Civic Intelligence

The Carter Burden Network

990 • Fiscal year 2020 • EIN 23-7129499

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 12, 2021

Refreshing map…

415 E 73rd StreetNew York, NY 10021

(212) 879-7400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

30th percentile

0.07x

Higher debt load relative to assets than 30% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

30th percentile

0.14x

Higher debt load relative to revenue than 30% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

11th percentile

-25%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

82nd percentile

$322,467

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

7th percentile

-9.2%

Faster asset growth than 7% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2020

Revenue Growth

27th percentile

-9.7%

Faster revenue growth than 27% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2020

Assets

Down

$12,416,769

Down $2,632,043 (-17%) from 2018

Net Assets

Down

$11,565,175

Down $2,680,309 (-19%) from 2018

Liabilities

Up

$851,594

Up $48,266 (+6.0%) from 2018

Revenue

Down

$6,242,509

Down $1,411,681 (-18%) from 2018

Expenses

Down

$7,780,710

Down $717,908 (-8.4%) from 2018

Net Income

Down

-$1,538,201

Down $693,773 (-82%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2011: $5,863,215Liabilities 2011: $354,819Net Assets 2011: $5,508,3962011Assets 2012: $5,483,385Liabilities 2012: $337,304Net Assets 2012: $5,146,0812012Assets 2013: $6,179,291Liabilities 2013: $633,238Net Assets 2013: $5,546,0532013Assets 2014: $6,923,920Liabilities 2014: $1,034,405Net Assets 2014: $5,889,5152014Assets 2015: $18,894,372Liabilities 2015: $1,071,836Net Assets 2015: $17,822,5362015Assets 2016: $17,631,260Liabilities 2016: $865,628Net Assets 2016: $16,765,6322016Assets 2018: $15,048,812Liabilities 2018: $803,328Net Assets 2018: $14,245,4842018Assets 2020: $12,416,769Liabilities 2020: $851,594Net Assets 2020: $11,565,1752020Assets 2021: $13,614,066Liabilities 2021: $803,789Net Assets 2021: $12,810,2772021Assets 2022: $12,961,894Liabilities 2022: $728,756Net Assets 2022: $12,233,1382022

Highlighted filing

2020

Assets$12,416,769
Liabilities$851,594
Net Assets$11,565,175

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $3,650,6372011Expenses 2012: $3,768,4762012Expenses 2013: $4,499,7002013Revenue 2014: $5,186,918Expenses 2014: $5,386,652Net Income 2014: -$199,7342014Revenue 2015: $18,115,815Expenses 2015: $6,113,615Net Income 2015: $12,002,2002015Revenue 2016: $7,032,408Expenses 2016: $8,184,731Net Income 2016: -$1,152,3232016Revenue 2018: $7,654,190Expenses 2018: $8,498,618Net Income 2018: -$844,4282018Revenue 2020: $6,242,509Expenses 2020: $7,780,710Net Income 2020: -$1,538,2012020Revenue 2021: $6,566,881Expenses 2021: $6,413,062Net Income 2021: $153,8192021Revenue 2022: $8,892,840Expenses 2022: $7,071,044Net Income 2022: $1,821,7962022

Highlighted filing

2020

Revenue$6,242,509
Expenses$7,780,710
Net Income-$1,538,201
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 12, 2021
Return Version
2019v5.0
Gross Receipts
$8,365,780
Mission and Program Overview

Mission

Carter burden network (cbn) promotes the well-being of older adults 60 and older through a continuum of services, advocacy, arts and culture, health and wellness, and volunteer programs, all oriented to individual, family and community needs. We are dedicated to supporting the efforts of older people to live safely and with dignity.

