New York City Industrial Technology Assistance Corporation
NYC ITAC maintains stable finances with no reported officer compensation, despite occasional operating deficits.
EIN: 133410779 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $2.6M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $2.3M |
| Transparency Score | 75/100 |
Is New York City Industrial Technology Assistance Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York City Industrial Technology Assistance Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New York City Industrial Technology Assistance Corporation
New York City Industrial Technology Assistance Corporation (EIN: 133410779) is a nonprofit organization based in New York, NY. The organization reported total revenue of $2.2M and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York City Industrial Technology Assistance Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New York City Industrial Technology Assistance Corporation is a mid-size nonprofit that has been operating for 35 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -3.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $2.6M |
| Surplus / Deficit | $-320,403 |
| Total Assets | $2.4M |
| Total Liabilities | $142K |
| Net Assets | $2.3M |
| Operating Margin | -13.8% |
| Debt-to-Asset Ratio | 5.9% |
| Months of Reserves | 10.9 months |
Financial Health Grade: B
In 2023, New York City Industrial Technology Assistance Corporation reported a deficit of $320K with expenses exceeding revenue, holds 10.9 months of operating reserves (strong position), has a debt-to-asset ratio of 5.9% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), New York City Industrial Technology Assistance Corporation's revenue has declined at a compound annual growth rate (CAGR) of -3.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -25.1% | -10.3% | -17.0% |
| 2022 | -10.4% | -0.3% | +7.6% |
| 2021 | +28.4% | +6.9% | +2.2% |
| 2020 | -17.7% | -2.7% | +28.9% |
| 2019 | +10.8% | +7.8% | +1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 New York City Industrial Technology Assistance Corporation with a Mission Score of 75 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, New York City Industrial Technology Assistance Corporation 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 deficit of $320K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either unpaid or compensated through mechanisms not categorized as officer compensation on the 990, which is highly unusual for an organization of this size with annual revenues exceeding $2 million.
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 City Industrial Technology Assistance Corporation's IRS 990 filings:
- Occasional operating deficits (e.g., 2023, 2020, 2016) where expenses exceeded revenue.
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data.
- Unusual 0% officer compensation for an organization with multi-million dollar revenues, which may obscure actual executive remuneration.
Strengths
The following positive indicators were identified for New York City Industrial Technology Assistance Corporation:
- Consistent IRS 990 filing history (12 filings) demonstrating compliance.
- Strong asset-to-liability ratio, indicating good financial stability (e.g., 2023 assets $2,398,869 vs. liabilities $142,466).
- No reported officer compensation, suggesting a potential for high efficiency in executive overhead.
Frequently Asked Questions about New York City Industrial Technology Assistance Corporation
Is New York City Industrial Technology Assistance Corporation a legitimate charity?
New York City Industrial Technology Assistance Corporation (EIN: 133410779) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 12 years of IRS 990 filings on record. Total revenue: $2.2M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does New York City Industrial Technology Assistance Corporation spend its money?
New York City Industrial Technology Assistance Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New York City Industrial Technology Assistance Corporation tax-deductible?
New York City Industrial Technology Assistance Corporation is registered as a tax-exempt nonprofit (EIN: 133410779). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New York City Industrial Technology Assistance Corporation CEO make?
New York City Industrial Technology Assistance Corporation's highest-compensated officer earns $2 annually. The organization reported $2.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New York City Industrial Technology Assistance Corporation's spending goes to programs?
New York City Industrial Technology Assistance Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is New York City Industrial Technology Assistance Corporation located?
New York City Industrial Technology Assistance Corporation is headquartered in New York, New York and files with the IRS under EIN 133410779.
How many years of IRS 990 filings does New York City Industrial Technology Assistance Corporation have?
New York City Industrial Technology Assistance Corporation has 12 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 $2.2M in total revenue.
How does NYC ITAC fund its operations given the 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that executive leadership may be volunteers, compensated through a related entity, or that their compensation is categorized differently within the 990, which would require reviewing the full filing for clarification.
