Red Hook Initiative
Red Hook Initiative shows strong asset base but faced a significant operating deficit in its latest fiscal period.
EIN: 203904662 · Brooklyn, NY · NTEE: P80 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.8M |
| Total Expenses | $5.1M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $4 |
| Net Assets | $3.8M |
| Transparency Score | 85/100 |
Is Red Hook Initiative Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Red Hook Initiative directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Red Hook Initiative
Red Hook Initiative (EIN: 203904662) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code P80. The organization reported total revenue of $4.8M and total assets of $4.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Red Hook Initiative's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Red Hook Initiative is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.4M |
| Total Expenses | $5.1M |
| Surplus / Deficit | $-1,708,914 |
| Total Assets | $4.7M |
| Total Liabilities | $882K |
| Net Assets | $3.8M |
| Operating Margin | -50.1% |
| Debt-to-Asset Ratio | 18.7% |
| Months of Reserves | 11.1 months |
Financial Health Grade: B
In 2023, Red Hook Initiative reported a deficit of $1.7M with expenses exceeding revenue, holds 11.1 months of operating reserves (strong position), has a debt-to-asset ratio of 18.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Red Hook Initiative's revenue has grown at a compound annual growth rate (CAGR) of 13.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.1% | +10.7% | -19.4% |
| 2022 | +110.8% | +5.6% | +60.8% |
| 2021 | -32.5% | -4.7% | +3.1% |
| 2020 | +26.4% | +7.3% | +49.8% |
| 2019 | +55.0% | +29.4% | +8.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Red Hook Initiative 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, Red Hook Initiative 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 deficit of $1.7M, with expenses exceeding revenue.
- Debt-to-asset ratio: 18.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of this size with annual revenues often exceeding $4 million.
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 Red Hook Initiative's IRS 990 filings:
- Significant operating deficit in the latest fiscal period (202306), with expenses exceeding revenue by over $1.7 million.
- Highly fluctuating annual revenues and expenses, indicating potential instability in funding or project cycles.
Strengths
The following positive indicators were identified for Red Hook Initiative:
- Consistent reporting of 0% officer compensation across all filings, indicating strong commitment to mission-focused spending.
- Strong asset base relative to liabilities, demonstrating good long-term financial health (e.g., $4,719,238 assets vs. $881,919 liabilities in 202306).
- History of substantial revenue generation, with several years exceeding $4 million and one year reaching nearly $8 million.
Frequently Asked Questions about Red Hook Initiative
Is Red Hook Initiative a legitimate charity?
Red Hook Initiative (EIN: 203904662) 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: $4.8M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Red Hook Initiative spend its money?
Red Hook Initiative directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Red Hook Initiative tax-deductible?
Red Hook Initiative is registered as a tax-exempt nonprofit (EIN: 203904662). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Red Hook Initiative CEO make?
Red Hook Initiative's highest-compensated officer earns $4 annually. The organization reported $4.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Red Hook Initiative's spending goes to programs?
Red Hook Initiative directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Red Hook Initiative compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Red Hook Initiative is above average for NTEE category P80 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Red Hook Initiative located?
Red Hook Initiative is headquartered in Brooklyn, New York and files with the IRS under EIN 203904662. It is classified under NTEE code P80.
How many years of IRS 990 filings does Red Hook Initiative have?
Red Hook Initiative 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 $4.8M in total revenue.
Is Red Hook Initiative a good charity?
Based on the available data, Red Hook Initiative appears to be a good charity. It maintains a strong asset base relative to liabilities, and its consistent reporting of 0% officer compensation suggests a high dedication to its mission. However, the significant operating deficit in 202306 (expenses of $5,117,406 vs. revenue of $3,408,492) is a point to monitor for future financial stability.
How does Red Hook Initiative manage its executive compensation?
Red Hook Initiative consistently reports 0% officer compensation across all 13 available filings. This indicates that no officers received salaries or other compensation directly from the organization, which is a strong positive for directing funds to programs.
