New York Life Foundation
New York Life Foundation consistently directs a high percentage of expenses to programs with zero officer compensation.
EIN: 132989476 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $124.4M |
| Total Expenses | $30.8M |
| Program Spending | 87% |
| Net Assets | $117.4M |
| Transparency Score | 92/100 |
Is New York Life Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York Life Foundation directs 87% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New York Life Foundation
New York Life Foundation (EIN: 132989476) is a nonprofit organization based in New York, NY. The organization reported total revenue of $124.4M and total assets of $146.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Life Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New York Life Foundation is a major nonprofit that has been operating for 47 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $9.0M |
| Total Expenses | $30.8M |
| Surplus / Deficit | $-21,754,068 |
| Total Assets | $140.9M |
| Total Liabilities | $23.5M |
| Net Assets | $117.4M |
| Operating Margin | -241.7% |
| Debt-to-Asset Ratio | 16.7% |
| Months of Reserves | 55.0 months |
Financial Health Grade: B
In 2023, New York Life Foundation reported a deficit of $21.8M with expenses exceeding revenue, holds 55.0 months of operating reserves (strong position), has a debt-to-asset ratio of 16.7% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), New York Life Foundation's revenue has grown at a compound annual growth rate (CAGR) of 11.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -66.1% | +24.7% | -4.6% |
| 2022 | +32.0% | -32.2% | -12.3% |
| 2021 | -44.2% | -30.3% | -0.2% |
| 2020 | +288.8% | +167.3% | -13.1% |
| 2019 | +38.8% | -19.0% | +86.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1979 |
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 Life Foundation with a Mission Score of 92 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: 87%
- fundraising: 3%
According to IRS 990 filings, New York Life Foundation allocates its expenses as follows: admin: 10%, programs: 87%, fundraising: 3%. With 87% 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 $21.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 16.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the foundation, which is a strong positive for resource allocation and 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.
Strengths
The following positive indicators were identified for New York Life Foundation:
- High program spending ratio (e.g., 87% in 2023)
- Zero officer compensation reported across all filings
- Strong asset base relative to liabilities ($140.9M assets vs. $23.5M liabilities in 2023)
- Consistent history of significant charitable expenditures
- Healthy financial stability with assets significantly exceeding liabilities
Frequently Asked Questions about New York Life Foundation
Is New York Life Foundation a legitimate charity?
New York Life Foundation (EIN: 132989476) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 10 years of IRS 990 filings on record. Total revenue: $124.4M. No red flags identified. 5 strengths noted. Financial health grade: B.
How does New York Life Foundation spend its money?
New York Life Foundation directs 87% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to New York Life Foundation tax-deductible?
New York Life Foundation is registered as a tax-exempt nonprofit (EIN: 132989476). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New York Life Foundation's spending goes to programs?
New York Life Foundation directs 87% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is New York Life Foundation located?
New York Life Foundation is headquartered in New York, New York and files with the IRS under EIN 132989476.
How many years of IRS 990 filings does New York Life Foundation have?
New York Life Foundation 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 $124.4M in total revenue.
Is New York Life Foundation a good charity?
Based on its financial filings, the New York Life Foundation appears to be a very good charity. It consistently allocates a high percentage of its expenses to program services (e.g., 87% in 2023) and reports 0% officer compensation, demonstrating strong financial efficiency and a clear focus on its mission.
How does the foundation manage its finances given fluctuating revenues?
Despite significant fluctuations in annual revenue (e.g., $8.9M in 2023 vs. $26.5M in 2022), the foundation maintains a strong asset base (over $140M in 2023) and continues substantial program spending, suggesting effective management of its endowment or reserves to support its operations.
What is the trend in the foundation's assets?
The foundation's assets have generally grown over the long term, from $81.5M in 2011 to $140.9M in 2023, indicating sound financial stewardship and growth in its capacity to fulfill its mission, although there have been some year-to-year fluctuations.
Filing History
IRS 990 filing history for New York Life Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), New York Life Foundation's revenue has grown by 270.3%, moving from $2.4M to $9.0M. Total assets increased by 72.7% over the same period, from $81.6M to $140.9M. Total functional expenses rose by 150.6%, from $12.3M to $30.8M. In its most recent filing year (2023), New York Life Foundation reported a deficit of $21.8M, with expenses exceeding revenue. The organization holds $23.5M in liabilities against $140.9M in assets (debt-to-asset ratio: 16.7%), resulting in net assets of $117.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $9.0M | $30.8M | $140.9M | $23.5M | — | View 990 |
| 2022 | $26.5M | $24.7M | $147.7M | $12.3M | — | View 990 |
| 2021 | $20.1M | $36.4M | $168.4M | $15.5M | — | View 990 |
| 2020 | $36.0M | $52.2M | $168.7M | $5.9M | — | View 990 |
| 2019 | $9.3M | $19.5M | $194.1M | $17.5M | — | View 990 |
| 2015 | $6.7M | $24.1M | $103.9M | $18.9M | — | View 990 |
| 2014 | $23.1M | $14.0M | $120.9M | $13.1M | — | View 990 |
| 2013 | $34.9M | $20.5M | $115.8M | $14.2M | — | View 990 |
| 2012 | $18.8M | $14.7M | $90.3M | $9.8M | — | View 990 |
| 2011 | $2.4M | $12.3M | $81.6M | $7.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9.0M, expenses of $30.8M, and assets of $140.9M (revenue -66.1% year-over-year).
- 2022: Revenue of $26.5M, expenses of $24.7M, and assets of $147.7M (revenue +32.0% year-over-year).
- 2021: Revenue of $20.1M, expenses of $36.4M, and assets of $168.4M (revenue -44.2% year-over-year).
- 2020: Revenue of $36.0M, expenses of $52.2M, and assets of $168.7M (revenue +288.8% year-over-year).
- 2019: Revenue of $9.3M, expenses of $19.5M, and assets of $194.1M (revenue +38.8% year-over-year).
- 2015: Revenue of $6.7M, expenses of $24.1M, and assets of $103.9M (revenue -71.1% year-over-year).
- 2014: Revenue of $23.1M, expenses of $14.0M, and assets of $120.9M (revenue -33.7% year-over-year).
- 2013: Revenue of $34.9M, expenses of $20.5M, and assets of $115.8M (revenue +85.7% year-over-year).
- 2012: Revenue of $18.8M, expenses of $14.7M, and assets of $90.3M (revenue +673.4% year-over-year).
- 2011: Revenue of $2.4M, expenses of $12.3M, and assets of $81.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New York Life Foundation:
Data Sources and Methodology
This transparency report for New York Life Foundation 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.