FRIENDS OF THE NEW YORK TRANSIT MU… - Form 990 Financial Data

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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

1995

Legal Domicile

Principal Officer

CONCETTA BENCIVENGA

Phone

7186943958

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF THE NEW YORK TRANSIT MUSEUM, founded in 1995, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Net assets of $13.6M represent 66 months of operating reserves.

Mission

SUPPORT THE NEW YORK TRANSIT MUSEUM'S COLLECTIONS AND EXHIBITIONS AND PRESERVE THE HISTORY, SOCIOLOGY AND TECHNOLOGY OF PUBLIC TRANSPORTATION IN THE NEW YORK METROPOLITAN AREA. IN ADDITION, SUPPORT THE MUSEUM'S ARCHIVAL, CURATORIAL, EDUCATIONAL, AND RESTORATION PROJECTS.

Program Service Accomplishments

Program 1

Expenses: $1,474,709 Revenue: $790,491

THE FRIENDS OF THE NEW YORK TRANSIT MUSEUM'S MAIN PROGRAMS TO SUPPORT THE MUSEUM INCLUDED:1. NOSTALGIA RIDES OFFERS OPPORTUNITIES TO RIDE OUR BELOVED VINTAGE FLEET OF TRAINS TO DESTINATIONS ALL OVER THE CITY. HOLIDAY THEME TRAIN EXHIBIT IN THE MUSEUM.2. HOLIDAY-THEMED TRAIN EXHIBIT ALLOWS EVERYONE OF ALL AGES TO EXPLORE OUR FESTIVE HOLIDAY-THEMED TRAIN EXHIBIT AT THE MUSEUM, CELEBRATING THE RICH HERITAGE OF TRANSPORTATION IN A SEASONAL SETTING.3. OUR EDUCATIONAL TOURS INVITE SCHOOL GROUPS TO EXPLORE THE MUSEUM'S INTERACTIVE EXHIBITS, WHERE THEY CAN LEARN HOW TRANSPORTATION HAS SHAPED NEW YORK CITY FROM ITS EARLY DAYS TO THE PRESENT.

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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 $1,259,866

Program Service Revenue $790,491

Investment Income $643,633

Other Revenue $-214,757

TOTAL REVENUE $2,479,233

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,498,948

Fundraising Expenses $363,023

Program Expenses $1,474,709

Other Expenses $929,982

TOTAL EXPENSES $2,428,930

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,479,233	$2,934,400	-0.2%
Expenses	$2,428,930	$1,729,168	+0.4%
Net Income	$50,303	$1,205,232	-1.0%

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

Volunteers

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

$98,367

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN GILBERT	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
ALFREDO QUINTERO	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
MARTIN APPEL	TRUSTEE	1.00	Director	$0	$0	$0
CARLA CRAFT	TRUSTEE	1.00	Director	$0	$0	$0
BEVERLY DOLINSKY	TRUSTEE	1.00	Director	$0	$0	$0
JOHN DI DOMENICO	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT FURNISS	TRUSTEE, THRU AUGUST 2023	1.00	Director	$0	$0	$0
KURT A GODDARD	TRUSTEE	1.00	Director	$0	$0	$0
WYNTON HABERSHAM	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD T SEAMAN	TRUSTEE	1.00	Director	$0	$0	$0
RUBY SIEGEL	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN VACARRO	TRUSTEE	1.00	Director	$0	$0	$0
JOHN VASILJ	TRUSTEE	1.00	Director	$0	$0	$0
GERALD WEINSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
CONCETTA BENCIVENGA	MUSEUM DIRECTOR	20.00	Officer	$92,364	$6,003	$98,367
SARAH LANDRETH	DIRECTOR OF DEVELOPMENT	40.00	Highest	$109,297	$1,920	$111,217

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
2024	No data	No data	No data	No data
2023	$2,479,233	$2,428,930	$14,724,429	$50,303
2022	$2,934,400	$1,729,168	$13,522,737	$1,205,232
2021	$2,835,605	$1,446,954	$14,559,294	$1,388,651
2020	$2,066,293	$2,348,675	$12,792,750	$-282,382
2019	$2,754,515	$2,625,315	$12,232,169	$129,200
2018	$2,678,514	$2,276,775	$10,520,109	$401,739

FRIENDS OF THE NEW YORK TRANSIT MUSEUM