Civic Intelligence

Pacific Park Conservancy Inc

EIN 82-2723956 • 501(c)3 • Brooklyn, NY

Profile

Own, plan, program, operate, maintain, secure, and improve for public recreational and other charitable use, the planned publicly accessible open space being developed as part of the atlantic yards land use improvement and civic project in the borough of brooklyn, new york ("pacific park").

1 Metrotech Center 18 FLBrooklyn, NY 11201

n/A

Siviq Scores

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

Liabilities / Assets

74th percentile

0.31x

Higher debt load relative to assets than 74% of similar nonprofits.

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

Liabilities / Revenue

74th percentile

0.32x

Higher debt load relative to revenue than 74% of similar nonprofits.

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

Net Margin

45th percentile

2.1%

Higher net margin than 45% of similar nonprofits.

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

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

73rd percentile

15%

Faster asset growth than 73% of similar nonprofits.

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

Revenue Growth

53rd percentile

9.0%

Faster revenue growth than 53% of similar nonprofits.

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

Assets

Up

$1,158,101

Up $151,737 (+15%) from 2023

Liabilities

Up

$356,859

Up $125,044 (+54%) from 2023

Net Assets

Up

$801,242

Up $26,693 (+3.4%) from 2023

Revenue

Up

$1,115,783

Up $91,740 (+9.0%) from 2023

Expenses

Up

$1,091,854

Up $434,065 (+66%) from 2023

Net Income

Down

$23,929

Down $342,325 (-93%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2020: $100,000Liabilities 2020: $0Net Assets 2020: $100,0002020Assets 2021: $411,615Liabilities 2021: $240,554Net Assets 2021: $171,0612021Assets 2022: $551,990Liabilities 2022: $0Net Assets 2022: $551,9902022Assets 2023: $1,006,364Liabilities 2023: $231,815Net Assets 2023: $774,5492023Assets 2024: $1,158,101Liabilities 2024: $356,859Net Assets 2024: $801,2422024

Highlighted filing

2024

Assets$1,158,101
Liabilities$356,859
Net Assets$801,242

Operations Trend

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

$1.5M$1.0M$500K$0Revenue 2020: $100,000Expenses 2020: $0Net Income 2020: $100,0002020Revenue 2021: $1,080,918Expenses 2021: $1,009,857Net Income 2021: $71,0612021Revenue 2022: $444,075Expenses 2022: $279,253Net Income 2022: $164,8222022Revenue 2023: $1,024,043Expenses 2023: $657,789Net Income 2023: $366,2542023Revenue 2024: $1,115,783Expenses 2024: $1,091,854Net Income 2024: $23,9292024

Highlighted filing

2024

Revenue$1,115,783
Expenses$1,091,854
Net Income$23,929

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 1, 2023
Return Version
2022v5.0
Gross Receipts
$444,075
Mission and Program Overview

Mission

Own, plan, program, operate, maintain, secure, and improve for public recreational and other charitable use, the planned publicly accessible open space being developed as part of the atlantic yards land use improvement and civic project in the borough of brooklyn, new york ("pacific park").

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$353,949$476,580▲ $122,631
Prepaid Expenses and Deferred Charges$23,658$67,974▲ $44,316
Land, Buildings, and Equipment, Net$9,561$7,436▼ $2,125
Total Assets$387,168$551,990▲ $164,822
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$387,168$551,990▲ $164,822
Total Net Assets Fund Balance$387,168$551,990▲ $164,822
Total Liabilities and Net Assets / Fund Balance$387,168$551,990▲ $164,822

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,436$3,187$10,623
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ashley CottonChairperson/president
Alyson BehaDirector
Amir SteinDirector
Josie MokDirector
Rick MasonDirector
Scott SolishDirector
Suma MandelDirector
Allen GongFormer Director
Glinda AndrewsFormer Director
John BowenFormer Director
Martin MaherFormer Director
Peter D FlemingFormer Director
Stephanie RosenbergFormer Secretary
Lemore CzeislerFormer Treasurer
Renduo ChengSecretary
Jen KuangTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$444,075
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$164,822
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$279,253
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance-$151,781-$151,781
Fees for Services Legal-$95,397-$95,397
Other Expenses$10,583--$10,583
Depreciation Depletion-$2,125-$2,125
Fees for Services Accounting-$402-$402
Total Functional Expenses$29,548$249,705$0$279,253
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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, Section B, Line 11B

The 990 is reviewed by the treasurer and president prior to filing.

