50 Broadway Realty Corp

Nonprofit profile at a glance

EIN
020555262
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2127777500
Rating confidence
Limited

Reported finances

Revenue
$13,364,093
Expenses
$16,801,129
Assets
$94,044,886
Liabilities
$78,189,717

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • MICHAEL MULGREW (PRESIDENT)

Highest reported compensation

  • MICHAEL MULGREW (PRESIDENT): $431,656 total reported compensation
  • LEROY BARR (SECRETARY): $344,339 total reported compensation
  • KEVIN RIDDER (BLDG MAINTENANCE): $295,485 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Was organized for the purpose of acquiring and operating real property located at 50 broadway, New York, New York on behalf of the united federation of teachers, local 2.

What it reported doing in 2024

Gross expenses incurred by corporatin holding title to property for an exempt organization.

Operating model

Revenue model
Other-operating. 93% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 9
  • Sustainability: 32
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -25.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 5.6; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.9% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $432K · 8 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.2M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.