The Fortune Society Inc

The Fortune Society Inc. shows significant revenue and asset growth over the past decade, with consistent positive net assets.

EIN: 132645436 · Long Island City, NY · NTEE: F22Z · Updated: 2026-03-28

$76.3MRevenue

$66.1MAssets

85/100Mission Score (Excellent)

F22Z

About The Fortune Society Inc

The Fortune Society Inc (EIN: 132645436) is a nonprofit organization based in Long Island City, NY, classified under NTEE code F22Z. The organization reported total revenue of $76.3M and total assets of $66.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Fortune Society Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Fortune Society Inc. demonstrates strong financial growth and a generally healthy financial position. Over the past decade, the organization has seen its revenue increase significantly, from $11.8 million in 2014 to $76.3 million in its latest filing, indicating robust fundraising and program expansion. The organization consistently reports positive net assets, growing from $5.0 million in 2014 to $66.1 million currently, which suggests sound financial management and the ability to build reserves. While the provided data does not detail the exact breakdown of program, administrative, and fundraising expenses, the consistent growth in assets alongside increasing revenue and expenses suggests a well-managed operation capable of scaling its services.

However, a notable point is the reported 0% officer compensation across all filings. While this could indicate that executive compensation is reported under other expense categories or that the organization relies heavily on volunteer leadership at the highest levels, it warrants further investigation for complete transparency. If executive compensation is indeed zero, it's an unusual but potentially positive indicator of resource allocation directly to mission. If it's simply categorized differently, the lack of explicit reporting under 'Officer Comp' could be a minor transparency concern.

Overall, The Fortune Society appears to be a financially stable and growing organization. Its substantial asset base and consistent revenue growth position it well to continue its mission. The primary area for enhanced transparency would be a clearer disclosure or explanation regarding executive compensation, given the 0% reported figure.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates The Fortune Society Inc 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: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, The Fortune Society Inc 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 IRS 990 filings consistently report 0% for officer compensation, which is highly unusual for an organization of this size with annual revenues exceeding $76 million. This either indicates that executive compensation is not being reported under this specific line item or that the organization operates with entirely unpaid officers, which would be a significant strength in terms of resource allocation.

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 The Fortune Society Inc's IRS 990 filings:

Consistent 0% reported officer compensation, which is unusual for an organization of this size and warrants further clarification.

Strengths

The following positive indicators were identified for The Fortune Society Inc:

Significant and consistent revenue growth over the past decade, from $11.8M in 2014 to $76.3M currently.
Strong asset growth, increasing from $10.8M in 2014 to $66.1M, indicating robust financial health.
Consistent positive net assets across all reported periods, demonstrating sound financial management.
Expenses generally align with revenue, suggesting efficient use of funds to support growth and operations.

Frequently Asked Questions about The Fortune Society Inc

Is The Fortune Society Inc. financially stable?

Yes, the organization appears financially stable, with assets growing from $10.8 million in 2014 to $66.1 million currently, and consistent positive net assets across all reported periods.

How has The Fortune Society Inc.'s revenue changed over time?

The Fortune Society Inc. has experienced substantial revenue growth, increasing from $11.8 million in 2014 to $76.3 million in its latest filing, demonstrating significant expansion.

What is the explanation for 0% officer compensation?

The filings consistently show 0% for officer compensation. This requires further investigation to determine if compensation is reported elsewhere or if officers are indeed unpaid, which would be a notable characteristic for an organization of this scale.

Filing History

IRS 990 filing history for The Fortune Society Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), The Fortune Society Inc's revenue has grown by 259.6%, moving from $18.2M to $65.3M. Total assets increased by 687.2% over the same period, from $8.0M to $63.2M. Total functional expenses rose by 248.5%, from $18.0M to $62.7M. In its most recent filing year (2023), The Fortune Society Inc reported a surplus of $2.5M, with revenue exceeding expenses. The organization holds $36.9M in liabilities against $63.2M in assets (debt-to-asset ratio: 58.4%), resulting in net assets of $26.3M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$65.3M	$62.7M	$63.2M	$36.9M	—	—
2022	$59.2M	$44.8M	$33.8M	$10.0M	—	View 990
2021	$41.3M	$39.0M	$19.7M	$10.4M	—	View 990
2020	$39.8M	$39.0M	$16.6M	$9.5M	—	View 990
2019	$34.6M	$34.4M	$15.4M	$9.2M	—	View 990
2018	$34.6M	$34.3M	$14.9M	$8.8M	—	View 990
2017	$31.2M	$30.5M	$12.3M	$6.4M	—	View 990
2016	$27.0M	$26.9M	$10.0M	$4.8M	—	View 990
2015	$24.6M	$24.5M	$10.8M	$5.7M	—	View 990
2014	$11.8M	$12.1M	$10.8M	$5.8M	—	View 990
2013	$22.3M	$21.7M	$11.4M	$6.1M	—	View 990
2012	$19.0M	$18.9M	$9.2M	$4.5M	—	View 990
2011	$18.2M	$18.0M	$8.0M	$3.4M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $65.3M, expenses of $62.7M, and assets of $63.2M (revenue +10.2% year-over-year).
2022: Revenue of $59.2M, expenses of $44.8M, and assets of $33.8M (revenue +43.5% year-over-year).
2021: Revenue of $41.3M, expenses of $39.0M, and assets of $19.7M (revenue +3.6% year-over-year).
2020: Revenue of $39.8M, expenses of $39.0M, and assets of $16.6M (revenue +15.2% year-over-year).
2019: Revenue of $34.6M, expenses of $34.4M, and assets of $15.4M (revenue +-0.0% year-over-year).
2018: Revenue of $34.6M, expenses of $34.3M, and assets of $14.9M (revenue +10.8% year-over-year).
2017: Revenue of $31.2M, expenses of $30.5M, and assets of $12.3M (revenue +15.7% year-over-year).
2016: Revenue of $27.0M, expenses of $26.9M, and assets of $10.0M (revenue +9.6% year-over-year).
2015: Revenue of $24.6M, expenses of $24.5M, and assets of $10.8M (revenue +108.7% year-over-year).
2014: Revenue of $11.8M, expenses of $12.1M, and assets of $10.8M (revenue -47.2% year-over-year).
2013: Revenue of $22.3M, expenses of $21.7M, and assets of $11.4M (revenue +17.4% year-over-year).
2012: Revenue of $19.0M, expenses of $18.9M, and assets of $9.2M (revenue +4.8% year-over-year).
2011: Revenue of $18.2M, expenses of $18.0M, and assets of $8.0M.

Data Sources and Methodology

This transparency report for The Fortune Society 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.