RENT STABLIZATION ASSOCIATION OF N… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1970

Legal Domicile

Principal Officer

JOSEPH STRASBURG

Phone

2122149277

Tax Period

2023-01-01 to 2023-12-31

RENT STABLIZATION ASSOCIATION OF NYC INC, founded in 1970, is a community nonprofit that reported $8.1M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $9.0M exceeded revenue, resulting in a 11% operating deficit.

Mission

RSA PROVIDES SERVICES TO LANDLORDS INCLUDING COMPUTERIZED RENT REGISTRATION OF RENT STABILIZED APARTMENTS WITH THE NEW YORK STATE DIVISION OF HOUSING AND COMMUNITY RENEWAL IN COMPLIANCE WITH NYS & NYC LAWS & REGULATIONS.

Program Service Accomplishments

Program 1

MEMBERSHIP DUES- MEMBERSHIP INCOME IS BASED ON A FEE OF $7.00 PER APARTMENT/UNIT. DUES ARE USED FOR PROVIDING INFORMATION REGARDING RENT STABILIZED APARTMENTS VIA NEWSLETTER, EMAIL & OTHER...

MEMBERSHIP DUES- MEMBERSHIP INCOME IS BASED ON A FEE OF $7.00 PER APARTMENT/UNIT. DUES ARE USED FOR PROVIDING INFORMATION REGARDING RENT STABILIZED APARTMENTS VIA NEWSLETTER, EMAIL & OTHER PUBLICATIONS. THE ORGANIZATION IS ACTIVE IN REPRESENTING THE INTERESTS OF OWNERS BEFORE THE STATE AND LOCAL GOVERNMENTS. RSA SUPPLIES DATA TO THE RENT GUIDELINES BOARD IN ITS DELIBERATIONS WITH REGARD TO RENT INCREASES FOR RENT STABILIZED APARTMENTS, AND HOLDS DISCUSSIONS AND MEETINGS WITH GOVERNMENT ON TECHNICAL CHANGES AND BUILDING REGULATIONS INVOLVED WITH MEMBERS' BUILDINGS.

Program 2

SAFETY RELATED SERVICES-WINDOW GUARD/LEAD PAINT SERVICES: THESE SERVICES CONSISTS OF MAILINGS TO OVER 400,000 TENANTS SO THAT REAL ESTATE OWNERS AND MANAGEMENT AGENTS CAN DETERMINE IF WINDOW GUARDS NEED TO BE INSTALLED IN ACCORDANCE WITH NEW YORK CITY LAW. FIRE SAFETY SERVICE: ON AN ANNUAL BASIS, ALL OWNERS OF MULTIPLE DWELLINGS MUST COMPLY WITH THE NEW YORK CITY FIRE DEPARTMENT REGULATIONS, REQUIRING OWNERS TO PREPARE AND DISTRIBUTE A FIRE SAFETY PLAN CONTAINING FIRE SAFETY AND EVACUATION PROCEDURES.ADDITIONALLY, IT IS REQUIRED FOR OWNERS TO DISTRIBUTE AND POST A FIRE SAFETY NOTICE INFORMING RESIDENTS OF PROCEDURES TO BE FOLLOWED IN THE EVENT OF A FIRE IN THE BUILDING. RSA FIRE SAFETY SERVICES PREPARES AND DISTRIBUTES ALL REQUIRED INFORMATION, INCLUDING:-DEVELOPMENT OF A CUSTOMIZED FIRE SAFETY PLAN FOR EACH BUILDING-MAILING FIRE SAFETY PLAN TO ALL TENANTS AND BUILDING EMPLOYEES -FURNISHING APPROPRIATE FIRE SAFETY NOTICES (LONG-LASTING SELF ADHESIVE VINYL) TO BE POSTED IN INDIVIDUAL APARTMENTS-PROVIDING PROOF OF MAILING AND MEETING FOUR YEAR RECORD REQUIREMENTS

Program 3

LEGAL FUND- THE LEGAL FUND CONSISTS OF VOLUNTARY CONTRIBUTIONS RESTRICTED TO MATTERS RELATED TO REGULATIONS AND LAWS ENACTED ON FEDERAL, STATE AND LOCAL LEVELS, AND TO ASSIST MEMBERS IN INITIATING...

LEGAL FUND- THE LEGAL FUND CONSISTS OF VOLUNTARY CONTRIBUTIONS RESTRICTED TO MATTERS RELATED TO REGULATIONS AND LAWS ENACTED ON FEDERAL, STATE AND LOCAL LEVELS, AND TO ASSIST MEMBERS IN INITIATING AND APPEALING LITIGATION CLAIMS. SUCH REVENUE IS RECOGNIZED AT THE TIME WHEN CONTRIBUTIONS ARE MADE.

