The 122 Community Center Inc

What it reported doing in 2024

Since its incorporation in 1977, The 122 Community Center Inc. has maintained, managed and improved the highly visible city-owned building located at 150 First Avenue for the benefit of the five resident non-profit cultural and social services organizations and the neighborhood at large. The Center has gradually secured what now amounts to $36M in capital project funding from the City of New York to upgrade the entire building. The first phase of work began in August 2008 and is complete. The second phase; a complete gut renovation began in March 2013 and achieved a Temporary Certificate of Occupancy as of September 1, 2018.As of September 1, 2018, the five resident groups moved back into the newly renovated building and began their programming. The City of New York has fully funded a Faade Upgrade project on the two street-facing facades, to be managed by the NYC Department of Design & Construction. The bid opening is May 28, 2026. The project will take 2 years. Each stone window surround will be replaced with cast stone. Pedestal pavers will be installed on the roof terrace, and the portico on 1st Avenue will be upgraded. The five resident tenants are: Performance Space New York, a world-renowned arts organization that presents new and emerging performing artists from a diversity of cultures and points of view; Mabou Mines which develops and performs award-winning original works to a global audience; Movement Research, one of the world's leading laboratories for the investigation of dance and movement-based forms; Painting Space 122, an artist-run visual arts organization that provides not-for-profit exhibition spaces, project spaces, and studio spaces; and Alliance for Positive Change - a multi-service organization that provides comprehensive programs to help individuals and families in NYC to achieve and maintain the highest quality of life and health in the face of HIV/AIDS.In addition, 12CC maintains a LEED Gold Certification and is committed to reducing its buildings energy emissions even further.

Financial Efficiency

• Mission deployment rate: 88.5%; rating input score 88
• Program expense ratio: 98.1%; rating input score 98
• Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 4 of 7 controls in place; rating input score 57
  • 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: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 9.8%; rating input score 61; 61st percentile among comparable filings
• Total-asset coverage ratio: 0.31; rating input score 14; 14th percentile among comparable filings
• Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 9.1% per year; rating input score 100; 60th percentile among comparable filings
• Revenue growth: 15.6% per year; rating input score 100; 80th percentile among comparable filings
• Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings