GOVERNORS ISLAND CORPORATION (EIN 272683349) - 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

2010

Legal Domicile

Principal Officer

CLARE NEWMAN

Phone

2124402200

Tax Period

2024-07-01 to 2025-06-30

GOVERNORS ISLAND CORPORATION, founded in 2010, is a mid-sized nonprofit in the Animal-Related sector that reported $65.3M in total revenue in fiscal year 2024. Expenses of $56.3M left a modest 14% surplus.

Mission

THE TRUST FOR GOVERNORS ISLAND (THE "TRUST OR "TGI") IS A NONPROFIT CORPORATION CREATED BY THE CITY OF NEW YORK CHARGED WITH THE PLANNING, REDEVELOPMENT AND ONGOING OPERATIONS OF 150 ACRES OF GOVERNORS ISLAND. THE TRUST'S MISSION IS TO REALIZE THE FULL POTENTIAL OF GOVERNORS ISLAND FOR THE INSPIRATION AND ENJOYMENT OF ALL NEW YORKERS, DEMONSTRATING A BOLD VISION FOR PUBLIC SPACE.

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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 $55,283,313

Program Service Revenue $9,631,230

Investment Income $341,311

Other Revenue $70,141

TOTAL REVENUE $65,325,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,045,203

Fundraising Expenses $67,523

Program Expenses $48,299,448

Other Expenses $46,269,602

TOTAL EXPENSES $56,314,805

Year-over-Year Comparison

	2024	2023	Change
Revenue	$65,325,995	$66,092,062	0.0%
Expenses	$56,314,805	$57,496,596	0.0%
Net Income	$9,011,190	$8,595,466	+0.0%

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

$1,529,908

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALICE BLANK	BOARD MEMBER	1.00	Director	$0	$0	$0
ALICIA GLEN	CHAIR	1.00	Officer Director	$0	$0	$0
BENJAMIN LAWSKY	BOARD MEMBER	1.00	Director	$0	$0	$0
CARL WEISBROD	BOARD MEMBER	1.00	Director	$0	$0	$0
CAROLEE FINK	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTIAN BRANEON	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIEL NEIDICH	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIEL SQUADRON	BOARD MEMBER (OUTGOING)	1.00	Director	$0	$0	$0
EB KELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
GAURAV KAPADIA	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES KELLY MCGOWAN	BOARD MEMBER (OUTGOING)	1.00	Director	$0	$0	$0
KAREN HOPKINS	BOARD MEMBER (OUTGOING)	1.00	Director	$0	$0	$0
MARC NORMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL OPPENHEIMER	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD CORMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
SUSAN MERCANDETTI	BOARD MEMBER	1.00	Director	$0	$0	$0
TIM CAWLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
TOKUMBO SHOBOWALE	BOARD MEMBER	1.00	Director	$0	$0	$0
WENDY BRAWER	BOARD MEMBER	1.00	Director	$0	$0	$0
ALEXANDER BRADY	CHIEF REAL ESTATE OFFICER	35.00	Officer	$161,730	$49,721	$211,451
CHRISTOPHER TEPPER	CHIEF DEVELOPMENT OFFICER (OUTGOING)	35.00	Officer	$226,024	$73,235	$299,259
CLARE NEWMAN	PRESIDENT/CEO	35.00	Officer	$248,023	$96,645	$344,668
DANIEL HANTMAN	GENERAL COUNSEL	35.00	Officer	$204,777	$75,245	$280,022
JENNIFER RENTAS	COO	35.00	Officer	$144,502	$16,797	$161,299
WILLA PADGETT	CFO	35.00	Officer	$201,656	$31,553	$233,209
ANDRE BELL	SENIOR DIRECTOR, FACILITIES	35.00	Highest	$147,114	$61,070	$208,184
ANDRE SHKOZA	ASST. CHIEF ENGINEER	35.00	Highest	$157,246	$0	$157,246
ROGER KENNEDY	CHIEF ENGINEER	35.00	Highest	$196,186	$0	$196,186
SARAH KRAUTHEIM	VP, PUBLIC AFFAIRS	35.00	Highest	$187,099	$46,166	$233,265
WILLIAM JOHNSON	SENIOR DIRECTOR	35.00	Highest	$162,796	$22,624	$185,420

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	$65,325,995	$56,314,805	$401,467,685	$9,011,190
2024	$66,092,062	$57,496,596	$385,935,347	$8,595,466
2023	$65,206,529	$54,135,369	$379,526,191	$11,071,160
2022	$44,688,095	$46,497,602	$359,077,969	$-1,809,507
2021	$30,303,739	$43,797,262	$322,866,104	$-13,493,523
2020	$29,173,700	$41,461,042	$333,239,359	$-12,287,342
2019	$37,007,847	$42,000,369	$348,900,124	$-4,992,522

GOVERNORS ISLAND CORPORATION