New York Communities Organizing Fund Inc

Overview

Mission

Community-based nonprofit organization that seeks to empower low- and moderate-income new yorkers to help themselves. Through public education, advocacy, research, and direct services, nycofi works to improve the economic security and wellbeing of lowincome and people of color communities throughout New York state.

What it reported doing in 2024

Worker's rights - america has become a nation of the overworked and the underpaid, and in no city is that truer than New York city especially for our immigrants and communities of color. From being at the forefront of the paid sick days fight to igniting the fight for $15 campaign to raise the state minimum wage, workplace justice sits at the core of our work. We stand with all lowwage workers and their right to a living wage and to unionize without retaliation.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

Nonprofit profile at a glance

EIN
272332649
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Brooklyn, NY, USA
Phone
3477564949
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 89
  • Accountability: 88
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: $713.75 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98%; rating input score 98; 34th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.7%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.87; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 13.1% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 13.7% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 14.3% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 96.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

11 people listed

Source: IRS Form 990. Selected filing: FY2024.