Business Outreach Center Network Inc
- Assets
- $4.4m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 60
- Location
- Brooklyn, NY
- Founding
- 05/1996
- Data as of
- 06/2022
- EIN
- 11-3306111
Organization Overview
Business Outreach Center Network Inc is located in Brooklyn, NY. The organization was established in 1996. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Business Outreach Center Network Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Outreach Center Network Inc 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 06/2022, Business Outreach Center Network Inc generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $4.9m during the year ending 06/2022. While expenses have increased by 11.6% per year over the past 7 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.
Since 2016, Business Outreach Center Network Inc has awarded 27 individual grants totaling $1,165,824. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ECONOMICALLY EMPOWER INDIVIDUALS AND CREATE JOBS IN LOW-INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MICROENTERPRISE AND MINORITY BUSINESS DEVELOPMENT PROGRAMS - PROVIDE BUSINESS SERVICES TO UNDER-SERVED ENTREPRENEURS, ACCESS TO CONTRACTS AND FINANCING AND CAPACITY-BUILDING SERVICES TO ORGANIZATIONS.
INDUSTRIAL BUSINESS SERVICES PROGRAMS - PROVIDES ASSISTANCE FOR SMALL AND MEDIUM-SIZED INDUSTRIAL, MANUFACTURING, TRANSPORTATION AND CONSTRUCTION FIRMS IN NEW YORK CITY, WITH A SPECIAL FOCUS ON SUPPORTING AND IMPROVING THE QUEENS CENTRAL AND BROOKLYN EAST INDUSTRIAL BUSINESS ZONES AND SUPPORT EQUITABLE INDUSTRIAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Carin Executive Dir. | OfficerTrustee | 29 | $230,750 |
Rodney Santiago Cpo | Officer | 16 | $168,475 |
Elena Zikuss CFO | Officer | 33 | $154,755 |
Quincy Ely-Cate Program Director | 40 | $107,836 | |
Roxanne Neilson Program Director | 40 | $106,772 | |
Lauren Evans Sr Program Manager | 5 | $102,585 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,671,691 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,494,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,165,711 |
| Total Program Service Revenue | $240,175 |
| Investment income | $0 |
| 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 | $5,405,936 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $434,315 |
| Grants and other assistance to domestic individuals. | $6,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $352,875 |
| Compensation of current officers, directors, key employees. | $127,629 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,247,260 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $447,737 |
| Payroll taxes | $201,771 |
| Fees for services: Management | $247,659 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,678 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $308,857 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $307,653 |
| Travel | $2,017 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,530 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,837 |
| All other expenses | $4,305 |
| Total functional expenses | $4,887,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,384,157 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,545,687 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $354,796 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,810 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $187,498 |
| Intangible assets | $0 |
| Other assets | $865,370 |
| Total assets | $4,372,318 |
| Accounts payable and accrued expenses | $464,142 |
| Grants payable | $0 |
| Deferred revenue | $598,043 |
| 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 | $250,000 |
| Other liabilities | $62,300 |
| Total liabilities | $1,374,485 |
| Net assets without donor restrictions | $1,980,587 |
| Net assets with donor restrictions | $1,017,246 |
| 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 | $4,372,318 |
Grants Awarded
Over the last fiscal year, Business Outreach Center Network Inc has awarded $426,315 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: Open for Business Program | $127,189 |
North White Plains, NY PURPOSE: Open for Business Program | $115,375 |
Staten Island, NY PURPOSE: Open for Business Program | $60,000 |
New York, NY PURPOSE: Ascend NY program | $46,035 |
Brooklyn, NY PURPOSE: Ascend NY program | $31,000 |
Bronx, NY PURPOSE: Ascend NY program | $22,160 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Business Outreach Center Network Inc has recieved totaling $512,505.
| Awarding Organization | Amount |
|---|---|
Citi Foundation New York, NY PURPOSE: SMALL BUSINESS TECHNICAL ASSISTANCE INITIATIVE | $500,000 |
Association Of Womens Business Centers Washington, DC PURPOSE: GENERAL SUPPORT | $12,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telecom Infra Project Inc Wakefield, MA | $19,363,144 | $19,879,167 |
Northeast Gas Association Inc Needham, MA | $15,830,312 | $17,592,560 |
International Trademark Association Inc New York, NY | $31,452,258 | $17,397,846 |
American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |
Northeast Power Coordinating Council Inc New York, NY | $13,480,521 | $16,289,125 |
The Toy Association Inc New York, NY | $44,631,259 | $11,487,921 |
Philadelphia Industrial Development Corp Philadelphia, PA | $40,435,799 | $13,493,986 |
Private Label Manufacturers Association New York, NY | $11,255,640 | $8,374,810 |
Pocono Mountains Vacation Bureau Inc Stroudsburg, PA | $11,737,684 | $15,325,542 |
Mohawk Valley Health System Utica, NY | $546,149,518 | $137,473,732 |
Acord Corporation Pearl River, NY | $47,591,189 | $27,875,680 |
National Kitchen & Bath Assoc Bethlehem, PA | $28,104,693 | $9,331,415 |