Manhattan and Bronx Surface Transit Operating Authority
501(c)(3) Donations tax-deductible
75% goes to programs $0 to raise $100 Thin reserves Growing revenue
Manhattan and Bronx Surface Transit Operating Authority is a 501(c)(3) organization based in New York, New York, registered in 1983, with $736,105,241 in FY2024 revenue. CharityIndex grades it C, and it directs about 75% of spending to programs.
2 Broadway 15th Fl Rm A1556, New York, NY, 10004 EIN 13-1961750 Since 1983
Revenue (FY2024)
$736.1M
▼ 0.1% vs prior year
Expenses (FY2024)
$1.7B
Net assets
-$1.1B
Employees
8,788
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →C+Program efficiency40% of the rating75% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Manhattan and Bronx Surface Transit Operating Authority: 75% to programs · $0 to raise $100 earns a C+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating0 mo reserves · -135% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Manhattan and Bronx Surface Transit Operating Authority: 0 mo reserves · -135% margin earns a F on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Manhattan and Bronx Surface Transit Operating Authority: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Manhattan and Bronx Surface Transit Operating Authority: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Provide public transporation in new york city boroughs of manhattan and the bronx
Contact & location
Financial trends
Revenue declined from $1.2B (FY2013) to $736.1M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $2.5BNet assets -$1.1B
Operating margin
-135.1%
Spent more than it raised in the latest fiscal year.
Total assets
$1.4B
Total liabilities
$2.5B
Net assets
-$1.1B
Salaries & benefits
$1.4B
83% of expenses
Board members
19
19 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $736,105,241▼0.1% | $1,730,569,938▼4.9% | -$1,094,817,614▲14.2% | $1,399,766,819▼0.2% | 990 |
| 2023 | $736,953,371▼11.3% | $1,819,870,926▲14.1% | -$1,276,398,382▼67.0% | $1,402,807,193▲45.5% | 990 |
| 2022 | $830,723,073▲73.1% | $1,594,979,334▲0.7% | -$764,276,739▲43.5% | $964,166,944▲9.8% | 990 |
| 2021 | $479,993,180▼14.1% | $1,583,553,493▲8.1% | -$1,352,356,259▲1.7% | $878,462,453▲19.1% | 990 |
| 2020 | $558,511,422▼42.1% | $1,464,961,478▼5.2% | -$1,376,166,667▼104% | $737,379,301▼49.5% | 990 |
| 2019 | $964,112,109▲1.0% | $1,545,378,301▼0.4% | -$673,476,304▲74.3% | $1,458,815,791▼6.8% | 990 |
| 2018 | $954,963,940▼1.8% | $1,551,184,238▼7.7% | -$2,618,825,803▲26.7% | $1,564,443,447▲27.5% | 990 |
| 2017 | $972,380,639▼6.5% | $1,680,679,308▼3.0% | -$3,571,855,241▼120% | $1,227,407,887▼26.1% | 990 |
| 2016 | $1,039,602,932▲6.2% | $1,732,772,830▲8.4% | -$1,624,281,456▼78.6% | $1,660,755,130▼16.8% | 990 |
| 2015 | $978,873,805▼15.6% | $1,597,808,786▼2.4% | -$909,622,014▼23.3% | $1,997,116,530▲6.9% | 990 |
| 2014 | $1,160,373,522▲0.8% | $1,637,663,350▲7.0% | -$737,525,047▼12.9% | $1,868,677,082▲19.8% | 990 |
| 2013 | $1,151,303,231 | $1,530,087,341▲11.9% | -$653,345,161▼42.9% | $1,560,460,143▲20.2% | 990 |
| 2012 | — | $1,367,951,110▼5.8% | -$457,247,514▲53.3% | $1,297,872,866▲98.2% | 990 |
| 2011 | — | $1,451,767,016▲9.7% | -$978,829,710▼47.2% | $654,964,282▲6.3% | 990 |
| 2010 | — | $1,323,503,534 | -$664,749,606 | $616,255,124 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Frank Salvato — $337,467 (0.02% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Frank Salvato | Sr Vice President | 40 | $337,467 |
| Samuel Schaffner | Sr Vice President | 40 | $305,679 |
| Thomas Hanley | Vice President | 40 | $293,787 |
| Frank Annicaro | Vice President | 40 | $287,613 |
| Sofia Georgiadis | Vice President | 40 | $282,539 |
| Andew Albert | Board of Director | — | — |
| Blanca P Lopez | Board of Director | — | — |
| Christopher Leathers | Board of Director | — | — |
| Daniel Garodnick | Board of Director | — | — |
| David R Jones | Board of Director | — | — |
| David S Mack | Board of Director | — | — |
| Edward Valente | Board of Director | — | — |
| Gerard Bringmann | Board of Director | — | — |
| Haeda M Mihaltses | Board of Director | — | — |
| James O'donnell | Board of Director | — | — |
| Janno Leiber | Ceo Chairman | 40 | — |
| John-ross Rizzo | Board of Director | — | — |
| John Samuelson | Board of Director | — | — |
| Lisa Sorin | Board of Director | — | — |
| Marc Herbst | Board of Director | — | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Gersowitz Libo Korek PC | Legal Services | $6,721,132 |
| Subin Associates LLP | Legal | $5,198,651 |
| Elefterakis Elefterakis Panek Es | Legal | $3,486,542 |
| Bisogno Meyerson LLP | Legal | $1,803,784 |
| Wingate Russotti Shapiro Moses LLP | Legal | $1,671,176 |
Frequently asked questions
- Is Manhattan and Bronx Surface Transit Operating Authority a legitimate nonprofit?
- Yes. Manhattan and Bronx Surface Transit Operating Authority is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 13-1961750, based in New York, New York. Donations are tax-deductible.
- What is Manhattan and Bronx Surface Transit Operating Authority's EIN?
- Manhattan and Bronx Surface Transit Operating Authority's Employer Identification Number (EIN) is 13-1961750.
- How much revenue does Manhattan and Bronx Surface Transit Operating Authority report?
- Manhattan and Bronx Surface Transit Operating Authority reported $736,105,241 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Manhattan and Bronx Surface Transit Operating Authority's spending goes to programs?
- Manhattan and Bronx Surface Transit Operating Authority spends about 75% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Manhattan and Bronx Surface Transit Operating Authority have?
- CharityIndex grades Manhattan and Bronx Surface Transit Operating Authority C, based on program efficiency and fundraising cost.
- How much does Manhattan and Bronx Surface Transit Operating Authority's highest-paid employee make?
- The highest reported compensation on Manhattan and Bronx Surface Transit Operating Authority's latest Form 990 is $337,467, paid to Frank Salvato (Sr Vice President).
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Data for Manhattan and Bronx Surface Transit Operating Authority (EIN 13-1961750) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.