Long Island City Business Improvement District Inc
- Assets
- $632.8k
- Revenue
- $949.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Long Island City, NY
- Founding
- 09/2007
- Data as of
- 06/2022
- EIN
- 20-2889318
Organization Overview
Long Island City Business Improvement District Inc is located in Long Island City, NY. The organization was established in 2007. 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. Long Island City Business Improvement District 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, Long Island City Business Improvement District Inc generated $949.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $832.6k during the year ending 06/2022. While expenses have increased by 8.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE VITALITY AND ECONOMIC GROWTH OF A BUSINESS IMPROVEMENT DISTRICT LOCATED IN NYC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC IMPROVEMENTS - IMPROVING THE OVERALL APPEARANCE OF THE DISTRICT THROUGH A COMBINATION OF BEAUTIFICATION AND OTHER PROJECTS.
SECURITY - WORKING CLOSELY WITH THE LOCAL POLICE PRECINCTS. WE HOST FREQUENT ROUNDTABLE MEETINGS WHERE BOTH NYPD PRECINCTS AND LOCAL BUSINESS OWNERS PARTICIPATE IN DISCUSSIONS ABOUT RECENT COMMUNITY EVENTS, SAFETY TIPS FOR BUSINESSES, AND IN GENERAL WAYS TO MAKE OUR BID SAFER. WE ALSO WORK CLOSELY WITH CITY AGENCIES, BUSINESS AND PROPERTY OWNERS, AND COMMUNITY ORGANIZATIONS TO KEEP LIC SAFE AND WELCOMING WHILE CONTINUING TO SEND OUT BID EMAIL NOTIFICATIONS FOR SERVICE ALERTS AND SERIOUS WEATHER CONDITIONS, KEEPING EVERYONE UPDATED ON WHAT IS GOING ON IN THE DISTRICT. THE BID IS EXCITED TO ANNOUNCE THAT WE ARE NOW COMMUNITY PARTNERS WITH THE LOCAL POLICE PRECINCT. WE MEET ON A MONTHLY BASIS TO DISCUSS CRIME TRENDS, UPDATES, AND ATTEND THEIR FREQUENT BUILD-A-BLOCK MEETINGS TO HEAR PUBLIC CONCERNS AND OPINIONS FROM AROUND THE DISTRICT.
SANITATION - MAINTAINING CLEAN STREETS/CURBS AND GARBAGE AND GRAFFITI REMOVAL.
MARKETING AND PROMOTION - PROMOTING THE DISTRICT TO RESIDENTS AND TOURISTS AND RETAINING AND DEVELOPING PROSPECTIVE BUSINESSES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Brause Chair | OfficerTrustee | 2 | $0 |
Patricia Dunphy Vice-Chair | OfficerTrustee | 1 | $0 |
George Heslin Secretary | OfficerTrustee | 2 | $0 |
Gretchen Werwaiss Treasurer | OfficerTrustee | 2 | $0 |
Aaron Shirian Director | Trustee | 0.5 | $0 |
Adam Good Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Streetplus Company Llc Sanitation | 6/29/20 | $350,238 |
The Long Island City Partnership Inc Management | 6/29/20 | $230,000 |
Chelsea Garden Center Landscaping | 6/29/20 | $101,453 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,372 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,372 |
| Total Program Service Revenue | $908,000 |
| Investment income | $76 |
| 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 | $949,448 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,951 |
| Fees for services: Lobbying | $408 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $721,091 |
| Advertising and promotion | $2,649 |
| Office expenses | $2,051 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $105 |
| 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 | $4,998 |
| All other expenses | $88,347 |
| Total functional expenses | $832,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $591,025 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125 |
| 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 | $30,581 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,050 |
| Total assets | $632,781 |
| Accounts payable and accrued expenses | $145,385 |
| 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 | $0 |
| Total liabilities | $145,385 |
| Net assets without donor restrictions | $487,396 |
| 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 | $632,781 |