St Marys Residence Of New York Inc
St Marys Residence Of New York Inc consistently operates at a significant deficit, with liabilities more than doubling in a decade.
EIN: 131623864 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $6.6M |
| Program Spending | 75% |
| Net Assets | $-50,646,331 |
| Transparency Score | 40/100 |
Is St Marys Residence Of New York Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
St Marys Residence Of New York Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About St Marys Residence Of New York Inc
St Marys Residence Of New York Inc (EIN: 131623864) is a nonprofit organization based in New York, NY. The organization reported total revenue of $2.3M and total assets of $6.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Marys Residence Of New York Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
St Marys Residence Of New York Inc is a mid-size nonprofit that has been operating for 80 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $6.6M |
| Surplus / Deficit | $-4,164,286 |
| Total Assets | $7.2M |
| Total Liabilities | $57.8M |
| Net Assets | $-50,646,331 |
| Operating Margin | -171.7% |
| Debt-to-Asset Ratio | 807.3% |
| Months of Reserves | 13.0 months |
Financial Health Grade: C
In 2024, St Marys Residence Of New York Inc reported a deficit of $4.2M with expenses exceeding revenue, holds 13.0 months of operating reserves (strong position), has a debt-to-asset ratio of 807.3% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), St Marys Residence Of New York Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +10.4% | +8.7% | -8.1% |
| 2023 | +7.3% | +10.3% | -6.4% |
| 2022 | -11.9% | +1.7% | -4.4% |
| 2021 | +7.7% | -2.7% | +2.6% |
| 2020 | -7.8% | +1.6% | +20.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 1946 |
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 St Marys Residence Of New York Inc with a Mission Score of 40 out of 100 (Fair). 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: 75%
- fundraising: 10%
According to IRS 990 filings, St Marys Residence Of New York Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $4.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 807.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which suggests either a fully volunteer leadership structure or that executive compensation is not categorized as 'officer compensation' on the 990, potentially limiting transparency regarding leadership costs relative to the organization's size and financial challenges.
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 St Marys Residence Of New York Inc's IRS 990 filings:
- Consistent and significant operating deficits (e.g., $4,164,286 deficit in 202406).
- Rapidly escalating liabilities, more than doubling from $26.4M in 201506 to $57.8M in 202406.
- Liabilities significantly outweigh assets (e.g., $57.8M liabilities vs. $7.1M assets in 202406), indicating potential insolvency risk.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency assessment.
Strengths
The following positive indicators were identified for St Marys Residence Of New York Inc:
- Consistent filing of IRS 990 forms over 14 periods, indicating a commitment to regulatory compliance.
- Assets have shown growth over the decade, from $1.7M in 201506 to $7.1M in 202406, though still far below liabilities.
Frequently Asked Questions about St Marys Residence Of New York Inc
Is St Marys Residence Of New York Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, St Marys Residence Of New York Inc (EIN: 131623864) significant concerns. Mission Score: 40/100. 4 red flags identified, 2 strengths noted.
How does St Marys Residence Of New York Inc spend its money?
St Marys Residence Of New York Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to St Marys Residence Of New York Inc tax-deductible?
St Marys Residence Of New York Inc is registered as a tax-exempt nonprofit (EIN: 131623864). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of St Marys Residence Of New York Inc's spending goes to programs?
St Marys Residence Of New York Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is St Marys Residence Of New York Inc located?
St Marys Residence Of New York Inc is headquartered in New York, New York and files with the IRS under EIN 131623864.
How many years of IRS 990 filings does St Marys Residence Of New York Inc have?
St Marys Residence Of New York Inc 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 $2.3M in total revenue.
Is St Marys Residence Of New York Inc financially sustainable given its consistent operating deficits?
The organization has consistently spent significantly more than its revenue, with expenses exceeding revenue by over $4 million in the 202406 period ($6,590,147 expenses vs. $2,425,861 revenue). This pattern raises serious concerns about its long-term financial sustainability.
How are the significant operating deficits being funded?
The filings show a substantial increase in liabilities, from $26,404,928 in 201506 to $57,806,898 in 202406. This suggests that deficits are likely being covered through increased debt or other non-operating financial activities not fully detailed in the provided revenue figures.
