Renaissance Economic Development Corporation
Renaissance Economic Development Corporation reports a $1 million operating deficit in 2023, with no officer compensation.
EIN: 133946529 · New York, NY · NTEE: S30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.1M |
| Total Expenses | $5.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $30 |
| Net Assets | $18.5M |
| Transparency Score | 85/100 |
Is Renaissance 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 →
Renaissance Economic Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Renaissance Economic Development Corporation
Renaissance Economic Development Corporation (EIN: 133946529) is a nonprofit organization based in New York, NY, classified under NTEE code S30. The organization reported total revenue of $6.1M and total assets of $33.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Renaissance Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Renaissance Economic Development Corporation is a mid-size nonprofit that has been operating for 28 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 8.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.1M |
| Total Expenses | $5.1M |
| Surplus / Deficit | $-1,015,940 |
| Total Assets | $32.6M |
| Total Liabilities | $14.1M |
| Net Assets | $18.5M |
| Operating Margin | -24.7% |
| Debt-to-Asset Ratio | 43.1% |
| Months of Reserves | 76.3 months |
Financial Health Grade: B
In 2023, Renaissance Economic Development Corporation reported a deficit of $1.0M with expenses exceeding revenue, holds 76.3 months of operating reserves (strong position), has a debt-to-asset ratio of 43.1% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Renaissance Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 8.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.7% | +41.2% | +4.2% |
| 2022 | -22.4% | +18.5% | -11.9% |
| 2021 | -18.3% | -9.4% | +4.3% |
| 2020 | +195.1% | +34.3% | +26.6% |
| 2019 | -4.9% | +9.6% | +3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 Renaissance Economic Development Corporation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Renaissance Economic Development Corporation 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 $1.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 43.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all 14 available filings, including the latest in 2023. This is highly unusual for an organization with assets exceeding $30 million and suggests either a volunteer-led executive team or compensation structured in a way that is not reported as officer compensation on the 990, indicating a strong commitment to minimizing top-level salary expenses.
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 Renaissance Economic Development Corporation's IRS 990 filings:
- Operating deficit in 2023 ($4.1M revenue vs. $5.1M expenses)
- Declining revenue trend since 2020 peak ($6.6M in 2020 to $4.1M in 2023)
Strengths
The following positive indicators were identified for Renaissance Economic Development Corporation:
- Consistent reporting of 0% officer compensation, indicating strong fiscal discipline at the executive level.
- Substantial and stable asset base ($33.7M latest, $32.5M in 2023) providing financial resilience.
- Long history of IRS 990 filings (14 filings), suggesting transparency and established operations.
Frequently Asked Questions about Renaissance Economic Development Corporation
Is Renaissance Economic Development Corporation a legitimate charity?
Renaissance Economic Development Corporation (EIN: 133946529) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $6.1M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Renaissance Economic Development Corporation spend its money?
Renaissance Economic Development Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Renaissance Economic Development Corporation tax-deductible?
Renaissance Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 133946529). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Renaissance Economic Development Corporation CEO make?
Renaissance Economic Development Corporation's highest-compensated officer earns $30 annually. The organization reported $6.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Renaissance Economic Development Corporation's spending goes to programs?
Renaissance Economic Development Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Renaissance Economic Development Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Renaissance Economic Development Corporation is above average for NTEE category S30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Renaissance Economic Development Corporation located?
Renaissance Economic Development Corporation is headquartered in New York, New York and files with the IRS under EIN 133946529. It is classified under NTEE code S30.
How many years of IRS 990 filings does Renaissance Economic Development Corporation have?
Renaissance Economic Development Corporation has 14 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 $6.1M in total revenue.
Is Renaissance Economic Development Corporation financially stable given the 2023 operating deficit?
While the organization reported an operating deficit of approximately $1 million in 2023 ($4.1M revenue vs. $5.1M expenses), its substantial asset base of $32.5M and historical financial performance suggest it likely has reserves or other funding mechanisms to absorb such fluctuations. However, sustained deficits would be a concern.
