NEW GARDEN PARK INC (EIN 201727883) - Form 990 Financial Analysis & Trantor Score

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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

2004

Legal Domicile

Principal Officer

CRAIG L BLAIS

Phone

5087555734

Tax Period

2024-01-01 to 2024-12-31

NEW GARDEN PARK INC, founded in 2004, is a community nonprofit in the Community Improvement sector that reported $8.0M in total revenue in fiscal year 2024. Revenue surged 384% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.5M, a strong 19% operating margin.

Mission

TO CARRY OUT AND OPERATE FOR THE BENEFIT OF THE CHARITABLE PURPOSE OF THE WORCESTER BUSINESS DEVELOPMENT CORPORATION (WBDC) AND LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE IN DISTRESSED AREAS THROUGH THE ACQUISTION, HOLDING, OWNING, MAINTENANCE, IMPROVEMENT, LEASE, FINANCE, REFINANCE, SELLING, EXCHANGE OR OTHER DISPOSITION OF ALL OR PART OF ITS PROPERTIES.

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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 $640,549

Program Service Revenue $5,248,942

Investment Income $908,523

Other Revenue $1,192,369

TOTAL REVENUE $7,990,383

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,480,470

Other Expenses $6,489,795

TOTAL EXPENSES $6,489,795

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,990,383	$1,650,371	+3.8%
Expenses	$6,489,795	$1,182,409	+4.5%
Net Income	$1,500,588	$467,962	+2.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG L BLAIS	PRESIDENT &	20.00	Officer Director	$0	$0	$0
ROBERT HENNIGAN	CHAIR	1.00	Officer Director	$0	$0	$0
KATHERINE BADGIS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KAREN DUFFY	INTERIM TREA	1.00	Officer Director	$0	$0	$0
RICHARD MAZZOCCHI	DIRECTOR	1.00	Director	$0	$0	$0
EMMANUEL LARBI	DIRECTOR	1.00	Director	$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
2024	$7,990,383	$6,489,795	$48,673,301	$1,500,588
2023	$1,650,371	$1,182,409	$42,233,185	$467,962
2022	$1,415,061	$869,996	$37,046,113	$545,065
2021	$21,019,526	$2,580,351	$35,860,729	$18,439,175
2020	$8,241,954	$4,414,789	$32,374,649	$3,827,165
2019	$15,620,405	$13,620,670	$30,324,463	$1,999,735
2018	$5,496,414	$5,142,955	$28,935,200	$353,459

NEW GARDEN PARK INC