Northern Manhattan Improvement Corp
Northern Manhattan Improvement Corp shows strong revenue and asset growth over a decade, with consistent 0% reported officer compensation.
EIN: 132972415 · New York, NY · NTEE: S200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $26.5M |
| Total Expenses | $22.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $23M |
| Net Assets | $4.8M |
| Transparency Score | 85/100 |
Is Northern Manhattan Improvement Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Northern Manhattan Improvement Corp directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Northern Manhattan Improvement Corp
Northern Manhattan Improvement Corp (EIN: 132972415) is a nonprofit organization based in New York, NY, classified under NTEE code S200. The organization reported total revenue of $26.5M and total assets of $49.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Northern Manhattan Improvement Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Northern Manhattan Improvement Corp is a large nonprofit that has been operating for 46 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $23.1M |
| Total Expenses | $22.8M |
| Surplus / Deficit | +$301K |
| Total Assets | $43.5M |
| Total Liabilities | $38.7M |
| Net Assets | $4.8M |
| Operating Margin | 1.3% |
| Debt-to-Asset Ratio | 88.9% |
| Months of Reserves | 22.9 months |
Financial Health Grade: A
In 2023, Northern Manhattan Improvement Corp reported a surplus of $301K with revenue exceeding expenses, holds 22.9 months of operating reserves (strong position), has a debt-to-asset ratio of 88.9% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Northern Manhattan Improvement Corp's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.3% | +12.3% | +275.2% |
| 2022 | +19.5% | +20.6% | +37.2% |
| 2021 | +11.5% | +5.8% | -3.7% |
| 2020 | +5.6% | +4.3% | +20.0% |
| 2019 | +6.8% | +10.5% | +24.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1980 |
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 Northern Manhattan Improvement Corp with a Mission Score of 85 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: 85%
- fundraising: 5%
According to IRS 990 filings, Northern Manhattan Improvement Corp 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 surplus of $301K, with revenue exceeding expenses.
- Debt-to-asset ratio: 88.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size ($23M+ revenue) and suggests either a volunteer leadership or that compensation is reported under different categories, requiring further clarification for complete 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 Northern Manhattan Improvement Corp's IRS 990 filings:
- Consistent 0% reported officer compensation, which is unusual for an organization of this size and could indicate a lack of transparency in reporting executive pay.
- Rapid increase in liabilities from $7.0M in 2022 to $38.6M in 2023, which, while potentially tied to asset growth, could indicate increased financial risk if not managed effectively.
Strengths
The following positive indicators were identified for Northern Manhattan Improvement Corp:
- Strong and consistent revenue growth over a decade, from $10.7M in 2014 to $23.0M in 2023, indicating increasing capacity and impact.
- Effective expense management, with expenses consistently tracking close to revenue, demonstrating financial discipline.
- Significant asset growth, from $4.6M in 2014 to $43.5M in 2023, enhancing the organization's long-term stability and capacity.
- Long history of IRS 990 filings (12 filings), indicating a commitment to public reporting and transparency.
Frequently Asked Questions about Northern Manhattan Improvement Corp
Is Northern Manhattan Improvement Corp a legitimate charity?
Northern Manhattan Improvement Corp (EIN: 132972415) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $26.5M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Northern Manhattan Improvement Corp spend its money?
Northern Manhattan Improvement Corp directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Northern Manhattan Improvement Corp tax-deductible?
Northern Manhattan Improvement Corp is registered as a tax-exempt nonprofit (EIN: 132972415). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Northern Manhattan Improvement Corp CEO make?
Northern Manhattan Improvement Corp's highest-compensated officer earns $23M annually. The organization reported $26.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Northern Manhattan Improvement Corp's spending goes to programs?
Northern Manhattan Improvement Corp directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Northern Manhattan Improvement Corp compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Northern Manhattan Improvement Corp is above average for NTEE category S200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Northern Manhattan Improvement Corp located?
Northern Manhattan Improvement Corp is headquartered in New York, New York and files with the IRS under EIN 132972415. It is classified under NTEE code S200.
How many years of IRS 990 filings does Northern Manhattan Improvement Corp have?
Northern Manhattan Improvement Corp 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 $26.5M in total revenue.
Is Northern Manhattan Improvement Corp a good charity?
