Hasc Transportation Corp
Hasc Transportation Corp faces financial instability with recurring negative net assets and deficit spending.
EIN: 113387005 · Brooklyn, NY · NTEE: P52 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $1.2M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $-196,154 |
| Transparency Score | 35/100 |
Is Hasc Transportation Corp Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hasc Transportation Corp directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Hasc Transportation Corp
Hasc Transportation Corp (EIN: 113387005) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code P52. The organization reported total revenue of $2.0M and total assets of $211K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hasc Transportation Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hasc Transportation Corp is a mid-size nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$186K |
| Total Assets | $-11,899 |
| Total Liabilities | $184K |
| Net Assets | $-196,154 |
| Operating Margin | 13.0% |
| Months of Reserves | -0.1 months |
Financial Health Grade: B
In 2023, Hasc Transportation Corp reported a surplus of $186K with revenue exceeding expenses, holds -0.1 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), Hasc Transportation Corp's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +38.3% | -1.4% | — |
| 2022 | +11.5% | +6.9% | -114.9% |
| 2021 | -17.4% | +0.4% | +100.0% |
| 2020 | +11.5% | -0.3% | -34.9% |
| 2019 | -30.0% | -2.0% | -72.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 Hasc Transportation Corp with a Mission Score of 35 out of 100 (Poor). 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, Hasc Transportation Corp 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 surplus of $186K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer executive leadership or that compensation is categorized differently, which is unusual for an organization with over $1 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 Hasc Transportation Corp's IRS 990 filings:
- Persistent negative net assets (e.g., -$11,899 in 2023, -$29,529 in 2022), indicating liabilities exceed assets.
- Consistent deficit spending where expenses frequently exceed revenue (e.g., 2022 expenses $1,265,515 vs. revenue $1,037,415).
- Significant fluctuations in assets, including a sharp drop from $562,604 in 2018 to negative values in recent years.
- High liabilities relative to assets in recent periods (e.g., 2023 liabilities $184,255 vs. assets $-11,899).
Strengths
The following positive indicators were identified for Hasc Transportation Corp:
- Consistent reporting of 0% officer compensation, suggesting a potentially volunteer-driven executive team or highly efficient compensation structure.
- Long filing history (13 filings), indicating consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Hasc Transportation Corp
Is Hasc Transportation Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Hasc Transportation Corp (EIN: 113387005) significant concerns. Mission Score: 35/100. 4 red flags identified, 2 strengths noted.
How does Hasc Transportation Corp spend its money?
Hasc Transportation Corp directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hasc Transportation Corp tax-deductible?
Hasc Transportation Corp is registered as a tax-exempt nonprofit (EIN: 113387005). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hasc Transportation Corp CEO make?
Hasc Transportation Corp's highest-compensated officer earns $1 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Hasc Transportation Corp's spending goes to programs?
Hasc Transportation Corp directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Hasc Transportation Corp compare to similar nonprofits?
With a transparency score of 35/100 (Poor), Hasc Transportation Corp is below average for NTEE category P52 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hasc Transportation Corp located?
Hasc Transportation Corp is headquartered in Brooklyn, New York and files with the IRS under EIN 113387005. It is classified under NTEE code P52.
How many years of IRS 990 filings does Hasc Transportation Corp have?
Hasc Transportation Corp 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 $2.0M in total revenue.
Why does Hasc Transportation Corp consistently have negative net assets?
The filings show that in recent years (2023 and 2022), the organization's liabilities ($184,255 and $352,875 respectively) have exceeded its assets ($-11,899 and $-29,529 respectively), indicating a state where the organization owes more than it owns.
How does the organization cover its operating deficits?
In multiple periods, such as 2022 ($1,037,415 revenue vs. $1,265,515 expenses) and 2021 ($930,723 revenue vs. $1,184,322 expenses), expenses significantly exceeded revenue. This suggests reliance on prior reserves, loans, or other undisclosed funding mechanisms to cover shortfalls.
Is the 0% officer compensation accurate, and if so, how is executive leadership compensated?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this size. It raises questions about whether executive roles are entirely volunteer-based or if compensation is reported under other expense categories, which would impact transparency.
What is the plan to address the organization's financial instability and achieve positive net assets?
With negative net assets in recent years and a pattern of expenses exceeding revenue, the organization needs a clear strategy to improve its financial health, reduce liabilities, and build reserves.
Filing History
IRS 990 filing history for Hasc Transportation Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hasc Transportation Corp's revenue has grown by 26.6%, moving from $1.1M to $1.4M. Total assets decreased by 101.9% over the same period, from $617K to $-11,899. Total functional expenses rose by 14.6%, from $1.1M to $1.2M. In its most recent filing year (2023), Hasc Transportation Corp reported a surplus of $186K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.4M | $1.2M | $-11,899 | $184K | — | — |
| 2022 | $1.0M | $1.3M | $-29,529 | $353K | — | View 990 |
| 2021 | $931K | $1.2M | $199K | $353K | — | View 990 |
| 2020 | $1.1M | $1.2M | $99K | $0 | — | View 990 |
| 2019 | $1.0M | $1.2M | $152K | $0 | — | View 990 |
| 2018 | $1.4M | $1.2M | $563K | $237K | — | View 990 |
| 2017 | $1.1M | $1.1M | $194K | $105K | — | View 990 |
| 2016 | $1.1M | $1.2M | $227K | $150K | — | View 990 |
| 2015 | $1.1M | $1.1M | $113K | $0 | — | View 990 |
| 2014 | $912K | $1.1M | $59K | $0 | — | View 990 |
| 2013 | $932K | $958K | $251K | $0 | — | View 990 |
| 2012 | $892K | $1.2M | $276K | $0 | — | View 990 |
| 2011 | $1.1M | $1.1M | $617K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.4M, expenses of $1.2M, and assets of $-11,899 (revenue +38.3% year-over-year).
- 2022: Revenue of $1.0M, expenses of $1.3M, and assets of $-29,529 (revenue +11.5% year-over-year).
- 2021: Revenue of $931K, expenses of $1.2M, and assets of $199K (revenue -17.4% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.2M, and assets of $99K (revenue +11.5% year-over-year).
- 2019: Revenue of $1.0M, expenses of $1.2M, and assets of $152K (revenue -30.0% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.2M, and assets of $563K (revenue +34.8% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.1M, and assets of $194K (revenue -4.5% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.2M, and assets of $227K (revenue +1.6% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.1M, and assets of $113K (revenue +21.0% year-over-year).
- 2014: Revenue of $912K, expenses of $1.1M, and assets of $59K (revenue -2.1% year-over-year).
- 2013: Revenue of $932K, expenses of $958K, and assets of $251K (revenue +4.5% year-over-year).
- 2012: Revenue of $892K, expenses of $1.2M, and assets of $276K (revenue -21.3% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.1M, and assets of $617K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hasc Transportation Corp:
Data Sources and Methodology
This transparency report for Hasc Transportation Corp 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.