Downtown Brooklyn Partnership
- Assets
- $6.9m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 36
- Location
- Brooklyn, NY
- Founding
- 08/2007
- Data as of
- 06/2021
- 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 06/2021, Downtown Brooklyn Partnership employed 36 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 06/2021, Downtown Brooklyn Partnership generated $3.0m 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 (4.5%) each year. All expenses for the organization totaled $2.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.7%) 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
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.
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 |
|---|---|---|---|
Regina Myer President | Officer | 45 | $400,000 |
Peter Coyne Dir. Of Public Safety | 45 | $153,750 | |
Scott Hobbs Managing Dir.of Finance | Officer | 45 | $150,000 |
Belinda Susan Cape Managing Dir. Of Programs | 45 | $147,420 | |
Di May Yu V.P. Of Real Estate | 45 | $115,000 | |
Ofer Cohen Co-Chair | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckissack Group Inc Construction Management | 6/29/20 | $1,080,543 |
Mckissack Group Inc Construction Management | 6/29/20 | $1,080,543 |
The A-team Consulting | 6/29/20 | $100,696 |
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 | $600,110 |
| All other contributions, gifts, grants, and similar amounts not included above | $854,993 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,455,103 |
| Total Program Service Revenue | $1,531,923 |
| Investment income | $241 |
| 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 | $2,987,267 |
| 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. | $598,809 |
| Compensation of current officers, directors, key employees. | $130,271 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $651,712 |
| Pension plan accruals and contributions | $6,212 |
| Other employee benefits | $79,543 |
| Payroll taxes | $93,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,407 |
| Fees for services: Accounting | $29,203 |
| Fees for services: Lobbying | $72,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $166,718 |
| Advertising and promotion | $0 |
| Office expenses | $149,558 |
| Information technology | $20,018 |
| Royalties | $0 |
| Occupancy | $192,575 |
| 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 | $123,042 |
| Insurance | $140,180 |
| All other expenses | $0 |
| Total functional expenses | $2,430,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,790,159 |
| Savings and temporary cash investments | $271,861 |
| Pledges and grants receivable | $300,394 |
| Accounts receivable, net | $60,226 |
| 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 | $117,004 |
| Net Land, buildings, and equipment | $3,648,370 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $678,702 |
| Total assets | $6,866,716 |
| Accounts payable and accrued expenses | $272,592 |
| Grants payable | $0 |
| Deferred revenue | $175,500 |
| 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 | $190,336 |
| Total liabilities | $638,428 |
| Net assets without donor restrictions | $6,187,700 |
| Net assets with donor restrictions | $40,588 |
| 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 | $6,866,716 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Downtown Brooklyn Partnership has recieved totaling $225.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $225 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Veterans Inc Worcester, MA | $18,236,837 | $18,440,204 |
Pennreach Allentown, NJ | $5,187,786 | $15,924,501 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |