Chelsea Piers Foundation

Nonprofit profile at a glance

EIN
133991838
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128631308
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Developmentally Disabled Centers

Official website

Reported finances

Revenue
$1,746,201
Expenses
$1,163,975
Assets
$4,439,140
Liabilities
$266,934

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ALEXANDER N MCKHANN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALEXANDER N MCKHANN (EXECUTIVE DIRECTOR): $100,831 total reported compensation

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

Overview

Mission

A charitable organization, which provides scholarships for underprivileged children and adolescents who wish to participate in various sports activities throughout the summer or after-school camp programs - at chelsea piers and throughout New York city & Connecticut

What it reported doing in 2024

Scholarships and grantmaking for various sports activities such as; golf, gymnastics, soccer and ice-skating camps, as well as after-school programs and summer camps at the chelsea piers sports complexes located in New York city and Connecticut and certain other programs.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.8%; rating input score 52
  • Program expense ratio: 75.5%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.3%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 3.81; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 14.8% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 13.7% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 25.1% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 51.8% of revenue deployed · 75.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $879K in reported program spending
  • Leadership: top reported pay $101K · 12 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.