New York Credit & Financial Management Assn Inc

New York Credit & Financial Management Assn Inc faces persistent operating deficits and declining assets.

EIN: 135582851 · Scotch Plains, NJ · Updated: 2026-03-28

$357KRevenue

$550KAssets

45/100Mission Score (Fair)

About New York Credit & Financial Management Assn Inc

New York Credit & Financial Management Assn Inc (EIN: 135582851) is a nonprofit organization based in Scotch Plains, NJ. The organization reported total revenue of $357K and total assets of $550K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Credit & Financial Management Assn Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The New York Credit & Financial Management Assn Inc has experienced a consistent trend of operating deficits in recent years, with expenses exceeding revenue in all reported periods from 2015 to 2019. For instance, in 2019, expenses were $398,759 against revenues of $357,349, resulting in a deficit of over $41,000. This pattern suggests a potential reliance on accumulated assets or other funding sources to cover operational costs. The organization's assets have also shown a declining trend, from a high of $883,025 in 2015 to $549,776 in 2019, while liabilities have remained high, reaching $924,278 in 2019. This indicates a concerning financial position where liabilities significantly outweigh assets.

Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess. However, the consistent operational losses raise questions about the sustainability of current spending levels relative to revenue generation. The absence of reported officer compensation across all filings suggests either a volunteer-led executive structure or that compensation is reported under other expense categories, which could impact transparency if not clearly disclosed elsewhere. The organization's financial health appears to be under stress due to persistent deficits and a negative net asset position.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates New York Credit & Financial Management Assn Inc with a Mission Score of 45 out of 100 (Fair). 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 Credit & Financial Management Assn Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

No officer compensation has been reported in any of the available filings, which could indicate a volunteer-led executive team or that compensation is categorized differently, requiring further investigation for full transparency.

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 Credit & Financial Management Assn Inc's IRS 990 filings:

Persistent operating deficits (expenses consistently exceed revenue, e.g., $398,759 expenses vs. $357,349 revenue in 2019).
Liabilities significantly exceed assets ($924,278 liabilities vs. $549,776 assets in 2019).
Declining asset base over recent years (from $883,025 in 2015 to $549,776 in 2019).

Strengths

The following positive indicators were identified for New York Credit & Financial Management Assn Inc:

Consistent filing of IRS 990 forms, indicating a commitment to regulatory compliance.

Frequently Asked Questions about New York Credit & Financial Management Assn Inc

Is New York Credit & Financial Management Assn Inc financially stable?

Based on the IRS 990 data, the organization is not financially stable, having reported expenses exceeding revenue in all periods from 2015 to 2019, and liabilities significantly outweighing assets ($924,278 liabilities vs. $549,776 assets in 2019).

What is the trend in the organization's assets and liabilities?

Assets have generally declined from $883,025 in 2015 to $549,776 in 2019, while liabilities have remained high and even increased, reaching $924,278 in 2019, indicating a deteriorating net asset position.

How does the organization cover its operating deficits?

The consistent operating deficits (e.g., $41,410 in 2019) suggest the organization is either drawing down on accumulated reserves or relying on other non-operating income sources, which is not sustainable long-term without a change in financial strategy.

Filing History

IRS 990 filing history for New York Credit & Financial Management Assn Inc showing financial trends over 9 years of public records:

Over 9 years of IRS 990 filings (2011–2019), New York Credit & Financial Management Assn Inc's revenue has grown by 60.4%, moving from $223K to $357K. Total assets increased by 3972.4% over the same period, from $14K to $550K. Total functional expenses rose by 77.5%, from $225K to $399K. In its most recent filing year (2019), New York Credit & Financial Management Assn Inc reported a deficit of $41K, with expenses exceeding revenue. The organization holds $924K in liabilities against $550K in assets (debt-to-asset ratio: 168.1%), resulting in net assets of $-374,502.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2019	$357K	$399K	$550K	$924K	—	—
2018	$375K	$409K	$584K	$915K	—	View 990
2017	$437K	$554K	$624K	$923K	—	View 990
2016	$442K	$596K	$641K	$822K	—	View 990
2015	$230K	$257K	$883K	$909K	—	View 990
2014	$277K	$272K	$51K	$48K	—	View 990
2013	$272K	$246K	$20K	$23K	—	View 990
2012	$237K	$239K	$6K	$30K	—	View 990
2011	$223K	$225K	$14K	$41K	—	View 990

Year-by-Year Financial Summary

2019: Revenue of $357K, expenses of $399K, and assets of $550K (revenue -4.7% year-over-year).
2018: Revenue of $375K, expenses of $409K, and assets of $584K (revenue -14.1% year-over-year).
2017: Revenue of $437K, expenses of $554K, and assets of $624K (revenue -1.1% year-over-year).
2016: Revenue of $442K, expenses of $596K, and assets of $641K (revenue +92.0% year-over-year).
2015: Revenue of $230K, expenses of $257K, and assets of $883K (revenue -17.1% year-over-year).
2014: Revenue of $277K, expenses of $272K, and assets of $51K (revenue +2.0% year-over-year).
2013: Revenue of $272K, expenses of $246K, and assets of $20K (revenue +14.6% year-over-year).
2012: Revenue of $237K, expenses of $239K, and assets of $6K (revenue +6.6% year-over-year).
2011: Revenue of $223K, expenses of $225K, and assets of $14K.

Data Sources and Methodology

This transparency report for New York Credit & Financial Management Assn 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.