Overview
What is Fifth Avenue Association Business Improvement District Inc?
Fifth Avenue Association Business Improvement District Inc, situated in New York City, is a nonprofit organization primarily focused on promoting the economic growth and vitality of a specific business district. They accomplish this by delivering supplementary security and sanitation services to the businesses, their employees, and tourists in the area. Specifically, they maintain clean streets, curbs, and remove garbage to ensure a pleasant environment for everyone. Their mission extends beyond economic development, as they also work towards enhancing the general welfare of the people living and working in the Fifth Avenue area of New York, as approved by the City Council. With a team of 57 employees, they contribute to the overall well-being and attractiveness of the district.
Official website here: www.fifthavenuebid.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The Fifth Avenue Association Business Improvement District Inc has achieved a commendable Three-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. The overall score is primarily driven by their high accountability metrics, particularly with 100% of board members being independent and a solid financial oversight system in place. This indicates a commitment to transparency and responsible financial management.
Strengths of the organization include an excellent program expense ratio of 93.03%, suggesting that a significant portion of resources is directed toward their core programs. Furthermore, the absence of material diversion of assets underscores their financial integrity. However, while they excel in many areas, the organization lacks certain policies such as a whistleblower policy and a document retention policy, which could limit their governance effectiveness.
Despite the noted limitations, the overall financial health of the organization appears strong with a liabilities to assets ratio of 42.22%. This indicates that they maintain a good balance between their debts and assets, allowing them to operate sustainably. Overall, the Fifth Avenue Association demonstrates a solid commitment to its mission, although addressing the missing governance policies could enhance their accountability further.
This AI summary has been generated from information found on Charity Navigator.
Is Fifth Avenue Association Business Improvement District Inc legitimate?
Fifth Avenue Association Business Improvement District Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fifth Avenue Association Business Improvement District Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $360,087
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,403,315
For more financial information, click here
Official website here: www.fifthavenuebid.com
What is the mission statement of Fifth Avenue Association Business Improvement District Inc?
The Fifth Avenue Association Business Improvement District Inc's mission is centered around promoting the economic growth and vitality of a specific business district. Beyond this, their role extends to enhancing the general well-being of the community within this district, as outlined in their approved plan. They provide supplementary security and sanitation services to the businesses, their employees, and tourists in the area. Specifically, they are responsible for maintaining clean streets, curbs, and overseeing garbage removal.
Official website here: www.fifthavenuebid.com
Who is the CEO of Fifth Avenue Association Business Improvement District Inc?
Marie Boster is the Board Chair of Fifth Avenue Association Business Improvement District Inc.
Official website here: www.fifthavenuebid.com
What is the revenue of Fifth Avenue Association Business Improvement District Inc?
Fifth Avenue Association Business Improvement District Inc's revenue in 2022 was $6,747,998.
Official website here: www.fifthavenuebid.com
Who are the executives of Fifth Avenue Association Business Improvement District Inc and what are their salaries?
The average compensation at Fifth Avenue Association Business Improvement District Inc during 2022 was $48,481. There are 57 employees and 26 volunteers at Fifth Avenue Association Business Improvement District Inc.
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Official website here: www.fifthavenuebid.com
Where can I find the form 990 for Fifth Avenue Association Business Improvement District Inc?
Fifth Avenue Association Business Improvement District Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fifthavenuebid.com
Learn more at the official website: www.fifthavenuebid.com
Mission Statement of Fifth Avenue Association Business Improvement District Inc
The Fifth Avenue Association Business Improvement District Inc is committed to fostering economic growth and vitality within its designated area in New York City. Its primary mission is to enhance the general welfare of the people residing in and visiting this district, as outlined in the Fifth Avenue Business Improvement District Plan, which was approved by the City Council of New York City. To accomplish this, the organization provides supplementary security and sanitation services to businesses, their employees, and tourists in the area.
In terms of sanitation, the Fifth Avenue Association Business Improvement District Inc is responsible for maintaining clean streets and curbs, ensuring garbage removal is carried out effectively, and contributing to the overall aesthetic appeal of the district. By doing so, the organization aims to create a welcoming and attractive environment for both locals and visitors, thereby promoting economic growth and vitality. This proactive approach to maintaining the physical environment of the district is a crucial component of the organization's mission to improve the well-being of the people within its boundaries.
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Impact
October, 2024
The Fifth Avenue Association Business Improvement District Inc significantly contributes to the economic growth and vitality of its designated area in New York City. By focusing on maintaining clean streets, curbs, and effective garbage removal, it enhances the overall appearance and appeal of the district. This attention to sanitation not only benefits local businesses by attracting more foot traffic but also creates a welcoming environment for residents and tourists alike.
Additionally, the organization provides supplementary security services, which boosts public safety and fosters a sense of community. By prioritizing the general welfare of people in the Fifth Avenue area, it supports the local economy and helps create a vibrant atmosphere that encourages shopping, dining, and exploration. The Fifth Avenue Association plays a crucial role in ensuring that the area remains an attractive and thriving destination in one of New York City's most iconic locations.
This information is meant to be a general summary of Fifth Avenue Association Business Improvement District Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $7,995
- Program Service Revenue: $6,690,003
- Gross Receipts: $6,747,998
Assets and Liabilities:
- Total Assets: $1,371,227
- Total Liabilities: $379,213
- Net Assets: $992,014
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TAX ASSESSMENTS
Revenue
$6,414,000
PROGRAM SERVICE INCOME
Revenue
$276,003
Organization Details
Founding Year
1993
Phone
(212) 265-1310Principal Officer
Marie Boster
Main Address
16 EAST 52ND ST 3FL, NEW YORK, NY, 10022
Website
www.fifthavenuebid.comNTEE Category
Code: S20 - Community improvement
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