Building 127 Ll Inc

Nonprofit profile at a glance

EIN
831766314
IRS 990 coverage
2018–2025
Forms available
Form 990 2025
Location
Brooklyn, NY, USA
Phone
7189075981
Rating
28
Verdict
REVIEW
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$7,940,221
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • PAUL KELLY (PRESIDENT, DIRECTOR)

Highest reported compensation

  • WIMAL ARIYAWANSA (TREASURER, DIRECTOR): $378,496 total reported compensation
  • SHANNY SPRAUS-REINHARDT (VP, DIRECTOR): $361,832 total reported compensation
  • PAUL KELLY (PRESIDENT, DIRECTOR): $330,785 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Building 127 ll, inc. Was formed as part of brooklyn navy yard development corporation's ("bnydc") efforts to renovate building 127 (the "project"), an industrial facility, that is a certified historic structure and is eligible for investment tax credits for qualifying rehabilitation expenditures pursuant to section 47 of the irc. The corporation will engage solely in the facilitation of financing for redevelopment and subsequent leasing of building 127. To facilitate the financing of the project renovations, the corporation borrowed funds and will use the proceeds of the loans to make a loan to the investment fund

What it reported doing in 2025

Building 127 ll, inc. Provided $24,953,000 of financing for redevelopment and subsequent leasing of building 127. To facilitate the financing of the project renovations, the corporation borrowed funds and used the proceeds of the loans to make a loan to the investment fund

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 40
  • Sustainability: NotEnoughData
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 20%; rating input score 20; 8th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 52.2% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -9.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 1 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $378K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2018 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 5 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Independent voting board scored 20/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.