PROSPECT PARK ALLIANCE INC

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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

1987

Legal Domicile

Principal Officer

Morgan Monaco

Phone

7189658951

Tax Period

2023-07-01 to 2024-06-30

PROSPECT PARK ALLIANCE INC, founded in 1987, is a mid-sized nonprofit in the Recreation & Sports sector that reported $18.2M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $17.0M left a modest 6% surplus.

Mission

In partnership with the City of New York and the community, the Prospect Park Alliance restores, develops, and operates Prospect Park for the enjoyment of all by caring for the natural environment, preserving historic design, and serving the public through facilities and programs.

Program Service Accomplishments

Program 1

Expenses: $5,446,388 Revenue: $6,154,563

Visitor Services and Events: Prospect Park receives more than 10 million visits each year and the Alliance serves visitors to the Park by offering a variety of fee-based recreational activities...

Visitor Services and Events: Prospect Park receives more than 10 million visits each year and the Alliance serves visitors to the Park by offering a variety of fee-based recreational activities, public and private events, and food service operations. Recreational activities include a year-round tennis center and carousel rides in the summer. A variety of food and beverage services are available in the park, private events may be held at a number of different locations, and public events are coordinated throughout the year. The Alliance also sublicenses the LeFrak Center and works closely with the operator to provide a variety of year round recreational activities.

Program 2

Expenses: $3,138,697 Revenue: $2,436,915

Design and Construction: Prospect Park Alliance restores the landscapes and buildings within the Park while preserving the historic design. Projects go through a design and approval process, in...

Design and Construction: Prospect Park Alliance restores the landscapes and buildings within the Park while preserving the historic design. Projects go through a design and approval process, in partnership with the City of New York Department of Parks and Recreation, and are supervised during construction by Prospect Park Alliance. Projects designed by Prospect Park Alliance have won a number of prestigious awards.

Program 3

Expenses: $3,078,666 Revenue: $53,733

Field Operations: Prospect Park Alliance partners with the City of New York Department of Parks and Recreation (NYC Parks) in caring for the Park's natural environment. The Landscape Management Team monitors, restores and maintains 250 acres of natural areas, coordinating volunteers and the Alliance's Woodlands Youth Crew in this work. The Alliance also provides maintenance staff, supplementing the staff of NYC Parks in cleaning the Park as well as providing a crew to make repairs.

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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 (2023)

Revenue Breakdown

Contributions & Grants $8,489,763

Program Service Revenue $8,645,211

Investment Income $1,622,665

Other Revenue $-570,904

TOTAL REVENUE $18,186,735

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,847,106

Fundraising Expenses $1,670,633

Program Expenses $13,275,596

Other Expenses $7,839,182

TOTAL EXPENSES $17,012,763

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,186,735	$14,051,056	+0.3%
Expenses	$17,012,763	$14,717,514	+0.2%
Net Income	$1,173,972	$-666,458	-2.8%

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

Employees

212

Volunteers

2595

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

$295,385

Total Directors