How does Renaissance Economic Development Corporation manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size. It could indicate that executive leadership is entirely volunteer-based, compensated through a related entity, or that their compensation is categorized differently on the 990, such as under general salaries and wages rather than specific officer compensation.
What is the trend in the organization's liabilities?
Liabilities have shown an increasing trend over the past decade, from $7.7M in 2015 to $14.0M in 2023. This is not necessarily a red flag for a CDFI, as it often reflects increased loan capital or other program-related debt, but it's important to ensure these liabilities are well-managed relative to assets.
Filing History
IRS 990 filing history for Renaissance Economic Development Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Renaissance Economic Development Corporation's revenue has grown by 182.4%, moving from $1.5M to $4.1M. Total assets increased by 121.2% over the same period, from $14.7M to $32.6M. Total functional expenses rose by 139%, from $2.1M to $5.1M. In its most recent filing year (2023), Renaissance Economic Development Corporation reported a deficit of $1.0M, with expenses exceeding revenue. The organization holds $14.1M in liabilities against $32.6M in assets (debt-to-asset ratio: 43.1%), resulting in net assets of $18.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.1M | $5.1M | $32.6M | $14.1M | — | — |
| 2022 | $4.2M | $3.6M | $31.3M | $11.7M | — | View 990 |
| 2021 | $5.4M | $3.1M | $35.5M | $16.6M | — | View 990 |
| 2020 | $6.7M | $3.4M | $34.0M | $17.5M | — | View 990 |
| 2019 | $2.3M | $2.5M | $26.9M | $13.6M | — | View 990 |
| 2018 | $2.4M | $2.3M | $25.9M | $12.4M | — | View 990 |
| 2017 | $2.2M | $2.2M | $26.9M | $13.4M | — | View 990 |
| 2016 | $2.3M | $2.1M | $23.7M | $10.3M | — | View 990 |
| 2015 | $2.6M | $2.0M | $20.9M | $7.7M | — | View 990 |
| 2014 | $1.7M | $1.7M | $20.7M | $8.2M | — | View 990 |
| 2013 | $2.0M | $2.0M | $20.1M | $7.6M | — | View 990 |
| 2012 | $2.3M | $1.9M | $19.0M | $6.4M | — | View 990 |
| 2011 | $1.6M | $1.5M | $17.3M | $5.0M | — | View 990 |
| 2010 | $1.5M | $2.1M | $14.7M | $2.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.1M, expenses of $5.1M, and assets of $32.6M (revenue -2.7% year-over-year).
- 2022: Revenue of $4.2M, expenses of $3.6M, and assets of $31.3M (revenue -22.4% year-over-year).
- 2021: Revenue of $5.4M, expenses of $3.1M, and assets of $35.5M (revenue -18.3% year-over-year).
- 2020: Revenue of $6.7M, expenses of $3.4M, and assets of $34.0M (revenue +195.1% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.5M, and assets of $26.9M (revenue -4.9% year-over-year).
- 2018: Revenue of $2.4M, expenses of $2.3M, and assets of $25.9M (revenue +5.8% year-over-year).
- 2017: Revenue of $2.2M, expenses of $2.2M, and assets of $26.9M (revenue -3.7% year-over-year).
- 2016: Revenue of $2.3M, expenses of $2.1M, and assets of $23.7M (revenue -11.2% year-over-year).
- 2015: Revenue of $2.6M, expenses of $2.0M, and assets of $20.9M (revenue +56.3% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.7M, and assets of $20.7M (revenue -17.7% year-over-year).
- 2013: Revenue of $2.0M, expenses of $2.0M, and assets of $20.1M (revenue -10.3% year-over-year).
- 2012: Revenue of $2.3M, expenses of $1.9M, and assets of $19.0M (revenue +40.3% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.5M, and assets of $17.3M (revenue +11.4% year-over-year).
- 2010: Revenue of $1.5M, expenses of $2.1M, and assets of $14.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Renaissance Economic Development Corporation:
Data Sources and Methodology
This transparency report for Renaissance 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.