Grand Central Neighborhood Social Services Corp

Nonprofit profile at a glance

EIN
133534255
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128830680
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Centers

Reported finances

Revenue
$4,546,140
Expenses
$4,245,077
Assets
$5,517,991
Liabilities
$4,885,438

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ALFRED CERULLOIII (PRESIDENT)
  • BRADY CRAIN (EXECUTIVE DIRECTOR)
  • JACQUELINE CONNOR (DEPUTY EXECUTIVE DIRECTOR)

Highest reported compensation

  • BRADY CRAIN (EXECUTIVE DIRECTOR): $261,278 total reported compensation
  • JACQUELINE CONNOR (DEPUTY EXECUTIVE DIRECTOR): $161,395 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 organization is committed to providing immediate relief to midtown manhattan's homeless population. Through our mainchance drop-in center, we offer basic necessities (food, clothing, showers, and chairs for respite) and a range of social services including employment counseling, treatment referrals, and housing assistance. In order to help people use our center as a bridge to a more secure life, we have designed a consumer-oriented membership program to meet our clients at their various levels of need tailoring our services to fit the specific situations of each individual. We give them a choice and, in doing so, we give them a greater chance of success. We recognize that, for some, simply coming in from the streets is a significant step. It is these people those usually excluded from other service agencies that we aid most.

What it reported doing in 2024

Mainchance multi-service center and services - the organization, through its mainchance multi-service center, offers basis necessities to its clients such as food, clothing, showers, and beds, for evening respite through a collaboration with faith-based organizations. They also provide a wide range of social services including case management, group workshops, medical and psychological services, treatment referrals, and housing assistance. The organization aims to help its clients secure stable housing by working closely with them to develop and improve the skills necessary to obtain and maintain housing stability.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.2%; rating input score 91
  • Program expense ratio: 97.6%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 6.6%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 22.8% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 91.2% of revenue deployed · 97.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.1M in reported program spending
  • Leadership: top reported pay $261K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.