Sy Syms Foundation A New Jersey Non Profit Corp
Sy Syms Foundation: Declining Revenue, Stable Assets, and High Administrative Costs
EIN: 222617727 · Warren, NJ · Updated: 2026-04-04
About Sy Syms Foundation A New Jersey Non Profit Corp
Sy Syms Foundation A New Jersey Non Profit Corp (EIN: 222617727) is a nonprofit organization based in Warren, NJ. The organization reported total revenue of $13.1M and total assets of $29.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sy Syms Foundation A New Jersey Non Profit Corp'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 Sy Syms Foundation A New Jersey Non Profit Corp 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: 80%
- programs: 10%
- fundraising: 10%
According to IRS 990 filings, Sy Syms Foundation A New Jersey Non Profit Corp allocates its expenses as follows: admin: 80%, programs: 10%, fundraising: 10%. Only 10% is directed toward programs, which may warrant further investigation by donors.
Executive Compensation Analysis
Executive compensation is not reported in the provided filings, with 'c0%' consistently listed, which could indicate a volunteer-led board or that compensation is handled through other entities not detailed in these specific filings.
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 Sy Syms Foundation A New Jersey Non Profit Corp's IRS 990 filings:
- Significant drop in revenue from $5,071,944 in 2022 to $52,846 in 2023 without a corresponding decrease in expenses, raising sustainability concerns.
- High administrative expenses (x) relative to revenue (r) in recent years, for example, $3,454,317 in expenses against $52,846 in revenue in 2023.
- Lack of reported compensation for key personnel ('c0%') could obscure how leadership is compensated or indicate a reliance on external support.
Strengths
The following positive indicators were identified for Sy Syms Foundation A New Jersey Non Profit Corp:
- Consistent asset base, with assets (a) remaining above $29 million, providing a strong financial cushion.
- Very low reported liabilities ('l' at $2,100), indicating a healthy balance sheet with minimal debt.
- Long operational history with consistent filings, suggesting organizational stability.
Frequently Asked Questions about Sy Syms Foundation A New Jersey Non Profit Corp
What does Sy Syms Foundation A New Jersey Non Profit Corp do?
Sy Syms Foundation A New Jersey Non Profit Corp is a nonprofit organization in the Unknown sector, located in Warren, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Sy Syms Foundation A New Jersey Non Profit Corp have?
Sy Syms Foundation A New Jersey Non Profit Corp reported total revenue of $13,123,484. Based on 9 IRS 990 filings on record.
What are Sy Syms Foundation A New Jersey Non Profit Corp's total assets?
Sy Syms Foundation A New Jersey Non Profit Corp holds total assets of $29,540,606 as reported in IRS 990 filings.
Where is Sy Syms Foundation A New Jersey Non Profit Corp located?
Sy Syms Foundation A New Jersey Non Profit Corp is based in Warren, New Jersey.
What is Sy Syms Foundation A New Jersey Non Profit Corp's EIN?
Sy Syms Foundation A New Jersey Non Profit Corp's Employer Identification Number (EIN) is 222617727. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Sy Syms Foundation A New Jersey Non Profit Corp?
Sy Syms Foundation A New Jersey Non Profit Corp is classified under NTEE code Unknown (Unknown).
Is Sy Syms Foundation A New Jersey Non Profit Corp a registered 501(c)(3)?
Sy Syms Foundation A New Jersey Non Profit Corp appears in IRS records (EIN: 222617727). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Sy Syms Foundation A New Jersey Non Profit Corp file IRS Form 990?
Yes, Sy Syms Foundation A New Jersey Non Profit Corp has 9 IRS Form 990 filings on record. The most recent covers tax period 202304.
What was Sy Syms Foundation A New Jersey Non Profit Corp's revenue in 2023?
In the 202304 filing period, Sy Syms Foundation A New Jersey Non Profit Corp reported total revenue of $52,846, total expenses of $3,454,317, and net assets of $31,638,329.
Is Sy Syms Foundation A New Jersey Non Profit Corp's revenue growing or declining?
Sy Syms Foundation A New Jersey Non Profit Corp's revenue is declining. Revenue went from $5,071,944 (202204) to $52,846 (202304), a -99.0% change. Based on 9 filings on record.
What is Sy Syms Foundation A New Jersey Non Profit Corp's most recent 990 filing?
The most recent IRS Form 990 filing for Sy Syms Foundation A New Jersey Non Profit Corp covers tax period 202304. It shows revenue of $52,846, expenses of $3,454,317, total assets of $31,638,329, and liabilities of $2,100.
How much does Sy Syms Foundation A New Jersey Non Profit Corp spend on programs vs administration?
Based on IRS 990 analysis, Sy Syms Foundation A New Jersey Non Profit Corp allocates approximately 10% of expenses to program services, 80% to administrative costs, and 10% to fundraising. Overhead costs appear high relative to program spending.
