WATERFRONT ALLIANCE INC

EIN: 134355067 501(c)(3) Community Improvement

NEW YORK, NY

Total Revenue
$3,485,195
Total Expenses
$2,353,327
Total Assets
$3,044,989
Net Assets
$2,599,429
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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NY
Principal Officer
CORTNEY WORRALL
Phone
2129359831
Tax Period
2023-01-01 to 2023-12-31

WATERFRONT ALLIANCE INC, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $3.5M in total revenue in fiscal year 2023. Revenue surged 53% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 32% operating margin.

Mission

SINCE 2007, THE WATERFRONT ALLIANCE HAS GROWN INTO A COALITION OF MORE THAN 1,100 PARTNER ORGANIZATIONS WORKING TOGETHER TO BUILD, TRANSFORM, REVITALIZE, AND PROTECT ACCESSIBLE WATERFRONTS FOR ALL COMMUNITIES. WITH MORE THAN 1,100 ALLIANCE PARTNERS, THE ORGANIZATION SERVES AS THE NEW YORK-NEW JERSEY REGION'S PREEMINENT ADVOCATE FOR COASTAL RESILIENCE AND ADAPTATION, EQUITABLE WATERFRONT ACCESS, A THRIVING MARITIME ECONOMY, AND CLIMATE EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $1,770,436 Revenue: $145,979

WEDG (WATERFRONT EDGE DESIGN GUIDELINES): - THE NEXT VERSION OF WEDG IS LAUNCHED AND COVERS FRESHWATER SYSTEMS, FORMALLY ESTABLISHING WEDG AS A FULLY NATIONAL STANDARD FOR WATERFRONT DESIGN. -...

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WEDG (WATERFRONT EDGE DESIGN GUIDELINES): - THE NEXT VERSION OF WEDG IS LAUNCHED AND COVERS FRESHWATER SYSTEMS, FORMALLY ESTABLISHING WEDG AS A FULLY NATIONAL STANDARD FOR WATERFRONT DESIGN. - OFFSHORE WIND DEVELOPERS IN NEW YORK AND NEW JERSEY SIGN ON FOR WEDG COMMITMENTS IN THEIR BIDS FOR OFFSHORE WIND PROJECTS. - THE FIRST-EVER COHORT OF HIGH SCHOOL STUDENTS, FROM THE NEW YORK HARBOR SCHOOL, COMPLETE THE WEDG PROFESSIONALS COURSE, PREPARING THEM TO PURSUE EDUCATION AND CAREERS IN CLIMATE RESILIENT DESIGN. - JOSE MARTI PARK IN MIAMI BECOMES THE FIRST PROJECT IN FLORIDA AND TWELFTH NATIONALLY TO RECEIVE WEDG (WATERFRONT EDGE DESIGN GUIDELINES) VERIFICATIONTHE GOLD STANDARD IN WATERFRONT DESIGN. - IN MAY 2023, WATERFRONT ALLIANCE'S WEDG PROGRAM IS ACCEPTED BY GRESB, THE NATIONAL ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) BENCHMARK FOR REAL ESTATE ASSETS, FOR FULL POINTS AS A COMPONENT OF THEIR CERTIFICATION. WATERFRONT EDUCATION AND ACCESS: - WE BRING STEM-BASED CLIMATE AND WATERFRONT EDUCATION TO MORE THAN 1,200 STUDENTS AND 36 CLASSROOMS ACROSS NEW YORK CITY THROUGH ESTUARY EXPLORERS. - WITH MORE THAN 180 COMMUNITY VOLUNTEERS, WE CLEANUP 3,600 POUNDS OF TRASH FROM WATERWAYS AND COASTLINES THROUGH OUR COASTAL CLEAN-UP PROGRAM. RISE TO RESILIENCE COALITION ADVOCACY RESULTS: -WITH THE RISE TO RESILIENCE COALITION, SPEARHEADED BY THE WATERFRONT ALLIANCE, WE CAMPAIGN THE NEW YORK STATE LEGISLATURE AND THEY PASS COMPREHENSIVE FLOOD DISCLOSURE FOR ALL HOME SALES IN THE STATE OF NEW YORK. THIS NOW ENSURES ALL HOME BUYERS AND RENTERS IN NEW YORK STATE WILL BE FULLY INFORMED ABOUT THE RISKS OF FLOODING. - WITH THE RISE TO RESILIENCE COALITION, WE CAMPAIGN THE NEW JERSEY STATE LEGISLATURE, WHICH UNANIMOUSLY PASSES SATE-WIDE FLOOD RISK LEGISLATION, ENSURING NEW JERSEY HOME BUYERS AND RENTERS ARE FULLY INFORMED ABOUT THE RISKS OF FLOODING. - WITH THE RISE TO RESILIENCE COALITION, WE SPEARHEAD AND ARE JOINED BY 46 ORGANIZATIONS CALLING FOR GREATER FOCUS ON ENVIRONMENTAL JUSTICE, NATURE-BASED SOLUTIONS, AND MORE PUBLIC PARTICIPATION OPPORTUNITIES IN NEW YORK-NEW JERSEY HARBOR AND TRIBUTARIES STUDYA PLAN TO PROTECT THE ENTIRE REGION FROM THE NEXT MAJOR HURRICANE. CLIMATE INFORMED COMMUNITIES: - WATERFRONT ALLIANCE LAUNCHES CLIMATE INFORMED COMMUNITIES, A NEW COMMUNITY ORGANIZING BASED PROGRAM TO BRING CLIMATE PREPAREDNESS RESOURCES AND INFRASTRUCTURE PLANNING PROCESSES TO NEW YORK CITY COMMUNITIES. - WE LAUNCH A CLIMATE HAZARDS STUDY OF FLUSHING MEADOWS CORONA PARK IN QUEENS, NY, FUNDED BY THE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION (NOAA). - WE PUBLISH THE WATERFRONT ALLIANCE CLIMATE HAZARD RESOURCE GUIDE, A CENTRALIZED DATABASE OF ALL AVAILABLE RESOURCES RELATING TO CLIMATE HAZARDS IN THE NEW YORK AND NEW JERSEY REGION. RESILIENCE / OTHER: - FOLLOWING YEARS OF ADVOCACY BY WATERFRONT ALLIANCE AND OUR PARTNERS, THE NEW YORK STATE DEPARTMENT OF ENVIRONMENTAL CONSERVATION ISSUES A DIRECTIVE TO THE U.S. ARMY CORPS OF ENGINEERS THATWOULD RESULT IN BETTER PROTECTIONS FOR MILLIONS OF NEW YORK AND NEW JERSEY RESIDENTS. - WE SIGN THE FOSSIL FUEL NON-PROLIFERATION TREATY, AN EFFORT TO KEEP GLOBAL WARMING TO BELOW 1.5C. - THE NEW YORK CLIMATE EXCHANGE ON GOVERNOR'S ISLAND SELECTS WATERFRONT ALLIANCE AS AN EARLY PARTNER AND LEADERSHIP ADVISOR. - MAYOR ADAMS APPOINTS WATERFRONT ALLIANCE PRESIDENT AND CEO CORTNEY KOENIG WORRALL AS ONE OF THE 26 MEMBERS OF THE NEW YORK CITY SUSTAINABILITY ADVISORY BOARD TO GUIDE THE CITY'S LONG-TERM RESILIENCE AND SUSTAINABILITY GOALS. - WATERFRONT ALLIANCE DIRECTOR OF PROGRAMS AND CLIMATE INITIATIVES, FURHANA HUSANI, RECEIVES THE PRESTIGIOUS WOMEN OF THE MONTH AWARD FROM THE WOMEN OF COLOR ADVANCING PEACE, SECURITY, AND CONFLICT TRANSFORMATION.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,284,815
Program Service Revenue $145,979
Investment Income $497
Other Revenue $53,904
TOTAL REVENUE $3,485,195

