SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION Charity Report

Public IRS 990 nonprofit record

SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION

EIN 13-2736022 · Community Improvement & Capacity Building (S31Z)

What they do

OUR MISSION is to ENHANCE THE QUALITY of LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES and CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL, and CAREER DEVELOPMENT PROGRAMS for YOUTH and ADULTS. SOBRO WAS FOUNDED IN 1972 BY A GROUP of BUSINESS EXECUTIVES and COMMUNITY LEADERS. OUR TASK WAS URGENT: REVERSE THE FLIGHT of BUSINESSES and JOBS FROM THE SOUTH BRONX. IT WAS THE FIRST and MOST FUNDAMENTAL STEP TOWARD REBUILDING A COMMUNITY WHOSE NAME EVOKED IMAGES of BURNED BUILDINGS, CRIME, POVERTY and DRUGS. BUT AS SOBRO BEGAN to EVOLVE, IT BECAME CLEARER THAT COMMUNITY REVITALIZATION REQUIRED A MULTI-FACETED EFFORT. TODAY, WE ADDRESS ALL ASPECTS of COMMUNITY DEVELOPMENT: ASSISTING BUSINESSES to GET STARTED and GROW, TRAINING RESIDENTS ACCORDING to THE NEEDS of EMPLOYERS, OFFERING OPPORTUNITIES for YOUTH to LEARN and DEVELOP, and CREATING AFFORDABLE HOUSING and COMMERCIAL SPACES THAT REVERSE BLIGHT IN THE COMMUNITY.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $74.50 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2023The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders18 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

39.23%of revenue went to mission work74.5% of expenses · Program services

1.45%of revenue went to fundraising2.8% of expenses

$52.69spent for every $100 of revenueRevenue covered expenses this year.

12.01%of revenue went to management and office costs22.8% of expenses

$2.51in assets for every $1 spent this yearSome assets cannot be spent right away.

98.4%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2023

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$5,349,808

Mission workProgram services$2,098,72139.23% of revenue74.5% of expenses

ManagementOffice and general costs$642,33912.01% of revenue22.8% of expenses

FundraisingAsking for donations$77,6781.45% of revenue2.8% of expenses

Revenue left after expensesReported annual surplus$2,531,07047.31% of revenueShown in gray on the chart

Total expenses$2,818,73852.69% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2023CurrentExpense mix: 74.5% mission · 22.8% management · 2.8% fundraisingTotal expenses: 52.69% of revenue

2022Expense mix: 74.6% mission · 23.2% management · 2.2% fundraisingTotal expenses: 120.40% of revenue

2021Expense mix: 66.5% mission · 31.3% management · 2.3% fundraisingTotal expenses: 101.44% of revenue

2020Expense mix: 68.0% mission · 29.5% management · 2.6% fundraisingTotal expenses: 99.17% of revenue

2019Expense mix: 67.5% mission · 32.5% management · 0.0% fundraisingTotal expenses: 74.45% of revenue

2018Expense mix: 49.7% mission · 50.3% management · 0.0% fundraisingTotal expenses: 87.76% of revenue

2017Expense mix: 47.9% mission · 52.1% management · 0.0% fundraisingTotal expenses: 124.31% of revenue

2016Expense mix: 0.0% mission · 16.7% management · 0.0% fundraisingTotal expenses: 107.69% of revenue

Money in and money out

Revenue$5,349,808

Expenses$2,818,738

Annual surplus $2,531,070 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$2,098,721 · 74.5% of expenses

Management and office costs$642,339 · 22.8% of expenses

Fundraising$77,678 · 2.8% of expenses

See all reported dollar amounts

Revenue$5,349,808

Expenses$2,818,738

Assets$7,073,569

Income$5,349,808

Contributions$5,265,455

Mission work (program services)$2,098,721

Fundraising$77,678

Management and general$642,339

Accounting fees$71,050

People

Leadership and board

Tax year 2023

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (18)

MARK WILLISTREASURER

WILLIAM BILL BOLLINGERBOARD MEMBER

TIFFANI HINDSBOARD MEMBER

ROBBIN FINNEY-GRANSTONSVP PROGRAMS

PRISCA SALAZAR-RODRIGUEZBOARD MEMBER

PLINIO AYALABOARD MEMBER

PATRICIA NIA ROCKBOARD MEMBER

MAYRA LINARES-GARCIABOARD MEMBER

MARK L CASTLEBOARD CHAIR

ANTHONY M RICCIO JRSECRETARY

LOURDES ZAPATAPRESIDENT & CEO

LAUREN GEORGEBOARD MEMBER

KAREN MCGUINNESSVICE CHAIR

JENNIFER RIVERABOARD MEMBER

HUGH GRANTBOARD MEMBER

DELILAH TYSONCAO

CONOR MCCARTHYBOARD MEMBER

ARLINE PARKSVICE CHAIR

About this charity

Recognized since: January 1973
Location: 555 BERGEN AVENUE 3RD FLOOR, BRONX, NY 10455-1368
County: Bronx
In care of: % KAREN MCGUINNESS
Primary officer: JASON GARCIA, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone(718) 292-3113

Filing and classification

Latest tax year: 2023
Tax period began: April 1, 2023
Return type: 990
Tax preparer: SAX ADVISORS LLC
NTEE classification: Community Improvement & Capacity Building (S31Z)