Hudson Yards Development Corporation
Hudson Yards Development Corporation maintains tight expense control with significant asset growth and no reported officer compensation.
EIN: 141941768 · New York, NY · NTEE: S20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.4M |
| Total Expenses | $4.7M |
| Program Spending | 90% |
| Net Assets | $76K |
| Transparency Score | 85/100 |
Is Hudson Yards Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hudson Yards Development Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hudson Yards Development Corporation
Hudson Yards Development Corporation (EIN: 141941768) is a nonprofit organization based in New York, NY, classified under NTEE code S20. The organization reported total revenue of $8.4M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hudson Yards Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hudson Yards Development Corporation is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.7M |
| Total Expenses | $4.7M |
| Surplus / Deficit | +$14K |
| Total Assets | $2.3M |
| Total Liabilities | $2.3M |
| Net Assets | $76K |
| Operating Margin | 0.3% |
| Debt-to-Asset Ratio | 96.8% |
| Months of Reserves | 6.0 months |
Financial Health Grade: A
In 2023, Hudson Yards Development Corporation reported a surplus of $14K with revenue exceeding expenses, holds 6.0 months of operating reserves (strong position), has a debt-to-asset ratio of 96.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hudson Yards Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +56.5% | +57.6% | +318.6% |
| 2022 | +173.9% | +183.0% | +198.1% |
| 2021 | -19.2% | -23.6% | -3.7% |
| 2020 | +12.1% | +20.6% | +32.2% |
| 2019 | -40.3% | -45.4% | +166.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Hudson Yards Development Corporation 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, Hudson Yards Development Corporation 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 $14K, with revenue exceeding expenses.
- Debt-to-asset ratio: 96.8%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, which is unusual for an organization of its size and revenue, suggesting either volunteer leadership or compensation being managed through a related entity not reflected in these specific disclosures.
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 Hudson Yards Development Corporation's IRS 990 filings:
- Consistent 0% officer compensation may indicate incomplete disclosure or complex organizational structure.
- Lack of detailed program spending breakdown makes it difficult to fully assess program efficiency.
Strengths
The following positive indicators were identified for Hudson Yards Development Corporation:
- Consistent expense management, with expenses closely matching revenue.
- Significant asset growth in recent years, indicating financial strengthening.
- Stable financial history with 13 filings, suggesting long-term operational presence.
Frequently Asked Questions about Hudson Yards Development Corporation
Is Hudson Yards Development Corporation a legitimate charity?
Hudson Yards Development Corporation (EIN: 141941768) 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: $8.4M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Hudson Yards Development Corporation spend its money?
Hudson Yards Development Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Hudson Yards Development Corporation tax-deductible?
Hudson Yards Development Corporation is registered as a tax-exempt nonprofit (EIN: 141941768). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Hudson Yards Development Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Hudson Yards Development Corporation is above average for NTEE category S20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hudson Yards Development Corporation located?
Hudson Yards Development Corporation is headquartered in New York, New York and files with the IRS under EIN 141941768. It is classified under NTEE code S20.
How many years of IRS 990 filings does Hudson Yards Development Corporation have?
Hudson Yards Development Corporation 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 $8.4M in total revenue.
How does Hudson Yards Development Corporation manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that executive leadership may be volunteer-based, compensated by a related entity, or that the compensation is not reported in this specific section of the 990. Further investigation into their operational structure and related party transactions would be necessary to understand this fully.
What is the primary source of the significant asset growth observed between 2021 and 2023?
The organization's assets grew from $187,036 in 2021 to $2,334,399 in 2023. This substantial increase likely stems from successful fundraising, grants, or the acquisition/development of property related to its mission, given its development-oriented name. A detailed look at the balance sheet would clarify the nature of these assets.
Given the NTEE code S20 (Community Development), how do the financial activities align with typical community development initiatives?
The consistent revenue and expense figures, along with the recent asset growth, suggest active engagement in projects. Without program-specific expense breakdowns, it's difficult to precisely align financial activities with specific community development initiatives, but the overall financial stability supports ongoing operations in this sector.
Filing History
IRS 990 filing history for Hudson Yards Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hudson Yards Development Corporation's revenue has grown by 30%, moving from $3.6M to $4.7M. Total assets increased by 734.3% over the same period, from $280K to $2.3M. Total functional expenses rose by 28.7%, from $3.6M to $4.7M. In its most recent filing year (2023), Hudson Yards Development Corporation reported a surplus of $14K, with revenue exceeding expenses. The organization holds $2.3M in liabilities against $2.3M in assets (debt-to-asset ratio: 96.8%), resulting in net assets of $76K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.7M | $4.7M | $2.3M | $2.3M | — | — |
| 2022 | $3.0M | $3.0M | $558K | $496K | — | View 990 |
| 2021 | $1.1M | $1.0M | $187K | $156K | — | View 990 |
| 2020 | $1.4M | $1.4M | $194K | $209K | — | View 990 |
| 2019 | $1.2M | $1.1M | $147K | $145K | — | View 990 |
| 2018 | $2.0M | $2.1M | $55K | $125K | — | View 990 |
| 2017 | $718K | $872K | $139K | $151K | — | View 990 |
| 2016 | $1.1M | $1.1M | $350K | $209K | — | View 990 |
| 2015 | $1.5M | $1.4M | $313K | $185K | — | View 990 |
| 2014 | $2.3M | $2.3M | $261K | $225K | — | View 990 |
| 2013 | $2.0M | $2.4M | $323K | $300K | — | View 990 |
| 2012 | $3.1M | $2.7M | $758K | $332K | — | View 990 |
| 2011 | $3.6M | $3.6M | $280K | $302K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.7M, expenses of $4.7M, and assets of $2.3M (revenue +56.5% year-over-year).
- 2022: Revenue of $3.0M, expenses of $3.0M, and assets of $558K (revenue +173.9% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.0M, and assets of $187K (revenue -19.2% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.4M, and assets of $194K (revenue +12.1% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.1M, and assets of $147K (revenue -40.3% year-over-year).
- 2018: Revenue of $2.0M, expenses of $2.1M, and assets of $55K (revenue +181.8% year-over-year).
- 2017: Revenue of $718K, expenses of $872K, and assets of $139K (revenue -35.1% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.1M, and assets of $350K (revenue -24.6% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.4M, and assets of $313K (revenue -37.1% year-over-year).
- 2014: Revenue of $2.3M, expenses of $2.3M, and assets of $261K (revenue +16.6% year-over-year).
- 2013: Revenue of $2.0M, expenses of $2.4M, and assets of $323K (revenue -36.4% year-over-year).
- 2012: Revenue of $3.1M, expenses of $2.7M, and assets of $758K (revenue -13.0% year-over-year).
- 2011: Revenue of $3.6M, expenses of $3.6M, and assets of $280K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hudson Yards Development Corporation:
Data Sources and Methodology
This transparency report for Hudson Yards Development Corporation 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.