The Hyde Collection Trust
The Hyde Collection Trust faces recurring operational deficits and a significant decline in assets over recent years.
EIN: 141401101 · Glens Falls, NY · NTEE: A110 · Updated: 2026-03-28
Is The Hyde Collection Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Hyde Collection Trust directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Hyde Collection Trust
The Hyde Collection Trust (EIN: 141401101) is a nonprofit organization based in Glens Falls, NY, classified under NTEE code A110. The organization reported total revenue of $3.5M and total assets of $14.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Hyde Collection Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Hyde Collection Trust is a mid-size nonprofit that has been operating for 71 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $2.6M |
| Surplus / Deficit | $-271,216 |
| Total Assets | $13.8M |
| Total Liabilities | $92K |
| Net Assets | $13.8M |
| Operating Margin | -11.8% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 64.9 months |
Financial Health Grade: B
In 2023, The Hyde Collection Trust reported a deficit of $271K with expenses exceeding revenue, holds 64.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Hyde Collection Trust's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +56.3% | +22.0% | +3.7% |
| 2022 | -21.5% | +15.4% | -16.6% |
| 2021 | +16.6% | +2.2% | -35.2% |
| 2020 | +39.6% | -13.0% | +2.5% |
| 2019 | -18.8% | -4.5% | +1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1955 |
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 The Hyde Collection Trust 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, The Hyde Collection Trust 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $271K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers either serve on a volunteer basis or their compensation is minimal and reported under other expense categories, which is a positive sign for lean leadership costs relative to the organization's size.
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 Hyde Collection Trust's IRS 990 filings:
- Recurring operational deficits: Expenses frequently exceed revenue, as seen in 202312 ($2,562,112 expenses vs. $2,290,896 revenue) and 202212 ($2,099,728 expenses vs. $1,465,475 revenue).
- Significant decline in assets: Total assets have decreased from a peak of $25,817,909 in 201712 to $13,847,972 in 202312, a reduction of over $12 million.
- Inconsistent revenue generation: Revenue has fluctuated significantly, from a high of $3,897,601 in 201512 to $1,465,475 in 202212, making financial planning challenging.
Strengths
The following positive indicators were identified for The Hyde Collection Trust:
- Consistent IRS 990 filing history: 13 filings demonstrate strong compliance and transparency.
- 0% reported officer compensation: Indicates lean leadership costs and a potential volunteer-driven executive structure.
- Substantial asset base: Despite declines, the organization still holds $13,847,972 in assets (202312), providing a foundation for future operations.
Frequently Asked Questions about The Hyde Collection Trust
Is The Hyde Collection Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, The Hyde Collection Trust (EIN: 141401101) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does The Hyde Collection Trust spend its money?
The Hyde Collection Trust directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Hyde Collection Trust tax-deductible?
The Hyde Collection Trust is registered as a tax-exempt nonprofit (EIN: 141401101). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is The Hyde Collection Trust a good charity?
The Hyde Collection Trust demonstrates a commitment to its mission as an art museum and has a strong history of IRS 990 filings. However, recurring operational deficits and a significant decline in assets from over $25 million to under $14 million over the past decade raise concerns about its long-term financial sustainability. While officer compensation is reported as 0%, further analysis of expense categories is needed to fully assess spending efficiency.
Why have the assets decreased so significantly?
The organization's assets have decreased from a high of $25,817,909 in 201712 to $13,847,972 in 202312. This substantial reduction of over $12 million warrants further investigation, as it could be due to investment losses, significant capital expenditures, or the use of endowment funds to cover operational shortfalls.
What is the organization's strategy for addressing recurring operational deficits?
The Hyde Collection Trust has consistently reported expenses exceeding revenue in several recent periods, such as 202312 ($2,562,112 expenses vs. $2,290,896 revenue) and 202212 ($2,099,728 expenses vs. $1,465,475 revenue). The filings do not explicitly detail the strategy for addressing these deficits, which is crucial for long-term financial health.
How does the organization fund its operations given the deficits?
Given the recurring operational deficits, it appears the organization may be drawing upon its assets or reserves to cover expenses. The significant decline in total assets over time supports this possibility, indicating a potential reliance on past accumulated wealth rather than consistent operational profitability.
Filing History
IRS 990 filing history for The Hyde Collection Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Hyde Collection Trust's revenue has grown by 48.7%, moving from $1.5M to $2.3M. Total assets decreased by 38.9% over the same period, from $22.7M to $13.8M. Total functional expenses rose by 13.6%, from $2.3M to $2.6M. In its most recent filing year (2023), The Hyde Collection Trust reported a deficit of $271K, with expenses exceeding revenue. The organization holds $92K in liabilities against $13.8M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $13.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.6M | $13.8M | $92K | — | — |
| 2022 | $1.5M | $2.1M | $13.3M | $407K | — | View 990 |
| 2021 | $1.9M | $1.8M | $16.0M | $427K | — | View 990 |
| 2020 | $1.6M | $1.8M | $24.7M | $647K | — | View 990 |
| 2019 | $1.1M | $2.0M | $24.1M | $638K | — | View 990 |
| 2018 | $1.4M | $2.1M | $23.8M | $848K | — | View 990 |
| 2017 | $1.2M | $2.0M | $25.8M | $1.0M | — | View 990 |
| 2016 | $1.9M | $2.0M | $25.5M | $1.1M | — | View 990 |
| 2015 | $3.9M | $1.8M | $25.2M | $1.1M | — | View 990 |
| 2014 | $1.4M | $2.1M | $24.2M | $1.3M | — | View 990 |
| 2013 | $3.0M | $2.3M | $24.8M | $1.3M | — | View 990 |
| 2012 | $1.5M | $2.0M | $23.3M | $1.6M | — | View 990 |
| 2011 | $1.5M | $2.3M | $22.7M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.6M, and assets of $13.8M (revenue +56.3% year-over-year).
- 2022: Revenue of $1.5M, expenses of $2.1M, and assets of $13.3M (revenue -21.5% year-over-year).
- 2021: Revenue of $1.9M, expenses of $1.8M, and assets of $16.0M (revenue +16.6% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.8M, and assets of $24.7M (revenue +39.6% year-over-year).
- 2019: Revenue of $1.1M, expenses of $2.0M, and assets of $24.1M (revenue -18.8% year-over-year).
- 2018: Revenue of $1.4M, expenses of $2.1M, and assets of $23.8M (revenue +14.3% year-over-year).
- 2017: Revenue of $1.2M, expenses of $2.0M, and assets of $25.8M (revenue -34.1% year-over-year).
- 2016: Revenue of $1.9M, expenses of $2.0M, and assets of $25.5M (revenue -51.9% year-over-year).
- 2015: Revenue of $3.9M, expenses of $1.8M, and assets of $25.2M (revenue +176.3% year-over-year).
- 2014: Revenue of $1.4M, expenses of $2.1M, and assets of $24.2M (revenue -53.2% year-over-year).
- 2013: Revenue of $3.0M, expenses of $2.3M, and assets of $24.8M (revenue +103.3% year-over-year).
- 2012: Revenue of $1.5M, expenses of $2.0M, and assets of $23.3M (revenue -3.9% year-over-year).
- 2011: Revenue of $1.5M, expenses of $2.3M, and assets of $22.7M.
Data Sources and Methodology
This transparency report for The Hyde Collection Trust 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.