What is the breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories, which is crucial for a comprehensive assessment of spending efficiency.
Why did NYC ITAC experience operating deficits in 2023, 2020, and 2016?
In these periods, expenses ($2,637,238 in 2023; $2,759,058 in 2020; $2,929,581 in 2016) exceeded revenues ($2,316,835 in 2023; $2,687,240 in 2020; $2,801,709 in 2016), indicating that the organization spent more than it brought in during those fiscal years. A deeper dive into the full 990s would be needed to understand the specific causes.
What is the NTEE code for NYC ITAC and how does it compare to similar organizations?
The NTEE code for NYC ITAC is currently unknown, which limits the ability to benchmark its financial performance and efficiency against peer organizations in the same sector.
Filing History
IRS 990 filing history for New York City Industrial Technology Assistance Corporation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), New York City Industrial Technology Assistance Corporation's revenue has declined by 35.7%, moving from $3.6M to $2.3M. Total assets increased by 55.1% over the same period, from $1.5M to $2.4M. Total functional expenses fell by 34.1%, from $4.0M to $2.6M. In its most recent filing year (2023), New York City Industrial Technology Assistance Corporation reported a deficit of $320K, with expenses exceeding revenue. The organization holds $142K in liabilities against $2.4M in assets (debt-to-asset ratio: 5.9%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.6M | $2.4M | $142K | — | View 990 |
| 2022 | $3.1M | $2.9M | $2.9M | $293K | — | View 990 |
| 2021 | $3.5M | $2.9M | $2.7M | $345K | — | View 990 |
| 2020 | $2.7M | $2.8M | $2.6M | $319K | — | View 990 |
| 2019 | $3.3M | $2.8M | $2.0M | $293K | — | View 990 |
| 2018 | $2.9M | $2.6M | $2.0M | $755K | — | View 990 |
| 2017 | $2.5M | $2.2M | $1.5M | $588K | — | View 990 |
| 2016 | $2.8M | $2.9M | $1.2M | $639K | — | View 990 |
| 2015 | $3.5M | $3.4M | $1.5M | $813K | — | View 990 |
| 2014 | $3.5M | $3.4M | $1.5M | $952K | — | View 990 |
| 2013 | $3.4M | $3.4M | $1.5M | $1.1M | — | View 990 |
| 2012 | $3.6M | $4.0M | $1.5M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.6M, and assets of $2.4M (revenue -25.1% year-over-year).
- 2022: Revenue of $3.1M, expenses of $2.9M, and assets of $2.9M (revenue -10.4% year-over-year).
- 2021: Revenue of $3.5M, expenses of $2.9M, and assets of $2.7M (revenue +28.4% year-over-year).
- 2020: Revenue of $2.7M, expenses of $2.8M, and assets of $2.6M (revenue -17.7% year-over-year).
- 2019: Revenue of $3.3M, expenses of $2.8M, and assets of $2.0M (revenue +10.8% year-over-year).
- 2018: Revenue of $2.9M, expenses of $2.6M, and assets of $2.0M (revenue +17.9% year-over-year).
- 2017: Revenue of $2.5M, expenses of $2.2M, and assets of $1.5M (revenue -10.8% year-over-year).
- 2016: Revenue of $2.8M, expenses of $2.9M, and assets of $1.2M (revenue -19.5% year-over-year).
- 2015: Revenue of $3.5M, expenses of $3.4M, and assets of $1.5M (revenue +0.6% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.4M, and assets of $1.5M (revenue +2.3% year-over-year).
- 2013: Revenue of $3.4M, expenses of $3.4M, and assets of $1.5M (revenue -6.2% year-over-year).
- 2012: Revenue of $3.6M, expenses of $4.0M, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New York City Industrial Technology Assistance Corporation:
Data Sources and Methodology
This transparency report for New York City Industrial Technology Assistance 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.