What is the trend in Red Hook Initiative's revenue and expenses?
Red Hook Initiative's revenue and expenses have shown significant fluctuations. For example, revenue jumped from $3,769,963 in 202106 to $7,948,570 in 202206, then dropped to $3,408,492 in 202306. Expenses also vary, with a notable increase to $5,117,406 in 202306, exceeding revenue for that period.
Is Red Hook Initiative financially stable?
While Red Hook Initiative generally maintains a healthy asset-to-liability ratio (e.g., $4,719,238 in assets vs. $881,919 in liabilities in 202306), the recent operating deficit in 202306 where expenses ($5,117,406) significantly outpaced revenue ($3,408,492) suggests a need to monitor its short-term financial stability and funding strategies.
Filing History
IRS 990 filing history for Red Hook Initiative showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Red Hook Initiative's revenue has grown by 358.1%, moving from $744K to $3.4M. Total assets increased by 862.3% over the same period, from $490K to $4.7M. Total functional expenses rose by 509.8%, from $839K to $5.1M. In its most recent filing year (2023), Red Hook Initiative reported a deficit of $1.7M, with expenses exceeding revenue. The organization holds $882K in liabilities against $4.7M in assets (debt-to-asset ratio: 18.7%), resulting in net assets of $3.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.4M | $5.1M | $4.7M | $882K | — | View 990 |
| 2022 | $7.9M | $4.6M | $5.9M | $305K | — | View 990 |
| 2021 | $3.8M | $4.4M | $3.6M | $1.4M | — | View 990 |
| 2020 | $5.6M | $4.6M | $3.5M | $700K | — | View 990 |
| 2019 | $4.4M | $4.3M | $2.4M | $222K | — | View 990 |
| 2018 | $2.9M | $3.3M | $2.2M | $179K | — | View 990 |
| 2017 | $4.0M | $3.0M | $2.6M | $163K | — | View 990 |
| 2016 | $1.6M | $1.5M | $1.6M | $144K | — | View 990 |
| 2015 | $2.3M | $3.1M | $1.4M | $105K | — | View 990 |
| 2014 | $1.8M | $2.4M | $2.4M | $255K | — | View 990 |
| 2013 | $2.8M | $2.0M | $2.8M | $118K | — | View 990 |
| 2012 | $2.5M | $1.1M | $1.9M | $56K | — | View 990 |
| 2011 | $744K | $839K | $490K | $31K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.4M, expenses of $5.1M, and assets of $4.7M (revenue -57.1% year-over-year).
- 2022: Revenue of $7.9M, expenses of $4.6M, and assets of $5.9M (revenue +110.8% year-over-year).
- 2021: Revenue of $3.8M, expenses of $4.4M, and assets of $3.6M (revenue -32.5% year-over-year).
- 2020: Revenue of $5.6M, expenses of $4.6M, and assets of $3.5M (revenue +26.4% year-over-year).
- 2019: Revenue of $4.4M, expenses of $4.3M, and assets of $2.4M (revenue +55.0% year-over-year).
- 2018: Revenue of $2.9M, expenses of $3.3M, and assets of $2.2M (revenue -29.1% year-over-year).
- 2017: Revenue of $4.0M, expenses of $3.0M, and assets of $2.6M (revenue +151.9% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.5M, and assets of $1.6M (revenue -31.0% year-over-year).
- 2015: Revenue of $2.3M, expenses of $3.1M, and assets of $1.4M (revenue +26.9% year-over-year).
- 2014: Revenue of $1.8M, expenses of $2.4M, and assets of $2.4M (revenue -34.5% year-over-year).
- 2013: Revenue of $2.8M, expenses of $2.0M, and assets of $2.8M (revenue +12.0% year-over-year).
- 2012: Revenue of $2.5M, expenses of $1.1M, and assets of $1.9M (revenue +234.2% year-over-year).
- 2011: Revenue of $744K, expenses of $839K, and assets of $490K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Red Hook Initiative:
Data Sources and Methodology
This transparency report for Red Hook Initiative 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.