Provident Loan Society Of New York
Provident Loan Society of New York consistently operates with minor deficits while maintaining strong asset reserves and no reported officer compensation.
EIN: 135585375 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.1M |
| Total Expenses | $4.6M |
| Program Spending | 90% |
| Net Assets | $13.3M |
| Transparency Score | 85/100 |
Is Provident Loan Society Of New York Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Provident Loan Society Of New York directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Provident Loan Society Of New York
Provident Loan Society Of New York (EIN: 135585375) is a nonprofit organization based in New York, NY. The organization reported total revenue of $5.1M and total assets of $16.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Provident Loan Society Of New York's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Provident Loan Society Of New York is a mid-size nonprofit that has been operating for 89 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -17.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.4M |
| Total Expenses | $4.6M |
| Surplus / Deficit | $-265,905 |
| Total Assets | $15.6M |
| Total Liabilities | $2.3M |
| Net Assets | $13.3M |
| Operating Margin | -6.1% |
| Debt-to-Asset Ratio | 14.9% |
| Months of Reserves | 40.4 months |
Financial Health Grade: B
In 2023, Provident Loan Society Of New York reported a deficit of $266K with expenses exceeding revenue, holds 40.4 months of operating reserves (strong position), has a debt-to-asset ratio of 14.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Provident Loan Society Of New York's revenue has declined at a compound annual growth rate (CAGR) of -17.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.7% | +2.6% | -2.5% |
| 2022 | -0.6% | -2.3% | -2.3% |
| 2021 | -14.1% | -7.3% | +5.8% |
| 2020 | -8.7% | +0.0% | -3.5% |
| 2019 | -4.3% | +3.4% | -6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1937 |
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 Provident Loan Society Of New York 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: 90%
- fundraising: 0%
According to IRS 990 filings, Provident Loan Society Of New York allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $266K, with expenses exceeding revenue.
- Debt-to-asset ratio: 14.9%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to officers, which is highly unusual for an organization of this size and suggests a volunteer-led or exceptionally lean executive structure.
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 Provident Loan Society Of New York's IRS 990 filings:
- Recurring operational deficits (e.g., $265,905 in 202312, $265,477 in 202212) suggest expenses consistently outpace revenue.
- Significant decrease in assets over the decade (from $20,694,687 in 201412 to $15,628,690 in 202312) indicates a shrinking financial base.
- Unusually low liabilities relative to assets, combined with 0% officer compensation, could warrant further investigation into operational structure and funding mechanisms.
Strengths
The following positive indicators were identified for Provident Loan Society Of New York:
- Strong asset base ($15,628,690 in 202312) provides financial stability despite operational deficits.
- Zero reported officer compensation demonstrates a commitment to directing funds away from executive salaries.
- Low liabilities ($2,323,875 in 202312) relative to assets indicates a healthy balance sheet and minimal debt burden.
Frequently Asked Questions about Provident Loan Society Of New York
Is Provident Loan Society Of New York a legitimate charity?
Provident Loan Society Of New York (EIN: 135585375) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Provident Loan Society Of New York spend its money?
Provident Loan Society Of New York directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Provident Loan Society Of New York tax-deductible?
Provident Loan Society Of New York is registered as a tax-exempt nonprofit (EIN: 135585375). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Provident Loan Society Of New York located?
Provident Loan Society Of New York is headquartered in New York, New York and files with the IRS under EIN 135585375.
How many years of IRS 990 filings does Provident Loan Society Of New York have?
Provident Loan Society Of New York 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 $5.1M in total revenue.
How does Provident Loan Society of New York sustain operations with recurring deficits?
The organization has experienced minor deficits in recent years (e.g., $265,905 in 202312, $265,477 in 202212). It likely draws upon its substantial asset base, which was $15,628,690 in 202312, to cover these shortfalls, indicating a reliance on reserves rather than operational surplus.
What is the nature of the organization's 'programs' given its financial structure?
