Home Aides Of Central New York Inc
Home Aides Of Central New York Inc. faces significant financial deficits and growing liabilities.
EIN: 160916474 · Syracuse, NY · NTEE: P44Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.4M |
| Total Expenses | $5.9M |
| Program Spending | 80% |
| Net Assets | $-4,261,710 |
| Transparency Score | 35/100 |
Is Home Aides Of Central New York Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Home Aides Of Central New York Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Home Aides Of Central New York Inc
Home Aides Of Central New York Inc (EIN: 160916474) is a nonprofit organization based in Syracuse, NY, classified under NTEE code P44Z. The organization reported total revenue of $4.4M and total assets of $966K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Home Aides Of Central New York Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Home Aides Of Central New York Inc is a mid-size nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.3M |
| Total Expenses | $5.9M |
| Surplus / Deficit | $-1,640,404 |
| Total Assets | $729K |
| Total Liabilities | $5.0M |
| Net Assets | $-4,261,710 |
| Operating Margin | -38.3% |
| Debt-to-Asset Ratio | 684.5% |
| Months of Reserves | 1.5 months |
Financial Health Grade: D
In 2023, Home Aides Of Central New York Inc reported a deficit of $1.6M with expenses exceeding revenue, holds 1.5 months of operating reserves (limited), has a debt-to-asset ratio of 684.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Home Aides Of Central New York Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.5% | -7.1% | -10.8% |
| 2022 | -18.0% | +5.5% | +25.7% |
| 2021 | -33.5% | -17.5% | +4.8% |
| 2020 | +18.4% | -3.2% | -12.1% |
| 2019 | +3.0% | +3.7% | -20.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Home Aides Of Central New York Inc 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Home Aides Of Central New York Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 684.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer-led executive team or that executive compensation is categorized differently within their financial statements, which would require further investigation.
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 Home Aides Of Central New York Inc's IRS 990 filings:
- Consistent operating deficits: Expenses have exceeded revenue in most recent years, including a $1.6 million deficit in 2023.
- Rapidly increasing liabilities: Liabilities surged from $1.3 million in 2021 to $4.99 million in 2023.
- Negative net asset position: Liabilities significantly outweigh assets, indicating financial instability.
- Declining revenue trend: Revenue has generally decreased from a peak of $8.2 million in 2020 to $4.2 million in 2023.
- Lack of detailed spending breakdown: Without specific program, admin, and fundraising percentages, efficiency is hard to fully gauge.
Strengths
The following positive indicators were identified for Home Aides Of Central New York Inc:
- Consistent IRS 990 filing history: Demonstrates a commitment to regulatory compliance.
- No reported officer compensation: Suggests low executive overhead or a volunteer leadership model.
- Long operational history: Indicates resilience and established presence in the community.
Frequently Asked Questions about Home Aides Of Central New York Inc
Is Home Aides Of Central New York Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Home Aides Of Central New York Inc (EIN: 160916474) significant concerns. Mission Score: 35/100. 5 red flags identified, 3 strengths noted.
How does Home Aides Of Central New York Inc spend its money?
Home Aides Of Central New York Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Home Aides Of Central New York Inc tax-deductible?
Home Aides Of Central New York Inc is registered as a tax-exempt nonprofit (EIN: 160916474). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Home Aides Of Central New York Inc's spending goes to programs?
Home Aides Of Central New York Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Home Aides Of Central New York Inc compare to similar nonprofits?
With a transparency score of 35/100 (Poor), Home Aides Of Central New York Inc is below average for NTEE category P44Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Home Aides Of Central New York Inc located?
Home Aides Of Central New York Inc is headquartered in Syracuse, New York and files with the IRS under EIN 160916474. It is classified under NTEE code P44Z.
How many years of IRS 990 filings does Home Aides Of Central New York Inc have?
Home Aides Of Central New York 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 $4.4M in total revenue.
How does Home Aides Of Central New York Inc. plan to address its consistent operating deficits?
The organization has reported expenses exceeding revenue in most recent years, with a $1.6 million deficit in 2023. A clear strategy for achieving financial sustainability is crucial.