What is the breakdown of program, administrative, and fundraising expenses?
The provided data does not include a detailed breakdown of expenses into program, administrative, and fundraising categories, making it difficult to assess spending efficiency in these areas.
Why is officer compensation consistently reported as 0%?
A consistent 0% officer compensation across all filings could indicate a volunteer-led organization or that compensation for leadership is reported under different categories, which would require further investigation for full transparency.
Filing History
IRS 990 filing history for St Marys Residence Of New York Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), St Marys Residence Of New York Inc's revenue has grown by 45.4%, moving from $1.7M to $2.4M. Total assets increased by 390.8% over the same period, from $1.5M to $7.2M. Total functional expenses rose by 155.8%, from $2.6M to $6.6M. In its most recent filing year (2024), St Marys Residence Of New York Inc reported a deficit of $4.2M, with expenses exceeding revenue. The organization holds $57.8M in liabilities against $7.2M in assets (debt-to-asset ratio: 807.3%), resulting in net assets of $-50,646,331.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $2.4M | $6.6M | $7.2M | $57.8M | — | View 990 |
| 2023 | $2.2M | $6.1M | $7.8M | $54.3M | — | View 990 |
| 2022 | $2.0M | $5.5M | $8.3M | $50.9M | — | View 990 |
| 2021 | $2.3M | $5.4M | $8.7M | $47.9M | — | — |
| 2020 | $2.2M | $5.6M | $8.5M | $44.6M | — | View 990 |
| 2019 | $2.3M | $5.5M | $7.0M | $39.7M | — | View 990 |
| 2018 | $3.0M | $4.8M | $4.4M | $34.0M | — | View 990 |
| 2017 | $1.9M | $3.8M | $2.5M | $30.3M | — | View 990 |
| 2016 | $1.9M | $3.2M | $1.8M | $27.8M | — | View 990 |
| 2015 | $1.8M | $3.0M | $1.8M | $26.4M | — | View 990 |
| 2014 | $1.8M | $2.8M | $1.7M | $25.2M | — | View 990 |
| 2013 | $1.8M | $2.9M | $1.5M | $24.0M | — | View 990 |
| 2012 | $1.7M | $2.7M | $1.6M | $22.9M | — | View 990 |
| 2011 | $1.7M | $2.6M | $1.5M | $21.8M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.4M, expenses of $6.6M, and assets of $7.2M (revenue +10.4% year-over-year).
- 2023: Revenue of $2.2M, expenses of $6.1M, and assets of $7.8M (revenue +7.3% year-over-year).
- 2022: Revenue of $2.0M, expenses of $5.5M, and assets of $8.3M (revenue -11.9% year-over-year).
- 2021: Revenue of $2.3M, expenses of $5.4M, and assets of $8.7M (revenue +7.7% year-over-year).
- 2020: Revenue of $2.2M, expenses of $5.6M, and assets of $8.5M (revenue -7.8% year-over-year).
- 2019: Revenue of $2.3M, expenses of $5.5M, and assets of $7.0M (revenue -22.8% year-over-year).
- 2018: Revenue of $3.0M, expenses of $4.8M, and assets of $4.4M (revenue +57.3% year-over-year).
- 2017: Revenue of $1.9M, expenses of $3.8M, and assets of $2.5M (revenue +0.7% year-over-year).
- 2016: Revenue of $1.9M, expenses of $3.2M, and assets of $1.8M (revenue +4.1% year-over-year).
- 2015: Revenue of $1.8M, expenses of $3.0M, and assets of $1.8M (revenue +3.8% year-over-year).
- 2014: Revenue of $1.8M, expenses of $2.8M, and assets of $1.7M (revenue +1.2% year-over-year).
- 2013: Revenue of $1.8M, expenses of $2.9M, and assets of $1.5M (revenue +1.5% year-over-year).
- 2012: Revenue of $1.7M, expenses of $2.7M, and assets of $1.6M (revenue +3.4% year-over-year).
- 2011: Revenue of $1.7M, expenses of $2.6M, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for St Marys Residence Of New York Inc:
Data Sources and Methodology
This transparency report for St Marys Residence Of New York 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.