City Report 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

2018

Legal Domicile

Phone

9176710401

Tax Period

2024-01-01 to 2024-12-31

City Report Inc, founded in 2018, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.5M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $5.4M exceeded revenue, resulting in a 21% operating deficit.

Mission

CITY REPORT, INC. serves the people of New York through independent journalism that answers their information needs and holds the powerful to account.

Program Service Accomplishments

Program 1

Expenses: $3,876,459 Revenue: $0

THE CITY IS AN INDEPENDENT, NONPROFIT, NEWSROOM BUILT ON THE CONVICTION THAT GREAT LOCAL NEWS IS INDISPENSABLE IN A GREAT CITY. WE PUBLISH INVESTIGATIVE JOURNALISM THAT HOLDS THE POWERFUL TO ACCOUNT, EXPLANATORY REPORTING THAT MAKES IT EASIER TO NAVIGATE COMPLEX PROCESSES, AND CONSISTENT, GROUND-UP COVERAGE OF THE MOST IMPORTANT ISSUES AFFECTING EVERYONE WHO LIVES HERE. CONTINUED ON SCHEDULE O.

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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 $4,357,938

Program Service Revenue $0

Investment Income $0

Other Revenue $132,849

TOTAL REVENUE $4,490,787

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,892,127

Fundraising Expenses $519,443

Program Expenses $3,876,459

Other Expenses $1,402,444

TOTAL EXPENSES $5,432,071

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,490,787	$3,548,591	+0.3%
Expenses	$5,432,071	$7,076,355	-0.2%
Net Income	$-941,284	$-3,527,764	-0.7%

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

$583,206

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Elizabeth McNamara	Secretary	1.0	Officer Director	$0	$0	$0
Fannie Chen	Treasurer	1.0	Officer Director	$0	$0	$0
Jamie Alter Lynton	Co-Chair	1.0	Officer Director	$0	$0	$0
Mark Colodny	Vice Chair	1.0	Officer Director	$0	$0	$0
Sarah Bartlett	Co-Chair	1.0	Officer Director	$0	$0	$0
Don Baer	Board Member	1.0	Director	$0	$0	$0
Gary Ginsberg	Board Member (Thru December 2024)	1.0	Director	$0	$0	$0
Luis Miranda Jr	Board Member	1.0	Director	$0	$0	$0
Mark Winston Griffith	Board Member	1.0	Director	$0	$0	$0
Marsha Cooke	Board Member	1.0	Director	$0	$0	$0
Perri Peltz	Board Member	1.0	Director	$0	$0	$0
Richard Murray	Board Member	1.0	Director	$0	$0	$0
Rob Speyer	Board Member	1.0	Director	$0	$0	$0
Susan Kane	Board Member	1.0	Director	$0	$0	$0
Nicholas Dawes	Executive Director	40.0	Officer	$260,279	$62,855	$323,134
Richard Kim	Editor-in-Chief	40.0	Officer	$223,290	$36,782	$260,072
Alyssa Katz	Executive Editor	32.0	Highest	$153,845	$60,697	$214,542
Greg Smith	Senior Reporter	32.0	Highest	$118,222	$1,605	$119,827
Harry Siegel	Senior Editor	32.0	Highest	$111,893	$61,328	$173,221
Lyle Hasani Gittens	Deputy Editor	32.0	Highest	$145,440	$11,308	$156,748
Martin Gottlieb	Senior Editor	32.0	Highest	$117,929	$2,179	$120,108

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	$4,490,787	$5,432,071	$3,574,659	$-941,284
2024	$4,490,787	$5,432,071	$3,574,659	$-941,284
2023	$3,548,591	$7,076,355	$3,776,332	$-3,527,764
2022	$6,365,275	$5,881,220	$7,612,773	$484,055
2021	$7,232,654	$4,395,251	$6,536,494	$2,837,403
2020	$5,328,707	$4,406,398	$4,323,220	$922,309
2019	$5,264,064	$2,586,787	$2,916,975	$2,677,277