PROJECT FOR PUBLIC SPACES 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

1975

Legal Domicile

Principal Officer

KELLY VEREL

Phone

2126205660

Tax Period

2024-01-01 to 2024-12-31

PROJECT FOR PUBLIC SPACES INC, founded in 1975, is a community nonprofit in the Environment sector that reported $2.9M in total revenue in fiscal year 2024. Revenue surged 74% from the prior year, signaling strong growth momentum. Expenses of $2.7M left a modest 6% surplus.

Mission

PROJECT FOR PUBLIC SPACES, INC. IS A NOT FOR PROFIT ORGANIZATION DEDICATED TO HELPING PEOPLE CREATE AND SUSTAIN PUBLIC SPACES THAT BUILD STRONGER COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $1,868,690 Revenue: $656,478

PLACEMAKING PROGRAM:THE PLACEMAKING PROGRAM AIMS TO CENTER THE NEEDS OF LOCAL RESIDENTS IN THE CREATION AND IMPROVEMENT PUBLIC SPACES. IN 2024, OUR TEAM COMPLETED SEVERAL TECHNICAL ASSISTANCE...

PLACEMAKING PROGRAM:THE PLACEMAKING PROGRAM AIMS TO CENTER THE NEEDS OF LOCAL RESIDENTS IN THE CREATION AND IMPROVEMENT PUBLIC SPACES. IN 2024, OUR TEAM COMPLETED SEVERAL TECHNICAL ASSISTANCE PROJECTS ACROSS THE USA, INCLUDING, AS PART OF OUR COMMUNITY PLACEMAKING GRANTS, WORKING WITH 14 PUBLIC SPACE STEWARDS TO IMPROVE A PUBLIC SPACE IN THEIR COMMUNITY BY UPLIFTING LOCAL VOICES IN THEIR DESIGN, PROGRAMMING, AND MANAGEMENT. THE 4TH INTERNATIONAL PLACEMAKING WEEK IN BALTIMORE, CO-HOSTED WITH THE NEIGHBORHOOD DESIGN CENTER, BROUGHT TOGETHER OVER 600 ATTENDEES FROM 11 COUNTRIES AND 195 CITIES IN JUNE. 29 PLACEMAKING ROUNDUP NEWSLETTERS WERE PUBLISHED AND 300 PEOPLE ATTENDED OUR PLACEMAKING TRAININGS.

Program 2

Expenses: $219,153 Revenue: $157,253

MARKET CITIES:THE MARKET CITIES PROGRAM STRENGTHENS THE REGIONAL SYSTEMS BEHIND THE MARKET STALLS, CONNECTING AND SUPPORTING A DIVERSE SET OF STAKEHOLDERS THROUGH RESEARCH, SPECIALIZED TRAINING, AND A NETWORK OF PEERS. IN 2024, THE TEAM WORKED ON PROJECTS WITH GROWNYC GREENMARKET AND OMAHA, NE, AND THE MARKET CITIES NETWORK, A FORUM THAT BRINGS TOGETHER MARKET LEADERS FROM AROUND THE WORLD, CELEBRATED ITS FIRST ANNIVERSARY, GROWING BY 46% TO INCLUDE 50 MEMBER ORGANIZATIONS WORLDWIDE. 26 BIWEEKLY BAZAAR NEWSLETTERS WERE PUBLISHED AND 43 PEOPLE ATTENDED THE HOW TO CREATE SUCCESSFUL MARKETS TRAINING.

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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 $2,048,470

Program Service Revenue $796,877

Investment Income $7,558

Other Revenue $16,854

TOTAL REVENUE $2,869,759

Expense Breakdown

Grants Paid $740,000

Salaries & Benefits $1,366,882

Fundraising Expenses $118,798

Program Expenses $2,087,843

Other Expenses $591,838

TOTAL EXPENSES $2,698,720

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,869,759	$1,652,231	+0.7%
Expenses	$2,698,720	$2,000,674	+0.3%
Net Income	$171,039	$-348,443	-1.5%

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

$283,575

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BURNEY	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ELLEN ABRAHAM	TREASURER	1.00	Officer Director	$0	$0	$0
RICARDO BYRD	SECRETARY	1.00	Officer Director	$0	$0	$0
REENA AGARWAL	BOARD MEMBER	1.00	Director	$0	$0	$0
LISA KNIP	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID KOREN	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIDGET MARQUIS	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD PALMER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN LOW-BEER	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIA KRAGER	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID PARK	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNIFER VICKERS LEFT 1224	BOARD CHAIR	1.00	Director	$0	$0	$0
JON ZADRODZKY LEFT 424	BOARD CHAIR	1.00	Director	$0	$0	$0
KELLY VEREL	CO-EXECUTIVE DIRECTOR	40.00	Officer	$128,524	$31,166	$159,690
NATHAN STORRING	CO-EXECUTIVE DIRECTOR	40.00	Officer	$122,885	$1,000	$123,885
ELENA MADISON	DIRECTOR OF PROJECTS	40.00	Highest	$103,455	$1,000	$104,455

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	$2,869,759	$2,698,720	$1,893,784	$171,039
2023	$1,652,231	$2,000,674	$1,385,223	$-348,443
2022	$2,778,853	$2,083,156	$1,628,214	$695,697
2021	$2,895,436	$2,208,034	$985,831	$687,402
2020	$2,512,686	$3,595,380	$648,849	$-1,082,694
2019	$4,193,084	$4,925,130	$1,697,207	$-732,046
2018	$5,079,117	$5,189,519	$2,548,474	$-110,402