The Upstate Foundation Inc
The Upstate Foundation Inc shows strong asset growth and consistent revenue generation with no reported officer compensation.
EIN: 161068101 · Syracuse, NY · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $37.5M |
| Total Expenses | $11.8M |
| Program Spending | 80% |
| Net Assets | $171.5M |
| Transparency Score | 85/100 |
Is The Upstate Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Upstate Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Upstate Foundation Inc
The Upstate Foundation Inc (EIN: 161068101) is a nonprofit organization based in Syracuse, NY, classified under NTEE code P20. The organization reported total revenue of $37.5M and total assets of $299.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Upstate Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Upstate Foundation Inc is a large nonprofit that has been operating for 50 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $27.3M |
| Total Expenses | $11.8M |
| Surplus / Deficit | +$15.6M |
| Total Assets | $261.7M |
| Total Liabilities | $90.1M |
| Net Assets | $171.5M |
| Operating Margin | 57.0% |
| Debt-to-Asset Ratio | 34.4% |
| Months of Reserves | 267.1 months |
Financial Health Grade: A
In 2023, The Upstate Foundation Inc reported a surplus of $15.6M with revenue exceeding expenses, holds 267.1 months of operating reserves (strong position), has a debt-to-asset ratio of 34.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Upstate Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +65.9% | +9.5% | +17.4% |
| 2022 | -50.2% | -7.1% | -14.2% |
| 2021 | +9.8% | +23.6% | +12.7% |
| 2020 | +73.2% | -6.0% | +12.9% |
| 2019 | +27.9% | +18.8% | +14.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1976 |
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 Upstate Foundation 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: 80%
- fundraising: 10%
According to IRS 990 filings, The Upstate Foundation Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 surplus of $15.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 34.4%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is highly unusual for an organization of this size and asset base, suggesting that executive salaries are either covered by an affiliated entity or not reported under this specific line item, which warrants further investigation 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 The Upstate Foundation Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is atypical for an organization of this scale and may obscure true executive costs.
Strengths
The following positive indicators were identified for The Upstate Foundation Inc:
- Significant and consistent asset growth, from $89.6M in 2014 to nearly $300M currently, indicating strong financial health.
- Revenue consistently exceeds expenses, allowing for substantial reinvestment and asset accumulation.
- Strong financial reserves with assets significantly outweighing liabilities, demonstrating stability.
- Latest revenue of $37,492,443 shows robust fundraising or investment performance.
Frequently Asked Questions about The Upstate Foundation Inc
Is The Upstate Foundation Inc a legitimate charity?
The Upstate Foundation Inc (EIN: 161068101) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $37.5M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does The Upstate Foundation Inc spend its money?
The Upstate Foundation Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to The Upstate Foundation Inc tax-deductible?
The Upstate Foundation Inc is registered as a tax-exempt nonprofit (EIN: 161068101). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Upstate Foundation Inc's spending goes to programs?
The Upstate Foundation Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Upstate Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Upstate Foundation Inc is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Upstate Foundation Inc located?
The Upstate Foundation Inc is headquartered in Syracuse, New York and files with the IRS under EIN 161068101. It is classified under NTEE code P20.
How many years of IRS 990 filings does The Upstate Foundation Inc have?
The Upstate Foundation 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 $37.5M in total revenue.
How does The Upstate Foundation Inc manage to report 0% officer compensation across all filings?
This is highly unusual for an organization of its size. It suggests that executive compensation might be paid by an affiliated entity (e.g., the university or hospital it supports) or is not categorized under 'officer compensation' in the IRS 990, which could impact the full picture of administrative costs.
What is the primary purpose of The Upstate Foundation Inc given its NTEE code P20?
NTEE code P20 typically refers to 'Medical Research Institutes.' This suggests the foundation primarily supports medical research, education, or healthcare initiatives, likely for SUNY Upstate Medical University.
What is the trend in the organization's net assets over time?
The organization shows a strong upward trend in net assets, growing from $89,594,400 in 2014 to $299,812,098 in the latest period, indicating excellent financial stewardship and growth.
Filing History
IRS 990 filing history for The Upstate Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Upstate Foundation Inc's revenue has grown by 225.6%, moving from $8.4M to $27.3M. Total assets increased by 314% over the same period, from $63.2M to $261.7M. Total functional expenses rose by 122.6%, from $5.3M to $11.8M. In its most recent filing year (2023), The Upstate Foundation Inc reported a surplus of $15.6M, with revenue exceeding expenses. The organization holds $90.1M in liabilities against $261.7M in assets (debt-to-asset ratio: 34.4%), resulting in net assets of $171.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $27.3M | $11.8M | $261.7M | $90.1M | — | — |
| 2022 | $16.5M | $10.7M | $223.0M | $75.4M | — | View 990 |
| 2021 | $33.1M | $11.6M | $259.8M | $87.8M | — | View 990 |
| 2020 | $30.1M | $9.3M | $230.5M | $80.1M | — | View 990 |
| 2019 | $17.4M | $9.9M | $204.2M | $73.8M | — | View 990 |
| 2018 | $13.6M | $8.4M | $177.9M | $71.0M | — | View 990 |
| 2017 | $21.5M | $11.7M | $180.5M | $65.9M | — | View 990 |
| 2016 | $9.9M | $9.3M | $151.0M | $56.1M | — | View 990 |
| 2015 | $16.0M | $9.2M | $139.7M | $49.6M | — | View 990 |
| 2014 | $9.1M | $9.6M | $89.6M | $405K | — | View 990 |
| 2013 | $11.8M | $8.5M | $87.8M | $354K | — | View 990 |
| 2012 | $10.3M | $6.2M | $74.9M | $313K | — | View 990 |
| 2011 | $8.4M | $5.3M | $63.2M | $328K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $27.3M, expenses of $11.8M, and assets of $261.7M (revenue +65.9% year-over-year).
- 2022: Revenue of $16.5M, expenses of $10.7M, and assets of $223.0M (revenue -50.2% year-over-year).
- 2021: Revenue of $33.1M, expenses of $11.6M, and assets of $259.8M (revenue +9.8% year-over-year).
- 2020: Revenue of $30.1M, expenses of $9.3M, and assets of $230.5M (revenue +73.2% year-over-year).
- 2019: Revenue of $17.4M, expenses of $9.9M, and assets of $204.2M (revenue +27.9% year-over-year).
- 2018: Revenue of $13.6M, expenses of $8.4M, and assets of $177.9M (revenue -36.7% year-over-year).
- 2017: Revenue of $21.5M, expenses of $11.7M, and assets of $180.5M (revenue +116.4% year-over-year).
- 2016: Revenue of $9.9M, expenses of $9.3M, and assets of $151.0M (revenue -37.8% year-over-year).
- 2015: Revenue of $16.0M, expenses of $9.2M, and assets of $139.7M (revenue +75.0% year-over-year).
- 2014: Revenue of $9.1M, expenses of $9.6M, and assets of $89.6M (revenue -23.0% year-over-year).
- 2013: Revenue of $11.8M, expenses of $8.5M, and assets of $87.8M (revenue +15.2% year-over-year).
- 2012: Revenue of $10.3M, expenses of $6.2M, and assets of $74.9M (revenue +22.6% year-over-year).
- 2011: Revenue of $8.4M, expenses of $5.3M, and assets of $63.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Upstate Foundation Inc:
Data Sources and Methodology
This transparency report for The Upstate Foundation 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.