Niagara Tobacco Asset Securitization Corporation (EIN 161594402) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

Karen S Castle

Phone

7164389438

Tax Period

2025-01-01 to 2025-12-31

Niagara Tobacco Asset Securitization Corporation, founded in 2000, is a community nonprofit in the Public & Societal Benefit sector that reported $2.4M in total revenue in fiscal year 2025. Revenue decreased 12% compared to the prior year. Expenses of $3.2M exceeded revenue, resulting in a 30% operating deficit.

Mission

Issuance of asset-backed bonds to purchase rights, title, and interest from county of Niagara, NY under the master settlement agreement. Collection of initial and annual payments to be made by the original participating manufacturers.

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,162,810

Investment Income $259,261

Other Revenue $0

TOTAL REVENUE $2,422,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,143,902

Other Expenses $3,158,729

TOTAL EXPENSES $3,158,729

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,422,071	$2,758,695	-0.1%
Expenses	$3,158,729	$3,083,347	+0.0%
Net Income	$-736,658	$-324,652	+1.3%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kyle R Andrews	Member	0.00	Director	$0	$0	$0
Rebecca Wydysh	President	0.00	Officer Director	$0	$0	$0
Karen S Castle	Sec/Treasurer	1.00	Officer Director	$0	$0	$0
Claude Joerg	Member	0.00	Director	$0	$0	$0
Richard Updegrove	Member	0.00	Director	$0	$0	$0
Anthony Pagliei	Ind. Member	0.00	Director	$0	$0	$0
William Collins	Vice President	0.00	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
2025	$2,422,071	$3,158,729	$6,203,879	$-736,658
2024	No data	No data	No data	No data
2023	$3,725,366	$3,215,409	$7,192,263	$509,957
2022	$4,262,501	$3,226,557	$7,163,718	$1,035,944
2021	$3,919,268	$3,110,725	$6,699,671	$808,543
2020	$3,563,387	$2,756,876	$6,526,273	$806,511
2019	$3,220,284	$3,124,690	$6,376,741	$95,594
2018	$3,581,440	$3,117,071	$6,749,622	$464,369

Niagara Tobacco Asset Securitization Corporation