Carter Burden Network promotes the well-being of seniors 60 and older through a continuum of services, advocacy, arts and culture, health and wellness, and volunteer programs, all oriented to individual, family and community needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,273,671$10,775,255▼ $1,498,416
Pledges and Grants Receivable$237,758$778,025▲ $540,267
Land, Buildings, and Equipment, Net$536,002$411,493▼ $124,509
Cash and Non-Interest-Bearing Accounts$224,844$356,264▲ $131,420
Savings and Temporary Cash Investments$33,498$36,825▲ $3,327
Prepaid Expenses and Deferred Charges$24,770$27,764▲ $2,994
Accounts Receivable$204,862$8,887▼ $195,975
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$13,577,604$12,416,769▼ $1,160,835
Other Assets Total$42,199$22,256▼ $19,943
Liabilities
Accounts Payable and Accrued Expenses$354,005$402,355▲ $48,350
Deferred Revenue$351,322$384,185▲ $32,863
Other Liabilities$59,588$54,395▼ $5,193
Escrow Account Liability$7,340$10,659▲ $3,319
Total Liabilities$772,255$851,594▲ $79,339
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,217,357$7,801,935▼ $1,415,422
Net Assets With Donor Restrictions$3,587,992$3,763,240▲ $175,248
Total Net Assets Fund Balance$12,805,349$11,565,175▼ $1,240,174
Total Liabilities and Net Assets / Fund Balance$13,577,604$12,416,769▼ $1,160,835

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$365,959$319,285$685,244
Other Land Buildings$38,166$163,401$201,567
Equipment$7,368$177,031$184,399

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$3,290,355-▲ $283,492$124,850$3,448,997
2018$3,119,721-▲ $292,754$122,120$3,290,355
2017$3,047,949-▲ $209,606$137,834$3,119,721
2016$2,914,667-▲ $267,282$134,000$3,047,949
2015$2,980,597-▲ $49,070$115,000$2,914,667
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William DionneExecutive DirectorFT$297,162$25,305$322,467
Marlena VaccaroAssoc. Exec. DirectorFT$125,477$17,676$143,153
Velda MuradAssoc. Exec. DirectorFT$140,714-$140,714
Loy MulyagonjaCFOFT$117,856$19,396$137,252
Revenue and Support

Revenue Composition

Contributions and Grants
$5,448,716
Program Service Revenue
$192,963
Investment Income
$600,830
Other Revenue
$0
All Other Contributions
$691,783
Change in Net Assets
$-1,538,201

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,165,182
Revenue Not Reported on Financial Statements
$77,327
Revenue Not Reported on Form 990
$2,162,615
Total Revenue per Audited Statements
$8,327,797
Total Revenue per Form 990
$6,242,509
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,061,627
Other Expenses$2,649,083
Total Fundraising Expense$665,165
Professional Fundraising Fees$70,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,812,786$353,347$261,803$3,427,936
Other Employee Benefits$666,181$63,089$32,085$761,355
Fees for Services Other$555,719$86,539$50,377$692,635
Occupancy$528,852$37,800$44$566,696
Current Officers, Directors, Trustees, and Key Employees-$332,418$146,861$479,279
Payroll Taxes$207,157$39,035$25,261$271,453
Depreciation Depletion$92,986$31,523-$124,509
Pension Plan Contributions$99,857$11,021$10,726$121,604
Information Technology$92,188$11,738$3,658$107,584
Office Expenses$82,945$5,413$11,561$99,919
Insurance$77,196$9,145$1,047$87,388
Fees for Service Investment Mgmnt Fees-$77,327-$77,327
Fees for Services Professional Fundraising--$70,000$70,000
All Other Expenses$20,770$5,323$33,193$59,286
Other Expenses$12,496$35,509$3,970$51,975
Travel$26,427$5,667$34$32,128
Total Functional Expenses$5,993,198$1,122,347$665,165$7,780,710

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,567,971
Total Expenses per Form 990$7,780,710
Expenses per Audited Statements$7,703,383
Expenses Not Reported on Form 990$1,864,588
Expenses Not Reported on Financial Statements$77,327
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$112,350
Fundraising Gross Income$112,350
Professional Fundraising Fees$70,000

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$456,255$112,350-$112,350
Total Events$456,255$112,350$112,350-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred rent$54,395
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Management reviewed a draft of the form 990 with the audit/Executive committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a board approved conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interest party transactions.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the executive director to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Carter Burden Network Inc
EIN
23-7129499
Phone
2128797400
Address
415 E 73rd Street, New York, NY 10021

