Greenway Business Improvement District Corporation

Nonprofit profile at a glance

EIN
831360746
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6175026240
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,791,444
Expenses
$1,790,876
Assets
$683,344
Liabilities
$521,412

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

Leadership & pay

11 people listed

Executive titles in this filing

  • RICHARD DIMINO (FORMER EXECUTIVE DIRECTOR/DIRECTOR)
  • THOMAS RYAN (EXECUTIVE DIRECTOR)

People named in this filing

  • RICHARD DIMINO (FORMER EXECUTIVE DIRECTOR/DIRECTOR)
  • STEVE FABER (CHAIR)
  • DON CHIOFARO JR (VICE CHAIR)

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 mission of the corporation is to (1) facilitate the maintenance, operations, and enhancements of the rose f. Kennedy greenway park (the "greenway") to ensure that the greenway is and remains a first-class park equitably accessible to a diverse range of boston residents and visitors, (2) to enhance and improve the overall experience for everyone who works or lives in the district or visits the greenway, (3) to develop attractive business conditions throughout the business improvement district, and (4) to preserve and enhance property values through the district.

What it reported doing in 2024

Greenway bid was incorporated with the specific mission to (1) facilitate the maintenance, operations, and enhancements of the rose f. Kennedy greenway park ("greenway") ensuring that the greenway is and remains a first-class park equitably accessible to a diverse range of boston residents and visitors, (2) enhance and improve the overall experience for everyone who works or lives in the business improvement district ("district") or visits the greenway, (3) develop attractive business conditions throughout the district, and (4) preserve and enhance property values through the district.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 93
  • Accountability: 100
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.3%; rating input score 89
  • Program expense ratio: 89.3%; rating input score 89
  • 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; 76th percentile among comparable filings
  • 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: 0%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 24.4% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 89.3% of revenue deployed · 89.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Highest-paid contractors: 1 contractor listed · $191K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.