Bedford Stuyvesant Restoration Corporation
- Assets
- $63.0m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 213
- Location
- Brooklyn, NY
- Founding
- 06/1967
- Data as of
- 06/2023
- 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 06/2023, Bedford Stuyvesant Restoration Corporation employed 213 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 06/2023, Bedford Stuyvesant Restoration Corporation generated $9.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $12.8m during the year ending 06/2023. 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
2023
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.
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.
WEATHERIZATION ASSISTANCE AND ENERGY CONSERVATION - THROUGH THIS PROGRAM THE ORGANIZATION HAS BEEN WEATHERIZING RESDENTIAL UNITS OF LOW INCOME AND ELDERLY TENANTS TO REDUCE FUEL CONSUMPTION AND CONSERVE ENERGY FOR NEARLY THIRTY YEARS. IN ADDITION TO THE REDUCTION IN ENERGY CONSUMPTION THE PROGRAM PROVIDES AN ECONOMIC BENEFIT TO COMMUNITY- BASED CONTRACTORS AND SELLERS OF CONSTRUCTION MATERIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colvin Grannum President & CEO | OfficerTrustee | 35 | $287,785 |
Francila Carlson Exec. Vp/cfao | OfficerTrustee | 35 | $279,950 |
Tracey Capers Exec. VP | OfficerTrustee | 35 | $201,702 |
Renee Jenkins Exec. VP | OfficerTrustee | 35 | $178,798 |
Gordon Bell Exec. VP | OfficerTrustee | 35 | $145,559 |
Blondel Pinnock President | OfficerTrustee | 35 | $166,849 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Real Windows Llc Sub-constractor | 6/29/23 | $551,578 |
Core Z Operations Food/venue | 6/29/23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $487,049 |
| Related organizations | $0 |
| Government grants | $6,392,120 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,936,543 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,815,712 |
| Total Program Service Revenue | $1,552,306 |
| Investment income | $153,941 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,030,347 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$81,674 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,652,738 |
| 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. | $1,295,701 |
| Compensation of current officers, directors, key employees. | $886,246 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,452,325 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,079,947 |
| Payroll taxes | $500,149 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $131,181 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $80,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $557,276 |
| Advertising and promotion | $60,831 |
| Office expenses | $253,783 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $525,135 |
| Travel | $21,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $232,597 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $861,548 |
| Insurance | $217,777 |
| All other expenses | $11,467 |
| Total functional expenses | $12,776,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $910,334 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,183,348 |
| Accounts receivable, net | $536,853 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,388,361 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $42,905 |
| Net Land, buildings, and equipment | $23,584,840 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,306,340 |
| Total assets | $62,952,981 |
| Accounts payable and accrued expenses | $4,706,118 |
| Grants payable | $0 |
| Deferred revenue | $2,042,296 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $123,350 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $27,440,933 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,945,707 |
| Total liabilities | $37,258,404 |
| Net assets without donor restrictions | $25,694,577 |
| 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 | $62,952,981 |