Signing Officer

Name
William Dionne
Title
Executive Director
Signed
2021-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Dionne
Formed
1971
Legal Domicile
Ny
Voting Board Members
25
Independent Board Members
25
Employees
98
Volunteers
1,601

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016
Preparer
Michael Schall
Phone
2122682800
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Health and Wellness is a growing area of CBNs work, helping seniors make positive choices that improve their long term emotional and physical wellbeing through innovative research studies, educational workshops, and fitness programming. FY 2020 marked the second year of CBNs federal grant with the Administration for Community Living (ACL). Working with The Rockefeller University and Clinical Directors Network, CBN implemented the Dietary Approaches to Stop Hypertension (DASH) eating plan at two senior centers, increasing fruit and vegetable servings, and using more healthy fats, lean meats, and seafood in menus to reduce rates of hypertension. In FY 2020, CBN held its first Falls Prevention symposium in partnership with Weill Cornell Medicine, New York Presbyterian, Hunter Silberman School of Social Work, and Physician Affiliate Group of New York. The symposium featured expert-led lectures on the roles of fitness, brain health, and screening in falls prevention, as well as firsthand accounts from seniors who experienced major falls. There were 115 attendees of the symposium, including aging and health professionals, and seniors. In partnership with dedicated health and academic institutions such as Lenox Hill Northwell Health, Hospital for Special Surgery, Alzheimers Association, Hunter-Bellevue School of Nursing, and Columbia University, CBN provided expert-led workshops on falls prevention, nutrition, blood pressure, Alzheimers and dementia, medication management, and much more in FY 2020, serving 1,200 unique seniors through health workshops and 340 unique seniors through nutrition education workshops. Fitness classes offered at CBNs 4 senior centers help older adults remain active and improve strength, balance, flexibility, and cardiovascular health. Classes include Zumba, Yoga, Seated Yoga, Balance Fitness, and Self Defense. Evidence-based classes such as Tai Chi and Stay Active and Independent for Life (SAIL) support falls prevention. In FY 2020, CBN served 750 unique clients through fitness classes and 170 unique clients through evidence-based programs. OTHER PROGRAM SERVICES 5: Volunteers are critical to operations, helping CBN more effectively serve nearly 6,000 seniors each year. Through their dedication and expertise, volunteers brought smiles to the faces of older adults and provided critical services across CBNs 12 programs. In FY 2020, 1,601 volunteers provided 17,202 hours of service, valued at over $538,000. Just as CBN has adapted to changing needs and protocols throughout the pandemic, so too have its caring volunteers. Citymeals on Wheels has been a key partner in emergency meal provision, providing shelf-stable and frozen meals weekly, and working alongside dedicated Invisible Hands and New York Cares volunteers to package and deliver meals to seniors. Recognizing that isolation has only been exacerbated during the pandemic, volunteers led telephone re-assurance efforts to help assuage the loneliness, fears, and stressors experienced by seniors and ensured that they continue to feel supported. In FY 2020, CBNs Volunteer Services Department strengthened its capacity to engage volunteers and serve seniors through a critical grant-funded software upgrade. Acquiring CERVIS Volunteer Management Software, CBN streamlined its volunteer recruitment, registration, event management, follow-up, and reporting activities, automating previously manual processes to enable staff to focus on creating meaningful volunteer opportunities.

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

The Organization provides a money management assistance program to the homebound and elderly. As part of the program, the Organization maintains a bank account on behalf of its clients. The balance of $10,659 in the custodial account at June 30, 2020 is reflected on the statement of financial position as an asset and a liability.

Part V, Line 4: Intended uses of the endowment fund.

CBN maintains donor-restricted funds whose purpose is to provide long term support for its charitable programs.

Part X : FIN48 Footnote

The Organization does not believe its financial statements include any material, uncertain tax positions. Tax filings for the periods ended June 30, 2017 and later are subject to examination by applicable taxing authorities.

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