Bedford Stuyvesant Restoration Corporation
- Assets
- $67.0m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 185
- Location
- Brooklyn, NY
- Founding
- 06/1967
- Data as of
- 06/2021
- EIN
- 11-6083182
Organization Overview
Bedford Stuyvesant Restoration Corporation is located in Brooklyn, NY. The organization was established in 1967. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Bedford Stuyvesant Restoration Corporation employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bedford Stuyvesant Restoration 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 06/2021, Bedford Stuyvesant Restoration Corporation generated $11.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $10.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE ORGANIZATION'S MISSION ON SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKFORCE AND ECONOMIC DEVELOPMENT - THROUGH ITS WORKFORCE DEVELOPMENT INITIATIVE THE ORGANIZATION IS ABLE TO PROVIDE A CONTINUUM OF JOB PREPAREDNESS AND PLACEMENT SERVICES TO ASSIST COMMUNITY RESIDENTS TO ENTER OR RE-ENTER THE WORKPLACE. ADDITIONALLY, THE ORGANIZATION IS PARTNERING WITH COMMUNITY BUSINESSES AND LEADERS IN PROVIDING SERVICES THAT FOSTER A CLEAN, SAFE AND VIBRANT BUSINESS DISTRICT IN BEDFORD STUYVESANT AND CENTRAL BROOKLYN.
ARTS AND EDUCATION - THE ORGANIZATION'S CENTER FOR ARTS AND CULTURE PRESENTS, PROMOTES AND PRESERVES THE MULTI-CULTURAL HERITAGE OF THE RESIDENTS OF BEDFORD STUYVESANT AND CENTRAL BROOKLYN BY TRAINING THE NEXT GENERATION OF TALENT WITH OVER 400 ON SITE ENROLLMENT IN OUR DANCE AND ARTS WORKSHOPS, EXHIBITING THE WORK OF LOCAL ARTISTS IN OUR SKYLIGHT GALLERY, AND SHOWCASING THE PERFORMANCE OF CULTURAL GROUPS IN OUR HISTORIC BILLIE HOLIDAY THEATRE.
COMMERCIAL REVITALIZATION - THE ORGANIZATION IS ENGAGED IN FACILITATING THE EXPANSION AND ENHANCEMENT OF BUSINESS IN UNDERSERVED COMMUNITIES TO COMBAT URBAN DECAY AND TO CREATE JOBS AND BUSINESS OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colvin W Grannum ESQ President & CEO | Officer | 35 | $273,856 |
Francila Carlson Exec. VP / Cfao | Officer | 35 | $270,518 |
Gordon Bell Exec. VP | Officer | 35 | $151,335 |
Tracey Capers Exec. VP | Officer | 35 | $150,342 |
Indira Etwaroo Exec. VP | Officer | 35 | $149,656 |
Wendell Rice Prog. Director | 35 | $123,598 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Heightened Security Security Service | 6/29/16 | $178,775 |
Classic Restaurant Food Service | 6/29/16 | $126,565 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $988,262 |
| Related organizations | $0 |
| Government grants | $5,220,214 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,183,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,392,061 |
| Total Program Service Revenue | $2,071,244 |
| Investment income | $612,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,268,243 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$78,505 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,958,396 |
| 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. | $1,064,925 |
| Compensation of current officers, directors, key employees. | $450,338 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,102,344 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $733,480 |
| Payroll taxes | $366,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,875 |
| Fees for services: Accounting | $34,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $629,863 |
| Advertising and promotion | $74,880 |
| Office expenses | $455,081 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $607,522 |
| Travel | $7,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $232,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $853,283 |
| Insurance | $173,740 |
| All other expenses | $0 |
| Total functional expenses | $10,389,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,999,440 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,825,407 |
| Accounts receivable, net | $397,218 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,524,495 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $353,716 |
| Net Land, buildings, and equipment | $25,966,575 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,889,231 |
| Total assets | $66,956,082 |
| Accounts payable and accrued expenses | $2,855,085 |
| Grants payable | $0 |
| Deferred revenue | $2,868,349 |
| 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 | $28,249,365 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,265,943 |
| Total liabilities | $36,238,742 |
| Net assets without donor restrictions | $30,717,340 |
| Net assets with donor restrictions | $0 |
| 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 | $66,956,082 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Bedford Stuyvesant Restoration Corporation has recieved totaling $2,973,731.
| Awarding Organization | Amount |
|---|---|
Citi Foundation New York, NY PURPOSE: SMALL BUSINESS TECHNICAL ASSISTANCE INITIATIVE | $500,000 |
Mother Cabrini Health Foundation New York, NY PURPOSE: ADDRESSING TRAUMA AND MENTAL HEALTH TO IMPROVE UPWARD MOBILITY | $350,000 |
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $325,000 |
Citi Foundation New York, NY PURPOSE: COMMUNITY PROGRESS MAKERS | $250,000 |
Citi Foundation New York, NY PURPOSE: COMMUNITY PROGRESS MAKERS | $250,000 |
Mother Cabrini Health Foundation New York, NY PURPOSE: STRENGTHENING CENTRAL BROOKLYN'S FOOD SYSTEM FOR HEALTHY OUTCOMES | $225,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association For Energy Affordability Inc Bronx, NY | $8,796,586 | $16,696,902 |
Bedford Stuyvesant Restoration Corporation Brooklyn, NY | $66,956,082 | $10,958,396 |
Tioga Opportunities Inc Owego, NY | $6,623,346 | $5,643,781 |
Puertorriguenos Asociados For Community Organization Inc Jersey City, NJ | $2,164,949 | $2,929,445 |
Rebuilding Together Philadelphia Philadelphia, PA | $1,909,589 | $2,697,411 |
Bluehub Capital Inc Boston, MA | $18,553,228 | $2,089,518 |
Rebuilding Together Nyc Brooklyn, NY | $1,427,304 | $2,371,566 |
Margert Community Corporation Far Rockaway, NY | $3,330,961 | $2,086,587 |
Neighborhood Housing Services Of Brooklyn Cdc Inc Brooklyn, NY | $1,795,417 | $1,982,493 |
Revitalize Community Development Corporation Springfield, MA | $1,147,655 | $1,631,716 |
Lucille Clark Housing Development Fund Co Inc New York, NY | $2,660,768 | $778,673 |
The Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc New York, NY | $15,240,279 | $682,026 |