Fulton Mall Improvement Association INC

Tax-deductible

Brooklyn, NY501(c)(3)Since 1976Community DevelopmentEIN 11-6259160Revenue $3.1M in FY2025

On file with the IRSdowntownbrooklyn.com1 Metrotech Ctr N Rm 1003, 11201-3874 · Brooklyn, NYTax-exempt since May 1977Publicly supported charity — 170(b)(1)(A)(vi)

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The organization provides supplemental sanitation, public safety, streetscape Improvement, visitor information and commercial support services to property owners, businesses and residents of an area established as a special assessment district.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $175K a year · 6% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$324K
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 15 voting members
Looks good: 13 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
+3% vs prior year
Spent
$2.9M
To programs
81%
Net assets
$1.7M
By yearFY2020–FY2025
Revenue
$3.1M
FY2025▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.6M
FY2021$2.7M
FY2022$2.6M
FY2023$3.0M
FY2024$3.0M
FY2025$3.1M
Expenses
$2.9M
FY2025▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.5M
FY2022$2.6M
FY2023$2.7M
FY2024$2.8M
FY2025$2.9M
Net assets
$1.7M
FY2025▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2020$773K
FY2021$966K
FY2022$1.0M
FY2023$1.3M
FY2024$1.5M
FY2025$1.7M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1977.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $2.3M Management & general 19% · $552K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Fulton Mall Improvement Association INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Boosts the vitality and economic growth of a New York City special assessment district.

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Provided by the organization

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3 programs · $2.3M · in their own filed words · FY2024
01

Public Space

Maintaining clean STREETS/CURBS, garbage removal, and supplemental repair and maintenance of sidewalks, signage and public furniture and fixtures.

$1.4Mprogram expense
02

Public Safety

Providing increased public security through a combination of uniformed guards and a working relationship with the new york city police department.

$670Kprogram expense
03

Marketing

Promoting the district to residents and tourists and to retain and develop prospective businesses.

$222Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$3.1M
Ln 12
Fees for servicesLn 2g$3.0M
Investment incomeLn 3$70K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.3M
Managementcol C$552K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$2.0M
LiabilitiesLn 26$324K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.0M
Investment incomeLn 3$70K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$475K
Cash and savings togetherLn 1–2$1.8M
Land, buildings, equipmentLn 10c$167K
Other assetsLn 15$14K
Total assetsLn 16$2.0M
LiabilitiesLn 26$324K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.4M$1.8M
Land, buildings, equipmentLn 10c$58K$167K
Total assetsLn 16$1.6M$2.0M
LiabilitiesLn 26$113K$324K
Net assetsLn 32$1.5M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$485K$340K$145K
Other employee benefitsLn 9$105K$75K$30K
Payroll taxesLn 10$43K$31K$12K
Management feesLn 11a$169K$169K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$23K$23K
Lobbying feesLn 11d$3K$3K
Other fees for servicesLn 11g$1.7M$1.7M$10K
Office expensesLn 13$7K$5K$2K
Information technologyLn 14$18K$8K$10K
OccupancyLn 16$98K$68K$31K
Depreciation, depletion and amortizationLn 22$25K$24K$533
InsuranceLn 23$54K$54K
Other expenses (24a–d)Ln 24$117K$66K$51K
All other expensesLn 24e$3K$140$3K
Total functional expensesLn 25$2.9M$2.3M$552K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $3.1M$2.9M$222K$1.7M 990 PDF
FY2024 $3.0M$2.8M$155K$1.5M 990 PDF
FY2023 $3.0M$2.7M$306K$1.3M 990 PDF
FY2022 $2.6M$2.6M$69K$1.0M 990 PDF
FY2021 $2.7M$2.5M$193K$966K 990 PDF
FY2020 $2.6M$2.5M$103K$773K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $3,090,705 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,969,939$3,020,450
I-10 Investment incomePrior year $20,463$70,255
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,990,402$3,090,705
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $513,723$633,010
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,321,225$2,235,725
I-18 Total expensesPrior year $2,834,948$2,868,735
I-19 Revenue less expensesPrior year $155,454$221,970
Part VI · Governance 13 of 15 board members independent, 3 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $3,090,705 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,020,450$3,020,450
VIII-3 Investment incomeExcluded from tax $70,255$70,255
VIII-12 Total revenueRelated to mission $3,020,450 · Unrelated business $0 · Excluded from tax $70,255$3,090,705
Part IX · Statement of functional expenses $2,868,735 across 15 lines filed
IX-7 Other salaries and wagesPrograms $340,480 · Management $144,879$485,359
IX-9 Other employee benefitsPrograms $74,859 · Management $29,796$104,655
IX-10 Payroll taxesPrograms $30,755 · Management $12,241$42,996
IX-11a Management feesManagement $169,183$169,183
IX-11b Legal feesManagement $9,297$9,297
IX-11c Accounting feesManagement $22,675$22,675
IX-11d Lobbying feesManagement $2,840$2,840
IX-11g Other fees for servicesPrograms $1,699,725 · Management $9,969$1,709,694
IX-13 Office expensesPrograms $4,930 · Management $2,418$7,348
IX-14 Information technologyPrograms $8,320 · Management $9,587$17,907
IX-16 OccupancyPrograms $67,524 · Management $30,771$98,295
IX-22 Depreciation, depletion and amortizationPrograms $24,056 · Management $533$24,589
IX-23 InsuranceManagement $54,294$54,294
IX-24 Other expenses (24a–d)Programs $65,850 · Management $51,024$116,874
IX-24e All other expensesPrograms $140 · Management $2,589$2,729
IX-25 Total functional expensesPrograms $2,316,639 · Management $552,096 · Fundraising $0$2,868,735
Part X · Balance sheet $2,041,203 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $775,549$1,312,476
X-2 Savings and temporary cash investmentsStart of year $646,294$474,732
X-9 Prepaid expenses and deferred chargesStart of year $9,991$72,371
X-10c Land, buildings and equipment, netStart of year $57,803$167,397
X-15 Other assetsStart of year $108,264$14,227
X-16 Total assetsStart of year $1,608,401$2,041,203
X-17 Accounts payable and accrued expensesStart of year $108,842$315,570
X-25 Other liabilitiesStart of year $4,000$8,104
X-26 Total liabilitiesStart of year $112,842$323,674
X-27 Net assets without donor restrictionsStart of year $1,495,559$1,717,529
X-32 Total net assets or fund balancesStart of year $1,495,559$1,717,529
X-33 Total liabilities and net assetsStart of year $1,608,401$2,041,203
Part XI · Reconciliation of net assets $1,717,529 net assets at year end
XI-1 Total revenue$3,090,705
XI-2 Total expenses$2,868,735
XI-3 Revenue less expenses$221,970
XI-4 Net assets at start of year$1,495,559
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,717,529

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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