What is the nature of the significant increase in liabilities, particularly from $1.3 million in 2021 to nearly $5 million in 2023?
Understanding the composition of these liabilities (e.g., debt, accounts payable) is critical to assessing the organization's financial risk.
How does the organization fund its operations given the consistent deficits?
Persistent deficits suggest reliance on reserves, new debt, or other non-operating income, which may not be sustainable long-term.
What is the actual breakdown of program, administrative, and fundraising expenses?
Without this detailed breakdown, it's challenging to fully assess spending efficiency and ensure resources are primarily directed towards its mission.
Are there plans to increase revenue or reduce expenses to improve financial health?
Given the current financial trajectory, strategic initiatives to balance the budget are essential for the organization's future.
Filing History
IRS 990 filing history for Home Aides Of Central New York Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Home Aides Of Central New York Inc's revenue has declined by 27.6%, moving from $5.9M to $4.3M. Total assets decreased by 67.6% over the same period, from $2.3M to $729K. Total functional expenses fell by 2.8%, from $6.1M to $5.9M. In its most recent filing year (2023), Home Aides Of Central New York Inc reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $5.0M in liabilities against $729K in assets (debt-to-asset ratio: 684.5%), resulting in net assets of $-4,261,710.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.3M | $5.9M | $729K | $5.0M | — | — |
| 2022 | $4.5M | $6.4M | $817K | $3.4M | — | View 990 |
| 2021 | $5.5M | $6.0M | $650K | $1.3M | — | View 990 |
| 2020 | $8.2M | $7.3M | $620K | $719K | — | View 990 |
| 2019 | $7.0M | $7.6M | $705K | $1.7M | — | View 990 |
| 2018 | $6.8M | $7.3M | $891K | $1.3M | — | View 990 |
| 2017 | $6.7M | $6.7M | $1.1M | $1.0M | — | View 990 |
| 2016 | $6.2M | $6.7M | $1.3M | $2.6M | — | View 990 |
| 2015 | $7.2M | $7.4M | $1.9M | $2.7M | — | View 990 |
| 2014 | $7.6M | $8.8M | $2.1M | $3.0M | — | View 990 |
| 2013 | $7.2M | $7.4M | $2.1M | $1.8M | — | View 990 |
| 2012 | $6.5M | $6.5M | $2.0M | $1.5M | — | View 990 |
| 2011 | $5.9M | $6.1M | $2.3M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.3M, expenses of $5.9M, and assets of $729K (revenue -4.5% year-over-year).
- 2022: Revenue of $4.5M, expenses of $6.4M, and assets of $817K (revenue -18.0% year-over-year).
- 2021: Revenue of $5.5M, expenses of $6.0M, and assets of $650K (revenue -33.5% year-over-year).
- 2020: Revenue of $8.2M, expenses of $7.3M, and assets of $620K (revenue +18.4% year-over-year).
- 2019: Revenue of $7.0M, expenses of $7.6M, and assets of $705K (revenue +3.0% year-over-year).
- 2018: Revenue of $6.8M, expenses of $7.3M, and assets of $891K (revenue +0.7% year-over-year).
- 2017: Revenue of $6.7M, expenses of $6.7M, and assets of $1.1M (revenue +7.5% year-over-year).
- 2016: Revenue of $6.2M, expenses of $6.7M, and assets of $1.3M (revenue -13.3% year-over-year).
- 2015: Revenue of $7.2M, expenses of $7.4M, and assets of $1.9M (revenue -5.6% year-over-year).
- 2014: Revenue of $7.6M, expenses of $8.8M, and assets of $2.1M (revenue +5.6% year-over-year).
- 2013: Revenue of $7.2M, expenses of $7.4M, and assets of $2.1M (revenue +11.6% year-over-year).
- 2012: Revenue of $6.5M, expenses of $6.5M, and assets of $2.0M (revenue +9.2% year-over-year).
- 2011: Revenue of $5.9M, expenses of $6.1M, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Home Aides Of Central New York Inc:
Data Sources and Methodology
This transparency report for Home Aides Of Central New York 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.