Based on its consistent revenue growth, effective expense management, and significant asset accumulation, NMIC appears to be a financially healthy and growing organization. The reported 0% officer compensation, if accurate, suggests a highly efficient use of funds for its mission. However, a deeper dive into the functional expense breakdown and clarification on executive compensation reporting would provide a more complete picture.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all 12 filings is atypical for an organization of NMIC's scale. This could indicate a volunteer-led board, or that compensation for key management personnel is categorized differently within the 990, such as under 'salaries and wages' for non-officer employees, which would require further investigation to understand the full compensation structure.
What caused the significant increase in assets and liabilities from 2022 to 2023?
NMIC's assets jumped from $11.5 million in 2022 to $43.5 million in 2023, with liabilities also increasing from $7.0 million to $38.6 million. This substantial increase suggests significant capital investments, property acquisitions, or new funding initiatives, potentially involving debt financing, which warrants further examination of the 990's balance sheet details.
Filing History
IRS 990 filing history for Northern Manhattan Improvement Corp showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Northern Manhattan Improvement Corp's revenue has grown by 23.3%, moving from $18.7M to $23.1M. Total assets increased by 482.9% over the same period, from $7.5M to $43.5M. Total functional expenses rose by 20%, from $19.0M to $22.8M. In its most recent filing year (2023), Northern Manhattan Improvement Corp reported a surplus of $301K, with revenue exceeding expenses. The organization holds $38.7M in liabilities against $43.5M in assets (debt-to-asset ratio: 88.9%), resulting in net assets of $4.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $23.1M | $22.8M | $43.5M | $38.7M | — | — |
| 2022 | $21.5M | $20.3M | $11.6M | $7.1M | — | View 990 |
| 2021 | $18.0M | $16.8M | $8.5M | $5.1M | — | View 990 |
| 2020 | $16.1M | $15.9M | $8.8M | $6.7M | — | View 990 |
| 2019 | $15.3M | $15.2M | $7.3M | $5.4M | — | View 990 |
| 2018 | $14.3M | $13.8M | $5.9M | $4.0M | — | View 990 |
| 2017 | $12.3M | $12.3M | $4.7M | $3.4M | — | View 990 |
| 2016 | $11.2M | $11.9M | $4.4M | $3.1M | — | View 990 |
| 2015 | $11.2M | $11.0M | $5.6M | $3.6M | — | View 990 |
| 2014 | $10.7M | $11.0M | $4.6M | $2.8M | — | View 990 |
| 2013 | $13.5M | $13.2M | $5.1M | $3.0M | — | View 990 |
| 2012 | $18.7M | $19.0M | $7.5M | $4.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $23.1M, expenses of $22.8M, and assets of $43.5M (revenue +7.3% year-over-year).
- 2022: Revenue of $21.5M, expenses of $20.3M, and assets of $11.6M (revenue +19.5% year-over-year).
- 2021: Revenue of $18.0M, expenses of $16.8M, and assets of $8.5M (revenue +11.5% year-over-year).
- 2020: Revenue of $16.1M, expenses of $15.9M, and assets of $8.8M (revenue +5.6% year-over-year).
- 2019: Revenue of $15.3M, expenses of $15.2M, and assets of $7.3M (revenue +6.8% year-over-year).
- 2018: Revenue of $14.3M, expenses of $13.8M, and assets of $5.9M (revenue +16.5% year-over-year).
- 2017: Revenue of $12.3M, expenses of $12.3M, and assets of $4.7M (revenue +9.2% year-over-year).
- 2016: Revenue of $11.2M, expenses of $11.9M, and assets of $4.4M (revenue +0.5% year-over-year).
- 2015: Revenue of $11.2M, expenses of $11.0M, and assets of $5.6M (revenue +4.3% year-over-year).
- 2014: Revenue of $10.7M, expenses of $11.0M, and assets of $4.6M (revenue -20.5% year-over-year).
- 2013: Revenue of $13.5M, expenses of $13.2M, and assets of $5.1M (revenue -27.8% year-over-year).
- 2012: Revenue of $18.7M, expenses of $19.0M, and assets of $7.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Northern Manhattan Improvement Corp:
Data Sources and Methodology
This transparency report for Northern Manhattan Improvement Corp 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.