Civic Intelligence

City Report Inc

EIN 37-1896785 • 501(c)3 • New York, NY

Profile

CITY REPORT, INC. serves the people of New York through independent journalism that answers their information needs and holds the powerful to account.

85 Broad Street 12th FloorNew York, NY 10004

www.thecity.nyc

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

75th percentile

0.31x

Higher debt load relative to assets than 75% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

0.25x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

14th percentile

-21%

Higher net margin than 14% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

22nd percentile

-5.3%

Faster asset growth than 22% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

74th percentile

27%

Faster revenue growth than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$3,574,659

Down $201,673 (-5.3%) from 2023

Liabilities

Up

$1,122,663

Up $739,611 (+193%) from 2023

Net Assets

Down

$2,451,996

Down $941,284 (-28%) from 2023

Revenue

Up

$4,490,787

Up $942,196 (+27%) from 2023

Expenses

Down

$5,432,071

Down $1,644,284 (-23%) from 2023

Net Income

Up

-$941,284

Up $2,586,480 (+73%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2019: $2,916,975Liabilities 2019: $239,698Net Assets 2019: $2,677,2772019Assets 2020: $4,323,220Liabilities 2020: $723,634Net Assets 2020: $3,599,5862020Assets 2021: $6,536,494Liabilities 2021: $99,505Net Assets 2021: $6,436,9892021Assets 2022: $7,612,773Liabilities 2022: $691,729Net Assets 2022: $6,921,0442022Assets 2023: $3,776,332Liabilities 2023: $383,052Net Assets 2023: $3,393,2802023Assets 2024: $3,574,659Liabilities 2024: $1,122,663Net Assets 2024: $2,451,9962024

Highlighted filing

2024

Assets$3,574,659
Liabilities$1,122,663
Net Assets$2,451,996

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2019: $5,264,064Expenses 2019: $2,586,787Net Income 2019: $2,677,2772019Revenue 2020: $5,328,707Expenses 2020: $4,406,398Net Income 2020: $922,3092020Revenue 2021: $7,232,654Expenses 2021: $4,395,251Net Income 2021: $2,837,4032021Revenue 2022: $6,365,275Expenses 2022: $5,881,220Net Income 2022: $484,0552022Revenue 2023: $3,548,591Expenses 2023: $7,076,355Net Income 2023: -$3,527,7642023Revenue 2024: $4,490,787Expenses 2024: $5,432,071Net Income 2024: -$941,2842024

Highlighted filing

2024

Revenue$4,490,787
Expenses$5,432,071
Net Income-$941,284

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 3, 2026
Return Version
2024v5.1
Gross Receipts
$4,490,787
Mission and Program Overview

Mission

The city launched in april 2019 as a nonprofit, nonpartisan, digital news platform dedicated to hard-hitting reporting that serves the people of new york.

CITY REPORT, INC. serves the people of New York through independent journalism that answers their information needs and holds the powerful to account.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$2,238,000$2,117,380▼ $120,620
Cash and Non-Interest-Bearing Accounts$1,274,375$972,450▼ $301,925
Prepaid Expenses and Deferred Charges$37,968$10,081▼ $27,887
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$3,776,332$3,574,659▼ $201,673
Other Assets Total$225,989$474,748▲ $248,759
Liabilities
Mortgage Notes Payable Secured by Investment Property$100,000$500,000▲ $400,000
Other Liabilities$169,156$442,879▲ $273,723
Accounts Payable and Accrued Expenses$109,191$179,784▲ $70,593
Deferred Revenue$4,705$0▼ $4,705
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$383,052$1,122,663▲ $739,611
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,333,000$1,377,500▼ $955,500
Net Assets Without Donor Restrictions$1,060,280$1,074,496▲ $14,216
Total Net Assets Fund Balance$3,393,280$2,451,996▼ $941,284
Total Liabilities and Net Assets / Fund Balance$3,776,332$3,574,659▼ $201,673

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$41,667--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicholas DawesExecutive DirectorFT$260,279$62,855$323,134
Richard KimEditor-in-ChiefFT$223,290$36,782$260,072
Alyssa KatzExecutive EditorPT$153,845$60,697$214,542
Harry SiegelSenior EditorPT$111,893$61,328$173,221
Lyle Hasani GittensDeputy EditorPT$145,440$11,308$156,748
Martin GottliebSenior EditorPT$117,929$2,179$120,108
Greg SmithSenior ReporterPT$118,222$1,605$119,827

Board Members and Trustees

NameTitle
Jamie Alter LyntonCo-Chair
Sarah BartlettCo-Chair
Mark ColodnyVice Chair
Don BaerBoard Member
Luis Miranda JrBoard Member
Mark Winston GriffithBoard Member
Marsha CookeBoard Member
Perri PeltzBoard Member
Richard MurrayBoard Member
Rob SpeyerBoard Member
Susan KaneBoard Member
Gary GinsbergBoard Member (Thru December 2024)
Elizabeth McNamaraSecretary
Fannie ChenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,361,640
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$129,147
All Other Contributions
$3,153,699
Change in Net Assets
$-941,284

