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Downtown-Lower Manhattan

Not tax-deductible

New York, NY501(c)(4)EIN 13-5668436

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To foster, promote and support the interests of Lower Manhattan,south of canal street.

90¢ of each $1 spent went to programs.
Run by 25 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $11K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$119K
to officers and key staff · 57% of spending
Concern: pay to officers and key staff is 57% of spending; over 30%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$20K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 26 voting members
Looks good: 25 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$197K
-9% vs prior year
Spent
$210K
To programs
90%
Net assets
$451K
By yearFY2020–FY2024
Revenue
$197K
FY2024▼ -9%
Revenue by fiscal year
FY2020$227K
FY2021$198K
FY2022$206K
FY2023$217K
FY2024$197K
Expenses
$210K
FY2024▲ +3%
Expenses by fiscal year
FY2020$191K
FY2021$194K
FY2022$191K
FY2023$203K
FY2024$210K
Net assets
$451K
FY2024▼ -3%
Net assets by fiscal year
FY2020$430K
FY2021$435K
FY2022$450K
FY2023$463K
FY2024$451K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1959.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $189K Management & general 10% · $21K

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

26 people listed on the 990; $119K paid to officers and key staff.

Part VII, Section A · reportable compensation
$119,000Pt VII · Sec A
Ric Clark
Chairman
$0Pt VII · Sec A
John Wheeler
Secretary
$0Pt VII · Sec A
Frank Sciame
Treasurer
$0Pt VII · Sec A
Alex Spektor
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jessica Lappin$119,000$119,000$115,500$112,000$119,333

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Downtown-Lower Manhattan 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes and supports the interests of Lower Manhattan, south of Canal Street.

Provided by the organization

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1 program service account for $189K of program spending, described in the organization's own filed words · FY2024.
01

To foster, promote and support the physical improvement and sound redevelopment; preservation of economic values; transit improvements, and support for not-for-profit cultural ventures of lower manhattan.

$189Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$197K
Ln 12
Fees for servicesLn 2g$178K
Investment incomeLn 3$18K
Money outPt IX
$210K
Ln 25
Programscol B$189K
Managementcol C$21K
Owns and owesPt X
$451K
net assets · Ln 32
Cash and savingsLn 1–2$88K
Total assetsLn 16$471K
LiabilitiesLn 26$20K
PeoplePt VI, VII
26
listed · VII A
PaidVII A1
Voting boardVI 1a26
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$178K
Investment incomeLn 3$18K
Total revenueLn 12$197K
Assets in detailPt X, end of year
CashLn 1$88K
Cash and savings togetherLn 1–2$88K
InvestmentsLn 11–13$373K
Total assetsLn 16$471K
LiabilitiesLn 26$20K
Net assetsLn 32$451K
OperationsPt I, VI
EmployeesI 52
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$184K$88K
InvestmentsLn 11–13$296K$373K
Total assetsLn 16$489K$471K
LiabilitiesLn 26$26K$20K
Net assetsLn 32$463K$451K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$149K$149K
Other salaries and wagesLn 7$10K$10K
Payroll taxesLn 10$13K$13K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$1K$1K
Office expensesLn 13$393$393
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$17K$17K
Total functional expensesLn 25$210K$189K$21K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $197K$210K−$13K$451K 990 PDF
FY2023 $217K$203K$14K$463K 990 PDF
FY2022 $206K$191K$15K$450K 990 PDF
FY2021 $198K$194K$4K$435K 990 PDF
FY2020 $227K$191K$35K$430K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $196,935 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $178,500$178,500
VIII-3 Investment incomeExcluded from tax $18,435$18,435
VIII-12 Total revenueRelated to mission $178,500 · Unrelated business $0 · Excluded from tax $18,435$196,935
Part IX · Statement of functional expenses $209,895 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $148,750$148,750
IX-7 Other salaries and wagesPrograms $10,000$10,000
IX-10 Payroll taxesPrograms $12,716$12,716
IX-11b Legal feesManagement $5,000$5,000
IX-11c Accounting feesManagement $12,300$12,300
IX-11g Other fees for servicesManagement $1,477$1,477
IX-13 Office expensesManagement $393$393
IX-23 InsuranceManagement $2,154$2,154
IX-24 Other expenses (24a–d)Programs $17,105$17,105
IX-25 Total functional expensesPrograms $188,571 · Management $21,324 · Fundraising $0$209,895
Part X · Balance sheet $470,826 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $183,585$88,208
X-9 Prepaid expenses and deferred chargesStart of year $9,428$9,429
X-12 Other securitiesStart of year $296,284$373,189
X-16 Total assetsStart of year $489,297$470,826
X-17 Accounts payable and accrued expensesStart of year $6,300$5,625
X-19 Deferred revenueStart of year $19,500$13,500
X-25 Other liabilitiesStart of year $0$1,164
X-26 Total liabilitiesStart of year $25,800$20,289
X-27 Net assets without donor restrictionsStart of year $463,497$450,537
X-32 Total net assets or fund balancesStart of year $463,497$450,537
X-33 Total liabilities and net assetsStart of year $489,297$470,826
Part XI · Reconciliation of net assets $450,537 net assets at year end
XI-1 Total revenue$196,935
XI-2 Total expenses$209,895
XI-3 Revenue less expenses−$12,960
XI-4 Net assets at start of year$463,497
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$450,537

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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