Ny Creates

Legal name: New York Center for Research Economic Advancement Technology Engineeringand

Nonprofit profile at a glance

EIN
844046818
IRS 990 coverage
2020–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2019
Location
Albany, NY, USA
Phone
5189567322
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Engineering and Technology

Official website

Reported finances

Revenue
$144,806,088
Expenses
$240,710,262
Assets
$185,329,930
Liabilities
$289,801,500

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

Leadership & pay

20 people listed

Executive titles in this filing

  • DAVID ANDERSON (PRESIDENT)

Highest reported compensation

  • PATRICIA ARCIERO-CRAIG (PAST CAO,ACT GEN COUN): $479,824 total reported compensation
  • DAVID ANDERSON (PRESIDENT): $478,288 total reported compensation
  • CHRISTOPHER BORST (VP OF TECHNOLOGY & INFRASTRUCTURE): $409,422 total reported compensation

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

Overview

Mission

NY CREATES advances global high-tech innovation by operating world-class semiconductor R&D facilities, fostering industry-academia-government partnerships, and developing the workforce of tomorrow.

What it reported doing in 2024

Ny creates received a payment in the amount of $10,800,000 from fuller road management corporation along with a grant from empire state development corporation in the amount of $131,859,864. The grant funds were then paid to its related organization to build a facility in connection with ny creates' mission of supporting innovative research and development in the state.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
Distribution model
Affiliate network. The nonprofit sent 97% of its reported program spending through affiliated organizations.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 80
  • Accountability: 100
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -66.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 1.56; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 82% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 73.3% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 85.8% per year; rating input score 100; 100th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $240.7M in reported program spending
  • Leadership: top reported pay $480K · 20 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $184K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 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.

Key Signals

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

  • High — Sustainability: Operating margin scored 1/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.