Troy Savings Bank Music Hall Corporation
Troy Savings Bank Music Hall: Strong Financials, High Program Spending
EIN: 222270512 · Troy, NY · Updated: 2026-04-04
Is Troy Savings Bank Music Hall Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Troy Savings Bank Music Hall Corporation directs 82% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Troy Savings Bank Music Hall Corporation
Troy Savings Bank Music Hall Corporation (EIN: 222270512) is a nonprofit organization based in Troy, NY. The organization reported total revenue of $5.6M and total assets of $5.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Troy Savings Bank Music Hall 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 Troy Savings Bank Music Hall Corporation 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: 82%
- fundraising: 8%
According to IRS 990 filings, Troy Savings Bank Music Hall Corporation allocates its expenses as follows: admin: 10%, programs: 82%, fundraising: 8%. With 82% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation appears reasonable, with the highest paid individual receiving $109,000 in 2022, which is appropriate for an organization of this revenue size ($2,615,236 in 2022).
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.
Strengths
The following positive indicators were identified for Troy Savings Bank Music Hall Corporation:
- Consistently high program spending, averaging over 80% of total expenses.
- Strong asset growth, from $302,828 in 2017 to $5,109,334 in 2023, indicating effective financial management and investment.
- Healthy revenue streams, with significant increases in 2022 and 2023.
- Low liabilities relative to assets, suggesting good financial stability.
Frequently Asked Questions about Troy Savings Bank Music Hall Corporation
Is Troy Savings Bank Music Hall Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Troy Savings Bank Music Hall Corporation (EIN: 222270512) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Troy Savings Bank Music Hall Corporation spend its money?
Troy Savings Bank Music Hall Corporation directs 82% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Troy Savings Bank Music Hall Corporation tax-deductible?
Troy Savings Bank Music Hall Corporation is registered as a tax-exempt nonprofit (EIN: 222270512). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Troy Savings Bank Music Hall Corporation do?
Troy Savings Bank Music Hall Corporation is a nonprofit organization in the Unknown sector, located in Troy, New York. It is classified under NTEE code Unknown.
How much revenue does Troy Savings Bank Music Hall Corporation have?
Troy Savings Bank Music Hall Corporation reported total revenue of $5,598,254. Based on 13 IRS 990 filings on record.
What are Troy Savings Bank Music Hall Corporation's total assets?
Troy Savings Bank Music Hall Corporation holds total assets of $5,109,334 as reported in IRS 990 filings.
Where is Troy Savings Bank Music Hall Corporation located?
Troy Savings Bank Music Hall Corporation is based in Troy, New York.
What is Troy Savings Bank Music Hall Corporation's EIN?
Troy Savings Bank Music Hall Corporation's Employer Identification Number (EIN) is 222270512. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Troy Savings Bank Music Hall Corporation?
Troy Savings Bank Music Hall Corporation is classified under NTEE code Unknown (Unknown).
Is Troy Savings Bank Music Hall Corporation a registered 501(c)(3)?
Troy Savings Bank Music Hall Corporation appears in IRS records (EIN: 222270512). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Troy Savings Bank Music Hall Corporation file IRS Form 990?
Yes, Troy Savings Bank Music Hall Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Troy Savings Bank Music Hall Corporation's revenue in 2023?
In the 202306 filing period, Troy Savings Bank Music Hall Corporation reported total revenue of $1,798,005, total expenses of $2,182,741, and net assets of $1,742,209.
Is Troy Savings Bank Music Hall Corporation's revenue growing or declining?
Troy Savings Bank Music Hall Corporation's revenue is declining. Revenue went from $2,615,236 (202206) to $1,798,005 (202306), a -31.2% change. Based on 13 filings on record.
What is Troy Savings Bank Music Hall Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Troy Savings Bank Music Hall Corporation covers tax period 202306. It shows revenue of $1,798,005, expenses of $2,182,741, total assets of $1,742,209, and liabilities of $856,961.
How much does Troy Savings Bank Music Hall Corporation spend on programs vs administration?
Based on IRS 990 analysis, Troy Savings Bank Music Hall Corporation allocates approximately 82% of expenses to program services, 10% to administrative costs, and 8% to fundraising. This indicates strong program focus.
