Queens Economic Development Corporation
Queens Economic Development Corporation shows consistent financial growth and no reported officer compensation over a decade.
EIN: 112436149 · Kew Gardens, NY · NTEE: S30Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.4M |
| Total Expenses | $3.0M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $2.3M |
| Transparency Score | 92/100 |
Is Queens Economic Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Queens Economic Development Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Queens Economic Development Corporation
Queens Economic Development Corporation (EIN: 112436149) is a nonprofit organization based in Kew Gardens, NY, classified under NTEE code S30Z. The organization reported total revenue of $3.4M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Queens Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Queens Economic Development Corporation is a mid-size nonprofit that has been operating for 49 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.0M |
| Total Expenses | $3.0M |
| Surplus / Deficit | +$14K |
| Total Assets | $2.6M |
| Total Liabilities | $305K |
| Net Assets | $2.3M |
| Operating Margin | 0.5% |
| Debt-to-Asset Ratio | 11.9% |
| Months of Reserves | 10.3 months |
Financial Health Grade: A
In 2023, Queens Economic Development Corporation reported a surplus of $14K with revenue exceeding expenses, holds 10.3 months of operating reserves (strong position), has a debt-to-asset ratio of 11.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Queens Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 6.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.2% | +16.5% | +8.0% |
| 2022 | -8.5% | +10.0% | +2.8% |
| 2021 | +20.6% | +5.6% | +11.5% |
| 2020 | +14.4% | +14.6% | +20.7% |
| 2019 | +11.2% | +5.5% | +5.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1977 |
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 Queens Economic Development Corporation 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Queens Economic Development Corporation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 surplus of $14K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings from 2014 to 2023, which is highly unusual for an organization of its size with revenues reaching nearly $3 million. This suggests either that executive roles are entirely volunteer-based, or compensation is reported under other expense categories, or the organization has a unique compensation 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 Queens Economic Development Corporation's IRS 990 filings:
- Unusually low (0%) reported officer compensation, which may obscure actual executive remuneration if it's categorized elsewhere.
Strengths
The following positive indicators were identified for Queens Economic Development Corporation:
- Consistent financial growth with assets increasing from $1.4M in 2014 to $2.5M in 2023.
- Generally operates with a surplus, indicating sound financial management (e.g., $2,989,661 revenue vs. $2,975,906 expenses in 202306).
- Low liabilities relative to assets, demonstrating a healthy balance sheet.
- Strong transparency with 13 consistent IRS 990 filings.
- No reported officer compensation, suggesting a high proportion of funds potentially directed to mission.
Frequently Asked Questions about Queens Economic Development Corporation
Is Queens Economic Development Corporation a legitimate charity?
Queens Economic Development Corporation (EIN: 112436149) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.4M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Queens Economic Development Corporation spend its money?
Queens Economic Development Corporation directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Queens Economic Development Corporation tax-deductible?
Queens Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 112436149). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Queens Economic Development Corporation CEO make?
Queens Economic Development Corporation's highest-compensated officer earns $3 annually. The organization reported $3.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Queens Economic Development Corporation's spending goes to programs?
Queens Economic Development Corporation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Queens Economic Development Corporation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Queens Economic Development Corporation is above average for NTEE category S30Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Queens Economic Development Corporation located?
Queens Economic Development Corporation is headquartered in Kew Gardens, New York and files with the IRS under EIN 112436149. It is classified under NTEE code S30Z.
How many years of IRS 990 filings does Queens Economic Development Corporation have?
Queens Economic Development Corporation 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 $3.4M in total revenue.
How does Queens Economic Development Corporation manage to operate without reported officer compensation?
The provided data consistently shows 0% officer compensation. This could mean that executive leadership is entirely volunteer-based, or their compensation is categorized differently within the IRS 990, or they are compensated through a related entity not reflected in this specific line item.
What is the detailed breakdown of program, administrative, and fundraising expenses?
While the summary data doesn't provide a granular breakdown, the consistent operational surpluses and asset growth, coupled with 0% officer compensation, suggest a strong focus on programmatic spending. A full IRS 990 would be needed for precise percentages.
Has the organization faced any significant financial challenges?
Based on the provided data, the organization has consistently maintained positive net assets and generally operated with a surplus, indicating financial stability rather than significant challenges. The only period showing a slight deficit was 201406 (Revenue=$1,735,070, Expenses=$1,782,930).
Filing History
IRS 990 filing history for Queens Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Queens Economic Development Corporation's revenue has grown by 119.8%, moving from $1.4M to $3.0M. Total assets increased by 89.4% over the same period, from $1.3M to $2.6M. Total functional expenses rose by 108.4%, from $1.4M to $3.0M. In its most recent filing year (2023), Queens Economic Development Corporation reported a surplus of $14K, with revenue exceeding expenses. The organization holds $305K in liabilities against $2.6M in assets (debt-to-asset ratio: 11.9%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.0M | $3.0M | $2.6M | $305K | — | View 990 |
| 2022 | $2.6M | $2.6M | $2.4M | $129K | — | View 990 |
| 2021 | $2.8M | $2.3M | $2.3M | $107K | — | View 990 |
| 2020 | $2.4M | $2.2M | $2.1M | $347K | — | View 990 |
| 2019 | $2.1M | $1.9M | $1.7M | $149K | — | View 990 |
| 2018 | $1.9M | $1.8M | $1.6M | $194K | — | View 990 |
| 2017 | $1.9M | $1.9M | $1.6M | $205K | — | View 990 |
| 2016 | $1.9M | $1.8M | $1.6M | $280K | — | View 990 |
| 2015 | $1.7M | $1.7M | $1.5M | $244K | — | View 990 |
| 2014 | $1.7M | $1.8M | $1.4M | $217K | — | View 990 |
| 2013 | $1.6M | $1.6M | $1.5M | $209K | — | View 990 |
| 2012 | $1.6M | $1.5M | $1.5M | $223K | — | View 990 |
| 2011 | $1.4M | $1.4M | $1.3M | $191K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.0M, expenses of $3.0M, and assets of $2.6M (revenue +15.2% year-over-year).
- 2022: Revenue of $2.6M, expenses of $2.6M, and assets of $2.4M (revenue -8.5% year-over-year).
- 2021: Revenue of $2.8M, expenses of $2.3M, and assets of $2.3M (revenue +20.6% year-over-year).
- 2020: Revenue of $2.4M, expenses of $2.2M, and assets of $2.1M (revenue +14.4% year-over-year).
- 2019: Revenue of $2.1M, expenses of $1.9M, and assets of $1.7M (revenue +11.2% year-over-year).
- 2018: Revenue of $1.9M, expenses of $1.8M, and assets of $1.6M (revenue -1.7% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.9M, and assets of $1.6M (revenue -2.2% year-over-year).
- 2016: Revenue of $1.9M, expenses of $1.8M, and assets of $1.6M (revenue +15.4% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.7M, and assets of $1.5M (revenue -4.0% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.8M, and assets of $1.4M (revenue +8.2% year-over-year).
- 2013: Revenue of $1.6M, expenses of $1.6M, and assets of $1.5M (revenue +0.9% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.5M, and assets of $1.5M (revenue +16.8% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.4M, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Queens Economic Development Corporation:
Data Sources and Methodology
This transparency report for Queens Economic Development Corporation 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.