The Crenulated Company Ltd

Nonprofit profile at a glance

EIN
141719016
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122656530
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing, Shelter N.E.C.

Official website

Reported finances

Revenue
$9,425,195
Expenses
$10,591,717
Assets
$4,686,218
Liabilities
$2,021,250

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

Leadership & pay

26 people listed

Executive titles in this filing

  • CHARLES S WARREN (OUTGOING PRESIDENT/ CHAIR)
  • JUDITH HERBSTMAN (PRESIDENT)
  • RIGAUD NOEL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JUDITH HERBSTMAN (PRESIDENT): $316,588 total reported compensation
  • RIGAUD NOEL (EXECUTIVE DIRECTOR): $217,120 total reported compensation
  • KRISTEN ANDREAZZA (CFO): $168,135 total reported compensation

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

Overview

Mission

The organization offers to its residents and to the larger community, opportunities for organized civic engagement, adult education classes and a wide range of youth development programs focused on educational achievement, community service, leadership development, recreational outdoor adventures and the arts through a related entity that owns a community center in the bronx, New York. The organization provides support for affordable housing projects, through their owned and operated by its related entities.

What it reported doing in 2024

Community services & educational programs: the crenulated company, ltd. Serves the community with programs like the college access center and the parents action committee, which provide important resources to the neighborhood's youth and families. The crenulated company, ltd. Collaborates closely with a wide range of educational institutions, housing and community development organizations, businesses, youth development and social service agencies in the neighborhood, bronx-wide, across nyc and state, and nationally.

Operating model

Revenue model
Grant-funded. 61% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 93
  • Transparency & Controls: 62
  • Accountability: 86
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: $26.53 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: -12.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -2.6% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.9% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $9.5M in reported program spending
  • Leadership: top reported pay $317K · 26 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $817K reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 140 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.