Grand Central Partnership Inc
Nonprofit profile at a glance
- EIN
- 133275810
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2128832420
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Business and Industry
Reported finances
- Revenue
- $14,093,577
- Expenses
- $13,408,534
- Assets
- $19,329,769
- Liabilities
- $6,905,092
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
External affairs - promoting the district through corporate communications, social media and public relations campaigns; retail and commercial business support; marketing; sponsorship opportunities and special events; and the compilation of demographic and other key data about the midtown east neighborhood.
Operating model
- Revenue model
- Earned-program. 94% of the money available for current operations came from fees and other program revenue.
- 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.
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 assets have declined or grown slowly.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 92
- Accountability: 86
- Sustainability: 45
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.9%; rating input score 78
- Program expense ratio: 85.9%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 84.2%; rating input score 84; 18th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 4.9%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 1.44; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0.36; rating input score 40; 40th percentile among comparable filings
- Officer compensation ratio: 17.8%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: 0.2% per year; rating input score 100; 11th percentile among comparable filings
- Revenue growth: 0.6% per year; rating input score 100; 10th percentile among comparable filings
- Asset growth: -3.1% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 77.9% of revenue deployed · 85.9% of spending went to programs
- Governance: 32 of 38 board members independent · 8 of 9 filing controls reported
- Programs: 7 filed program accomplishments · $11.5M in reported program spending
- Leadership: top reported pay $818K · 46 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $2.2M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 10 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 9 filed money-flow records
- Related organizations: 2 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Sustainability: Operating margin scored 53/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.
- High — Sustainability: Officer compensation ratio scored 5/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 40/100.