New York Cardiac Center Inc

New York Cardiac Center Inc. faces persistent operating deficits despite substantial assets.

EIN: 131624083 · Tenafly, NJ · Updated: 2026-03-28

$1.1MRevenue

$2.5MAssets

60/100Mission Score (Good)

About New York Cardiac Center Inc

New York Cardiac Center Inc (EIN: 131624083) is a nonprofit organization based in Tenafly, NJ. The organization reported total revenue of $1.1M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Cardiac Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The New York Cardiac Center Inc. demonstrates a concerning trend of declining revenue and consistent operating deficits over the past several years. In 2023, the organization reported revenue of $89,054 against expenses of $311,618, resulting in a significant deficit. This pattern is not isolated, as expenses have consistently outpaced revenue in all reported periods, often by a substantial margin. While the organization maintains a healthy asset base of $2,462,786 in 2023, this appears to be diminishing over time, suggesting that deficits are being covered by drawing down reserves rather than sustainable operations. The lack of reported officer compensation across all filings indicates a potential reliance on volunteer leadership or that compensation is structured in a way not captured by this metric, which could be a positive for efficiency or a point of inquiry for full transparency.

The organization's financial health is precarious given its persistent inability to generate sufficient revenue to cover its expenses. The average annual revenue over the last ten years is significantly lower than its average annual expenses, indicating a structural imbalance. While the asset base provides a buffer, it is not infinite, and continued deficits will erode it further. The absence of officer compensation is a positive indicator of cost control at the executive level, contributing to spending efficiency in that area. However, without a breakdown of program, administrative, and fundraising expenses, a comprehensive assessment of overall spending efficiency is challenging. The consistent filing of IRS 990s demonstrates a commitment to basic transparency requirements.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates New York Cardiac Center Inc with a Mission Score of 60 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: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, New York Cardiac Center Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, suggesting that the organization's leadership may be entirely volunteer-based or compensated through non-officer roles, which is a positive for minimizing overhead costs.

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 New York Cardiac Center Inc's IRS 990 filings:

Persistent operating deficits: Expenses consistently exceed revenue in all reported periods, indicating an unsustainable financial model.
Declining asset base: Assets have decreased from over $3.3 million in 2014 to under $2.5 million in 2023, suggesting reliance on reserves to cover deficits.
Negative revenue reported in some years (e.g., 2020, 2018), which could indicate significant investment losses or unusual accounting events.

Strengths

The following positive indicators were identified for New York Cardiac Center Inc:

Healthy asset base: Despite declines, the organization still holds over $2.4 million in assets, providing a buffer.
No reported officer compensation: This indicates a commitment to minimizing executive overhead costs.
Consistent IRS 990 filings: Demonstrates adherence to basic regulatory transparency requirements.

Frequently Asked Questions about New York Cardiac Center Inc

How does New York Cardiac Center Inc. cover its consistent operating deficits?

The organization appears to be covering its consistent operating deficits by drawing down its asset base, which has decreased from $3,346,791 in 2014 to $2,462,786 in 2023.

What is the long-term sustainability plan given the declining revenue and increasing expenses?

The provided data does not detail a long-term sustainability plan, but the trend of revenue significantly lagging expenses (e.g., $89,054 revenue vs. $311,618 expenses in 2023) suggests an unsustainable financial model without significant changes.

What are the specific program activities and their associated costs?

The provided IRS 990 summary data does not offer a detailed breakdown of program activities or their specific costs, making it difficult to assess the impact of the organization's spending.

Filing History

IRS 990 filing history for New York Cardiac Center Inc showing financial trends over 13 years of public records:

Total assets decreased by 25.5% over the same period, from $3.3M to $2.5M. Total functional expenses fell by 12.4%, from $356K to $312K. In its most recent filing year (2023), New York Cardiac Center Inc reported a deficit of $223K, with expenses exceeding revenue. The organization holds $76K in liabilities against $2.5M in assets (debt-to-asset ratio: 3.1%), resulting in net assets of $2.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$89K	$312K	$2.5M	$76K	—	—
2022	$175K	$264K	$2.4M	$71K	—	View 990
2021	$398K	$290K	$2.9M	$48K	—	View 990
2020	$-63,580	$293K	$2.9M	$61K	—	—
2019	$165K	$317K	$2.8M	$50K	—	View 990
2018	$-35,800	$351K	$2.6M	$45K	—	View 990
2017	$141K	$348K	$3.0M	$46K	—	View 990
2016	$80K	$315K	$3.0M	$47K	—	View 990
2015	$44K	$334K	$3.0M	$44K	—	View 990
2014	$260K	$321K	$3.3M	$42K	—	View 990
2013	$156K	$329K	$3.5M	$64K	—	View 990
2012	$187K	$354K	$3.3M	$49K	—	View 990
2011	$-36,149	$356K	$3.3M	$42K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $89K, expenses of $312K, and assets of $2.5M (revenue -49.1% year-over-year).
2022: Revenue of $175K, expenses of $264K, and assets of $2.4M (revenue -56.0% year-over-year).
2021: Revenue of $398K, expenses of $290K, and assets of $2.9M.
2020: Revenue of $-63,580, expenses of $293K, and assets of $2.9M (revenue -138.6% year-over-year).
2019: Revenue of $165K, expenses of $317K, and assets of $2.8M.
2018: Revenue of $-35,800, expenses of $351K, and assets of $2.6M (revenue -125.4% year-over-year).
2017: Revenue of $141K, expenses of $348K, and assets of $3.0M (revenue +76.1% year-over-year).
2016: Revenue of $80K, expenses of $315K, and assets of $3.0M (revenue +80.9% year-over-year).
2015: Revenue of $44K, expenses of $334K, and assets of $3.0M (revenue -83.0% year-over-year).
2014: Revenue of $260K, expenses of $321K, and assets of $3.3M (revenue +66.7% year-over-year).
2013: Revenue of $156K, expenses of $329K, and assets of $3.5M (revenue -16.6% year-over-year).
2012: Revenue of $187K, expenses of $354K, and assets of $3.3M.
2011: Revenue of $-36,149, expenses of $356K, and assets of $3.3M.

Data Sources and Methodology

This transparency report for New York Cardiac Center 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.