Downtown New Rochelle Business Improvement District Management

Nonprofit profile at a glance

EIN
134089489
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
New Rochelle, NY, USA
Phone
9146542063
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$693,283
Expenses
$650,778
Assets
$462,687
Liabilities
$34,634

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

Leadership & pay

14 people listed

Executive titles in this filing

  • KAREL LITTMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KAREL LITTMAN (EXECUTIVE DIRECTOR): $28,535 total reported compensation

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

Overview

Mission

To develop the business district into a vibrant, thriving and sustainable downtown.

What it reported doing in 2024

Program expenses include funding to clean and green the districts sidewalk's, curbs and public spaces, support, promote, develop, and nurture local businesses, property owners and residents in new rochelle's growing cultural, culinary, hospitality and arts/technology sectors downtown, collaborating closely with many of the city's leading organizations.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 93
  • Accountability: 84
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.1%; rating input score 76
  • Program expense ratio: 81.1%; rating input score 81
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • 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: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.1%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.71; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 76.1% of revenue deployed · 81.1% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $528K in reported program spending
  • Leadership: top reported pay $29K · 14 people listed
  • Highest-paid contractors: 1 contractor listed · $390K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.