Sephardic Home For The Aged Foundation
Sephardic Home For The Aged Foundation shows highly volatile annual finances, often operating at a deficit, yet maintains substantial assets with no reported officer compensation.
EIN: 111694718 · New York, NY · NTEE: E91 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $28.4M |
| Total Expenses | $6.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $70 |
| Net Assets | $67.3M |
| Transparency Score | 85/100 |
Is Sephardic Home For The Aged Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sephardic Home For The Aged Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sephardic Home For The Aged Foundation
Sephardic Home For The Aged Foundation (EIN: 111694718) is a nonprofit organization based in New York, NY, classified under NTEE code E91. The organization reported total revenue of $28.4M and total assets of $70.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sephardic Home For The Aged Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sephardic Home For The Aged Foundation is a large nonprofit that has been operating for 72 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -22.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $6.2M |
| Surplus / Deficit | $-4,632,052 |
| Total Assets | $67.6M |
| Total Liabilities | $263K |
| Net Assets | $67.3M |
| Operating Margin | -288.2% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 130.0 months |
Financial Health Grade: B
In 2023, Sephardic Home For The Aged Foundation reported a deficit of $4.6M with expenses exceeding revenue, holds 130.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Sephardic Home For The Aged Foundation's revenue has declined at a compound annual growth rate (CAGR) of -22.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2356.4% | +5.8% | +4.9% |
| 2022 | -99.1% | +6.0% | -20.4% |
| 2021 | +74.8% | +38.8% | +4.0% |
| 2020 | -8.4% | +1.4% | +3.1% |
| 2019 | -17.8% | +26.1% | +10.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1954 |
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 Sephardic Home For The Aged Foundation 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Sephardic Home For The Aged Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 $4.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization with assets exceeding $70 million and annual expenses in the millions.
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 Sephardic Home For The Aged Foundation's IRS 990 filings:
- Frequent and significant operating deficits, such as the $4,632,052 deficit in 2023 ($1,607,289 revenue vs. $6,239,341 expenses).
- Extreme volatility in annual revenue, making financial planning and sustainability difficult to assess.
- Unusually low liabilities relative to assets in most years, which could indicate conservative financial management or a lack of significant debt obligations.
- No reported officer compensation for an organization of this size and asset base, which, while positive for efficiency, is highly uncommon and warrants further inquiry into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Sephardic Home For The Aged Foundation:
- Consistently strong asset base, providing financial stability and potential for long-term sustainability.
- Zero reported officer compensation across all filings, indicating a high degree of financial efficiency in leadership costs.
- Low liabilities in most years, suggesting a healthy balance sheet and minimal debt burden.
Frequently Asked Questions about Sephardic Home For The Aged Foundation
Is Sephardic Home For The Aged Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Sephardic Home For The Aged Foundation (EIN: 111694718) some concerns. Mission Score: 85/100. 4 red flags identified, 3 strengths noted.
How does Sephardic Home For The Aged Foundation spend its money?
Sephardic Home For The Aged Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sephardic Home For The Aged Foundation tax-deductible?
Sephardic Home For The Aged Foundation is registered as a tax-exempt nonprofit (EIN: 111694718). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Sephardic Home For The Aged Foundation CEO make?
Sephardic Home For The Aged Foundation's highest-compensated officer earns $70 annually. The organization reported $28.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Sephardic Home For The Aged Foundation's spending goes to programs?
Sephardic Home For The Aged Foundation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Sephardic Home For The Aged Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Sephardic Home For The Aged Foundation is above average for NTEE category E91 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sephardic Home For The Aged Foundation located?
Sephardic Home For The Aged Foundation is headquartered in New York, New York and files with the IRS under EIN 111694718. It is classified under NTEE code E91.
How many years of IRS 990 filings does Sephardic Home For The Aged Foundation have?
Sephardic Home For The Aged Foundation 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 $28.4M in total revenue.
How does the organization sustain operations with frequent and significant annual deficits, such as the $4.6 million deficit in 2023?
The organization likely relies on its substantial asset base, which stood at $67,601,683 in 2023, to cover operational shortfalls. This suggests a reliance on investment income or drawing down reserves rather than solely on annual contributions.
