New York Foundling Charitable Corporation

Nonprofit profile at a glance

EIN
133318964
IRS 990 coverage
2016–2018
Forms available
Form 990 2018
Location
New York, NY, USA
Phone
2128864060
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$3,656,772
Expenses
$5,991,713
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • WILLIAM BACCAGLINI (ASSISTANT TREASURER): $624,187 total reported compensation
  • MICHAEL KURTZ (CFO): $285,176 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

New York foundling charitable corporation is a not-for-profit provider of housing and other facilities to related voluntary agencies sponsored by the sisters of charity, New York foundling, the New York foundling hospital center for pediatric, medical, and rehabilitative care, inc. (d/b/a elizabeth seton pediatric center) and the john coleman school for their use in the furtherance of their charitable purposes.

What it reported doing in 2018

Provides space for facilities located at 590 avenue of the americas, New York, ny, floors 7 - 14 and 170 brown place, bronx, ny, that are leased to the New York foundling, a not-for-profit multifunctional social service agency.

Operating model

Revenue model
Investment-supported. 64% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 68
  • Accountability: 37
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -63.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: -10.6% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -39.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -75.6% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.4% of spending went to programs
  • Governance: 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $5.8M in reported program spending
  • Leadership: top reported pay $624K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 3 filing years from 2016 to 2018
  • Contacts: How to reach this organization
  • Money network: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.