NEW YORK INSTITUTE OF CREDIT Charity Report

Public IRS 990 nonprofit record

NEW YORK INSTITUTE OF CREDIT

EIN 13-6401350 · Education (B)

What they do

THE PURPOSE of THE INSTITUTE is to PROVIDE EDUCATION to THE FINANCIAL, CREDIT, RESTRUCTURING and BANKRUPTCY COMMUNITIES, THE PROFESSIONALS WHO SERVICE THEM, AS WELL AS STUDENTS. THE INSTITUTE OFFERS PROGRAMS, SEMINARS, WORKSHOPS, SYMPOSIUMS, and OTHER EDUCATIONAL and COMMUNITY BUILDING EVENTS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $80.90 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders29 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

75.59%of revenue went to mission work80.9% of expenses · Program services

$93.41spent for every $100 of revenueRevenue covered expenses this year.

17.82%of revenue went to management and office costs19.1% of expenses

$0.33in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $110,500 for HARVEY GROSS - HSG SERVICES INC (EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$418,777

Mission workProgram services$316,55175.59% of revenue80.9% of expenses

ManagementOffice and general costs$74,62417.82% of revenue19.1% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$27,6026.59% of revenueShown in gray on the chart

Total expenses$391,17593.41% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 80.9% mission · 19.1% management · 0.0% fundraisingTotal expenses: 93.41% of revenue

2023Expense mix: 81.4% mission · 18.6% management · 0.0% fundraisingTotal expenses: 101.94% of revenue

2022Expense mix: 81.8% mission · 18.2% management · 0.0% fundraisingTotal expenses: 107.04% of revenue

2021Expense mix: 82.3% mission · 17.7% management · 0.0% fundraisingTotal expenses: 108.21% of revenue

2020Expense mix: 71.0% mission · 29.0% management · 0.0% fundraisingTotal expenses: 110.49% of revenue

2019Expense mix: 77.8% mission · 22.2% management · 0.0% fundraisingTotal expenses: 103.25% of revenue

2018Expense mix: 84.3% mission · 15.7% management · 0.0% fundraisingTotal expenses: 104.96% of revenue

2017Expense mix: 83.1% mission · 16.9% management · 0.0% fundraisingTotal expenses: 91.25% of revenue

Money in and money out

Revenue$418,777

Expenses$391,175

Annual surplus $27,602 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$316,551 · 80.9% of expenses

Management and office costs$74,624 · 19.1% of expenses

See all reported dollar amounts

Revenue$418,777

Expenses$391,175

Assets$129,045

Income$418,777

Mission work (program services)$316,551

Management and general$74,624

Accounting fees$17,165

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

HARVEY GROSS - HSG SERVICES INCEXECUTIVE DIRECTOR · 20 hrs/week $110,500

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (29)

HARVEY GROSS - HSG SERVICES INCEXECUTIVE DIRECTOR

JONATHAN BODNERSECRETARY

TINAMARIE FEILMEMBER

TERRY KEATINGMEMBER

STEPHANIE SWEENEYMEMBER

SHERYL GIUGLIANOMEMBER

ROBERT KATZMEMBER

RAFFI AZADIANMEMBER AT LARGE

PAUL H SHURVP EDUCATION

PAUL DEUTCHMEMBER

NEIL GUPTAMEMBER

MORGAN LUCHSMEMBER

MELANIE CYGANOWSKIPRESIDENT

MARK INDELICATOCHAIRMAN

KIM DESMARAISMEMBER

KEVIN ZUZOLOMEMBER

ALLEN WILENPAST CHAIRMAN

JOHN DEPLEDGEMEMBER

JENNIFER PALMERMEMBER

JEFFREY HAMPTONVP PROGRAMMING

JACEN DINOFFMEMBER

GLENN SCHWARTZMEMBER

FRANK GRIMALDIMEMBER

DAVID E BERLINERTREASURER/ VP FINANCE

CHARVI GUPTAMEMBER

CHARLES BERKMEMBER

CASSIE ROSENTHALVP MEMBERSHIP

CARYN ALEXANDERMEMBER

BETH BROWNSTEINMEMBER

About this charity

Recognized since: January 1950
Location: 405 LEXINGTON AVENUE 26TH FLOOR, NEW YORK, NY 10174-2699
County: New York
In care of: MARK INDELICATO
Primary officer: MARK INDELICATO, CHAIRMAN

How to reach them

WebsiteVisit the charity’s website Emailinfo@instituteofcredit.org Phone(917) 338-7000

Filing and classification

Latest tax year: 2024
Tax period began: August 1, 2024
Return type: 990
Tax preparer: SAVASTANO KAUFMAN ADVISORS LLC
NTEE classification: Education (B)
IRS tax category: Education