Without specific NTEE codes or program descriptions, it's challenging to define. However, given its name 'Provident Loan Society,' it likely involves providing loans or financial assistance, with its assets potentially serving as the principal for these activities.
Why is there no officer compensation reported?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with revenues exceeding $4 million. This could indicate a fully volunteer executive leadership, or that compensation is structured in a way not captured under 'officer compensation' on the 990, though the latter is less likely for transparency.
Filing History
IRS 990 filing history for Provident Loan Society Of New York showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Provident Loan Society Of New York's revenue has declined by 90.1%, moving from $44.4M to $4.4M. Total assets decreased by 33.9% over the same period, from $23.6M to $15.6M. Total functional expenses fell by 89.7%, from $45.3M to $4.6M. In its most recent filing year (2023), Provident Loan Society Of New York reported a deficit of $266K, with expenses exceeding revenue. The organization holds $2.3M in liabilities against $15.6M in assets (debt-to-asset ratio: 14.9%), resulting in net assets of $13.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.4M | $4.6M | $15.6M | $2.3M | — | — |
| 2022 | $4.3M | $4.5M | $16.0M | $2.3M | — | View 990 |
| 2021 | $4.3M | $4.6M | $16.4M | $2.5M | — | View 990 |
| 2020 | $5.0M | $5.0M | $15.5M | $3.0M | — | View 990 |
| 2019 | $5.5M | $5.0M | $16.1M | $3.4M | — | — |
| 2018 | $5.7M | $4.8M | $17.2M | $4.7M | — | View 990 |
| 2017 | $5.4M | $5.4M | $17.7M | $6.3M | — | View 990 |
| 2016 | $5.0M | $5.0M | $18.5M | $7.6M | — | View 990 |
| 2015 | $5.2M | $6.0M | $19.7M | $8.3M | — | View 990 |
| 2014 | $5.7M | $5.6M | $20.7M | $8.6M | — | View 990 |
| 2013 | $6.3M | $5.3M | $21.2M | $8.2M | — | View 990 |
| 2012 | $7.1M | $5.0M | $24.4M | $13.6M | — | View 990 |
| 2011 | $44.4M | $45.3M | $23.6M | $14.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.4M, expenses of $4.6M, and assets of $15.6M (revenue +2.7% year-over-year).
- 2022: Revenue of $4.3M, expenses of $4.5M, and assets of $16.0M (revenue -0.6% year-over-year).
- 2021: Revenue of $4.3M, expenses of $4.6M, and assets of $16.4M (revenue -14.1% year-over-year).
- 2020: Revenue of $5.0M, expenses of $5.0M, and assets of $15.5M (revenue -8.7% year-over-year).
- 2019: Revenue of $5.5M, expenses of $5.0M, and assets of $16.1M (revenue -4.3% year-over-year).
- 2018: Revenue of $5.7M, expenses of $4.8M, and assets of $17.2M (revenue +5.7% year-over-year).
- 2017: Revenue of $5.4M, expenses of $5.4M, and assets of $17.7M (revenue +8.6% year-over-year).
- 2016: Revenue of $5.0M, expenses of $5.0M, and assets of $18.5M (revenue -5.3% year-over-year).
- 2015: Revenue of $5.2M, expenses of $6.0M, and assets of $19.7M (revenue -7.4% year-over-year).
- 2014: Revenue of $5.7M, expenses of $5.6M, and assets of $20.7M (revenue -10.0% year-over-year).
- 2013: Revenue of $6.3M, expenses of $5.3M, and assets of $21.2M (revenue -12.0% year-over-year).
- 2012: Revenue of $7.1M, expenses of $5.0M, and assets of $24.4M (revenue -83.9% year-over-year).
- 2011: Revenue of $44.4M, expenses of $45.3M, and assets of $23.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Provident Loan Society Of New York:
Data Sources and Methodology
This transparency report for Provident Loan Society Of New York 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.