NEAR WEST SIDE INITIATIVE INC

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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

2007

Legal Domicile

Principal Officer

MICHELLE SCZPANSKI

Phone

3154438052

Tax Period

2023-01-01 to 2023-12-31

NEAR WEST SIDE INITIATIVE INC, founded in 2007, is a small nonprofit in the Community Improvement sector that reported $663K in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 109% operating deficit.

Mission

TO FUNCTION AS A COMMUNITY DEVELOPMENT ORGANIZATION FOR THE PURPOSE OF CREATING & IMPLEMENTING A COMPREHENSIVE REDEVELOPMENT PLAN FOR THE NEAR WEST SIDE NEIGHBORHOOD OF THE CITY OF SYRACUSE

Program Service Accomplishments

Program 1

Expenses: $1,245,696 Revenue: $620,606

THE NEAR WEST SIDE INITIATIVE, INC MAINTAINED AND RENTED PROPERTIES DESIGNATED FOR RENOVATION AS PART OF THEIR REDEVELOPMENT PLAN FOR THE NEAR WEST SIDE NEIGHBORHOOD WITHIN THE CITY OF SYRACUSE.

Program 2

Expenses: $42,374 Revenue: $41,926

MULTI-USE PERFORMING ARTS CENTER (SALTSPACE) DEDICATED TO ENHANCING THE QUALITY OF LIFE IN THE COMMUNITY THROUGH AN ACCESSIBLE ARTISTIC HUB FOR CREATIVE COLLABORATION AND OPPORTUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $500

Program Service Revenue $661,707

Investment Income $45

Other Revenue $825

TOTAL REVENUE $663,077

Expense Breakdown

Grants Paid $0

Salaries & Benefits $66,083

Fundraising Expenses $0

Program Expenses $1,288,070

Other Expenses $1,317,430

TOTAL EXPENSES $1,383,513

Year-over-Year Comparison

	2023	2022	Change
Revenue	$663,077	$843,872	-0.2%
Expenses	$1,383,513	$1,342,532	+0.0%
Net Income	$-720,436	$-498,660	+0.4%

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

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

$62,583

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE SCZPANSKI	PRESIDENT	4.00	Officer Director	$0	$0	$0
SHEENA SOLOMON	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MARIA MURRAY	SECRETARY	2.00	Officer Director	$0	$0	$0
LEAH RUSSELL	DIRECTOR	0.50	Director	$0	$0	$0
BABETTE BAKER	DIRECTOR	2.00	Director	$0	$0	$0
KEITH TYSON	EXECUTIVE DIRECTOR	40.00	Officer	$51,480	$11,103	$62,583

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	$663,077	$1,383,513	$10,218,591	$-720,436
2022	$843,872	$1,342,532	$10,724,993	$-498,660
2021	$901,152	$1,232,088	$11,357,762	$-330,936
2020	$1,758,785	$1,285,907	$11,868,738	$472,878
2020	$1,753,491	$1,285,710	$11,862,779	$467,781
2019	$1,368,070	$1,414,702	$12,681,893	$-46,632
2018	$3,531,094	$1,326,063	$12,346,484	$2,205,031