Grand Central District Management Association Inc

Nonprofit profile at a glance

EIN
133520221
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128832420
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$12,709,372
Expenses
$12,709,372
Assets
$1,026,394
Liabilities
$1,026,394

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

Leadership & pay

46 people listed

Executive titles in this filing

  • ALFRED C CERULLO III (PRESIDENT & C.E.O.)

Highest reported compensation

  • ALFRED C CERULLO III (PRESIDENT & C.E.O.): $817,692 total reported compensation
  • MARC WURZEL (GENERAL COUNSEL & ASSISTANT): $315,901 total reported compensation
  • ROCHELLE PATRICOF (VP FOR ADMIN & OPERATIONS): $315,318 total reported compensation

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

Overview

Mission

The grand central partnership provides supplemental public safety, sanitation, streetscape improvement, visitor information and business support services, including marketing and special events to benefit property owners, businesses and residents in a 70 square block area of midtown manhattan.

What it reported doing in 2024

All programs are provided by the grand central partnership, inc. (EIN 13-3275810).

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 77
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 84.2%; rating input score 84; 18th 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 9th percentile among comparable filings
  • Asset growth: -13.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 32 of 38 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.7M in reported program spending
  • Leadership: top reported pay $818K · 46 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.