New York Memory Center Inc

Nonprofit profile at a glance

EIN
112713960
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7184997701
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$779,974
Expenses
$589,745
Assets
$765,115
Liabilities
$254,284

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

Leadership & pay

9 people listed

People named in this filing

  • SHARON GOLDZWEIG (SECRETARY)
  • DR BARBARA PARIS (BOARD MEMBER)
  • JOSEPH GIAMBOI ESQ (BOARDCHAIR&P)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Free standing non profit, community-based agency providing services to adults with cognitive, physical, and emotional limitations to help them enjoy life beyond diagnosis of memory loss.

What it reported doing in 2024

Providing services to adults with cognitive, physical, and emotional limitations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 65
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.7%; rating input score 44
  • Program expense ratio: 58.5%; rating input score 58
  • Fundraising efficiency: $132.4 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.4%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -10.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 43.7% of revenue deployed · 58.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $345K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.