Business Resource & Investment Service Center Inc
- Assets
- $4.3m
- Revenue
- $593.1k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1997
- Data as of
- 06/2021
- EIN
- 13-3925609
Organization Overview
Business Resource & Investment Service Center Inc is located in New York, NY. The organization was established in 1997. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Resource & Investment Service Center 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 06/2021, Business Resource & Investment Service Center Inc generated $593.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $232.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) 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
PROVIDES FINANCIAL ASSISTANCE TO ELIGIBLE BUSINESSES IN UPPER MANHATTAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELIGIBLE BUSINESSES LOCATED IN THE UPPER MANHATTAN EMPOWERMENT ZONE WITH FINANCIAL ASSISTANCE IN THE FORM OF LOANS AND BUSINESS ADVISORY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blair M Duncan Executive Director | OfficerTrustee | 5 | $0 |
Harriet Michel Secretary | OfficerTrustee | 5 | $0 |
Linda Scott Chair | OfficerTrustee | 5 | $0 |
Blair Smith Cio (outgoing) | Officer | 5 | $0 |
Gaffar Mohamed CFO | Officer | 5 | $0 |
Chelsea Strickland Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $433,191 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $433,191 |
| Total Program Service Revenue | $127,592 |
| Investment income | $12,299 |
| 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 | $593,082 |
| 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 | $37,969 |
| Pension plan accruals and contributions | $1,774 |
| Other employee benefits | $0 |
| Payroll taxes | $4,491 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,769 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,185 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $8,837 |
| All other expenses | $0 |
| Total functional expenses | $232,746 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $3,745,889 |
| Pledges and grants receivable | $3,085 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $500,812 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,819 |
| Total assets | $4,290,805 |
| Accounts payable and accrued expenses | $22,984 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,260,329 |
| Total liabilities | $2,283,313 |
| Net assets without donor restrictions | $2,007,492 |
| 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 | $4,290,805 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Business Resource & Investment Service Center Inc has recieved totaling $453,191.
| Awarding Organization | Amount |
|---|---|
Upper Manhattan Empowerment Zone Development Corporation New York, NY PURPOSE: DEVELOPMENT | $433,191 |
Ponce De Leon Foundation Bronx, NY PURPOSE: BUSINESS RESOURCE INVESTMENT SERVICES CENTER | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |
National Council For Community Development Inc Brooklyn, NY | $24,193,687 | $38,165,020 |
The Community Action Organization Of Western New York Inc Buffalo, NY | $11,956,609 | $31,001,421 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |