NEW YORK CENTER FOR RESEARCH ECONOMIC ADVANCEMENT TECHNOLOGY ENGINEERING AND (EIN 844046818) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

DAVID ANDERSON

Phone

5189567322

Tax Period

2022-07-01 to 2023-06-30

NEW YORK CENTER FOR RESEARCH ECONOMIC ADVANCEMENT TECHNOLOGY ENGINEERING AND, founded in 2018, is a community nonprofit in the Science & Technology sector that reported $4.5M in total revenue in fiscal year 2020.

Mission

THE NEW YORK CENTER FOR RESEARCH, ECONOMIC ADVANCEMENT, TECHNOLOGY, ENGINEERING AND SCIENCE CORPORATION (NY CREATES) FORMED FOR THE PURPOSE OF ADVANCING SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT WITHIN NEW YORK STATE. SPECIFICALLY, THE PURPOSE OF NY CREATES IS TO FACILITATE THE ATTRACTION AND EXPANSION OF INNOVATIVE RESEARCH AND DEVELOPMENT PROJECTS AND FACILITIES, AND TO DEVELOP STRATEGIC ASSETS THAT SUPPORT THE GROWTH OF HIGH TECHNOLOGY COMPANIES THROUGHOUT THE STATE IN COOPERATION WITH THE STATE UNIVERSITY OF NEW YORK (SUNY) AND THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION D/B/A/ EMPIRE STATE DEVELOPMENT (ESD).

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $5,000,000

Program Service Revenue $0

Investment Income $0

Other Revenue $12,502,814

TOTAL REVENUE $17,502,814

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $11,442,867

Other Expenses $11,442,867

TOTAL EXPENSES $11,442,867

Year-over-Year Comparison

	2022	2021	Change
Revenue	$17,502,814	$6,615,819	+1.6%
Expenses	$11,442,867	$5,280,820	+1.2%
Net Income	$6,059,947	$1,334,999	+3.5%

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

$1,343,617

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL ABBOTT	DIRECTOR	0.50	Director	$0	$0	$0
ANITA BROWN	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTINE CHUNG	DIRECTOR	0.50	Director	$0	$0	$0
HEATHER HAGE	DIRECTOR	0.50	Director	$0	$0	$0
DOREEN HARRIS	DIRECTOR	0.50	Director	$0	$0	$0
MENG-LING HSIAO	DIRECTOR	0.50	Director	$0	$0	$0
JOAN MCDONALD	DIRECTOR	0.50	Director	$0	$0	$0
KRISTIN PROUD	DIRECTOR	0.50	Director	$0	$0	$0
KENNETH TOMPKINS	DIRECTOR	0.50	Director	$0	$0	$0
PATRICIA ARCIERO-CRAIG	CAO, ACTING GENERAL COUNSEL	1.00	Officer	$256,392	$51,477	$307,869
TIMOTHY TAYLOR	CFO	1.00	Officer	$202,060	$104,485	$306,545
DAVID ANDERSON	PRESIDENT	1.00	Officer	$284,287	$10,597	$294,884
PAUL KELLY	COO	1.00	Officer	$202,303	$47,942	$250,245
PATRICIA BUCKLIN	SECRETARY	1.00	Officer	$168,046	$16,028	$184,074
SCOTT BATEMAN	TREASURER	0.50	Officer	$0	$0	$0
DOUG GROSE	PAST PRES/CHAIRMAN, DIR	0.00		$183,076	$0	$183,076

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$17,502,814	$11,442,867	$7,538,258	$6,059,947
2022	$6,615,819	$5,280,820	$1,449,531	$1,334,999
2021	$4,450,000	$4,350,035	$99,965	$99,965

NEW YORK CENTER FOR RESEARCH ECONOMIC ADVANCEMENT TECHNOLOGY ENGINEERING AND