MANHATTAN AND BRONX SURFACE TRANSIT OPERATING AUTHORITY

EIN: 131961750 501(c)(3)

NEW YORK, NY

Total Revenue
$736,105,241
Total Expenses
$1,730,569,938
Total Assets
$1,399,766,819
Net Assets
$-1,094,817,614
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
NY
Principal Officer
WILLIAM VAZOULAS
Phone
6469385872
Tax Period
2024-01-01 to 2024-12-31

MANHATTAN AND BRONX SURFACE TRANSIT OPERATING AUTHORITY, founded in 1983, is a major nonprofit that reported $736.1M in total revenue in fiscal year 2024. Expenses of $1.7B exceeded revenue, resulting in a 135% operating deficit.

Mission

Provide Public Transporation in New York City boroughs of Manhattan and the Bronx

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $465,782,000
Program Service Revenue $270,323,241
Investment Income $0
Other Revenue $0
TOTAL REVENUE $736,105,241

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,434,589,160
Fundraising Expenses $0
Program Expenses $1,290,681,356
Other Expenses $295,980,778
TOTAL EXPENSES $1,730,569,938

Year-over-Year Comparison

2024 2023 Change
Revenue $736,105,241 $736,953,371 0.0%
Expenses $1,730,569,938 $1,819,870,926 0.0%
Net Income $-994,464,697 $-1,082,917,555 -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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Governance

Voting Members
19
Independent Members
19
Employees
8788
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
1
$0
Total Directors
20
$0
Key Employees
6
$1,507,085
Highest Compensated
6
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK SALVATO SR VICE PRESIDENT 040.00
Key Emp Highest
$337,467 $0 $337,467
SAMUEL SCHAFFNER SR VICE PRESIDENT 040.00
Key Emp Highest
$305,679 $0 $305,679
THOMAS HANLEY VICE PRESIDENT 040.00
Key Emp Highest
$293,787 $0 $293,787
FRANK ANNICARO VICE PRESIDENT 040.00
Key Emp Highest
$287,613 $0 $287,613
SOFIA GEORGIADIS VICE PRESIDENT 040.00
Key Emp Highest
$282,539 $0 $282,539
ANDEW ALBERT BOARD OF DIRECTOR N/A
Director
$0 $0 $0
GERARD BRINGMANN BOARD OF DIRECTOR N/A
Director
$0 $0 $0
SAMUEL CHU BOARD OF DIRECTOR N/A
Director
$0 $0 $0
MICHAEL FLEISCHER BOARD OF DIRECTOR N/A
Director
$0 $0 $0
DANIEL GARODNICK BOARD OF DIRECTOR N/A
Director
$0 $0 $0
RANDOLPH GLUCKSMAN BOARD OF DIRECTOR N/A
Director
$0 $0 $0
MARC HERBST BOARD OF DIRECTOR N/A
Director
$0 $0 $0
DAVID R JONES BOARD OF DIRECTOR N/A
Director
$0 $0 $0
CHRISTOPHER LEATHERS BOARD OF DIRECTOR N/A
Director
$0 $0 $0
BLANCA P LOPEZ BOARD OF DIRECTOR N/A
Director
$0 $0 $0
DAVID S MACK BOARD OF DIRECTOR N/A
Director
$0 $0 $0
HAEDA M MIHALTSES BOARD OF DIRECTOR N/A
Director
$0 $0 $0
MELVA M MILLER BOARD OF DIRECTOR N/A
Director
$0 $0 $0
JAMES O'DONNELL BOARD OF DIRECTOR N/A
Director
$0 $0 $0
JOHN-ROSS RIZZO BOARD OF DIRECTOR N/A
Director
$0 $0 $0
JOHN SAMUELSON BOARD OF DIRECTOR N/A
Director
$0 $0 $0
LISA SORIN BOARD OF DIRECTOR N/A
Director
$0 $0 $0
MIDORI VALDIVIA BOARD OF DIRECTOR N/A
Director
$0 $0 $0
EDWARD VALENTE BOARD OF DIRECTOR N/A
Director
$0 $0 $0
NEAL ZUCKERMAN BOARD OF DIRECTOR N/A
Director
$0 $0 $0
JANNO LEIBER CEO CHAIRMAN 040.00
Officer Key Emp Highest
$0 $0 $0
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 $736,105,241 $1,730,569,938 $1,399,766,819 $-994,464,697
2023 $736,953,371 $1,819,870,926 $1,402,807,193 $-1,082,917,555
2022 $830,723,073 $1,594,979,334 $964,166,944 $-764,256,261
2021 $479,993,180 $1,583,553,493 $878,462,453 $-1,103,560,313
2020 $558,511,422 $1,464,961,478 $737,379,301 $-906,450,056
2019 $964,112,109 $1,545,378,301 $1,458,815,791 $-581,266,192
2018 $954,963,940 $1,551,184,238 $1,564,443,447 $-596,220,298
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