52 BROADWAY REALTY CORP

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

MICHAEL MULGREW

Phone

2127777500

Tax Period

2024-08-01 to 2025-07-31

52 BROADWAY REALTY CORP, founded in 2002, is a mid-sized nonprofit in the Unknown sector that reported $12.1M in total revenue in fiscal year 2024. Expenses of $26.9M exceeded revenue, resulting in a 123% operating deficit.

Mission

WAS ORGANIZED FOR THE PURPOSE OF ENTERING INTO A LONG-TERM NET LEASE OF LAND AND BUILDING LOCATED AT 52 BROADWAY, NEW YORK, NY, ON BEHALF OF THE UNITED FEDERATION OF TEACHERS, LOCAL 2.

Program Service Accomplishments

Program 1

GROSS EXPENSES INCURRED BY THE CORPORATION FOR THE PURPOSE OF ENTERING INTO A LONG-TERM NET LEASE OF LAND AND BUILDING FOR AN EXEMPT ORGANIZATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,615,386

Investment Income $411,227

Other Revenue $1,037,438

TOTAL REVENUE $12,064,051

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $26,868,252

TOTAL EXPENSES $26,868,252

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,064,051	$12,089,112	0.0%
Expenses	$26,868,252	$27,781,216	0.0%
Net Income	$-14,804,201	$-15,692,104	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$898,255

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MULGREW	PRESIDENT	1.00	Officer	$0	$84,574	$431,656
LEROY BARR	SECRETARY	1.00	Officer	$0	$104,632	$344,339
VICTORIA LEE	TREASURER	1.00	Officer	$0	$24,057	$122,260

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$12,064,051	$26,868,252	$129,748,728	$-14,804,201
2024	$12,089,112	$27,781,216	$136,656,779	$-15,692,104
2023	$13,595,227	$24,890,907	$136,293,468	$-11,295,680
2022	$14,655,057	$23,595,280	$48,356,430	$-8,940,223
2021	$15,066,010	$24,762,550	$50,887,165	$-9,696,540
2020	$15,194,509	$24,626,054	$52,835,697	$-9,431,545
2019	$13,030,101	$23,846,683	$55,053,147	$-10,816,582
2018	$11,598,932	$24,737,346	$55,892,287	$-13,138,414