Grand Central Partnership Inc
- Assets
- $10.9m
- Revenue
- $13.9m
- Investments
- $4.7m
- Employees
- 117
- Location
- New York, NY
- Founding
- 06/1991
- Data as of
- 06/2022
- EIN
- 13-3275810
Organization Overview
Grand Central Partnership Inc is located in New York, NY. The organization was established in 1991. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Grand Central Partnership Inc employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Central Partnership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Grand Central Partnership Inc generated $13.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $12.7m during the year ending 06/2022. While expenses have increased by 0.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE VITALITY AND ECONOMIC GROWTH OF A BUSINESS IMPROVEMENT DISTRICT LOCATED IN NYC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SANITATION - MAINTAINING CLEAN STREETS/CURBS, LITTER AND GRAFFITI REMOVAL.
DISTRICT-WIDE MAINTENANCE - IMPROVING AND MAINTAINING THE OVERALL APPEARANCE OF THE DISTRICT BY INSTALLING STREETSCAPE AMENITIES SUCH AS PUBLIC FURNITURE AND STREET LIGHTING, AND THE COST OF FINANCING THOSE IMPROVEMENTS.
PUBLIC SAFETY - PROVIDING INCREASED PUBLIC SECURITY THROUGH A COMBINATION OF UNIFORMED OFFICERS AND A WORKING RELATIONSHIP WITH THE NEW YORK CITY POLICE DEPARTMENT AND OTHER PUBLIC AND PRIVATE LAW ENFORCEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alfred C Cerullo III President & Ceo. | Officer | 45 | $514,824 |
George Twill 2nd V.P. For Admin. & Operations | Officer | 45 | $387,702 |
Marc Wurzel General Counsel & Assistant Sec. | Officer | 45 | $243,732 |
Rochelle Patricof 1st V.P. For Admin. & Operations | Officer | 45 | $209,385 |
Robert Adinolfi C.f.o. & Assistant Treasurer | Officer | 45 | $203,003 |
Paula Horowitz Dir. Of Hospitality & Special Events. | 45 | $188,246 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
City 1 Maintenance Inc Construction/maintenance | 6/29/22 | $421,494 |
Breaking Ground Community Hdfc Inc Homeless Services | 6/29/22 | $143,383 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,040 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,040 |
| Total Program Service Revenue | $13,131,105 |
| Investment income | $61,667 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $610,717 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,880,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,748,985 |
| Compensation of current officers, directors, key employees. | $241,382 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,033,104 |
| Pension plan accruals and contributions | $32,413 |
| Other employee benefits | $373,104 |
| Payroll taxes | $1,232,230 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,629 |
| Fees for services: Accounting | $34,800 |
| Fees for services: Lobbying | $11,423 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,127,099 |
| Advertising and promotion | $0 |
| Office expenses | $109,008 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $785,352 |
| Travel | $15,416 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,385,256 |
| Insurance | $451,272 |
| All other expenses | $0 |
| Total functional expenses | $12,710,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,217,894 |
| Savings and temporary cash investments | $602,034 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $246,102 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $490,806 |
| Net Land, buildings, and equipment | $3,484,616 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,748,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $116,303 |
| Total assets | $10,906,247 |
| Accounts payable and accrued expenses | $770,582 |
| Grants payable | $0 |
| Deferred revenue | $334,069 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,104,651 |
| Net assets without donor restrictions | $9,699,749 |
| Net assets with donor restrictions | $101,847 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,906,247 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Grand Central Partnership Inc has recieved totaling $7,625.
| Awarding Organization | Amount |
|---|---|
Richmond County Savings Foundation Staten Island, NY PURPOSE: GRAND GOURRMET FEB 26 | $5,000 |
Rebny Foundation Inc New York, NY PURPOSE: NEIGHBORHOOD IMPROVEMENT | $2,500 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 03/10/20 | $125 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Securities Industry And Financial Markets Association Inc New York, NY | $42,827,387 | $47,657,181 |
34th Street Partnership Inc New York, NY | $17,652,180 | $14,359,330 |
Grand Central Partnership Inc New York, NY | $10,906,247 | $13,880,529 |
Pennsylvania Compensation Rating Bureau Philadelphia, PA | $10,444,965 | $13,500,527 |
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc Brooklyn, NY | $54,916,417 | $14,539,539 |
Can Do Inc Hazleton, PA | $88,120,031 | $19,938,198 |
York County Economic Alliance York, PA | $4,435,375 | $9,671,986 |
Ascendus Inc New York, NY | $45,777,812 | $14,588,685 |
Bridgeway Capital Inc Pittsburgh, PA | $100,800,088 | $11,446,748 |
Altoona-Blair County Development Corporation Altoona, PA | $122,969,142 | $33,416,279 |
Greater Wilkes-Barre Industrial Fund Inc Wilkesbarre, PA | $1,685,287 | $7,409,722 |
Connstep Inc Hartford, CT | $5,391,864 | $6,270,830 |