Flushing Meadows Corona Park Improvement Fund Inc

Nonprofit profile at a glance

EIN
134093706
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2126698947
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Parks and Playgrounds

Reported finances

Revenue
$418,177
Expenses
$574,383
Assets
$8,551,619
Liabilities
$7,750

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Susan M Donoguhe (President)

People named in this filing

  • Alessandro Olivieri (Secretary)
  • Allan Swisher (Vice ChairPresident)
  • Lynne K Fleischman (Member)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The fund was established for the exclusive charitable and public purpose of benefiting, improving and enhancing Flushing Meadows Corona Park (the Park) in Queens, New York and for the improvement and development of the Park.

What it reported doing in 2024

SUMMER STAGE CONCERT - The Organization sponsored and funded a free summer cultural concert series held at Flushing Meadows Corona Park, providing accessible arts and cultural programming to the surrounding community. The program featured live performances, including music and entertainment, and was designed to promote community engagement, cultural enrichment, and public use of the Park. The concerts were open to the general public at no cost, serving residents of Queens and visitors from across New York City. The program supports the Organizations mission to enhance the Park as a vibrant public space.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.7%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -37.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 14.89; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 21.8% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 21.1% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $567K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • 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.

  • High — Sustainability: Operating margin scored 7/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.