Canal Street Merchants Association Inc

Nonprofit profile at a glance

EIN
333507222
IRS 990 coverage
2025–2025
Forms available
Form 990 2025
Location
New York, NY, USA
Phone
9173189172
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$66,093
Expenses
$55,336
Assets
$13,407
Liabilities
$2,650

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

Leadership & pay

3 people listed

Executive titles in this filing

  • NIALLS FALLON (PRESIDENT)

People named in this filing

  • LEAH CAMPBELL (SECRETARY)
  • NIALLS FALLON (PRESIDENT)
  • NICK PERKINS (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The association is organized as a business league under section 501(c)(6) of the internal revenue code, with the following objectives: 1.to promote, support, and enhance the economic vitality and cultural vibrancy of businesses on and around canal street in New York city. 2.to advocate for the interests of member businesses through marketing, education, and community engagement initiatives. 3.to manage and coordinate programs, including but not limited to the open streets program, to improve pedestrian access, safety, and the public realm. 4.to foster collaboration among merchants, property owners, and the local community to improve the business environment.

What it reported doing in 2025

The organizations purpose is to promote, support, and enhance the economic vitality and cultural vibrancy of businesses on and around canal street in New York city. To advocate for the interests of member businesses through marketing, education, and community engagement initiatives. To manage and coordinate programs, including but not limited to the open streets program, to improve pedestrian access, safety, and the public realm. To foster collaboration among merchants, property owners, and the local community to improve the business environment.

Operating model

Revenue model
Earned-program. 75% of the money available for current operations came from fees and other program revenue.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 44
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 95.6%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.3%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 80% of revenue deployed · 95.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $53K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 1 filed schedules
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.