DOWNTOWN NEW ROCHELLE BUSINESS IMP… - 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

1999

Legal Domicile

Principal Officer

MARC M JEROME

Phone

9146542063

Tax Period

2024-01-01 to 2024-12-31

DOWNTOWN NEW ROCHELLE BUSINESS IMPROVEMENT DISTRICT MANAGEMENT, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $693K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $651K left a modest 6% surplus.

Mission

TO DEVELOP THE BUSINESS DISTRICT INTO A VIBRANT, THRIVING AND SUSTAINABLE DOWNTOWN.

Program Service Accomplishments

Program 1

Expenses: $527,648 Revenue: $693,283

PROGRAM EXPENSES INCLUDE FUNDING TO CLEAN AND GREEN THE DISTRICTS SIDEWALK'S, CURBS AND PUBLIC SPACES, SUPPORT, PROMOTE, DEVELOP, AND NURTURE LOCAL BUSINESSES, PROPERTY OWNERS AND RESIDENTS IN NEW...

PROGRAM EXPENSES INCLUDE FUNDING TO CLEAN AND GREEN THE DISTRICTS SIDEWALK'S, CURBS AND PUBLIC SPACES, SUPPORT, PROMOTE, DEVELOP, AND NURTURE LOCAL BUSINESSES, PROPERTY OWNERS AND RESIDENTS IN NEW ROCHELLE'S GROWING CULTURAL, CULINARY, HOSPITALITY AND ARTS/TECHNOLOGY SECTORS DOWNTOWN, COLLABORATING CLOSELY WITH MANY OF THE CITY'S LEADING ORGANIZATIONS.

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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 $0

Program Service Revenue $693,283

Investment Income $0

Other Revenue $0

TOTAL REVENUE $693,283

Expense Breakdown

Grants Paid $120,000

Salaries & Benefits $32,860

Fundraising Expenses $0

Program Expenses $527,648

Other Expenses $497,918

TOTAL EXPENSES $650,778

Year-over-Year Comparison

	2024	2023	Change
Revenue	$693,283	$742,849	-0.1%
Expenses	$650,778	$750,442	-0.1%
Net Income	$42,505	$-7,593	-6.6%

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

$28,535

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARC JEROME	CHAIRMAN	1.00	Officer Director	$0	$0	$0
WILFREDO MELENDEZ	VICE CHAIR	1.00	Officer Director	$0	$0	$0
EDWARD RITTER	TREASURER	1.00	Officer Director	$0	$0	$0
ALBERT TARANTINO	SECRETARY	1.00	Officer Director	$0	$0	$0
SEBASTIAN ALIBERTI	BOARD MEMBER	1.00	Director	$0	$0	$0
GWEN CLAYTON	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN RUCKER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRUCE BERG	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH GRAZIOSE	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES WENDLING	BOARD MEMBER	1.00	Director	$0	$0	$0
RACHEL GREENSPAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES O'TOOLE	BOARD MEMBER	1.00	Director	$0	$0	$0
LOUIS PANICO	BOARD MEMBER	1.00	Director	$0	$0	$0
KAREL LITTMAN	EXECUTIVE DIRECTOR	45.00	Officer	$28,535	$0	$28,535

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	$693,283	$650,778	$462,687	$42,505
2023	$742,849	$750,442	$418,276	$-7,593
2022	$719,519	$816,930	$629,116	$-97,411
2021	$657,863	$600,481	$539,024	$57,382
2020	$648,298	$515,256	$478,365	$133,042
2019	$660,582	$587,085	$343,803	$73,497
2018	$865,753	$773,840	$332,690	$91,913

DOWNTOWN NEW ROCHELLE BUSINESS IMPROVEMENT DISTRICT MANAGEMENT