What is the nature of the 'Sephardic Home For The Aged Foundation' given its NTEE code E91 (Nursing Facilities) and the lack of officer compensation?
The NTEE code E91 suggests it's involved with nursing facilities. The lack of officer compensation might indicate that the foundation primarily acts as a supporting organization or endowment for a separate operating entity, or that executive services are provided pro bono or by an affiliated organization.
Why is there such extreme variability in annual revenue, from $65,434 in 2022 to $38,384,396 in 2014?
Such large fluctuations could be due to irregular large grants, significant one-time donations, or the sale of assets in certain years. It might also reflect the timing of distributions from an endowment or related entities.
Filing History
IRS 990 filing history for Sephardic Home For The Aged Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Sephardic Home For The Aged Foundation's revenue has declined by 95.6%, moving from $36.3M to $1.6M. Total assets increased by 34.1% over the same period, from $50.4M to $67.6M. Total functional expenses fell by 82.5%, from $35.6M to $6.2M. In its most recent filing year (2023), Sephardic Home For The Aged Foundation reported a deficit of $4.6M, with expenses exceeding revenue. The organization holds $263K in liabilities against $67.6M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $67.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $6.2M | $67.6M | $263K | — | — |
| 2022 | $65K | $5.9M | $64.4M | $354K | — | View 990 |
| 2021 | $6.9M | $5.6M | $80.9M | $174K | — | View 990 |
| 2020 | $3.9M | $4.0M | $77.8M | $282K | — | View 990 |
| 2019 | $4.3M | $4.0M | $75.5M | $1.3M | — | View 990 |
| 2018 | $5.2M | $3.1M | $68.3M | $2.6M | — | View 990 |
| 2017 | $3.1M | $4.2M | $73.7M | $2.1M | — | View 990 |
| 2016 | $4.3M | $770K | $68.2M | $133K | — | View 990 |
| 2015 | $26.9M | $870K | $64.6M | $72K | — | View 990 |
| 2014 | $38.4M | $39.6M | $49.8M | $8.7M | — | View 990 |
| 2013 | $35.6M | $36.8M | $48.7M | $6.2M | — | View 990 |
| 2012 | $35.9M | $36.3M | $50.1M | $6.4M | — | View 990 |
| 2011 | $36.3M | $35.6M | $50.4M | $6.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $6.2M, and assets of $67.6M (revenue +2356.4% year-over-year).
- 2022: Revenue of $65K, expenses of $5.9M, and assets of $64.4M (revenue -99.1% year-over-year).
- 2021: Revenue of $6.9M, expenses of $5.6M, and assets of $80.9M (revenue +74.8% year-over-year).
- 2020: Revenue of $3.9M, expenses of $4.0M, and assets of $77.8M (revenue -8.4% year-over-year).
- 2019: Revenue of $4.3M, expenses of $4.0M, and assets of $75.5M (revenue -17.8% year-over-year).
- 2018: Revenue of $5.2M, expenses of $3.1M, and assets of $68.3M (revenue +70.7% year-over-year).
- 2017: Revenue of $3.1M, expenses of $4.2M, and assets of $73.7M (revenue -28.7% year-over-year).
- 2016: Revenue of $4.3M, expenses of $770K, and assets of $68.2M (revenue -84.0% year-over-year).
- 2015: Revenue of $26.9M, expenses of $870K, and assets of $64.6M (revenue -30.0% year-over-year).
- 2014: Revenue of $38.4M, expenses of $39.6M, and assets of $49.8M (revenue +8.0% year-over-year).
- 2013: Revenue of $35.6M, expenses of $36.8M, and assets of $48.7M (revenue -1.0% year-over-year).
- 2012: Revenue of $35.9M, expenses of $36.3M, and assets of $50.1M (revenue -1.2% year-over-year).
- 2011: Revenue of $36.3M, expenses of $35.6M, and assets of $50.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sephardic Home For The Aged Foundation:
Data Sources and Methodology
This transparency report for Sephardic Home For The Aged Foundation 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.