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,490,787
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$112,274
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$4,603,061
Total Revenue per Form 990
$4,490,787
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,892,127
Other Expenses$1,402,444
Total Fundraising Expense$556,543
Professional Fundraising Fees$137,500
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,178,743$208,582$156,669$2,543,994
Current Officers, Directors, Trustees, and Key Employees$367,784$107,711$107,711$583,206
Fees for Services Other$288,989$208,038$38,912$535,939
Other Employee Benefits$406,739$56,859$22,908$486,506
Occupancy$183,936$85,814$15,536$285,286
Payroll Taxes$202,583$33,773$18,861$255,217
Fees for Services Accounting-$228,395-$228,395
Information Technology$171,539$4,455$7,315$183,309
Fees for Services Professional Fundraising--$137,500$137,500
Office Expenses$29,638$22,309$43,786$95,733
Insurance$6,184$24,020$541$30,745
Pension Plan Contributions$19,208$2,824$1,172$23,204
Travel$16,669$5,205$412$22,286
Fees for Services Legal-$9,994-$9,994
Advertising$1,465$238$3,981$5,684
Conferences and Meetings$2,982$852$1,239$5,073
Total Functional Expenses$3,876,459$999,069$556,543$5,432,071

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,544,345
Expenses per Audited Statements$5,432,071
Total Expenses per Form 990$5,432,071
Expenses Not Reported on Form 990$112,274
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$137,500
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$435,684
Lease Liability$7,195
401K Employee Share-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 Review of form 990 by governing body

City report, inc.'s financial consultant reviews the form 990, followed by a review by the executive director and ceo, and then by the finance committee and executive committee of the board.

Form 990, Part VI, Line 12C Conflict of interest policy

Directors and officers are required to complete a conflict of interest disclosure statement annually and update their disclosure statement promptly if there is any material change in the information provided. If a conflict arises, the interested party should promptly disclose the material facts of any actual or possible conflict of interest prior to any deliberation or voting. The person with a conflict of interest may participate in the discussion related to the transaction but shall not participate in and shall refrain from improperly influencing the deliberations or voting on the matter.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The board conducts periodic reviews of officer compensation. In october 2022 city report worked with a consultant to validate the compensation of all employees. The organization surveyed compensation levels at other nyc-based local and national news outlets, and implemented a banding structure to ensure fairness and equity across the organization.

Form 990, Part VI, Line 19 Required documents available to the public

The financial statements and a summary of the conflict-of-interest policy appears on the organization's website.

Filing and Contact Details

Filer

Filer Name
City Report Inc
EIN
37-1896785
Phone
9176710401
Address
85 Broad Street 12th Floor, New York, NY 10004

Signing Officer

Name
Carroll Bogert
Title
Chief Executive Officer
Phone
9176710401
Signed
2026-03-03
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
De
Voting Board Members
13
Independent Board Members
13
Employees
38
Volunteers
14

Preparer

Firm
Forvis Mazars LLP
Address
135 West 50th Street, New York, NY 10020
Preparer
Aaron Shapiro
Phone
2128127000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A DESCRIPTION

Our approach we believe all new yorkers have a right to trustworthy, free journalism that supports participation in civic life and fosters better governance. Other outlets serve up a daily drumbeat of crime stories and city hall press releases. There are plenty of stories about the wealthiest zip codes, and it's not hard to find partisan coverage of local issues playing to a national audience. We believe new york city deserves better. At the city we are dedicated to rigorous accountability reporting with a focus on systemic issues, the real-world impact of policy choices and the conduct of those who exercise power. But we don't just reveal wrongdoing. We want everyone to be empowered by our journalism. That's why we invest in reporting that is actively helpful, offering both plain-language guides and data-driven apps that make it easier to vote, access public services, or just make sense of complex issues. And we listen, asking communities online and in person to help guide our journalism by flagging their concerns, giving us feedback, and sharing ideas. Our impact we want our journalism to result in better outcomes for the people of new york. That means wrongdoing is called out and halted; that better policies are implemented; and that resources are more effectively and fairly allocated. The city's investigative reporting has resulted in criminal indictments, political resignations and ethics inquiries. It has inspired new laws, influenced budget choices and reversed injustices. Full access to trusted journalism also means that the public conversation is better informed and more reflective of the experiences of all who live here - and that leads to government officials being more responsive to their constituents. The city's stories are republished for free by scores of community outlets and frequently cited by elected officials, advocates and local leaders. Finally, our work aims to help individual readers make good decisions and feel connected to their neighborhoods, and to new york. The city's explanatory journalism has helped hundreds of thousands of new yorkers to vote, keep their apartments warm, stay safe in dangerous weather, and access public assistance. Our team the city's reporters and editors know new york city and are committed to its future. They bring knowledge, passion and a diverse range of experiences to the task of covering our shared home. Subject matter experts provide deeply informed coverage on crucial beats like housing, the economy, criminal justice, labor, migration, climate change, and city hall in collaboration with neighborhood specialists, data reporters and investigative journalists. Our team includes veterans from new york's storied tabloids and reporters from national and hyper-local publications alike. They bring a wide-range of experience and a passion for innovation to the task of covering new york in journalism's fast- changing landscape. Our funding quality journalism is expensive - and digital advertising just isn't lucrative enough to pay for it. Because we want our reporting to be accessible to everyone, we have no paywall. Instead, the city is supported by our readers, individual donors, foundations, and corporate sponsors. We are proud of our donors and grateful for their willingness to fund our work with no expectation of influencing our coverage.

Form 990, Page 1, Box B Amended Return

The form 990 is being amended due to the issuance of the audited financial statements. Changes were made to parts i, iv, viii, ix, and xii. Also, there were changes to schedules a and d.

Financial Statement Notes

Schedule D, Part X, Line 2 ASC 740 FOOTNOTE

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

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