Downtown Brooklyn Partnership
- Assets
- $7.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 40
- Location
- Brooklyn, NY
- Founding
- 08/2007
- Data as of
- 06/2022
- EIN
- 20-5323707
Organization Overview
Downtown Brooklyn Partnership is located in Brooklyn, 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. As of 06/2022, Downtown Brooklyn Partnership employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Brooklyn Partnership 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, Downtown Brooklyn Partnership generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AN ECONOMIC DEVELOPMENT ORGANIZATION FOR DOWNTOWN BROOKLYN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT - A SERIES OF REDEVELOPMENT PROJECTS AND THE ADMINISTRATION OF PROGRAMS AND SERVICES THAT PROMOTE ECONOMIC GROWTH AND IMPROVE LOCAL BUSINESS CONDITIONS AND QUALITY OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jelena Kovacevic Co-Chair | OfficerTrustee | 0.5 | $0 |
Ofer Cohen Co-Chair | OfficerTrustee | 0.5 | $0 |
Ali Esmaeilzadeh Secretary | OfficerTrustee | 0.5 | $0 |
Jeffrey Kay Treasurer | OfficerTrustee | 0.5 | $0 |
Adam Alshawish Director | Trustee | 0.5 | $0 |
Alan Fishman Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckissack Group Inc Construction Management | 6/29/20 | $1,080,543 |
The A-team Consulting | 6/29/20 | $100,696 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $611,398 |
| All other contributions, gifts, grants, and similar amounts not included above | $872,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,484,198 |
| Total Program Service Revenue | $976,057 |
| Investment income | $36 |
| 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 | $2,460,291 |
| 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. | $668,762 |
| Compensation of current officers, directors, key employees. | $177,754 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $501,998 |
| Pension plan accruals and contributions | $11,255 |
| Other employee benefits | $69,563 |
| Payroll taxes | $75,512 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,992 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $19,370 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $290,124 |
| Advertising and promotion | $0 |
| Office expenses | $99,354 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,112 |
| 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 | $1,676 |
| Insurance | $139,294 |
| All other expenses | $0 |
| Total functional expenses | $1,986,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,448,236 |
| Savings and temporary cash investments | $81,391 |
| Pledges and grants receivable | $243,125 |
| Accounts receivable, net | $38,903 |
| 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 | $4,515 |
| Net Land, buildings, and equipment | $5,028 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,191,702 |
| Total assets | $7,012,900 |
| Accounts payable and accrued expenses | $310,834 |
| 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 | $310,834 |
| Net assets without donor restrictions | $6,702,066 |
| 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 | $7,012,900 |