YONKERS LARKIN GARAGE 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

2011

Legal Domicile

Principal Officer

MIKE SPANO

Phone

2126821106

Tax Period

2023-01-01 to 2023-12-31

YONKERS LARKIN GARAGE INC, founded in 2011, is a small nonprofit in the Public & Societal Benefit sector that reported $656K in total revenue in fiscal year 2023. The organization ran a surplus of $196K, a strong 30% operating margin.

Mission

THE ORGANIZATION WAS FORMED TO LESSEN THE BURDEN OF LOCAL GOVERNMENT IN YONKERS, NY BY OBTAINING PRIVATE FINANCING TO FUND INFRASTRUCTURE IMPROVEMENT PROJECTS.

Program Service Accomplishments

Program 1

Expenses: $422,188 Revenue: $637,268

THE ORGANIZATION LESSENED THE BURDENS OF GOVERNMENT FOR THE CITY OF YONKERS, NEW YORK WITH THE CONSTRUCTION OF THE 300 SPACE LARKIN PARKING GARAGE. NINETY-TWO OF THE 300 SPACES WERE DEDICATED TO...

THE ORGANIZATION LESSENED THE BURDENS OF GOVERNMENT FOR THE CITY OF YONKERS, NEW YORK WITH THE CONSTRUCTION OF THE 300 SPACE LARKIN PARKING GARAGE. NINETY-TWO OF THE 300 SPACES WERE DEDICATED TO RESIDENTS IN A LOW INCOME WORK FORCE HOUSING PROJECT THAT WAS DEVELOPED DIRECTLY ACROSS THE STREET FROM THE GARAGE. THE DEVELOPMENT OF THE GARAGE ALSO ENABLED THE CITY OF YONKERS TO PROCEED WITH THE DAYLIGHTING OF THE SAW MILL RIVER WHICH RESULTED IN THE CREATION OF A 4 ACRE CENTRAL CITY RIVER PARK. THE PUBLIC USE GARAGE WAS SEEN AS A CRITICAL PIECE IN THE CITY'S EFFORTS TO RENEW ITS DOWNTOWN AND MAKE IT MORE ATTRACTIVE FOR RESIDENTIAL AND SMALL BUSINESS DEVELOPMENT.

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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 $0

Program Service Revenue $637,268

Investment Income $17,621

Other Revenue $1,471

TOTAL REVENUE $656,360

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $26

Program Expenses $422,188

Other Expenses $460,562

TOTAL EXPENSES $460,562

Year-over-Year Comparison

	2023	2022	Change
Revenue	$656,360	$623,033	+0.1%
Expenses	$460,562	$546,765	-0.2%
Net Income	$195,798	$76,268	+1.6%

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

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

$670,061

Total Directors

$739,532

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE SPANO	CHAIR	0.25	Officer Director	$0	$82,674	$238,773
JOHN LISZEWSKI	TREASURER	0.25	Officer Director	$0	$82,674	$358,270
WILSON KIMBALL	SECRETARY	0.25	Officer Director	$0	$0	$0
JAMES CAVANAUGH	ASSISTANT SECRETARY	0.25	Officer Director	$0	$28	$73,018
SHANAE WILLIAMS	BOARD MEMBER	0.25	Director	$0	$16,469	$69,471

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	$656,360	$460,562	$10,719,000	$195,798
2022	$623,033	$546,765	$10,533,231	$76,268
2021	$585,425	$467,990	$10,459,598	$117,435
2020	$555,172	$320,376	$10,468,245	$234,796
2019	$561,273	$507,895	$10,220,621	$53,378
2018	$732,367	$977,512	$10,158,514	$-245,145