Karen Horney Clinic Inc

Nonprofit profile at a glance

EIN
135638826
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128384333
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Developmentally Disabled Centers

Official website

Reported finances

Revenue
$2,750,951
Expenses
$2,295,787
Assets
$9,649,952
Liabilities
$114,733

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • ROBERT BAGDADI (PRESIDENT)
  • ROBERT FRIEDMAN (VICE PRESIDENT)
  • CRAIG FULLER (ASSISTANT EXECUTIVE DIRECTOR/THERAPIST)

Highest reported compensation

  • HENRY A PAUL (EXECUTIVE DIR/PSYCHIATRIST): $459,245 total reported compensation
  • CRAIG FULLER (ASSISTANT EXECUTIVE DIRECTOR/THERAPIST): $141,753 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide ambulatory diagnostic and mental health treatment services to adults, adolescents and children who have a diagnosis of mental illness.

What it reported doing in 2024

The organization provides ambulatory diagnostic and mental health treatment services to adults, adolescents and children who have a diagnosis of a mental illness. In the year ended june 30, 2025, the clinic provided over 21,000 patient care sessions. The goals of the clinic include the development of a plan of care designated to not only minimize symptoms and adverse effects of illness but also to maximize wellness and promote recovery towards the achievements of life goals, such as but not limited to, education and employment.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.4%; rating input score 68
  • Program expense ratio: 85.3%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.5%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 4.2; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 26.2%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 68.4% of revenue deployed · 85.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $459K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.