YONKERS DOWNTOWN WATERFRONT DEVELOPMENT CORPORATION

EIN: 133798295 501(c)(3) Community Improvement

YONKERS, NY

Total Revenue
$316
Total Expenses
$22,757
Total Assets
$340,968
Net Assets
$311,296
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
NY
Principal Officer
WILSON KIMBALL
Phone
9143776080
Tax Period
2019-01-01 to 2019-12-31

YONKERS DOWNTOWN WATERFRONT DEVELOPMENT CORPORATION, founded in 1994, is a micro nonprofit in the Community Improvement sector that reported $316 in total revenue in fiscal year 2019. Expenses of $23K exceeded revenue, resulting in a 7102% operating deficit.

Mission

TO ENCOURAGE THE DEVELOPMENT AND RETENTION OF JOBS, BUSINESS AND INDUSTRY, TO FOSTER PROJECTS FOR COMMERCIAL, RETAIL, AND RESIDENTIAL USES & JOBS AND TO DEVELOP THE CITY OF YONKERS DOWNTOWN WATERFRONT AREA.

Program Service Accomplishments

Program 1
Expenses: $5,157

DURING THE 2019 FISCAL YEAR, THE MAIN OBJECTIVES OF THE YONKERS DOWNTOWN WATERFRONT DEVELOPMENT CORPORATION (THE "CORPORATION'') WERE WINDING DOWN ITS BUSINESS, PROCEEDING WLTH ITS DISSOLUTION, AND...

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DURING THE 2019 FISCAL YEAR, THE MAIN OBJECTIVES OF THE YONKERS DOWNTOWN WATERFRONT DEVELOPMENT CORPORATION (THE "CORPORATION'') WERE WINDING DOWN ITS BUSINESS, PROCEEDING WLTH ITS DISSOLUTION, AND PERFORMING ROUTINE AND REQUIRED BUSINESS OPERATIONS.TO THIS END, THE CORPORATION DISPOSED OF ITS LAST REMAINING REAL PROPERTY ASSET, 60 BUENA VISTA AVE (1-511-30), PASSED RESOLUTIONS IN FURTHERANCE OF DISSOLUTION OF ITS CORPORATE STATUS, SUBMITTED, AND CONTINUED BASIC OPERATIONS, SUCH AS RETAINING COUNSEL.

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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 (2019)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $316
Other Revenue $0
TOTAL REVENUE $316

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $5,157
Other Expenses $22,757
TOTAL EXPENSES $22,757

Year-over-Year Comparison

2019 2018 Change
Revenue $316 N/A N/A
Expenses $22,757 N/A N/A
Net Income $-22,441 $0 N/A
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

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
7

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
4
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MAYOR MIKE SPANO CHAIR 1.00
Officer Director
$0 $0 $0
JIM CAVANAUGH DEPUTY MAYOR 0.50
Officer Director
$0 $0 $0
JOHN LISZEWSKI TREASURER 1.00
Officer Director
$0 $0 $0
JERROLD GOLDMAN BOARD MEMBER 0.50
Director
$0 $0 $0
WILLIAM MASCETTA BOARD MEMBER 0.50
Director
$0 $0 $0
RONALD SCHUTTE BOARD MEMBER 0.50
Director
$0 $0 $0
BOB WALTERS BOARD MEMBER 0.50
Director
$0 $0 $0
WILSON KIMBALL EXECUTIVE DIRECTOR 0.50
Officer
$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
2019 $316 $22,757 $340,968 $-22,441
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