Bridge Street Development Corporation is located in Brooklyn, NY. The organization was established in 1996. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Bridge Street Development Corporation employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridge Street Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Bridge Street Development Corporation generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 6.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BRIDGE STREET DEVELOPMENT CORPORATION'S MISSION IS THREEFOLD: (1) DEVELOPING AND UPGRADING HOUSING IN LOW AND MODERATE INCOME FAMILIES IN THE BEDFORD-STUYVESANT AREA; (2) ENCOURAGING THE FORMATION OF BUSINESSES IN, AND RECRUITING PROSPECTIVE AND EXISTING BUSINESSES TO, BEDFOR-STUYVESANT; AND (3) DEVELOPING MANAGEMENT AND ADMINISTRATIVE CAPACITY THAT WILL ALLOW FOR THE CENTRALIZED PROVISION OF SUCH SERVICES TO THE SEVERAL CORPORATIONS AFFILIATED WITH BRIDGE STREET AFRICAN WESLEYAN METHODIST EPISCOPAL CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY ENGAGEMENT AND YOUTH WORKFORCE - BSDC'S COMMUNITY ENGAGEMENT AND YOUTH WORKFORCE PROGRAMS BUILDS AND SUSTAINS VIBRANT AND EQUITABLE NEIGHBORHOODS WITHIN CENTRAL BROOKLYN, BY BRINGING TOGETHER THE TALENTS, RESOURCES, AND SKILLS OF ITS RESIDENTS. THIS IS ACCOMPLISHED BY THE FOLLOWING: (1) PROVIDING SUPPORT SERVICES AND EDUCATIONAL WORKSHOPS TO LMI TENANTS; (2) YOUTH AND YOUNG ADULT INTERNSHIP AND CERTIFICATE TRAINING PROGRAMS SUCH AS OVER 1100 SYEP INTERNSHIPS FOR 14 - 24 YEAR OLDS, YEAR ROUND WPP INTERNSHIPS AND MOTIVATED YOUTH BUILDING ALL SELF-EMPOWERMENT (MYBASE) CIVIC ENGAGEMENT AND LEADERSHIP DEVELOPMENT PROGRAMS; AND, (3) ORGANIZING AND CONVENING BLOCK AND TENANT ASSOCIATIONS ON A MONTHLY BASIS.
BSDC'S HOMEOWNERSHIP, PRESERVATION AND HOUSING DEVELOPMENT - THE GOAL IS TO IMPROVE THE BEDFORD-STUYVESANT COMMUNITY BY REHABILITATING FORMER CITY- OWNED RESIDENTIAL PROPERTIES AND SELLING THEM AT PRICES BELOW MARKET VALUE. IT CREATES HOME OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME BUYERS, INCREASES THE ATTRACTIVENESS OF THE NEIGHBORHOOD, AND UPGRADES THE LIVING CONDITIONS OF EXISTING RESIDENTS. PROGRAM EXPENSES WERE 256,111. BSDC'S SENIOR SERVICES PROVIDES QUALITY HOUSING AT BELOW MARKET RENT FOR SENIORS,AND VARIOUS SUPPORT SERVICES ON SITE, SUCH AS MEAL ON WHEELS, WORKSHOPS,HOME HEALTH AIDES, MEDICARE ASSISTANCE AND OTHER EXTRA-CURRICULAR ACTIVITIES. PROGRAM EXPENSES WERE 189,016.
BSDC'S ECONOMIC DEVELOPMENT PROGRAM HAS FOUR OBJECTIVES: A) TO PROVIDE TECHNICAL AND PLANNING ASSISTANCE TO SMALL BUSINESS START-UPS B) DEVELOP COMMERCIAL SPACE FOR BUSINESS C) IMPLEMENT NEIGHBORHOOD RETAIL INITIATIVES TO ATTRACT AND RETAIN BUSINESSES AND JOBS D) OFFER EMPOWERING FINANCIAL LITERACY PROGRAMS AND BUSINESS PLANNING COURSES, AS WELL AS FIRST-TIME HOMEBUYER WORKSHOPS.
RESTORATIVE JUSTICE - BSDC'S RESTORATIVE JUSTICE PROGRAM, PROJECT RESTORE BEDSTUY (PRB), IS AN IMMERSIVE, YEAR-LONG, INITIATIVE DESIGNED TO ASSIST YOUNG MEN IN NEED OF SUPPORT DUE TO THEIR INVOLVEMENT IN STREET FORMATIONS. THE PROJECT IS A COLLABORATION BETWEEN MANY COMMUNITY AND CITY STAKEHOLDERS. PRB PROVIDES ITS PARTICIPANTS WITH MENTORSHIP, WRAP-AROUND SUPPORT, AND THE RESOURCES TO HELP THEM REGAIN CONTROL OF THEIR LIVES. CORE COMPONENTS INCLUDE ACCESS TO SOCIAL RESOURCES AND SERVICES, PAID INTERNSHIP EMPLOYMENT, TARGETED EDUCATION, AND IMPORTANT LIFE SKILLS. ADDITIONALLY, THROUGH RESTORATIVE JUSTICE AND TRAUMA-INFORMED PROGRAMMING, IT ALLOWS PARTICIPANTS TO TAKE RESPONSIBILITY FOR ANY HARM CAUSED, WHILE ALSO HEALING FROM ANY HARM THEY MAY HAVE EXPERIENCED THEMSELVES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Edward Odom Jr Chairman | OfficerTrustee | 1 | $0 |
Phyllis White-Thorne Vice Chair | OfficerTrustee | 1 | $0 |
Abitzel Robitson-Hobson Treasurer | OfficerTrustee | 1 | $0 |
Valerie Kenderick-Cousin Secretary | OfficerTrustee | 1 | $0 |
Drexel Harris Member | Trustee | 1 | $0 |
Sowonee Duworko Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,476,100 |
All other contributions, gifts, grants, and similar amounts not included above | $968,923 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,445,023 |
Total Program Service Revenue | $314,470 |
Investment income | $712 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,763,736 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,478,074 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $143,953 |
Payroll taxes | $142,048 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $9,900 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $304,107 |
Advertising and promotion | $2,098 |
Office expenses | $31,061 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $90,938 |
Travel | $626 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $7,298 |
Insurance | $20,397 |
All other expenses | $31,059 |
Total functional expenses | $2,636,980 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $65,063 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $994,642 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $14,001 |
Investments—publicly traded securities | $23,281 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,113,064 |
Total assets | $2,210,051 |
Accounts payable and accrued expenses | $21,206 |
Grants payable | $0 |
Deferred revenue | $89,590 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $253,304 |
Total liabilities | $364,100 |
Net assets without donor restrictions | $1,802,251 |
Net assets with donor restrictions | $43,700 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,210,051 |