Kingsbridge Riverdale Van Cortland Development Corporation

Nonprofit profile at a glance

EIN
133097905
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Bronx, NY, USA
Phone
7185437100
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$492,283
Expenses
$300,904
Assets
$349,330
Liabilities
$52,547

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

Leadership & pay

13 people listed

Executive titles in this filing

  • TRACY L SHELTON (Executive Director)
  • Laura Levine-Pinedo (Executive Director)

Highest reported compensation

  • SHARI J HALL (Chief Financial Officer): $53,471 total reported compensation
  • EDAN D SEGAL (Chied Financial Officer): $35,397 total reported compensation
  • TRACY L SHELTON (Executive Director): $24,000 total reported compensation

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

Overview

Mission

Krvc is a bronx-based not for profit organization founded in 1981 to serve the communities in the northwest bronx. Producing community events such as concerts, a community art show, and more at 505bx and at various locations around the bronx, along with supporting small businesses in our area and beautification initiatives

What it reported doing in 2024

Each week two silent meditation sessions are held in the space to provide an opportunity for neighbors to sit in silence together to refresh their minds and bodies while using their own meditation style. Each week, Karaoke Fridays fill 505BX with music, laughs and dozens of joyful community members. A weekly CommuniTea Podcast is also recorded in the space. 505BX includes an art gallery space, Gallery 505, where local artists exhibit their work. In the spring and fall, Monday Fundays are held providing families with a fun after school experience. Monday Fundays are mini-carnivals held in front of our space featuring face painting, a stiltwalker, live music, crafts and snacks. A monthly book club meets at 505BX to engage in a lively discussion about a variety of interesting books over a light lunch. Our KRVC 4Bronx Truck is also periodically parked in front of 505BX to collect donations for the underserved members of our community. In 505BX, we also hold holiday celebrations. KRVC Productions recently released it's first award-winning film Wake Up Call and plans to expand it's work to other parts of the Bronx.

Operating model

Revenue model
Grant-funded. 92% 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.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 86
  • Accountability: 77
  • Sustainability: 57
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.4%; rating input score 50
  • Program expense ratio: 82.5%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: Fail

Sustainability

  • Operating margin: 38.9%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 1.16; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 42.7%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -7.6% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 50.4% of revenue deployed · 82.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $248K in reported program spending
  • Leadership: top reported pay $53K · 13 people listed
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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 — Financial Efficiency: Mission deployment rate scored 50/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.