Staten Island Economic Development Corporation
Staten Island Economic Development Corporation maintains stable finances with no reported officer compensation.
EIN: 133706442 · Staten Island, NY · NTEE: S30Z · Updated: 2026-03-28
About Staten Island Economic Development Corporation
Staten Island Economic Development Corporation (EIN: 133706442) is a nonprofit organization based in Staten Island, NY, classified under NTEE code S30Z. The organization reported total revenue of $2.3M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Staten Island Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Staten Island Economic Development Corporation with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Staten Island Economic Development Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $2 million in annual revenue. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently within their financial statements, warranting further inquiry for complete 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 Staten Island Economic Development Corporation's IRS 990 filings:
- Unusually low (0%) reported officer compensation, which may obscure actual executive compensation if categorized differently.
Strengths
The following positive indicators were identified for Staten Island Economic Development Corporation:
- Consistent financial stability with revenues generally covering expenses.
- Significant growth in assets over the past decade, from $993,377 in 2014 to $2,388,772 in 2023.
- No reported officer compensation, indicating a potential high efficiency in leadership costs or volunteer leadership.
- Positive net assets, with assets consistently exceeding liabilities.
Frequently Asked Questions about Staten Island Economic Development Corporation
Is Staten Island Economic Development Corporation a good charity?
Based on the available IRS 990 data, SIEDC appears to be a well-managed organization with stable finances and a strong commitment to its mission, as indicated by consistent operations and no reported officer compensation. However, the lack of reported officer compensation warrants further investigation to understand the full compensation structure.
How does SIEDC manage its executive compensation?
SIEDC consistently reports 0% officer compensation in its IRS 990 filings. This is highly unusual for an organization of its size and suggests that executive leadership may be volunteer-based or compensated through other means not classified as officer compensation, which would require a deeper dive into their detailed financial statements.
Has SIEDC's financial health improved over time?
Yes, SIEDC's financial health has shown improvement. Assets have grown from $993,377 in 2014 to $2,388,772 in 2023, and revenues have generally increased, indicating a growing capacity to fulfill its mission.
Filing History
IRS 990 filing history for Staten Island Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Staten Island Economic Development Corporation's revenue has grown by 32.7%, moving from $1.8M to $2.4M. Total assets increased by 205.6% over the same period, from $782K to $2.4M. Total functional expenses rose by 34.4%, from $1.7M to $2.3M. In its most recent filing year (2023), Staten Island Economic Development Corporation reported a surplus of $58K, with revenue exceeding expenses. The organization holds $582K in liabilities against $2.4M in assets (debt-to-asset ratio: 24.3%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.3M | $2.4M | $582K | — | — |
| 2022 | $2.0M | $2.0M | $2.4M | $700K | — | — |
| 2021 | $2.2M | $1.9M | $2.0M | $277K | — | View 990 |
| 2020 | $1.9M | $1.7M | $1.8M | $455K | — | View 990 |
| 2019 | $2.3M | $2.2M | $1.4M | $245K | — | View 990 |
| 2018 | $2.1M | $2.1M | $1.2M | $249K | — | View 990 |
| 2017 | $1.9M | $1.8M | $1.3M | $369K | — | View 990 |
| 2016 | $2.2M | $2.3M | $1.2M | $399K | — | View 990 |
| 2015 | $1.8M | $1.7M | $1.2M | $327K | — | View 990 |
| 2014 | $1.7M | $1.6M | $993K | $268K | — | View 990 |
| 2013 | $1.6M | $1.6M | $876K | $239K | — | View 990 |
| 2012 | $1.6M | $1.5M | $782K | $147K | — | View 990 |
| 2011 | $1.8M | $1.7M | $782K | $208K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.3M, and assets of $2.4M (revenue +17.1% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.0M, and assets of $2.4M (revenue -9.3% year-over-year).
- 2021: Revenue of $2.2M, expenses of $1.9M, and assets of $2.0M (revenue +15.9% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.7M, and assets of $1.8M (revenue -17.1% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.2M, and assets of $1.4M (revenue +9.1% year-over-year).
- 2018: Revenue of $2.1M, expenses of $2.1M, and assets of $1.2M (revenue +11.9% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.8M, and assets of $1.3M (revenue -12.8% year-over-year).
- 2016: Revenue of $2.2M, expenses of $2.3M, and assets of $1.2M (revenue +19.1% year-over-year).
- 2015: Revenue of $1.8M, expenses of $1.7M, and assets of $1.2M (revenue +8.1% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.6M, and assets of $993K (revenue +9.2% year-over-year).
- 2013: Revenue of $1.6M, expenses of $1.6M, and assets of $876K (revenue -2.1% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.5M, and assets of $782K (revenue -11.3% year-over-year).
- 2011: Revenue of $1.8M, expenses of $1.7M, and assets of $782K.
Data Sources and Methodology
This transparency report for Staten Island 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.