Yonkers Larkin Garage Inc

Nonprofit profile at a glance

EIN
800730609
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Yonkers, NY, USA
Phone
2126821106
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Support N.E.C.

Reported finances

Revenue
$653,888
Expenses
$574,585
Assets
$1,170,182
Liabilities
$81,728

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

Leadership & pay

5 people listed

Highest reported compensation

  • MIKE SPANO (CHAIR): $339,721 total reported compensation
  • JOHN LISZEWSKI (TREASURER): $273,900 total reported compensation
  • JAMES CAVANAUGH (ASSISTANT SECRETARY): $115,941 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 was formed to lessen the burden of local government in yonkers, ny by obtaining private financing to fund infrastructure improvement projects.

What it reported doing in 2024

The organization lessened the burdens of government for the city of yonkers, New York with the construction of the 300 space larkin parking garage. Ninety-two of the 300 spaces were dedicated to residents in a low income work force housing project that was developed directly across the street from the garage. The development of the garage also enabled the city of yonkers to proceed with the daylighting of the saw mill river which resulted in the creation of a 4 acre central city river park. The public use garage was seen as a critical piece in the city's efforts to renew its downtown and make it more attractive for residential and small business development.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 58
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.2%; rating input score 59
  • Program expense ratio: 71.7%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 20%; rating input score 20; 9th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.1%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 2.04; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 14.1%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: -8.1% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -4.8% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 59.2% of revenue deployed · 71.7% of spending went to programs
  • Governance: 1 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $412K in reported program spending
  • Leadership: top reported pay $340K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Accountability: Independent voting board scored 20/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.