Form 990, Part VI, Section B, Line 12C

The minutes of the conservancy's reviewing body reviewing a related party transaction, other conflict of interest or potential conflict of interest shall be prepared on a contemporaneous basis and shall contain, as appropriate: (i) the names of the persons who disclosed or otherwise were found to have a conflict of interest or a potential conflict of interest, the nature and material facts of the interest, any action taken to determine whether a conflict of interest was present, and the reviewing body decision as to whether a related party transaction or other conflict of interest in fact existed; (ii) the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings; (iii) a statement that the transaction was found to be "fair, reasonable and in the corporation's best interest at the time of such determination" (required for related party transactions); and (iv) if the related party has a substantial financial interest in a related party transaction, the minutes must contain the basis for the approval, including a description of the alternative transactions considered.

Form 990, Part VI, Section C, Line 19

The conservancy makes its governing documents, conflict of interest policy and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Pacific Park Conservancy Inc
EIN
82-2723956
Phone
7185595115
Address
1 METROTECH CENTER 18 FL, BROOKLYN, NY 11201

Signing Officer

Name
Jen Kuang
Title
Treasurer
Phone
7185595115
Signed
2023-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jen Kuang
Formed
2017
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Buchbinder Tunick & Co Llp
Address
ONE PENN PLAZA - SUITE 3200, NEW YORK, NY 10119-0002
Preparer
Ted Kirshenbaum
Phone
2126955003
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Item 2C

The process has not changed from the prior year.

Raw XML Appendix380 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt00
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IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt07436
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03187
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010623
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07436
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE TREASURER AND PRESIDENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MINUTES OF THE CONSERVANCY'S REVIEWING BODY REVIEWING A RELATED PARTY TRANSACTION, OTHER CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST SHALL BE PREPARED ON A CONTEMPORANEOUS BASIS AND SHALL CONTAIN, AS APPROPRIATE: (I) THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A CONFLICT OF INTEREST OR A POTENTIAL CONFLICT OF INTEREST, THE NATURE AND MATERIAL FACTS OF THE INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE REVIEWING BODY DECISION AS TO WHETHER A RELATED PARTY TRANSACTION OR OTHER CONFLICT OF INTEREST IN FACT EXISTED; (II) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS; (III) A STATEMENT THAT THE TRANSACTION WAS FOUND TO BE "FAIR, REASONABLE AND IN THE CORPORATION'S BEST INTEREST AT THE TIME OF SUCH DETERMINATION" (REQUIRED FOR RELATED PARTY TRANSACTIONS); AND (IV) IF THE RELATED PARTY HAS A SUBSTANTIAL FINANCIAL INTEREST IN A RELATED PARTY TRANSACTION, THE MINUTES MUST CONTAIN THE BASIS FOR THE APPROVAL, INCLUDING A DESCRIPTION OF THE ALTERNATIVE TRANSACTIONS CONSIDERED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONSERVANCY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, ITEM 2C
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0249705
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt029548
IRS990/TotalFunctionalExpensesGrp/TotalAmt0279253
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0444075
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IRS990/USAddress/AddressLine1Txt01 METROTECH CENTER 18 FL
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011201
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEN KUANG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07185595115
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PACIFIC PARK CONSERVANCY INC
ReturnHeader/Filer/BusinessNameControlTxt0PACI
ReturnHeader/Filer/EIN0822723956
ReturnHeader/Filer/PhoneNum07185595115
ReturnHeader/Filer/USAddress/AddressLine1Txt01 METROTECH CENTER 18 FL
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0131578842
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUCHBINDER TUNICK & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE PENN PLAZA - SUITE 3200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0101190002
ReturnHeader/PreparerPersonGrp/PhoneNum02126955003
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TED KIRSHENBAUM
ReturnHeader/ReturnTs02023-08-03T09:21:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KUANG
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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