Grow Brooklyn Inc
- Assets
- $930.9k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 80
- Location
- Brooklyn, NY
- Founding
- 08/2010
- Data as of
- 09/2021
- EIN
- 26-1410513
Organization Overview
Grow Brooklyn Inc is located in Brooklyn, NY. The organization was established in 2010. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 09/2021, Grow Brooklyn Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grow Brooklyn 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 09/2021, Grow Brooklyn Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $1.0m during the year ending 09/2021. While expenses have increased by 9.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
GROW BROOKLYN IS A BROOKLYN BASED NON-PROFIT ORGANIZATION WHOSE MISSION IS TO ENABLE MEMBERS OF ITS COMMUNITY TO PRESERVE AND GROW THEIR ASSETS, THEREBY SECURING THEIR ECONOMIC FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROW BROOKLYN PARTNERS WITH THE IRS ANNUALLY IN AN EFFORT TO BRING QUALITY, FREE TAX PREPARATION SERVICES TO LOW-INCOME INDIVIDUALS. GROW BROOKLYN HAS DONE THIS ANNUALLY FOR THE LAST 12 YEARS AND IS ONE OF THE IRS' TOP 50 VITA (VOLUNTEER INCOME TAX ASSISTANCE) PROVIDERS IN THE COUNTRY. IT IS THE LARGEST NON-COMMERCIAL TAX PREPARER IN BROOKLYN, ANNUALLY PREPARING OVER 8,000 TAX RETURNS, ABOUT ONE-THIRD OF WHICH CLAIM THE EARNED INCOME CREDIT (EIC).
THROUGH A PROGRAM CALLED PROTECT YOUR TREASURE, GROW BROOKLYN HAS BEGUN TO OFFER ESTATE PLANNING AND ESTATE ADMINISTRATION ADVICE, AND LIMITED LEGAL SERVICES, IN CONNECTION WITH ITS FORECLOSURE PREVENTION SERVICES. GROW BROOKLYN FOUND THAT 10-15% OF CLIENTS FACING FORECLOSURE HAD OVERLAPPING ESTATE ISSUES WHICH OFTEN PREVENTED A SUCCESSFUL RESOLUTION OF THE FORECLOSURE. THROUGH PROTECT YOUR TREASURE, GROW BROOKLYN HELPS INDIVIDUALS AND FAMILIES IN LOW INCOME COMMUNITIES TO MAINTAIN THEIR FINANCIAL ASSETS INCLUDING THEIR HOMES.
GROW BROOKLYN IS A HUD APPROVED HOUSING COUNSELING AGENCY. IT OFFERS FREE FORECLOSURE PREVENTION COUNSELING IN ONE OF NEW YORK CITY'S HARDEST HIT NEIGHBORHOODS, IN TERMS OF FORECLOSURES. ABOUT 300 HOMEOWNERS ARE SEEN ANNUALLY BY THE COUNSELING STAFF, MANY OF WHOM ARE ABLE TO SUCCESSFULLY MODIFY THE TERMS OF THEIR MORTGAGE IN A WAY THAT ENABLES THEM TO REMAIN IN THEIR HOME.
SEE SCHEDULE O
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 |
|---|---|---|---|
Makeela Brathwaite Executive Director (effective 10/1/21) | Officer | 8 | $67,802 |
Phillip Reyland Chair | OfficerTrustee | 1 | $0 |
Aissatou Barry Treasurer | OfficerTrustee | 1 | $0 |
Samira Rajan Executive Director (until 9/30/21) | Officer | 8 | $0 |
Nnenne Okorafor Director | Trustee | 1 | $0 |
Sonya Alonge Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,440 |
| Government grants | $855,360 |
| All other contributions, gifts, grants, and similar amounts not included above | $211,522 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,077,322 |
| Total Program Service Revenue | $4,998 |
| Investment income | $195 |
| 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 | $1,128,015 |
| 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 | $732,093 |
| Pension plan accruals and contributions | $21,271 |
| Other employee benefits | $0 |
| Payroll taxes | $72,066 |
| Fees for services: Management | $25,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,595 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94 |
| Advertising and promotion | $6,452 |
| Office expenses | $0 |
| Information technology | $18,610 |
| Royalties | $0 |
| Occupancy | $50,791 |
| 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 | $3,226 |
| Insurance | $9,985 |
| All other expenses | $30,256 |
| Total functional expenses | $1,003,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $284,890 |
| Savings and temporary cash investments | $250,000 |
| Pledges and grants receivable | $370,030 |
| Accounts receivable, net | $0 |
| 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 | $24,000 |
| Net Land, buildings, and equipment | $1,944 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $930,864 |
| Accounts payable and accrued expenses | $0 |
| 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 | $545,000 |
| Total liabilities | $545,000 |
| Net assets without donor restrictions | $385,864 |
| 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 | $930,864 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Grow Brooklyn Inc has recieved totaling $130,649.
| Awarding Organization | Amount |
|---|---|
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $110,000 |
Consumer Credit Counseling Service Of San Francisco Concord, CA PURPOSE: HOUSING COUNSELING & EDUCATION | $10,587 |
Mufg Union Bank Foundation Ag Phoenix, AZ PURPOSE: CHARITABLE | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $62 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Garden State Consumer Credit Counseling Inc Manalapan, NJ | $15,368,790 | $14,807,314 |
American Consumer Credit Counseling Inc Auburndale, MA | $18,184,034 | $13,306,197 |
Cambridge Credit Counseling Corp Agawam, MA | $10,545,696 | $7,101,425 |
Consumer Credit Counseling Service Of Delaware Valley Philadelphia, PA | $4,817,961 | $4,855,910 |
Hebrew Free Loan Society Inc New York, NY | $39,139,675 | $5,814,730 |
Consumer Credit And Budget Counseling Inc Marmora, NJ | $1,261,705 | $3,720,720 |
Consumers Credit Counseling Service Of Rochester Inc Rochester, NY | $7,908,723 | $3,468,563 |
Start Small Think Big Inc New York, NY | $5,478,531 | $5,454,234 |
Money Management New York, NY | $8,835,712 | $4,309,180 |
Advantage Credit Counseling Service Inc Pittsburgh, PA | $1,986,787 | $1,981,242 |
Intl Federation Of Red Cross And Red Crescent Soc At The U N Inc New York, NY | $144,561 | $1,804,361 |
Parachute Credit Counseling Inc West Seneca, NY | $1,575,678 | $1,698,417 |