Expense Breakdown

Grants Paid $34,802
Salaries & Benefits $1,299,258
Fundraising Expenses $449,243
Program Expenses $1,770,436
Other Expenses $1,019,267
TOTAL EXPENSES $2,353,327

Year-over-Year Comparison

2023 2022 Change
Revenue $3,485,195 $2,284,710 +0.5%
Expenses $2,353,327 $2,023,517 +0.2%
Net Income $1,131,868 $261,193 +3.3%
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
22
Independent Members
21
Employees
16
Volunteers
21

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
6
$244,313
Total Directors
22
$244,313
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CORTNEY WORRALL PRESIDENT AND CEO 40.00
Officer Director
$222,800 $21,513 $244,313
CHRISTOPHER O WARD CHAIR 2.00
Officer Director
$0 $0 $0
COLONEL RET JOHN R BOUL II VICE CHAIR 2.00
Officer Director
$0 $0 $0
KATHY ROBB VICE CHAIR 2.00
Officer Director
$0 $0 $0
REAR ADMIRAL RET RICK LARRABEE TREASURER 2.00
Officer Director
$0 $0 $0
MATTHEW S WASHINGTON SECRETARY 2.00
Officer Director
$0 $0 $0
ROBERT W BALDER DIRECTOR 1.00
Director
$0 $0 $0
KENT L BARWICK DIRECTOR 1.00
Director
$0 $0 $0
PIPPA BRASHEAR DIRECTOR 1.00
Director
$0 $0 $0
DIANNE DILLON-RIDGLEY DIRECTOR 1.00
Director
$0 $0 $0
PETER EBRIGHT DIRECTOR 1.00
Director
$0 $0 $0
HILLARY LANE DIRECTOR 1.00
Director
$0 $0 $0
PETER MADONIA DIRECTOR 1.00
Director
$0 $0 $0
EUGENE MONTOYA DIRECTOR 1.00
Director
$0 $0 $0
CHUCK NICE DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL OKEEFFE DIRECTOR 1.00
Director
$0 $0 $0
PAMELA PETTYJOHN DIRECTOR 1.00
Director
$0 $0 $0
JULIE PULLEN DIRECTOR 1.00
Director
$0 $0 $0
CONSTANTINE GUS SANOULIS DIRECTOR 1.00
Director
$0 $0 $0
PEGGY SHEPARD DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL STAMATIS DIRECTOR 1.00
Director
$0 $0 $0
RICHARD S WEEKS DIRECTOR 1.00
Director
$0 $0 $0
KATE MCLETCHIE-SHELDON CHIEF OPERATING OFFICER 40.00
Highest
$137,430 $10,735 $148,165
DAVID EZER DIRECTOR OF EVENTS 40.00
Highest
$101,244 $14,757 $116,001
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 No data No data No data No data
2023 $3,485,195 $2,353,327 $3,044,989 $1,131,868
2022 $2,284,710 $2,023,517 $1,896,176 $261,193
2022 $2,284,710 $2,023,517 $1,896,176 $261,193
2021 $2,187,207 $1,570,469 $1,397,130 $616,738
2020 $1,364,400 $1,585,066 $857,481 $-220,666
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