St Nicholas Home Inc
St Nicholas Home Inc faces severe financial instability with consistent deficits and increasing liabilities.
EIN: 116263923 · Brooklyn, NY · NTEE: P750 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.5M |
| Total Expenses | $500K |
| Program Spending | 70% |
| Net Assets | $-2,104,755 |
| Transparency Score | 35/100 |
Is St Nicholas Home Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
St Nicholas Home Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About St Nicholas Home Inc
St Nicholas Home Inc (EIN: 116263923) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code P750. The organization reported total revenue of $10.5M and total assets of $8.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Nicholas Home Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
St Nicholas Home Inc is a large nonprofit that has been operating for 51 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -37.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5K |
| Total Expenses | $500K |
| Surplus / Deficit | $-495,439 |
| Total Assets | $409K |
| Total Liabilities | $2.5M |
| Net Assets | $-2,104,755 |
| Operating Margin | -10599.9% |
| Debt-to-Asset Ratio | 614.8% |
| Months of Reserves | 9.8 months |
Financial Health Grade: C
In 2023, St Nicholas Home Inc reported a deficit of $495K with expenses exceeding revenue, holds 9.8 months of operating reserves (strong position), has a debt-to-asset ratio of 614.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), St Nicholas Home Inc's revenue has declined at a compound annual growth rate (CAGR) of -37.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -106.5% | +8.3% | +16.3% |
| 2021 | -62.7% | -79.1% | +9.3% |
| 2020 | -22.2% | +24.8% | +64.7% |
| 2019 | -8.5% | +7.5% | -39.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1975 |
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 Nicholas Home Inc with a Mission Score of 35 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, St Nicholas Home Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $495K, with expenses exceeding revenue.
- Debt-to-asset ratio: 614.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer-led executive team or that executive compensation is not separately disclosed, which could obscure a complete picture of administrative costs.
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 Nicholas Home Inc's IRS 990 filings:
- Consistent and significant deficit spending (e.g., 2023 revenue $4,674 vs. expenses $500,113).
- Dramatic increase in liabilities from $164,174 in 2014 to $2,513,589 in 2023.
- Sharp decline in assets from $1,650,119 in 2014 to $408,834 in 2023.
- Reported negative revenue in 2022 ($-22,510).
- Lack of detailed explanation for financial volatility and increasing debt.
Strengths
The following positive indicators were identified for St Nicholas Home Inc:
- No reported officer compensation, potentially indicating a volunteer-driven leadership.
Frequently Asked Questions about St Nicholas Home Inc
Is St Nicholas Home Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, St Nicholas Home Inc (EIN: 116263923) significant concerns. Mission Score: 35/100. 5 red flags identified, 1 strength noted.
How does St Nicholas Home Inc spend its money?
St Nicholas Home Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to St Nicholas Home Inc tax-deductible?
St Nicholas Home Inc is registered as a tax-exempt nonprofit (EIN: 116263923). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of St Nicholas Home Inc's spending goes to programs?
St Nicholas Home Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does St Nicholas Home Inc compare to similar nonprofits?
With a transparency score of 35/100 (Poor), St Nicholas Home Inc is below average for NTEE category P750 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is St Nicholas Home Inc located?
St Nicholas Home Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 116263923. It is classified under NTEE code P750.
How many years of IRS 990 filings does St Nicholas Home Inc have?
St Nicholas Home Inc 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 $10.5M in total revenue.
Is St Nicholas Home Inc financially sustainable?
Based on the consistent pattern of expenses significantly exceeding revenues, particularly in recent years (e.g., 2023 revenue $4,674 vs. expenses $500,113), the organization's financial sustainability appears to be severely challenged.
What caused the dramatic increase in liabilities from $164,174 in 2014 to $2,513,589 in 2023?
The filings do not provide specific details on the nature of these liabilities, but such a substantial increase suggests significant debt or other financial obligations that warrant further investigation.
How does St Nicholas Home Inc cover its operational expenses given the reported negative or extremely low revenues?
The consistent deficits imply the organization is either drawing down on reserves (which are declining) or relying on other undisclosed funding sources, or accumulating debt, as evidenced by the rising liabilities.
What is the explanation for the 'negative revenue' reported in 2022?
Negative revenue typically indicates a return of funds, significant adjustments, or a net loss from revenue-generating activities, which is a serious financial indicator requiring clarification.
Filing History
IRS 990 filing history for St Nicholas Home Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), St Nicholas Home Inc's revenue has declined by 99.6%, moving from $1.2M to $5K. Total assets decreased by 78.6% over the same period, from $1.9M to $409K. Total functional expenses fell by 67.6%, from $1.5M to $500K. In its most recent filing year (2023), St Nicholas Home Inc reported a deficit of $495K, with expenses exceeding revenue. The organization holds $2.5M in liabilities against $409K in assets (debt-to-asset ratio: 614.8%), resulting in net assets of $-2,104,755.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5K | $500K | $409K | $2.5M | — | View 990 |
| 2022 | $-22,510 | $448K | $799K | $2.4M | — | View 990 |
| 2021 | $345K | $414K | $687K | $1.8M | — | View 990 |
| 2020 | $927K | $2.0M | $629K | $1.7M | — | — |
| 2019 | $1.2M | $1.6M | $382K | $407K | — | View 990 |
| 2018 | $1.3M | $1.5M | $634K | $122K | — | View 990 |
| 2017 | $1.4M | $1.7M | $900K | $189K | — | View 990 |
| 2016 | $1.3M | $1.5M | $1.2M | $220K | — | View 990 |
| 2015 | $1.4M | $1.5M | $1.4M | $218K | — | View 990 |
| 2014 | $1.3M | $1.5M | $1.7M | $164K | — | View 990 |
| 2013 | $1.3M | $1.5M | $1.8M | $159K | — | View 990 |
| 2012 | $1.5M | $1.5M | $2.0M | $187K | — | View 990 |
| 2011 | $1.2M | $1.5M | $1.9M | $143K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5K, expenses of $500K, and assets of $409K.
- 2022: Revenue of $-22,510, expenses of $448K, and assets of $799K (revenue -106.5% year-over-year).
- 2021: Revenue of $345K, expenses of $414K, and assets of $687K (revenue -62.7% year-over-year).
- 2020: Revenue of $927K, expenses of $2.0M, and assets of $629K (revenue -22.2% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.6M, and assets of $382K (revenue -8.5% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.5M, and assets of $634K (revenue -8.6% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.7M, and assets of $900K (revenue +12.5% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.5M, and assets of $1.2M (revenue -7.0% year-over-year).
- 2015: Revenue of $1.4M, expenses of $1.5M, and assets of $1.4M (revenue +2.7% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.5M, and assets of $1.7M (revenue -0.7% year-over-year).
- 2013: Revenue of $1.3M, expenses of $1.5M, and assets of $1.8M (revenue -11.5% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.5M, and assets of $2.0M (revenue +26.0% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.5M, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for St Nicholas Home Inc:
Data Sources and Methodology
This transparency report for St Nicholas Home 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.