Royal Charter Properties East Inc

Royal Charter Properties East Inc. consistently operates with negative net assets despite stable revenues.

EIN: 133158496 · New York, NY · NTEE: E110 · Updated: 2026-03-28

$83.1MRevenue

$200.2MAssets

65/100Mission Score (Good)

E110

About Royal Charter Properties East Inc

Royal Charter Properties East Inc (EIN: 133158496) is a nonprofit organization based in New York, NY, classified under NTEE code E110. The organization reported total revenue of $83.1M and total assets of $200.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Royal Charter Properties East Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Royal Charter Properties East Inc. demonstrates consistent financial activity with revenues generally exceeding expenses, indicating operational stability. For instance, in 2023, revenue was $80,394,082 against expenses of $79,361,901. However, a notable concern is the organization's persistent negative net assets, with liabilities consistently exceeding assets across all reported periods. In 2023, liabilities were $207,052,665 compared to assets of $200,354,678, suggesting a reliance on debt or specific accounting practices that warrant further investigation to understand the long-term financial health and sustainability.

The organization's spending efficiency is difficult to fully assess without a detailed functional expense breakdown (program, administrative, fundraising). The provided data only shows total expenses. However, the consistent positive margin between revenue and expenses, albeit small, suggests that the organization is managing its operational costs within its income. The absence of reported officer compensation across all filings indicates either a volunteer-led executive team or that compensation is reported under other expense categories, which could impact transparency regarding leadership costs.

Regarding transparency, the consistent filing of IRS Form 990s over 14 periods is a positive indicator. However, the lack of reported officer compensation and the ongoing negative net asset position are areas where greater detail and explanation would enhance transparency and allow for a more comprehensive financial assessment. Without a breakdown of expenses into program, administrative, and fundraising categories, it's challenging to determine the efficiency of resource allocation towards its mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Royal Charter Properties East Inc 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, Royal Charter Properties East Inc 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all 14 filings, which is unusual for an entity with revenues exceeding $80 million, suggesting either a fully volunteer executive leadership or that compensation is categorized differently, impacting transparency.

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 Royal Charter Properties East Inc's IRS 990 filings:

Consistent negative net assets (liabilities exceed assets in all reported periods, e.g., $207,052,665 liabilities vs. $200,354,678 assets in 2023).
No reported officer compensation despite significant revenue, raising questions about executive leadership costs.
Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data, hindering efficiency assessment.

Strengths

The following positive indicators were identified for Royal Charter Properties East Inc:

Consistent revenue generation exceeding expenses, indicating operational stability (e.g., $80,394,082 revenue vs. $79,361,901 expenses in 2023).
Long history of IRS 990 filings (14 filings), demonstrating compliance with reporting requirements.
Significant asset base (over $200 million in recent years), providing substantial resources, albeit offset by liabilities.

Frequently Asked Questions about Royal Charter Properties East Inc

Why does Royal Charter Properties East Inc. consistently report liabilities exceeding assets?

The consistent reporting of liabilities exceeding assets (e.g., $207,052,665 liabilities vs. $200,354,678 assets in 2023) indicates a persistent negative net asset position, which could be due to specific financing structures, long-term debt, or accounting treatments that require further clarification to understand the organization's solvency.

Is the organization's financial model sustainable given its negative net assets?

While the organization consistently generates more revenue than expenses (e.g., $80,394,082 revenue vs. $79,361,901 expenses in 2023), the long-term sustainability of a model with persistent negative net assets is a concern. It suggests a reliance on external financing or specific asset/liability management strategies that need to be understood to assess long-term viability.

How does Royal Charter Properties East Inc. manage to operate without reporting officer compensation?

The consistent reporting of 0% officer compensation across all filings for an organization of this size ($80M+ revenue) is highly unusual. It suggests either a volunteer-led executive team or that executive compensation is reported under other expense categories, which could obscure the true cost of leadership.

What is the breakdown of program, administrative, and fundraising expenses?

The provided IRS 990 data does not offer a detailed functional expense breakdown. Without this information, it is challenging to accurately assess how efficiently the organization allocates its resources towards its stated mission versus administrative overhead and fundraising efforts.

Filing History

IRS 990 filing history for Royal Charter Properties East Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Royal Charter Properties East Inc's revenue has grown by 33.4%, moving from $60.3M to $80.4M. Total assets decreased by 23% over the same period, from $260.1M to $200.4M. Total functional expenses rose by 32.7%, from $59.8M to $79.4M. In its most recent filing year (2023), Royal Charter Properties East Inc reported a surplus of $1.0M, with revenue exceeding expenses. The organization holds $207.1M in liabilities against $200.4M in assets (debt-to-asset ratio: 103.3%), resulting in net assets of $-6,697,987.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$80.4M	$79.4M	$200.4M	$207.1M	—	View 990
2022	$67.6M	$66.6M	$207.2M	$212.6M	—	View 990
2021	$60.9M	$59.9M	$212.6M	$221.1M	—	View 990
2020	$69.5M	$68.4M	$220.2M	$230.2M	—	View 990
2019	$72.1M	$71.1M	$219.6M	$231.4M	—	View 990
2018	$71.8M	$70.8M	$223.8M	$235.8M	—	View 990
2017	$74.5M	$72.2M	$229.6M	$241.8M	—	View 990
2016	$75.3M	$74.3M	$231.2M	$243.9M	—	View 990
2015	$70.5M	$67.7M	$234.2M	$248.8M	—	View 990
2014	$68.3M	$66.7M	$236.9M	$254.7M	—	View 990
2013	$65.0M	$72.5M	$246.2M	$259.9M	—	View 990
2012	$66.6M	$65.6M	$248.4M	$262.4M	—	View 990
2011	$64.3M	$63.1M	$254.9M	$264.9M	—	View 990
2010	$60.3M	$59.8M	$260.1M	$269.8M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $80.4M, expenses of $79.4M, and assets of $200.4M (revenue +18.9% year-over-year).
2022: Revenue of $67.6M, expenses of $66.6M, and assets of $207.2M (revenue +11.0% year-over-year).
2021: Revenue of $60.9M, expenses of $59.9M, and assets of $212.6M (revenue -12.3% year-over-year).
2020: Revenue of $69.5M, expenses of $68.4M, and assets of $220.2M (revenue -3.7% year-over-year).
2019: Revenue of $72.1M, expenses of $71.1M, and assets of $219.6M (revenue +0.4% year-over-year).
2018: Revenue of $71.8M, expenses of $70.8M, and assets of $223.8M (revenue -3.5% year-over-year).
2017: Revenue of $74.5M, expenses of $72.2M, and assets of $229.6M (revenue -1.1% year-over-year).
2016: Revenue of $75.3M, expenses of $74.3M, and assets of $231.2M (revenue +6.8% year-over-year).
2015: Revenue of $70.5M, expenses of $67.7M, and assets of $234.2M (revenue +3.2% year-over-year).
2014: Revenue of $68.3M, expenses of $66.7M, and assets of $236.9M (revenue +5.0% year-over-year).
2013: Revenue of $65.0M, expenses of $72.5M, and assets of $246.2M (revenue -2.4% year-over-year).
2012: Revenue of $66.6M, expenses of $65.6M, and assets of $248.4M (revenue +3.7% year-over-year).
2011: Revenue of $64.3M, expenses of $63.1M, and assets of $254.9M (revenue +6.6% year-over-year).
2010: Revenue of $60.3M, expenses of $59.8M, and assets of $260.1M.

Data Sources and Methodology

This transparency report for Royal Charter Properties East Inc 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.