Hot Bread Kitchen Ltd
- Assets
- $9.0m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 69
- Location
- New York, NY
- Founding
- 05/2009
- Data as of
- 12/2022
- EIN
- 26-3332972
Organization Overview
Hot Bread Kitchen Ltd is located in New York, NY. The organization was established in 2009. According to its NTEE Classification (P50) the organization is classified as: Personal Social Services, under the broad grouping of Human Services and related organizations. As of 12/2023, Hot Bread Kitchen Ltd employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hot Bread Kitchen Ltd 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 12/2022, Hot Bread Kitchen Ltd generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $4.0m during the year ending 12/2022. 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
HOT BREAD KITCHEN CREATES ECONOMIC OPPORTUNITY FOR WOMEN AND GENDER EXPANSIVE PEOPLE, IMMIGRANTS, AND PEOPLE OF COLOR THROUGH JOB SKILLS TRAINING, HIGH-QUALITY JOB PLACEMENT, FOOD ENTREPRENEURSHIP PROGRAMS, AND AN ECOSYSTEM OF SUPPORT IN NEW YORK CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULINARY WORKFORCE DEVELOPMENTTHROUGH HOT BREAD KITCHEN'S CULINARY WORKFORCE DEVELOPMENT PROGRAMS, MEMBERS GAIN SKILLS AND CONFIDENCE IN AND OUT OF THE KITCHEN TO PREPARE FOR CAREERS IN THE FOOD INDUSTRY AND BEYOND. IN 2023, WE ENROLLED 332 BREADWINNERS IN OUR WORKFORCE DEVELOPMENT PROGRAMS, INCLUDING OUR SIGNATURE CULINARY FUNDAMENTALS PROGRAM, AS WELL AS THE NEW FIRST COURSE NYC PROGRAM IN COLLABORATION WITH THE NEW YORK CITY DEPARTMENT OF SMALL BUSINESS SERVICES. OUR SIGNATURE CULINARY FUNDAMENTALS PROGRAM PROVIDES FUNDAMENTAL FOOD INDUSTRY SKILLS EMPHASIZING BASIC COOKING AND BAKING TECHNIQUES AND PLACES PROGRAM GRADUATES IN HIGH-QUALITY JOBS WITHIN HOT BREAD KITCHEN'S LARGE NETWORK OF EMPLOYER PARTNERS. THE PROGRAM ALSO INCLUDES PROFESSIONAL READINESS, WRAPAROUND SUPPORT, AND ENGLISH FOR SPEAKERS OF OTHER LANGUAGES COURSES.THE FIRST COURSE NYC PROGRAM PROVIDES CULINARY INSTRUCTION AND APPRENTICESHIP OPPORTUNITIES FOR ASPIRING RESTAURANT COOKS. MEMBERS RECEIVE 8 WEEKS OF KITCHEN-BASED INSTRUCTION, HANDS-ON TECHNICAL SKILLS TRAINING, AND PROFESSIONAL SKILLS LESSONS FOLLOWED BY 6 WEEKS OF ON-THE-JOB TRAINING WITH FINE DINING RESTAURANTS ACROSS NYC LIKE LILIA, MISI, PIG & KHAO, AND CENTURION.
SMALL BUSINESSOUR FOOD ENTREPRENEURSHIP PROGRAMS SUPPORT WOMEN OF COLOR ENTREPRENEURS AS THEY SEED, START, AND SCALE THEIR SMALL FOOD BUSINESSES WITHIN NYC'S THRIVING FOOD INDUSTRY. IN 2023, WE SUPPORTED 84 BUSINESSES THROUGH OUR SEED PROGRAM, WHICH IS A 5-PART PROGRAM THAT HELPS MEMBERS DEVELOP A BUSINESS PLAN FRAMEWORK THAT SUPPORTS THEIR MARKET-READY PRODUCTS. WE ALSO LAUNCHED START, WHICH PROVIDES ELIGIBLE ENTREPRENEURS THE OPPORTUNITY TO TEST THEIR BUSINESS MODEL BY ACCESSING SUBSIDIZED COMMERCIAL KITCHEN SPACE, ACCESS TO MARKETS, AND TECHNICAL ASSISTANCE.
COMMUNITY ENGAGEMENT & MEMBER SUPPORTWHEN MEMBERS ENROLL IN COURSES WITH HOT BREAD KITCHEN, THEY ARE ALSO ELIGIBLE FOR SUPPORT SERVICES TO MEET THEIR NEEDS OUTSIDE THE WORKPLACE. OUR 1:1 COACHING SESSIONS OFFER GUIDANCE AND REFERRALS TO OUR VAST NETWORK OF COMMUNITY PARTNERS, SUPPORTING MEMBERS AS THEY LAUNCH THEIR NEW CAREERS IN THE FOOD INDUSTRY. IN 2023, WE PROVIDED OVER $32,000 IN EMERGENCY FUNDING TO OUR MEMBERS TO ADDRESS NEEDS SUCH AS RENTAL ARREARS, CHILDCARE, TRANSPORTATION, FOOD ASSISTANCE, JOB INTERVIEW CLOTHING, AND MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Abbey Chief Excutive Officer | Officer | 40 | $224,788 |
Cedric Jarrett Through 1223 Chief Financial Officer | Officer | 40 | $144,265 |
Kristine Borok Chief Operating Officer | Officer | 40 | $164,812 |
Catherine Kim Chief Program Officer | 40 | $144,265 | |
Diana Taylor Chair | OfficerTrustee | 1 | $0 |
Mary Mccaffrey Vice-Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $258,867 |
| Related organizations | $0 |
| Government grants | $198,159 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,240,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,697,831 |
| Total Program Service Revenue | $0 |
| Investment income | $7,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,533 |
| Net Gain/Loss on Asset Sales | -$753 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,330 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,740,788 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,001 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $561,261 |
| Compensation of current officers, directors, key employees. | $169,424 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,917,577 |
| Pension plan accruals and contributions | $20,715 |
| Other employee benefits | $163,240 |
| Payroll taxes | $245,774 |
| Fees for services: Management | $1,192 |
| Fees for services: Legal | $1,850 |
| Fees for services: Accounting | $26,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $35,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $226,823 |
| Advertising and promotion | $18,597 |
| Office expenses | $86,095 |
| Information technology | $124,423 |
| Royalties | $0 |
| Occupancy | $141,869 |
| Travel | $16,686 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,233 |
| Interest | $848 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,231 |
| Insurance | $44,869 |
| All other expenses | $0 |
| Total functional expenses | $4,036,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $774,203 |
| Savings and temporary cash investments | $3,426,612 |
| Pledges and grants receivable | $4,099,656 |
| Accounts receivable, net | $9,430 |
| 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 | $62,301 |
| Net Land, buildings, and equipment | $417,734 |
| Investments—publicly traded securities | $200,256 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,278 |
| Total assets | $9,001,470 |
| Accounts payable and accrued expenses | $182,482 |
| Grants payable | $0 |
| Deferred revenue | $7,000 |
| 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 | $5,406 |
| Total liabilities | $194,888 |
| Net assets without donor restrictions | $4,162,350 |
| Net assets with donor restrictions | $4,644,232 |
| 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 | $9,001,470 |
Grants Awarded
Over the last fiscal year, Hot Bread Kitchen Ltd has awarded $66,342 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LITTLE GREEN GOURMENTS PURPOSE: EMERGENCY MEALS | $54,042 |
PABADE BAKERY PURPOSE: EMERGENCY MEALS | $12,300 |