New York Central Trust
New York Central Trust consistently operates at a deficit despite substantial assets, raising long-term sustainability concerns.
EIN: 146018202 · Valley Forge, PA · NTEE: T22 · Updated: 2026-03-28
Is New York Central Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York Central Trust directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About New York Central Trust
New York Central Trust (EIN: 146018202) is a nonprofit organization based in Valley Forge, PA, classified under NTEE code T22. The organization reported total revenue of $942K and total assets of $6.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Central Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New York Central Trust 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, New York Central Trust allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
New York Central Trust reports 0% officer compensation across all available filings, indicating that no executive salaries are paid from the organization's funds, which is highly favorable for donor perception.
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 Central Trust's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023 expenses exceeded revenue by $165,984).
- Unusually low and consistent $1 reported liabilities across all filings, raising transparency questions.
- Fluctuating and slightly declining asset base over the long term, indicating potential use of reserves for operations.
Strengths
The following positive indicators were identified for New York Central Trust:
- Substantial asset base of over $6 million provides financial stability despite operational deficits.
- No reported officer compensation, indicating efficient use of funds regarding executive pay.
- Long filing history (10 filings) demonstrates consistent reporting to the IRS.
Frequently Asked Questions about New York Central Trust
Is New York Central Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, New York Central Trust (EIN: 146018202) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does New York Central Trust spend its money?
New York Central Trust directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New York Central Trust tax-deductible?
New York Central Trust is registered as a tax-exempt nonprofit (EIN: 146018202). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does New York Central Trust cover its operational deficits?
Given the consistent deficits in recent years (e.g., $165,984 in 2023 and $260,694 in 2022), the organization likely draws from its substantial asset base of over $6 million to cover operational expenses. This is not sustainable long-term without a significant increase in revenue or reduction in expenses.
What is the nature of the consistently reported $1 liability?
The consistent reporting of $1 in liabilities across all filings is highly unusual for an organization of this size and asset base. It could indicate a specific accounting practice, a trust structure where liabilities are held elsewhere, or potentially incomplete disclosure of actual financial obligations.
Is the organization's asset base growing or shrinking?
The organization's assets have fluctuated but show a slight decline over the long term, from $6,296,855 in 2014 to $5,805,531 in 2023, despite a recent increase to $6,077,692. This trend, coupled with operational deficits, suggests assets are being utilized to sustain operations rather than grow.
Filing History
IRS 990 filing history for New York Central Trust showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), New York Central Trust's revenue has grown by 170.6%, moving from $296K to $802K. Total assets decreased by 6.2% over the same period, from $6.2M to $5.8M. Total functional expenses rose by 149.8%, from $387K to $968K. In its most recent filing year (2023), New York Central Trust reported a deficit of $166K, with expenses exceeding revenue. The organization holds $1 in liabilities against $5.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $802K | $968K | $5.8M | $1 | — | View 990 |
| 2022 | $427K | $688K | $6.0M | $1 | — | View 990 |
| 2021 | $961K | $596K | $6.2M | $1 | — | — |
| 2020 | $724K | $571K | $5.9M | $1 | — | — |
| 2019 | $497K | $573K | $5.7M | $1 | — | View 990 |
| 2015 | $493K | $563K | $6.2M | $1 | — | View 990 |
| 2014 | $446K | $316K | $6.3M | $1 | — | View 990 |
| 2013 | $472K | $517K | $6.2M | $1 | — | View 990 |
| 2012 | $296K | $297K | $6.2M | $1 | — | View 990 |
| 2011 | $296K | $387K | $6.2M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $802K, expenses of $968K, and assets of $5.8M (revenue +87.7% year-over-year).
- 2022: Revenue of $427K, expenses of $688K, and assets of $6.0M (revenue -55.6% year-over-year).
- 2021: Revenue of $961K, expenses of $596K, and assets of $6.2M (revenue +32.7% year-over-year).
- 2020: Revenue of $724K, expenses of $571K, and assets of $5.9M (revenue +45.7% year-over-year).
- 2019: Revenue of $497K, expenses of $573K, and assets of $5.7M (revenue +0.8% year-over-year).
- 2015: Revenue of $493K, expenses of $563K, and assets of $6.2M (revenue +10.6% year-over-year).
- 2014: Revenue of $446K, expenses of $316K, and assets of $6.3M (revenue -5.4% year-over-year).
- 2013: Revenue of $472K, expenses of $517K, and assets of $6.2M (revenue +59.3% year-over-year).
- 2012: Revenue of $296K, expenses of $297K, and assets of $6.2M (revenue -0.1% year-over-year).
- 2011: Revenue of $296K, expenses of $387K, and assets of $6.2M.
Data Sources and Methodology
This transparency report for New York Central Trust 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.