UNDERGROUND DEVELOPMENT FOUNDATION… - Form 990 Financial Data

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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

2011

Legal Domicile

Principal Officer

DAN BARASCH

Phone

7185944702

Tax Period

2022-01-01 to 2022-12-31

Mission

THE UNDERGROUND DEVELOPMENT FOUNDATION SEEKS TO BUILD A UNIQUE UNDERGROUND COMMUNITY PARK IN A HISTORIC TROLLEY TERMINAL ON THE LOWER EAST SIDE OF NEW YORK CITY.

Program Service Accomplishments

Program 1

YOUTH EDUCATION - PROGRAMS DESIGNED TO PREPARE YOUNG PEOPLE FOR CAREERS AND EDUCATIONAL PATHS IN SCIENCE, TECHNOLOGY, ENGINEERING, ARTS AND MATHEMATICS RELATED FIELDS THROUGH INNOVATIVE YOUTH...

YOUTH EDUCATION - PROGRAMS DESIGNED TO PREPARE YOUNG PEOPLE FOR CAREERS AND EDUCATIONAL PATHS IN SCIENCE, TECHNOLOGY, ENGINEERING, ARTS AND MATHEMATICS RELATED FIELDS THROUGH INNOVATIVE YOUTH MENTORSHIP AND JOB TRAINING OPPORTUNITIES, SUCH AS PUBLIC EXHIBITS AND WORKSHOPS.

Program 2

RESEARCH AND DESIGN - EXPENSES INCURRED TO GATHER AND ANALYZE DISTRICT-WIDE COMMUNITY NEEDS AND STUDY AREA DATA AND TO RESEARCH BEST PRACTICES FOR PUBLIC SPACE DESIGN AND INNOVATIVE ECONOMIC...

RESEARCH AND DESIGN - EXPENSES INCURRED TO GATHER AND ANALYZE DISTRICT-WIDE COMMUNITY NEEDS AND STUDY AREA DATA AND TO RESEARCH BEST PRACTICES FOR PUBLIC SPACE DESIGN AND INNOVATIVE ECONOMIC DEVELOPMENT. THE GOAL IS TO PROVIDE A CONSISTENT FORUM FOR OPEN COMMUNITY FEEDBACK AND TO DEVELOP A COMMUNITY-CENTERED VISION WITH A DIVERSE GROUP OF COMMUNITY RESIDENTS AND STAKEHOLDERS. ADDITIONALLY, THE ORGANIZATION CONDUCTS TECHNICAL RESEARCH AND CONCEPTUAL DESIGN TO ACCESS THE VIABILITY OF BOTH THE TROLLEY TERMINAL'S REMEDIATION AND TRANSFORMATION AND THE SOLAR TECHNOLOGY BEHIND THE LOWLINE EFFORT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $6,939

TOTAL EXPENSES $6,939

Year-over-Year Comparison

	2022	2021	Change
Revenue	N/A	N/A	N/A
Expenses	$6,939	$5,727	+0.2%
Net Income	N/A	$-5,727	N/A

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
DAVID BARRY	CO-CHAIRMAN	1.00	Director	$0	$0	$0
JAMES RAMSEY	DIRECTOR	0.50	Director	$0	$0	$0
JOLIE HUNT-POTTER	DIRECTOR	0.50	Director	$0	$0	$0
JOSHUA SIREFMAN	CO-CHAIRMAN	1.00	Director	$0	$0	$0
MARQUISE STILLWELL	VICE CHAIR	1.00	Director	$0	$0	$0
PAUL HOFFMAN	DIRECTOR	0.50	Director	$0	$0	$0
PETER SHAPIRO	DIRECTOR	0.50	Director	$0	$0	$0
SERENA ALTSCHUL	DIRECTOR	0.50	Director	$0	$0	$0
SIGNE NIELSEN	DIRECTOR	0.50	Director	$0	$0	$0
WILLY WILSON	DIRECTOR	0.50	Director	$0	$0	$0
DAN BARASCH	DIRECTOR	1.00	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
2022	No data	$6,939	$5,628	No data
2021	No data	$5,727	$13,658	No data
2020	No data	$6,742	$19,992	No data
2019	$1,875	$10,695	$30,044	$-8,820
2018	$238,438	$217,320	$47,706	$21,118

UNDERGROUND DEVELOPMENT FOUNDATION (THE LOWLINE)