Washington Square Park Conservancy Inc

Nonprofit profile at a glance

EIN
461406128
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
9175195625
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Parks and Playgrounds

Official website

Reported finances

Revenue
$978,504
Expenses
$1,828,762
Assets
$3,862,886
Liabilities
$389,403

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

Leadership & pay

26 people listed

Executive titles in this filing

  • JUSTINE LEGUIZAMO (VICE PRESIDENT)
  • KYUNG CHOI BORDES (PRESIDENT)
  • WILL MORRISON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ASHLEY DAVIS (DEPUTY DIRECTOR): $125,212 total reported compensation
  • WILL MORRISON (EXECUTIVE DIRECTOR): $35,000 total reported compensation

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

Overview

Mission

Wspc provides funds to nyc parks department to support staffing and supplies for Washington square park.

What it reported doing in 2024

Community - wspc supported various public events throughout the year including arts grants, public programs and a full-time playground associate, a nyc parks department employee. Wspc supports regular public programs and opportunities for volunteers to serve the park, including greeter/guide, horticulture and photography programs. 690 volunteers served 1,183 hours at the park during the year.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 74.6%; rating input score 75
  • Fundraising efficiency: $4.25 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -86.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 2.11; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 21% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 17.2% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 24.1% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 74.6% of spending went to programs
  • Governance: 20 of 22 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $125K · 26 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.