Flushing Meadows Corona Park Improvement Fund Inc

EIN: 134093706 501(c)(3) Recreation & Sports

New York, NY

Total Revenue
$418,177
Total Expenses
$574,383
Total Assets
$8,551,619
Net Assets
$8,543,869
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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NY
Phone
2126698947
Tax Period
2024-07-01 to 2025-06-30

Flushing Meadows Corona Park Improvement Fund Inc, founded in 1998, is a small nonprofit in the Recreation & Sports sector that reported $418K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $574K exceeded revenue, resulting in a 37% operating deficit.

Mission

The fund was established for the exclusive charitable and public purpose of benefiting, improving and enhancing Flushing Meadows Corona Park (the Park) in Queens, New York and for the improvement and development of the Park.

Program Service Accomplishments

Program 1
Expenses: $290,000

SUMMER STAGE CONCERT - The Organization sponsored and funded a free summer cultural concert series held at Flushing Meadows Corona Park, providing accessible arts and cultural programming to the...

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SUMMER STAGE CONCERT - The Organization sponsored and funded a free summer cultural concert series held at Flushing Meadows Corona Park, providing accessible arts and cultural programming to the surrounding community. The program featured live performances, including music and entertainment, and was designed to promote community engagement, cultural enrichment, and public use of the Park. The concerts were open to the general public at no cost, serving residents of Queens and visitors from across New York City. The program supports the Organizations mission to enhance the Park as a vibrant public space.

Program 2
Expenses: $246,633

Restroom trailers and repairs in the Park - The Organization funded the installation, maintenance, and operation of restroom trailers and supported repairs and improvements to park infrastructure...

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Restroom trailers and repairs in the Park - The Organization funded the installation, maintenance, and operation of restroom trailers and supported repairs and improvements to park infrastructure within Flushing Meadows Corona Park. These efforts enhanced sanitation, accessibility, and the overall visitor experience, particularly during high-traffic events and peak usage periods. The program contributes to the safety, cleanliness, and usability of the Park for the public, consistent with the Organizations charitable purpose of improving and maintaining public park facilities.

Program 3
Expenses: $30,000

HALLOWEEN EVENT - The Organization sponsored an annual Halloween event in Flushing Meadows Corona Park to provide free, family-friendly recreational programming for the community. The event included...

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HALLOWEEN EVENT - The Organization sponsored an annual Halloween event in Flushing Meadows Corona Park to provide free, family-friendly recreational programming for the community. The event included activities such as entertainment, seasonal programming, and community engagement initiatives designed to encourage public participation and promote use of the Park. The program primarily served local residents and families and supports the Organizations mission of enhancing the Park as a welcoming and inclusive community resource.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $418,177
Other Revenue $0
TOTAL REVENUE $418,177

Expense Breakdown

Grants Paid $566,633
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $566,633
Other Expenses $7,750
TOTAL EXPENSES $574,383

Year-over-Year Comparison

2024 2023 Change
Revenue $418,177 $451,361 -0.1%
Expenses $574,383 $142,750 +3.0%
Net Income $-156,206 $308,611 -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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Governance

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

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
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Alessandro Olivieri Secretary 3.00
Director
$0 $0 $0
Allan Swisher Vice ChairPresident 3.00
Director
$0 $0 $0
Lynne K Fleischman Member 0.00
Director
$0 $0 $0
Christopher Holmes Member 0.00
Director
$0 $0 $0
Phil Ballman Member 0.00
Director
$0 $0 $0
Laura Shepard Member 0.00
Director
$0 $0 $0
Irak Cehonski Member 0.00
Director
$0 $0 $0
Rupali Paranandi Member 0.00
Director
$0 $0 $0
Justina Rivera Alternate Director 3.00
Director
$0 $0 $0
Donovan Richards Chairperson 3.00
Officer Director
$0 $0 $0
Susan M Donoguhe President 3.00
Officer Director
$0 $0 $0
Brad Lander Comptroller NYC 3.00
Officer Director
$0 $0 $0
Jacqueline Thompson Treasurer 3.00
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
2025 $418,177 $574,383 $8,551,619 $-156,206
2024 $451,361 $142,750 $8,707,825 $308,611
2023 $306,457 $7,750 $8,400,035 $298,707
2022 $21,430 $121,750 $8,099,523 $-100,320
2022 $21,430 $121,750 $8,099,523 $-100,320
2021 $29,592 $136,250 $8,199,163 $-106,658
2020 $160,680 $157,000 $8,325,361 $3,680
2019 $84,101 $196,870 $8,316,714 $-112,769
2018 $28,093 $51,895 $8,301,591 $-23,802
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