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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 $0

Program Service Revenue $5,539,404

Investment Income $2,478,126

Other Revenue $51,955

TOTAL REVENUE $8,069,485

Expense Breakdown

Grants Paid $757,116

Salaries & Benefits $3,846,567

Fundraising Expenses $0

Other Expenses $4,389,674

TOTAL EXPENSES $8,993,357

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,069,485	$7,055,322	+0.1%
Expenses	$8,993,357	$9,146,588	0.0%
Net Income	$-923,872	$-2,091,266	-0.6%

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

$1,503,376

Total Directors

Key Employees

$284,847

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AARON SIRULNICK	CHAIRMAN	0.10	Officer Director	$0	$0	$0
MICHAEL LAUB	SECRETARY	0.10	Officer Director	$0	$0	$0
LENNARD KATZ	TREASURER	0.10	Officer Director	$0	$0	$0
CHRISTOPHER ATHINEOS	DIRECTOR	0.10	Director	$0	$0	$0
JESSICA BARAN	DIRECTOR	0.10	Director	$0	$0	$0
MICHELLE BENGELSDORF	DIRECTOR	0.10	Director	$0	$0	$0
HELEN DANIELS	DIRECTOR	0.10	Director	$0	$0	$0
MARK ENGEL	DIRECTOR	0.10	Director	$0	$0	$0
MATTHEW ENGEL	DIRECTOR THRU JUN 2023	0.10	Director	$0	$0	$0
MARIO GAZTAMBIDE	DIRECTOR THRU JUN 2023	0.10	Director	$0	$0	$0
LAWRENCE GLUCK	DIRECTOR THRU SEPT 2023	0.10	Director	$0	$0	$0
ALEXANDER GOLDSTEIN	DIRECTOR	0.10	Director	$0	$0	$0
BRETT GREENBERG	DIRECTOR	0.10	Director	$0	$0	$0
ANDREW HOFFMAN	DIRECTOR THRU JUN 2023	0.10	Director	$0	$0	$0
GARY JACOB	DIRECTOR	0.10	Director	$0	$0	$0
MICHAEL KERR	DIRECTOR	0.10	Director	$0	$0	$0
JEFFREY MANOCHERIAN	DIRECTOR	0.10	Director	$0	$0	$0
ROGER MELZER	DIRECTOR	0.10	Director	$0	$0	$0
HOWARD MILSTEIN	DIRECTOR	0.10	Director	$0	$0	$0
MICKEY NAPOLITANO	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT NELSON	DIRECTOR	0.10	Director	$0	$0	$0
ADAM PARKOFF	DIRECTOR	0.10	Director	$0	$0	$0
OSCAR PEREZ	DIRECTOR	0.10	Director	$0	$0	$0
FRANCINE SCHIFF	DIRECTOR	0.10	Director	$0	$0	$0
MATTHEW SCHMELZER	DIRECTOR THRU JUN 2023	0.10	Director	$0	$0	$0
WILLIAM SCHUR	DIRECTOR	0.10	Director	$0	$0	$0
JIMMY SILBER	DIRECTOR	0.10	Director	$0	$0	$0
JOANNA WONG	DIRECTOR	0.10	Director	$0	$0	$0
JOSEPH ZITOLO	DIRECTOR	0.10	Director	$0	$0	$0
LAURIE ZUCKER	DIRECTOR	0.10	Director	$0	$0	$0
JOSEPH STRASBURG	PRESIDENT	35.00	Officer	$1,038,951	$96,208	$1,135,159
FRANK RICCI	EXECUTIVE VICE PRESIDENT	35.00	Officer	$315,973	$52,244	$368,217
OLGA SOMERAS	GENERAL COUNSEL	35.00	Key Emp	$252,391	$32,456	$284,847
MARIA AGUAS	CONTROLLER	35.00	Highest	$199,067	$32,688	$231,755
MELODY LEON	ASST. CONTROLLER	35.00	Highest	$178,348	$33,988	$212,336
MICHAEL TOBMAN	MARKETING DIRECTOR	35.00	Highest	$144,701	$40,039	$184,740
KELLY FARRELL	POLICY ANALYST	35.00	Highest	$111,853	$41,143	$152,996

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	$8,069,485	$8,993,357	$59,870,343	$-923,872
2022	$7,055,322	$9,146,588	$57,864,852	$-2,091,266
2021	$9,745,937	$8,439,773	$64,799,880	$1,306,164
2020	$7,362,299	$8,715,227	$61,090,888	$-1,352,928
2019	$8,423,937	$9,094,715	$58,781,639	$-670,778
2018	$8,867,502	$7,724,556	$54,355,984	$1,142,946

RENT STABLIZATION ASSOCIATION OF NYC INC