Lower Manhattan Cultural Council Inc

Nonprofit profile at a glance

EIN
237348782
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122199401
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$4,206,254
Expenses
$4,842,523
Assets
$9,356,332
Liabilities
$1,313,063

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

Leadership & pay

24 people listed

Executive titles in this filing

  • CRAIG PETERSON (PRESIDENT & CEO (TO 12/2024))
  • MOHAMMAD YOUSUF (PRESIDENT & CEO)

Highest reported compensation

  • CRAIG PETERSON (PRESIDENT & CEO (TO 12/2024)): $211,302 total reported compensation
  • MOHAMMAD YOUSUF (PRESIDENT & CEO): $130,264 total reported compensation
  • EMMA S MONTAYA HILLS (CHIEF OPERATING OFFICER): $32,805 total reported compensation

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

Overview

Mission

See schedule o.

What it reported doing in 2024

Programs: a variety of public programs (symposia, conferences, public art exhibits, performances, and film screenings) produced to stimulate innovative art and dialogue on contemporary urban issues, and to bring art to downtown audiences.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 57% for direct work, and 43% for 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.2%; rating input score 98
  • Program expense ratio: 85.3%; rating input score 85
  • Fundraising efficiency: $15.52 raised per $1 spent on fundraising; rating input score 52; 52nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 83.4%; rating input score 83; 23rd percentile among comparable filings
  • 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: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.93; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 98.2% of revenue deployed · 85.3% of spending went to programs
  • Governance: 21 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4.1M in reported program spending
  • Leadership: top reported pay $211K · 24 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $110K reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 70 filed money-flow records
  • Related organizations: 67 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.

  • High — Sustainability: Operating margin scored 9/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 52/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.