47TH STREET BUSINESS IMPROVEMENT D… - 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

1997

Legal Domicile

Principal Officer

HARVEY NAGIN

Phone

2123025739

Tax Period

2024-07-01 to 2025-06-30

47TH STREET BUSINESS IMPROVEMENT DISTRICT INC, founded in 1997, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2024. Expenses of $1.3M left a modest 10% surplus.

Mission

THE 47TH STREET BUSINESS IMPROVEMENT DISTRICT WAS FORMED BY THE DIAMOND DISTRICT'S MERCHANTS AND LANDLORDS TO ENHANCE THE ECONOMIC DEVELOPMENT ACTIVITIES OF NEW YORK'S DIAMOND DISTRICT. THE GOAL OF THE 47TH STREET BUSINESS IMPROVEMENT DISTRICT IS TO MAKE THE DIAMOND DISTRICT SAFER, CLEANER AND MORE BEAUTIFUL FOR MERCHANTS AND CONSUMERS WHO WORK AND SHOP IN THE DIAMOND DISTRICT.

Program Service Accomplishments

Program 1

Expenses: $138,742

SANITATION AND STREETSCAPE - MAINTAINING CLEAN STREETS/CURBS, REMOVING GARBAGE AND GRAFFITI, AND IMPROVING THE OVERALL APPEARANCE OF THE DISTRICT THROUGH A COMBINATION OF PROJECTS INCLUDING LIGHTING...

Program 2

Expenses: $964,183 Revenue: $492,422

SECURITY - PROVIDING INCREASED SECURITY THOUGHT A COMBINATION OF NEW CITY POLICE OFFICERS BEING PAID THOUGH THE NEW YORK CITY'S PAID DETAIL UNIT OF THE NYPD AND A CLOSE WORKING RELATIONSHIP WITH THE...

Program 3

Expenses: $116,097 Revenue: $3,500

PROMOTION - PROMOTING NEW YORK CITY ICONIC DIAMOND DISTRICT TO RESIDENTS AND TOURIST THROUGH ADVERTISING AND EVENTS HELD WITHIN THE THE DIAMOND DISTRICT

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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 $45,862

Program Service Revenue $1,395,922

Investment Income $34,205

Other Revenue $0

TOTAL REVENUE $1,475,989

Expense Breakdown

Grants Paid $0

Salaries & Benefits $99,391

Fundraising Expenses $0

Program Expenses $1,219,022

Other Expenses $1,236,021

TOTAL EXPENSES $1,335,412

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,475,989	$1,435,043	+0.0%
Expenses	$1,335,412	$1,319,935	+0.0%
Net Income	$140,577	$115,108	+0.2%

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

Total Directors

Key Employees

$152,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARVEY NAGIN	PRESIDENT	15.00	Officer Director	$0	$0	$0
STEVEN GRAUER	CHAIRMAN	20.00	Officer Director	$0	$0	$0
ADNAN AYDIN	SECRETARY	5.00	Officer Director	$0	$0	$0
YALE ZOLAND	TREASURER	5.00	Officer Director	$0	$0	$0
BEN KRISCHER	DIRECTOR	2.00	Director	$0	$0	$0
BRAD LANDER	DIRECTOR	2.00	Director	$0	$0	$0
BRUNILDA KATSICHTIS	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS IPEK	DIRECTOR	2.00	Director	$0	$0	$0
DENNIS MARLOW	DIRECTOR	2.00	Director	$0	$0	$0
ELLIOT KRISCHER	DIRECTOR	2.00	Director	$0	$0	$0
EMILY BUKUCUYAN	DIRECTOR	2.00	Director	$0	$0	$0
GARY BARNETT	DIRECTOR	2.00	Director	$0	$0	$0
GARY WEINSHANK	DIRECTOR	2.00	Director	$0	$0	$0
ILAN ELISHAYEV	DIRECTOR	2.00	Director	$0	$0	$0
JACK ELO	DIRECTOR	2.00	Director	$0	$0	$0
JAY HOLZER	DIRECTOR	2.00	Director	$0	$0	$0
JOHN MAGZALCIOGLU	DIRECTOR	2.00	Director	$0	$0	$0
JULES FLEISCHER	DIRECTOR	2.00	Director	$0	$0	$0
KEITH POWERS	DIRECTOR	2.00	Director	$0	$0	$0
LINDA ANISHERE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL TOBACK	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL OISTACHER	DIRECTOR	2.00	Director	$0	$0	$0
RONNIE VANDERLINDEN	DIRECTOR	2.00	Director	$0	$0	$0
MARK LEVINE	DIRECTOR	2.00	Director	$0	$0	$0
MAYOR ERIC ADAMS	DIRECTOR	2.00	Director	$0	$0	$0
S DAVID BELSKY	DIRECTOR	2.00	Director	$0	$0	$0
FERTIG AVI	EXECUTIVE DIRECTOR	40.00	Key Emp	$152,000	$0	$152,000

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
2025	$1,475,989	$1,335,412	$932,092	$140,577
2024	$1,435,043	$1,319,935	$786,755	$115,108
2023	$1,406,766	$1,305,169	$671,129	$101,597
2022	$1,395,715	$1,255,714	$549,223	$140,001
2021	$1,308,048	$1,364,148	$433,517	$-56,100
2020	$1,336,659	$1,282,879	$496,218	$53,780
2019	$1,335,214	$1,099,013	$405,383	$236,201
2018	$1,407,902	$1,411,840	$190,071	$-3,938

47TH STREET BUSINESS IMPROVEMENT DISTRICT INC