Milbank Memorial Fund
Milbank Memorial Fund shows strong financial growth and zero officer compensation in recent filings.
EIN: 135562282 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $130.2M |
| Total Expenses | $6.2M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $70 |
| Net Assets | $88.1M |
| Transparency Score | 90/100 |
Is Milbank Memorial Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Milbank Memorial Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Milbank Memorial Fund
Milbank Memorial Fund (EIN: 135562282) is a nonprofit organization based in New York, NY. The organization reported total revenue of $130.2M and total assets of $96.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Milbank Memorial Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Milbank Memorial Fund is a major nonprofit that has been operating for 84 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.3M |
| Total Expenses | $6.2M |
| Surplus / Deficit | +$13.1M |
| Total Assets | $90.7M |
| Total Liabilities | $2.7M |
| Net Assets | $88.1M |
| Operating Margin | 67.8% |
| Debt-to-Asset Ratio | 2.9% |
| Months of Reserves | 174.7 months |
Financial Health Grade: A
In 2023, Milbank Memorial Fund reported a surplus of $13.1M with revenue exceeding expenses, holds 174.7 months of operating reserves (strong position), has a debt-to-asset ratio of 2.9% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Milbank Memorial Fund's revenue has grown at a compound annual growth rate (CAGR) of 16.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +217.5% | -26.3% | +7.5% |
| 2022 | -1.8% | +54.7% | -17.6% |
| 2021 | +88.5% | +25.3% | +7.5% |
| 2020 | -19.7% | -4.6% | +4.8% |
| 2019 | -36.4% | -0.6% | +11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1280 |
| 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 Milbank Memorial Fund with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Milbank Memorial Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $13.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization of its size with assets consistently above $70 million, suggesting either a volunteer leadership structure or compensation being covered by other means not reflected in these specific filings.
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 Milbank Memorial Fund's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes precise efficiency analysis difficult.
Strengths
The following positive indicators were identified for Milbank Memorial Fund:
- Strong financial health with consistent positive net assets.
- Significant asset base ($90,722,486 in 202312) providing long-term stability.
- Zero officer compensation reported across all filings, indicating high resource allocation to mission.
- Substantial revenue growth in the latest filing period (202312).
Frequently Asked Questions about Milbank Memorial Fund
Is Milbank Memorial Fund a legitimate charity?
Milbank Memorial Fund (EIN: 135562282) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 10 years of IRS 990 filings on record. Total revenue: $130.2M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Milbank Memorial Fund spend its money?
Milbank Memorial Fund directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Milbank Memorial Fund tax-deductible?
Milbank Memorial Fund is registered as a tax-exempt nonprofit (EIN: 135562282). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Milbank Memorial Fund CEO make?
Milbank Memorial Fund's highest-compensated officer earns $70 annually. The organization reported $130.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Milbank Memorial Fund's spending goes to programs?
Milbank Memorial Fund directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Milbank Memorial Fund located?
Milbank Memorial Fund is headquartered in New York, New York and files with the IRS under EIN 135562282.
How many years of IRS 990 filings does Milbank Memorial Fund have?
Milbank Memorial Fund has 10 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 $130.2M in total revenue.
Is Milbank Memorial Fund a good charity?
Based on the provided financial data, the Milbank Memorial Fund appears to be a financially sound organization with a strong asset base and a history of positive net assets. The consistent reporting of 0% officer compensation is a significant positive indicator of resource allocation towards its mission.
How has the organization's revenue trended?
Revenue has fluctuated, with a notable spike in the 202312 period to $19,341,210, significantly higher than previous years which typically ranged from $3 million to $7 million. This suggests a successful fundraising or investment year.
What is the organization's asset growth like?
The organization has shown consistent asset growth over the decade, increasing from $71,744,439 in 201112 to $90,722,486 in 202312, demonstrating financial stability and accumulation of resources.
What is the significance of 0% officer compensation?
The 0% officer compensation across all filings is highly significant, indicating that the organization's leadership is either entirely volunteer-based or compensated through an unstated mechanism, which is a strong positive for directing funds to programs.
Filing History
IRS 990 filing history for Milbank Memorial Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Milbank Memorial Fund's revenue has grown by 493.5%, moving from $3.3M to $19.3M. Total assets increased by 26.5% over the same period, from $71.7M to $90.7M. Total functional expenses rose by 57.6%, from $4.0M to $6.2M. In its most recent filing year (2023), Milbank Memorial Fund reported a surplus of $13.1M, with revenue exceeding expenses. The organization holds $2.7M in liabilities against $90.7M in assets (debt-to-asset ratio: 2.9%), resulting in net assets of $88.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19.3M | $6.2M | $90.7M | $2.7M | — | — |
| 2022 | $6.1M | $8.4M | $84.4M | $2.8M | — | — |
| 2021 | $6.2M | $5.5M | $102.5M | $1.6M | — | View 990 |
| 2020 | $3.3M | $4.4M | $95.3M | $1.4M | — | View 990 |
| 2019 | $4.1M | $4.6M | $91.0M | $1.2M | — | View 990 |
| 2015 | $6.4M | $4.6M | $81.9M | $1.2M | — | View 990 |
| 2014 | $7.1M | $4.1M | $88.1M | $968K | — | View 990 |
| 2013 | $3.8M | $4.1M | $85.8M | $909K | — | View 990 |
| 2012 | $5.9M | $3.8M | $75.4M | $952K | — | View 990 |
| 2011 | $3.3M | $4.0M | $71.7M | $956K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $19.3M, expenses of $6.2M, and assets of $90.7M (revenue +217.5% year-over-year).
- 2022: Revenue of $6.1M, expenses of $8.4M, and assets of $84.4M (revenue -1.8% year-over-year).
- 2021: Revenue of $6.2M, expenses of $5.5M, and assets of $102.5M (revenue +88.5% year-over-year).
- 2020: Revenue of $3.3M, expenses of $4.4M, and assets of $95.3M (revenue -19.7% year-over-year).
- 2019: Revenue of $4.1M, expenses of $4.6M, and assets of $91.0M (revenue -36.4% year-over-year).
- 2015: Revenue of $6.4M, expenses of $4.6M, and assets of $81.9M (revenue -9.0% year-over-year).
- 2014: Revenue of $7.1M, expenses of $4.1M, and assets of $88.1M (revenue +84.2% year-over-year).
- 2013: Revenue of $3.8M, expenses of $4.1M, and assets of $85.8M (revenue -35.3% year-over-year).
- 2012: Revenue of $5.9M, expenses of $3.8M, and assets of $75.4M (revenue +82.3% year-over-year).
- 2011: Revenue of $3.3M, expenses of $4.0M, and assets of $71.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Milbank Memorial Fund:
Data Sources and Methodology
This transparency report for Milbank Memorial Fund 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.