Is Troy Savings Bank Music Hall Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Troy Savings Bank Music Hall Corporation appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Troy Savings Bank Music Hall Corporation's strengths?
Positive indicators for Troy Savings Bank Music Hall Corporation include: Consistently high program spending, averaging over 80% of total expenses.. Strong asset growth, from $302,828 in 2017 to $5,109,334 in 2023, indicating effective financial management and investment.. Healthy revenue streams, with significant increases in 2022 and 2023.. Low liabilities relative to assets, suggesting good financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Troy Savings Bank Music Hall Corporation compensate executives?
Executive compensation appears reasonable, with the highest paid individual receiving $109,000 in 2022, which is appropriate for an organization of this revenue size ($2,615,236 in 2022). Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has the organization managed to achieve such significant asset growth, particularly the jump from $1,742,209 in 2023 to $5,109,334 in 2023, given its revenue figures?
The substantial increase in assets from $1,742,209 in 2023 (from the 202306 filing) to $5,109,334 (current asset data) suggests a significant capital campaign, major donation, or investment gain not fully reflected in the annual revenue figures provided for the fiscal year ending June 2023. Further investigation into specific asset categories would be needed.
Filing History
IRS 990 filing history for Troy Savings Bank Music Hall Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Troy Savings Bank Music Hall Corporation's revenue has grown by 131.8%, moving from $776K to $1.8M. Total assets increased by 457.2% over the same period, from $313K to $1.7M. Total functional expenses rose by 203.9%, from $718K to $2.2M. In its most recent filing year (2023), Troy Savings Bank Music Hall Corporation reported a deficit of $385K, with expenses exceeding revenue. The organization holds $857K in liabilities against $1.7M in assets (debt-to-asset ratio: 49.2%), resulting in net assets of $885K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $2.2M | $1.7M | $857K | — | View 990 |
| 2022 | $2.6M | $2.0M | $2.1M | $818K | — | View 990 |
| 2021 | $1.0M | $752K | $1.6M | $977K | — | View 990 |
| 2020 | $1.6M | $1.6M | $1.2M | $887K | — | View 990 |
| 2019 | $1.9M | $1.7M | $708K | $300K | — | View 990 |
| 2018 | $1.7M | $1.6M | $316K | $163K | — | View 990 |
| 2017 | $1.4M | $1.4M | $303K | $255K | — | View 990 |
| 2016 | $1.2M | $1.3M | $278K | $229K | — | View 990 |
| 2015 | $958K | $946K | $340K | $246K | — | View 990 |
| 2014 | $847K | $829K | $213K | $132K | — | View 990 |
| 2013 | $793K | $810K | $315K | $251K | — | View 990 |
| 2012 | $725K | $857K | $208K | $128K | — | View 990 |
| 2011 | $776K | $718K | $313K | $100K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $2.2M, and assets of $1.7M (revenue -31.2% year-over-year).
- 2022: Revenue of $2.6M, expenses of $2.0M, and assets of $2.1M (revenue +151.1% year-over-year).
- 2021: Revenue of $1.0M, expenses of $752K, and assets of $1.6M (revenue -33.0% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.6M, and assets of $1.2M (revenue -19.2% year-over-year).
- 2019: Revenue of $1.9M, expenses of $1.7M, and assets of $708K (revenue +10.8% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.6M, and assets of $316K (revenue +20.0% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.4M, and assets of $303K (revenue +20.0% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.3M, and assets of $278K (revenue +25.9% year-over-year).
- 2015: Revenue of $958K, expenses of $946K, and assets of $340K (revenue +13.1% year-over-year).
- 2014: Revenue of $847K, expenses of $829K, and assets of $213K (revenue +6.8% year-over-year).
- 2013: Revenue of $793K, expenses of $810K, and assets of $315K (revenue +9.4% year-over-year).
- 2012: Revenue of $725K, expenses of $857K, and assets of $208K (revenue -6.5% year-over-year).
- 2011: Revenue of $776K, expenses of $718K, and assets of $313K.
Data Sources and Methodology
This transparency report for Troy Savings Bank Music Hall 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.