Grand Street Northwest Inc C/o Comerford & Dougherty Llp

Nonprofit profile at a glance

EIN
475484832
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Garden City, NY, USA
Phone
5162484817
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Rehabilitation

Reported finances

Revenue
$4,791,656
Expenses
$3,393,733
Assets
$129,663,421
Liabilities
$13,005,398

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MSGR KEVIN SULLIVAN (PRESIDENT/DIRECTOR)

Highest reported compensation

  • KEVIN CRONIN (DIRECTOR): $120,000 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 provide housing and related facilities and social services programs to the broadest range of low and moderate income persons, elderly persons, and handicapped persons in need on a nonprofit basis without regard to race, creed, sex or national origin.

What it reported doing in 2024

The organization constructs, develops, and operates apartment complexes for low and moderate income persons, handicapped persons, and elderly persons and funds social services programs for such facilities. The organization also supports other organizations engaged in such activities, primarily through lending money to such projects.

Operating model

Revenue model
Investment-supported. 73% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 93
  • Accountability: 85
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.1%; rating input score 38
  • Program expense ratio: 65.5%; rating input score 66
  • 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; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29.2%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 38.21; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 25.5% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -1.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 38.1% of revenue deployed · 65.5% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $120K · 6 people listed
  • Highest-paid contractors: 4 contractors listed · $2.6M reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 8 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.