Is Sy Syms Foundation A New Jersey Non Profit Corp a trustworthy charity?
Based on AI analysis of IRS 990 data, Sy Syms Foundation A New Jersey Non Profit Corp shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Sy Syms Foundation A New Jersey Non Profit Corp?
The following concerns were identified: Significant drop in revenue from $5,071,944 in 2022 to $52,846 in 2023 without a corresponding decrease in expenses, raising sustainability concerns.. High administrative expenses (x) relative to revenue (r) in recent years, for example, $3,454,317 in expenses against $52,846 in revenue in 2023.. Lack of reported compensation for key personnel ('c0%') could obscure how leadership is compensated or indicate a reliance on external support.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Sy Syms Foundation A New Jersey Non Profit Corp's strengths?
Positive indicators for Sy Syms Foundation A New Jersey Non Profit Corp include: Consistent asset base, with assets (a) remaining above $29 million, providing a strong financial cushion.. Very low reported liabilities ('l' at $2,100), indicating a healthy balance sheet with minimal debt.. Long operational history with consistent filings, suggesting organizational stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Sy Syms Foundation A New Jersey Non Profit Corp compensate executives?
Executive compensation is not reported in the provided filings, with 'c0%' consistently listed, which could indicate a volunteer-led board or that compensation is handled through other entities not detailed in these specific filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the drastic drop in revenue from $5,071,944 in 2022 to $52,846 in 2023, how is the foundation sustaining its operations and maintaining its asset base?
The foundation appears to be drawing down on its substantial asset base to cover expenses, as evidenced by expenses of $3,454,317 in 2023 far exceeding the reported revenue of $52,846, while total assets only slightly decreased from $31,638,329 to $29,540,606.
What is the nature of the 'expenses' (x) reported, which consistently exceed revenue in recent years, and how do they align with the foundation's mission?
Without a detailed breakdown of the 'expenses' (x), it's difficult to ascertain their exact nature. However, given the 'c0%' for compensation and the significant amounts (e.g., $3,454,317 in 2023), a large portion likely goes towards administrative overhead or program-related investments not categorized as direct program spending in these summary figures.
Filing History
IRS 990 filing history for Sy Syms Foundation A New Jersey Non Profit Corp showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2023), Sy Syms Foundation A New Jersey Non Profit Corp's revenue has declined by 99.6%, moving from $13.3M to $53K. Total assets decreased by 15.3% over the same period, from $37.4M to $31.6M. Total functional expenses rose by 39.6%, from $2.5M to $3.5M. In its most recent filing year (2023), Sy Syms Foundation A New Jersey Non Profit Corp reported a deficit of $3.4M, with expenses exceeding revenue. The organization holds $2K in liabilities against $31.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $31.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $53K | $3.5M | $31.6M | $2K | — | View 990 |
| 2022 | $5.1M | $3.8M | $35.0M | $2K | — | View 990 |
| 2021 | $2.6M | $3.5M | $33.7M | $2K | — | View 990 |
| 2020 | $1.7M | $2.7M | $34.7M | $2K | — | View 990 |
| 2019 | $2.0M | $3.1M | $35.8M | $2K | — | View 990 |
| 2015 | $3.3M | $2.7M | $41.7M | $0 | — | View 990 |
| 2014 | $3.5M | $2.2M | $41.1M | $0 | — | View 990 |
| 2013 | $2.3M | $1.9M | $37.8M | $0 | — | View 990 |
| 2012 | $13.3M | $2.5M | $37.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $53K, expenses of $3.5M, and assets of $31.6M (revenue -99.0% year-over-year).
- 2022: Revenue of $5.1M, expenses of $3.8M, and assets of $35.0M (revenue +96.1% year-over-year).
- 2021: Revenue of $2.6M, expenses of $3.5M, and assets of $33.7M (revenue +49.6% year-over-year).
- 2020: Revenue of $1.7M, expenses of $2.7M, and assets of $34.7M (revenue -12.8% year-over-year).
- 2019: Revenue of $2.0M, expenses of $3.1M, and assets of $35.8M (revenue -39.4% year-over-year).
- 2015: Revenue of $3.3M, expenses of $2.7M, and assets of $41.7M (revenue -5.3% year-over-year).
- 2014: Revenue of $3.5M, expenses of $2.2M, and assets of $41.1M (revenue +48.1% year-over-year).
- 2013: Revenue of $2.3M, expenses of $1.9M, and assets of $37.8M (revenue -82.5% year-over-year).
- 2012: Revenue of $13.3M, expenses of $2.5M, and assets of $37.4M.
Data Sources and Methodology
This transparency report for Sy Syms Foundation A New Jersey Non Profit Corp 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.