Hanac Spiti Management Company Inc
Hanac Spiti Management Company Inc consistently operates with tight margins and no reported officer compensation, showing significant asset growth.
EIN: 113166843 · New York, NY · NTEE: L02 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $2.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $70K |
| Transparency Score | 85/100 |
Is Hanac Spiti Management Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hanac Spiti Management Company Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hanac Spiti Management Company Inc
Hanac Spiti Management Company Inc (EIN: 113166843) is a nonprofit organization based in New York, NY, classified under NTEE code L02. The organization reported total revenue of $2.2M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hanac Spiti Management Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hanac Spiti Management Company Inc is a mid-size nonprofit that has been operating for 25 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.1M |
| Surplus / Deficit | +$20K |
| Total Assets | $1.7M |
| Total Liabilities | $1.6M |
| Net Assets | $70K |
| Operating Margin | 0.9% |
| Debt-to-Asset Ratio | 95.8% |
| Months of Reserves | 9.5 months |
Financial Health Grade: A
In 2023, Hanac Spiti Management Company Inc reported a surplus of $20K with revenue exceeding expenses, holds 9.5 months of operating reserves (strong position), has a debt-to-asset ratio of 95.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hanac Spiti Management Company Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.4% | -8.1% | +45.6% |
| 2022 | +4.4% | +4.2% | +69.7% |
| 2021 | +1.7% | +1.7% | +49.0% |
| 2020 | +7.6% | +7.0% | +43.0% |
| 2019 | +24.7% | +24.7% | +63.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
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 Hanac Spiti Management Company Inc 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: 90%
- fundraising: 0%
According to IRS 990 filings, Hanac Spiti Management Company Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 surplus of $20K, with revenue exceeding expenses.
- Debt-to-asset ratio: 95.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all 13 filings, indicating that executive leadership is either unpaid or compensated through other means not categorized as officer compensation, which is highly unusual for an organization of its size with over $2 million in annual revenue.
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 Hanac Spiti Management Company Inc's IRS 990 filings:
- Consistent 0% officer compensation is unusual for an organization of this size, potentially obscuring how leadership is compensated or indicating a volunteer-led structure that may not be sustainable long-term.
- Liabilities have grown significantly alongside assets, with liabilities ($1,611,490 in 202306) being a substantial portion of assets ($1,681,371 in 202306), indicating a high reliance on debt or other obligations.
Strengths
The following positive indicators were identified for Hanac Spiti Management Company Inc:
- Strong program spending efficiency, with expenses consistently matching revenues, indicating funds are directly utilized for operations.
- Significant and consistent asset growth over the past decade, from $77,456 in 201406 to $1,681,371 in 202306.
- Consistent filing of IRS 990s over 13 periods demonstrates a commitment to regulatory compliance and transparency.
- No reported officer compensation, which can be seen as a positive for donor confidence regarding administrative overhead.
Frequently Asked Questions about Hanac Spiti Management Company Inc
Is Hanac Spiti Management Company Inc a legitimate charity?
Hanac Spiti Management Company Inc (EIN: 113166843) 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: $2.2M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Hanac Spiti Management Company Inc spend its money?
Hanac Spiti Management Company Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Hanac Spiti Management Company Inc tax-deductible?
Hanac Spiti Management Company Inc is registered as a tax-exempt nonprofit (EIN: 113166843). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hanac Spiti Management Company Inc CEO make?
Hanac Spiti Management Company Inc's highest-compensated officer earns $2 annually. The organization reported $2.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Hanac Spiti Management Company Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Hanac Spiti Management Company Inc is above average for NTEE category L02 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hanac Spiti Management Company Inc located?
Hanac Spiti Management Company Inc is headquartered in New York, New York and files with the IRS under EIN 113166843. It is classified under NTEE code L02.
How many years of IRS 990 filings does Hanac Spiti Management Company Inc have?
Hanac Spiti Management Company Inc 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 $2.2M in total revenue.
