Providence Rest
Providence Rest consistently operates at a deficit, drawing down assets over recent years.
EIN: 131740301 · New York, NY · NTEE: E910 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $37.8M |
| Total Expenses | $35.7M |
| Program Spending | 80% |
| Net Assets | $3.9M |
| Transparency Score | 65/100 |
Is Providence Rest Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Providence Rest directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Providence Rest
Providence Rest (EIN: 131740301) is a nonprofit organization based in New York, NY, classified under NTEE code E910. The organization reported total revenue of $37.8M and total assets of $28.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Providence Rest's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Providence Rest is a large nonprofit that has been operating for 80 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $34.4M |
| Total Expenses | $35.7M |
| Surplus / Deficit | $-1,362,508 |
| Total Assets | $31.0M |
| Total Liabilities | $27.1M |
| Net Assets | $3.9M |
| Operating Margin | -4.0% |
| Debt-to-Asset Ratio | 87.5% |
| Months of Reserves | 10.4 months |
Financial Health Grade: C
In 2023, Providence Rest reported a deficit of $1.4M with expenses exceeding revenue, holds 10.4 months of operating reserves (strong position), has a debt-to-asset ratio of 87.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Providence Rest's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.2% | +6.7% | +0.0% |
| 2022 | +1.0% | +10.2% | -18.3% |
| 2021 | +0.6% | -1.9% | -9.8% |
| 2020 | -7.9% | -4.3% | -6.5% |
| 2019 | +2.8% | +6.6% | -0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1946 |
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 Providence Rest 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Providence Rest allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $1.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 87.5%.
Executive Compensation Analysis
Providence Rest consistently reports 0% officer compensation across all available filings, suggesting that its leadership is either unpaid or compensated through non-officer channels, which is a positive indicator for transparency and resource allocation.
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 Providence Rest's IRS 990 filings:
- Consistent operating deficits: Expenses have exceeded revenue in most recent filings (e.g., 2023, 2022, 2021, 2020, 2019, 2018, 2017).
- Significant decline in total assets: Assets decreased from $82,732,554 in 2016 to $31,028,914 in 2023.
- Increasing liabilities relative to assets in some periods: Liabilities were $27,146,429 in 2023 against $31,028,914 in assets, indicating a high leverage.
Strengths
The following positive indicators were identified for Providence Rest:
- Zero reported officer compensation: All available filings show 0% officer compensation, indicating strong transparency in this area.
- Long operating history: The organization has 13 filings, demonstrating a long-standing presence in its mission area.
Frequently Asked Questions about Providence Rest
Is Providence Rest a legitimate charity?
Providence Rest (EIN: 131740301) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $37.8M. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Providence Rest spend its money?
Providence Rest directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Providence Rest tax-deductible?
Providence Rest is registered as a tax-exempt nonprofit (EIN: 131740301). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Providence Rest's spending goes to programs?
Providence Rest directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Providence Rest compare to similar nonprofits?
With a transparency score of 65/100 (Good), Providence Rest is above average for NTEE category E910 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Providence Rest located?
Providence Rest is headquartered in New York, New York and files with the IRS under EIN 131740301. It is classified under NTEE code E910.
How many years of IRS 990 filings does Providence Rest have?
Providence Rest has 13 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 $37.8M in total revenue.
Is Providence Rest financially sustainable given its consistent operating deficits?
Providence Rest has consistently reported expenses exceeding revenue for several years, such as $35,717,083 in expenses vs. $34,354,575 in revenue in 2023. This trend suggests a reliance on drawing down assets, which have decreased from $82,732,554 in 2016 to $31,028,914 in 2023, raising concerns about long-term financial sustainability.
What is the reason for the significant decline in assets?
The organization's assets have declined significantly from $82,732,554 in 2016 to $31,028,914 in 2023. This could be due to consistent operating deficits, asset sales, or revaluation, but the specific reasons are not detailed in the provided summary data.
How does Providence Rest cover its operating deficits?
With expenses consistently higher than revenue (e.g., $35,717,083 expenses vs. $34,354,575 revenue in 2023), Providence Rest appears to be covering its operating deficits by utilizing its existing assets, which have shown a significant decline over the past several years.
Filing History
IRS 990 filing history for Providence Rest showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Providence Rest's revenue has grown by 17.4%, moving from $29.3M to $34.4M. Total assets decreased by 48.8% over the same period, from $60.6M to $31.0M. Total functional expenses rose by 27.4%, from $28.0M to $35.7M. In its most recent filing year (2023), Providence Rest reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $27.1M in liabilities against $31.0M in assets (debt-to-asset ratio: 87.5%), resulting in net assets of $3.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $34.4M | $35.7M | $31.0M | $27.1M | — | — |
| 2022 | $27.7M | $33.5M | $31.0M | $27.4M | — | View 990 |
| 2021 | $27.4M | $30.4M | $38.0M | $25.7M | — | View 990 |
| 2020 | $27.2M | $31.0M | $42.1M | $28.9M | — | View 990 |
| 2019 | $29.6M | $32.3M | $45.0M | $27.4M | — | View 990 |
| 2018 | $28.8M | $30.3M | $45.3M | $26.3M | — | View 990 |
| 2017 | $30.1M | $30.8M | $47.6M | $25.9M | — | View 990 |
| 2016 | $32.2M | $31.5M | $82.7M | $61.1M | — | View 990 |
| 2015 | $33.0M | $30.5M | $62.6M | $40.7M | — | View 990 |
| 2014 | $29.8M | $29.5M | $61.7M | $42.0M | — | View 990 |
| 2013 | $28.5M | $28.0M | $62.7M | $43.8M | — | View 990 |
| 2012 | $30.4M | $29.1M | $61.1M | $43.6M | — | View 990 |
| 2011 | $29.3M | $28.0M | $60.6M | $44.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $34.4M, expenses of $35.7M, and assets of $31.0M (revenue +24.2% year-over-year).
- 2022: Revenue of $27.7M, expenses of $33.5M, and assets of $31.0M (revenue +1.0% year-over-year).
- 2021: Revenue of $27.4M, expenses of $30.4M, and assets of $38.0M (revenue +0.6% year-over-year).
- 2020: Revenue of $27.2M, expenses of $31.0M, and assets of $42.1M (revenue -7.9% year-over-year).
- 2019: Revenue of $29.6M, expenses of $32.3M, and assets of $45.0M (revenue +2.8% year-over-year).
- 2018: Revenue of $28.8M, expenses of $30.3M, and assets of $45.3M (revenue -4.3% year-over-year).
- 2017: Revenue of $30.1M, expenses of $30.8M, and assets of $47.6M (revenue -6.6% year-over-year).
- 2016: Revenue of $32.2M, expenses of $31.5M, and assets of $82.7M (revenue -2.4% year-over-year).
- 2015: Revenue of $33.0M, expenses of $30.5M, and assets of $62.6M (revenue +10.8% year-over-year).
- 2014: Revenue of $29.8M, expenses of $29.5M, and assets of $61.7M (revenue +4.5% year-over-year).
- 2013: Revenue of $28.5M, expenses of $28.0M, and assets of $62.7M (revenue -6.2% year-over-year).
- 2012: Revenue of $30.4M, expenses of $29.1M, and assets of $61.1M (revenue +3.7% year-over-year).
- 2011: Revenue of $29.3M, expenses of $28.0M, and assets of $60.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Providence Rest:
Data Sources and Methodology
This transparency report for Providence Rest 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.