NORCORP INC

EIN: 133366748 501(c)(3)

WESTBURY, NY

Total Revenue
$112,986
Total Expenses
$202,800
Total Assets
$3,314,800
Net Assets
$2,002,361
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
NY
Principal Officer
MICHAEL J DOWLING
Phone
5163216058
Tax Period
2023-01-01 to 2023-12-31

NORCORP INC, founded in 1984, is a small nonprofit that reported $113K in total revenue in fiscal year 2023. Expenses of $203K exceeded revenue, resulting in a 79% operating deficit.

Mission

NORCORP'S PRIMARY PROGRAM SERVICE ACTIVITY IS TO RECEIVE AND ADMINISTER FUNDS (RENTAL INCOME), AND TO HOLD REAL OR PERSONAL PROPERTY ON BEHALF OF NORTHERN WESTCHESTER HOSPITAL ASSOCIATION.

Program Service Accomplishments

Program 1
Expenses: $202,800 Revenue: $112,986

NORCORP'S PRIMARY PROGRAM SERVICE ACTIVITY IS TO RECEIVE AND ADMINISTER FUNDS (RENTAL INCOME), AND TO HOLD REAL OR PERSONAL PROPERTY ON BEHALF OF NORTHERN WESTCHESTER HOSPITAL ASSOCIATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $112,986
Investment Income $0
Other Revenue $0
TOTAL REVENUE $112,986

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $202,800
Other Expenses $202,800
TOTAL EXPENSES $202,800

Year-over-Year Comparison

2023 2022 Change
Revenue $112,986 $116,230 0.0%
Expenses $202,800 $202,800 N/A
Net Income $-89,814 $-86,570 +0.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
2
Independent Members
1
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$1,473,534
Total Directors
2
$1,473,534
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOEL SELIGMAN VP, Regional Initiatives 0.0
Officer Director
$0 $51,924 $1,473,534
Michael Schwartz Chairman/Director 0.0
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $112,986 $202,800 $3,314,800 $-89,814
2022 $116,230 $202,800 $3,517,600 $-86,570
2021 $125,964 $202,800 $3,736,150 $-76,836
2020 $126,716 $208,148 $3,938,950 $-81,432
2019 $210,846 $255,020 $4,141,750 $-44,174
2018 $218,836 $384,442 $4,658,399 $-165,606
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