Is Hanac Spiti Management Company Inc financially stable?
Yes, the organization appears financially stable, consistently managing expenses close to revenue and demonstrating significant asset growth from $77,456 in 201406 to $1,681,371 in 202306.
How does Hanac Spiti Management Company Inc manage executive compensation?
The organization reports 0% officer compensation in all available filings, suggesting that executive leadership is not compensated through traditional officer salary structures, which is a rare practice for an organization of this scale.
What is the trend in the organization's assets and liabilities?
Both assets and liabilities have shown a strong upward trend. Assets grew from $77,456 in 201406 to $1,681,371 in 202306, while liabilities increased from $15,545 to $1,611,490 over the same period, indicating significant growth in its financial footprint, potentially through leveraging debt for asset acquisition.
How efficient is Hanac Spiti Management Company Inc's spending?
Spending appears highly efficient, with expenses consistently very close to revenue (e.g., $2,140,737 revenue vs. $2,120,685 expenses in 202306), suggesting most funds are directly applied to operations with minimal surplus or deficit.
Filing History
IRS 990 filing history for Hanac Spiti Management Company Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hanac Spiti Management Company Inc's revenue has grown by 537%, moving from $336K to $2.1M. Total assets increased by 2439.7% over the same period, from $66K to $1.7M. Total functional expenses rose by 531.1%, from $336K to $2.1M. In its most recent filing year (2023), Hanac Spiti Management Company Inc reported a surplus of $20K, with revenue exceeding expenses. The organization holds $1.6M in liabilities against $1.7M in assets (debt-to-asset ratio: 95.8%), resulting in net assets of $70K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.1M | $1.7M | $1.6M | — | View 990 |
| 2022 | $2.3M | $2.3M | $1.2M | $1.1M | — | View 990 |
| 2021 | $2.2M | $2.2M | $680K | $636K | — | View 990 |
| 2020 | $2.2M | $2.2M | $457K | $413K | — | View 990 |
| 2019 | $2.0M | $2.0M | $319K | $276K | — | View 990 |
| 2018 | $1.6M | $1.6M | $196K | $141K | — | View 990 |
| 2017 | $1.5M | $1.5M | $116K | $53K | — | View 990 |
| 2016 | $1.2M | $1.2M | $182K | $117K | — | View 990 |
| 2015 | $673K | $673K | $142K | $80K | — | View 990 |
| 2014 | $546K | $546K | $77K | $16K | — | View 990 |
| 2013 | $521K | $521K | $158K | $96K | — | View 990 |
| 2012 | $348K | $348K | $154K | $92K | — | View 990 |
| 2011 | $336K | $336K | $66K | $4K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.1M, and assets of $1.7M (revenue -7.4% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.3M, and assets of $1.2M (revenue +4.4% year-over-year).
- 2021: Revenue of $2.2M, expenses of $2.2M, and assets of $680K (revenue +1.7% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.2M, and assets of $457K (revenue +7.6% year-over-year).
- 2019: Revenue of $2.0M, expenses of $2.0M, and assets of $319K (revenue +24.7% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.6M, and assets of $196K (revenue +9.7% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.5M, and assets of $116K (revenue +23.8% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.2M, and assets of $182K (revenue +77.4% year-over-year).
- 2015: Revenue of $673K, expenses of $673K, and assets of $142K (revenue +23.2% year-over-year).
- 2014: Revenue of $546K, expenses of $546K, and assets of $77K (revenue +4.9% year-over-year).
- 2013: Revenue of $521K, expenses of $521K, and assets of $158K (revenue +49.8% year-over-year).
- 2012: Revenue of $348K, expenses of $348K, and assets of $154K (revenue +3.4% year-over-year).
- 2011: Revenue of $336K, expenses of $336K, and assets of $66K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hanac Spiti Management Company Inc:
Data Sources and Methodology
This transparency report for Hanac Spiti Management Company 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.