasing asset base from $515,397 in 2015 to $132,027 in 2023, indicating asset depletion.
Strengths
The following positive indicators were identified for Financial Service Centers Of New York Inc A Trade Association:
- Consistent filing of IRS Form 990s, demonstrating regulatory compliance.
- Reported 0% officer compensation across all filings, suggesting a lean approach to executive pay.
- Maintained operations for over a decade despite financial fluctuations.
Frequently Asked Questions about Financial Service Centers Of New York Inc A Trade Association
Is Financial Service Centers Of New York Inc A Trade Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Financial Service Centers Of New York Inc A Trade Association (EIN: 136110520) some concerns. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.
How does Financial Service Centers Of New York Inc A Trade Association spend its money?
Financial Service Centers Of New York Inc A Trade Association directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Financial Service Centers Of New York Inc A Trade Association tax-deductible?
Financial Service Centers Of New York Inc A Trade Association is registered as a tax-exempt nonprofit (EIN: 136110520). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why did liabilities increase to $200,000 in 2023 after several years of reporting $0?
The sudden appearance of $200,000 in liabilities in 2023, following years of zero liabilities, is a significant financial shift that requires further investigation into the nature of these obligations (e.g., loans, deferred revenue, accounts payable).
What is the detailed breakdown of expenses (program, administrative, fundraising) for recent years?
Without a detailed breakdown of expenses, it's challenging to fully assess the organization's spending efficiency and how much of its budget is directly allocated to its core mission activities versus overhead.
How does the organization plan to address the consistent net losses experienced in recent fiscal periods?
The organization has reported expenses exceeding revenue in multiple recent years (e.g., 2023, 2021, 2020, 2019, 2018, 2017, 2016), indicating a trend of operating at a deficit which is unsustainable long-term without drawing down assets or incurring debt.
What is the reason for the consistent 0% officer compensation, and how are key leadership roles sustained?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size and suggests that leadership may be entirely volunteer-based or compensated through other means not reflected in this line item, which warrants clarification for full transparency.
Filing History
IRS 990 filing history for Financial Service Centers Of New York Inc A Trade Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Financial Service Centers Of New York Inc A Trade Association's revenue has declined by 45.6%, moving from $1.1M to $591K. Total assets increased by 32.1% over the same period, from $100K to $132K. Total functional expenses fell by 25.5%, from $1.0M to $768K. In its most recent filing year (2023), Financial Service Centers Of New York Inc A Trade Association reported a deficit of $177K, with expenses exceeding revenue. The organization holds $200K in liabilities against $132K in assets (debt-to-asset ratio: 151.5%), resulting in net assets of $-67,973.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $591K | $768K | $132K | $200K | — | — |
| 2022 | $667K | $642K | $109K | $0 | — | View 990 |
| 2021 | $403K | $416K | $84K | $0 | — | View 990 |
| 2020 | $413K | $439K | $97K | $0 | — | — |
| 2019 | $733K | $807K | $123K | $0 | — | View 990 |
| 2018 | $855K | $930K | $189K | $0 | — | View 990 |
| 2017 | $931K | $1.1M | $263K | $0 | — | View 990 |
| 2016 | $997K | $1.1M | $402K | $9K | — | View 990 |
| 2015 | $1.0M | $839K | $515K | $2K | — | View 990 |
| 2014 | $1.0M | $855K | $312K | $0 | — | View 990 |
| 2013 | $1.0M | $919K | $147K | $0 | — | View 990 |
| 2012 | $960K | $1.0M | $41K | $0 | — | View 990 |
| 2011 | $1.1M | $1.0M | $100K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $591K, expenses of $768K, and assets of $132K (revenue -11.3% year-over-year).
- 2022: Revenue of $667K, expenses of $642K, and assets of $109K (revenue +65.4% year-over-year).
- 2021: Revenue of $403K, expenses of $416K, and assets of $84K (revenue -2.5% year-over-year).
- 2020: Revenue of $413K, expenses of $439K, and assets of $97K (revenue -43.6% year-over-year).
- 2019: Revenue of $733K, expenses of $807K, and assets of $123K (revenue -14.3% year-over-year).
- 2018: Revenue of $855K, expenses of $930K, and assets of $189K (revenue -8.1% year-over-year).
- 2017: Revenue of $931K, expenses of $1.1M, and assets of $263K (revenue -6.6% year-over-year).
- 2016: Revenue of $997K, expenses of $1.1M, and assets of $402K (revenue -4.3% year-over-year).
- 2015: Revenue of $1.0M, expenses of $839K, and assets of $515K (revenue +2.1% year-over-year).
- 2014: Revenue of $1.0M, expenses of $855K, and assets of $312K (revenue -0.5% year-over-year).
- 2013: Revenue of $1.0M, expenses of $919K, and assets of $147K (revenue +6.7% year-over-year).
- 2012: Revenue of $960K, expenses of $1.0M, and assets of $41K (revenue -11.7% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.0M, and assets of $100K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Financial Service Centers Of New York Inc A Trade Association:
Data Sources and Methodology
This transparency report for Financial Service Centers Of New York Inc A Trade Association 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.