Heights Casino Inc
Heights Casino Inc. consistently reports zero officer compensation while operating near break-even with growing assets and liabilities.
EIN: 110868220 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.8M |
| Total Expenses | $6.7M |
| Program Spending | 90% |
| Net Assets | $4.3M |
| Transparency Score | 65/100 |
Is Heights Casino Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heights Casino Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heights Casino Inc
Heights Casino Inc (EIN: 110868220) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $8.8M and total assets of $8.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heights Casino Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heights Casino Inc is a mid-size nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.6M |
| Total Expenses | $6.7M |
| Surplus / Deficit | $-56,435 |
| Total Assets | $8.4M |
| Total Liabilities | $4.1M |
| Net Assets | $4.3M |
| Operating Margin | -0.9% |
| Debt-to-Asset Ratio | 49.1% |
| Months of Reserves | 15.1 months |
Financial Health Grade: B
In 2023, Heights Casino Inc reported a deficit of $56K with expenses exceeding revenue, holds 15.1 months of operating reserves (strong position), has a debt-to-asset ratio of 49.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Heights Casino Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.4% | +6.8% | +27.7% |
| 2022 | +2.9% | +28.1% | -3.7% |
| 2021 | +1.5% | -13.8% | +8.6% |
| 2020 | -12.8% | -14.0% | -3.6% |
| 2019 | +4.1% | +7.5% | -6.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1942 |
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 Heights Casino Inc 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Heights Casino 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 deficit of $56K, with expenses exceeding revenue.
- Debt-to-asset ratio: 49.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with annual revenues in the multi-millions. This suggests either a fully volunteer leadership or compensation is reported under different categories, requiring deeper scrutiny for clarity.
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 Heights Casino Inc's IRS 990 filings:
- Consistently reporting 0% officer compensation for a multi-million dollar organization, which may obscure actual management costs.
- Frequent operation with expenses exceeding revenue (e.g., 202308, 202208), potentially indicating reliance on reserves or other funding sources.
- Unknown NTEE code, making it difficult to assess its charitable purpose and compare efficiency against peers.
- Significant increase in liabilities from $1,869,065 in 2014 to $4,118,419 in 2023 without clear explanation in the provided data.
Strengths
The following positive indicators were identified for Heights Casino Inc:
- Consistent revenue generation over a decade, demonstrating financial stability.
- Growing asset base, from $6,081,512 in 2014 to $8,389,999 in 2023, indicating long-term financial health.
- Apparent focus on utilizing funds for operations, as evidenced by expenses often matching or slightly exceeding revenue, suggesting resources are being deployed.
Frequently Asked Questions about Heights Casino Inc
Is Heights Casino Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Heights Casino Inc (EIN: 110868220) some concerns. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.
How does Heights Casino Inc spend its money?
Heights Casino Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Heights Casino Inc tax-deductible?
Heights Casino Inc is registered as a tax-exempt nonprofit (EIN: 110868220). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Heights Casino Inc located?
Heights Casino Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 110868220.
How many years of IRS 990 filings does Heights Casino Inc have?
Heights Casino 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 $8.8M in total revenue.
What is the specific mission or program service of Heights Casino Inc. given its unknown NTEE code?
Without an NTEE code, it's difficult to ascertain the primary mission. The name 'Casino' often implies a social or recreational club, which would mean its 'programs' are likely member services rather than public charitable activities.
Why is officer compensation consistently reported as 0% despite significant revenue and expenses?
This could indicate a volunteer board, or that compensation for key management is categorized differently on the 990, such as 'salaries and wages' for employees rather than 'officer compensation'.
How does the organization manage to operate with expenses frequently exceeding revenue, as seen in 202308 and 202208?
Operating at a slight deficit might be covered by prior year surpluses, investment income, or specific capital contributions not reflected in annual revenue figures, or it could indicate a strategy to utilize all available funds for operations.
What is the nature of the increasing liabilities, which grew from $1,869,065 in 2014 to $4,118,419 in 2023?
The increase in liabilities could be due to capital improvements, mortgages, or other forms of debt. Understanding the composition of these liabilities is crucial for assessing financial risk.
Filing History
IRS 990 filing history for Heights Casino Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Heights Casino Inc's revenue has grown by 60.3%, moving from $4.1M to $6.6M. Total assets increased by 69.8% over the same period, from $4.9M to $8.4M. Total functional expenses rose by 67.4%, from $4.0M to $6.7M. In its most recent filing year (2023), Heights Casino Inc reported a deficit of $56K, with expenses exceeding revenue. The organization holds $4.1M in liabilities against $8.4M in assets (debt-to-asset ratio: 49.1%), resulting in net assets of $4.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.6M | $6.7M | $8.4M | $4.1M | — | View 990 |
| 2022 | $5.7M | $6.3M | $6.6M | $2.2M | — | View 990 |
| 2021 | $5.6M | $4.9M | $6.8M | $2.0M | — | View 990 |
| 2020 | $5.5M | $5.7M | $6.3M | $2.1M | — | — |
| 2019 | $6.3M | $6.6M | $6.5M | $2.2M | — | View 990 |
| 2018 | $6.1M | $6.1M | $6.9M | $2.3M | — | View 990 |
| 2017 | $5.6M | $5.9M | $7.0M | $2.3M | — | View 990 |
| 2016 | $5.6M | $5.1M | $6.9M | $2.0M | — | View 990 |
| 2015 | $5.2M | $5.0M | $6.0M | $1.6M | — | View 990 |
| 2014 | $5.2M | $4.8M | $6.1M | $1.9M | — | View 990 |
| 2013 | $4.7M | $4.4M | $5.8M | $2.0M | — | View 990 |
| 2012 | $4.3M | $4.1M | $5.6M | $2.0M | — | View 990 |
| 2011 | $4.1M | $4.0M | $4.9M | $1.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.6M, expenses of $6.7M, and assets of $8.4M (revenue +15.4% year-over-year).
- 2022: Revenue of $5.7M, expenses of $6.3M, and assets of $6.6M (revenue +2.9% year-over-year).
- 2021: Revenue of $5.6M, expenses of $4.9M, and assets of $6.8M (revenue +1.5% year-over-year).
- 2020: Revenue of $5.5M, expenses of $5.7M, and assets of $6.3M (revenue -12.8% year-over-year).
- 2019: Revenue of $6.3M, expenses of $6.6M, and assets of $6.5M (revenue +4.1% year-over-year).
- 2018: Revenue of $6.1M, expenses of $6.1M, and assets of $6.9M (revenue +7.9% year-over-year).
- 2017: Revenue of $5.6M, expenses of $5.9M, and assets of $7.0M (revenue +0.3% year-over-year).
- 2016: Revenue of $5.6M, expenses of $5.1M, and assets of $6.9M (revenue +6.9% year-over-year).
- 2015: Revenue of $5.2M, expenses of $5.0M, and assets of $6.0M (revenue +1.4% year-over-year).
- 2014: Revenue of $5.2M, expenses of $4.8M, and assets of $6.1M (revenue +10.3% year-over-year).
- 2013: Revenue of $4.7M, expenses of $4.4M, and assets of $5.8M (revenue +8.4% year-over-year).
- 2012: Revenue of $4.3M, expenses of $4.1M, and assets of $5.6M (revenue +4.5% year-over-year).
- 2011: Revenue of $4.1M, expenses of $4.0M, and assets of $4.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heights Casino Inc:
Data Sources and Methodology
This transparency report for Heights Casino 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.