New York Law Institute

Nonprofit profile at a glance

EIN
135600417
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2127328720
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Libraries

Reported finances

Revenue
$2,086,948
Expenses
$2,137,049
Assets
$11,060,948
Liabilities
$1,318,448

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

Leadership & pay

12 people listed

Executive titles in this filing

  • LUCY CURCI-GONZALEZ (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LUCY CURCI-GONZALEZ (EXECUTIVE DIRECTOR): $217,167 total reported compensation
  • BROOKE R RAYMOND (SENIOR RESEARCH ANALYST): $163,863 total reported compensation
  • ELIZABETH VALENTI (DIR. OF INNOVATION & ENGAGEMENT): $153,393 total reported compensation

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

Overview

Mission

The library exists for literary purposes, the cultivation of legal science, promoting the advancement of jurisprudence and providing a seminary of learning in law and the formation of a law library; cooperating with other charitable organizations whether local, national, or international; and conducting any other activities that may be necessary, useful, or desirable for the furtherance or accomplishment of the foregoing purposes, provided that these activities would not endanger the corporation's not-for-profit or tax-exempt status.

What it reported doing in 2024

The organization provides library services which includes research, circulation of materials, document delivery and access to electronic resources.

Operating model

Revenue model
Earned-program. 92% 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. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 66
  • Accountability: 100
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.4%; rating input score 89
  • Program expense ratio: 89.1%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.4%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 5.18; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 36.9%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 89.4% of revenue deployed · 89.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $217K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.