Prospect Park Alliance Inc

Overview

Mission

In partnership with the City of New York and the community, the Prospect Park Alliance restores, develops, and operates Prospect Park for the enjoyment of all by caring for the natural environment, preserving historic design, and serving the public through facilities and programs.

What it reported doing in 2024

Visitor Services and Events: Prospect Park receives more than 10 million visits each year and the Alliance serves visitors to the Park by offering a variety of fee-based recreational activities, public and private events, and food service operations. Recreational activities include a year-round tennis center and carousel rides in the summer. A variety of food and beverage services are available in the park, private events may be held at a number of different locations, and public events are coordinated throughout the year. The Alliance also sublicenses the LeFrak Center and works closely with the operator to provide a variety of year round recreational activities.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
112843763
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Headquarters
Brooklyn, NY, USA
Phone
7189658951
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Parks and Playgrounds

Official website

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.7%; rating input score 53
  • Program expense ratio: 81.5%; rating input score 82
  • Fundraising efficiency: $13.57 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 40.2%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 3.24; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 52.7% of revenue deployed · 81.5% of spending went to programs
  • Governance: 35 of 35 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $14.7M in reported program spending
  • Leadership: top reported pay $307K · 43 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.4M reported
  • Consistency: 49 of 49 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 16 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Leadership & pay

43 people listed

Highest reported compensation

  • Morgan Monaco (President): $306,552 total reported compensation
  • James Snow (COO/CFO): $278,459 total reported compensation
  • Christian Zimmerman (VP, Capital & Landscape Management): $200,536 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.