Yonkers Larkin Garage Inc
- Assets
- $10.5m
- Revenue
- $585.4k
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 11/2013
- Data as of
- 12/2021
- EIN
- 80-0730609
Organization Overview
Yonkers Larkin Garage Inc is located in New York, NY. The organization was established in 2013. According to its NTEE Classification (W19) the organization is classified as: Support N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Yonkers Larkin Garage Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Yonkers Larkin Garage 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 12/2021, Yonkers Larkin Garage Inc generated $585.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $468.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO LESSEN THE BURDEN OF LOCAL GOVERNMENT IN YONKERS, NY BY OBTAINING PRIVATE FINANCING TO FUND INFRASTRUCTURE IMPROVEMENT PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Liszewski Treasurer | OfficerTrustee | 0.25 | $0 |
Mike Spano Chair | OfficerTrustee | 0.25 | $0 |
Wilson Kimball Secretary | OfficerTrustee | 0.25 | $0 |
James Cavanaugh Assistant Secretary | OfficerTrustee | 0.25 | $0 |
Shanae Williams Board Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $850 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $850 |
| Total Program Service Revenue | $583,040 |
| Investment income | $1,535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $585,425 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $162,416 |
| Fees for services: Legal | $12,835 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $87,037 |
| Advertising and promotion | $1,403 |
| Office expenses | $98,060 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,330 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $51,319 |
| All other expenses | $31,590 |
| Total functional expenses | $467,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,754 |
| Savings and temporary cash investments | $446,862 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,088 |
| 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 | $20,309 |
| Net Land, buildings, and equipment | $9,664,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,459,598 |
| Accounts payable and accrued expenses | $60,596 |
| Grants payable | $0 |
| Deferred revenue | $16,971 |
| 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 | $14,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,077,567 |
| Net assets without donor restrictions | -$3,617,969 |
| Net assets with donor restrictions | $0 |
| 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 | $10,459,598 |
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