BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION Charity Report

Public IRS 990 nonprofit record

BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION

EIN 13-3079387 · Economic Development (S30)

What they do

BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION (THE "CORPORATION") is A NEW YORK NONPROFIT ORGANIZATION, ORGANIZED IN 1981. THE CORPORATION WAS ESTABLISHED to PROMOTE ECONOMIC GROWTH IN THE BRONX, NEW YORK BY PROVIDING LOANS and GRANTS to BUSINESSES LOCATED IN THE BRONX, CONSULTING SERVICES to PRESENT and FUTURE COMPANIES, and ON-THE-JOB TRAINING. THE CORPORATION is FUNDED PRIMARILY THROUGH GOVERNMENTAL and FOUNDATION GRANTS and CONTRIBUTIONS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $76.80 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 2024The charity has a recent tax report to read.

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

80.29%of revenue went to mission work76.8% of expenses · Program services

9.89%of revenue went to fundraising9.5% of expenses

$104.53spent for every $100 of revenueSpending was higher than revenue this year.

14.35%of revenue went to management and office costs13.7% of expenses

$7.24in assets for every $1 spent this yearSome assets cannot be spent right away.

73.5%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.

Worth asking: Expenses exceeded revenue by $158,440 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $230,000 for ROBERT WALSH (PRESIDENT). Compare pay with organizations of similar size and complexity.

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 2024

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$3,495,333

Mission workProgram services$2,806,38780.29% of revenue76.8% of expenses

ManagementOffice and general costs$501,69614.35% of revenue13.7% of expenses

FundraisingAsking for donations$345,6909.89% of revenue9.5% of expenses

Total expenses$3,653,773104.53% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

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

2024CurrentExpense mix: 76.8% mission · 13.7% management · 9.5% fundraisingTotal expenses: 104.53% of revenue

2023Expense mix: 89.3% mission · 4.1% management · 6.5% fundraisingTotal expenses: 136.21% of revenue

2022Expense mix: 87.8% mission · 6.2% management · 6.0% fundraisingTotal expenses: 127.56% of revenue

2021Expense mix: 79.3% mission · 13.7% management · 7.0% fundraisingTotal expenses: 126.98% of revenue

2020Expense mix: 77.4% mission · 18.4% management · 4.2% fundraisingTotal expenses: 79.25% of revenue

2019Expense mix: 83.8% mission · 14.6% management · 1.6% fundraisingTotal expenses: 86.41% of revenue

2018Expense mix: 76.1% mission · 10.4% management · 13.5% fundraisingTotal expenses: 102.66% of revenue

2017Expense mix: 86.6% mission · 10.6% management · 2.8% fundraisingTotal expenses: 118.72% of revenue

Money in and money out

Revenue$3,495,333

Expenses$3,653,773

Annual shortfall $158,440 Expenses were higher than revenue 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)$2,806,387 · 76.8% of expenses

Management and office costs$501,696 · 13.7% of expenses

Fundraising$345,690 · 9.5% of expenses

See all reported dollar amounts

Revenue$3,495,333

Expenses$3,653,773

Assets$26,457,812

Income$59,633,346

Contributions$2,569,337

Mission work (program services)$2,806,387

Fundraising$345,690

Grants given$1,801,564

Average grant$78,329

Management and general$501,696

Executive compensation (total)$360,916

Stocks and bonds$20,749,342

Accounting fees$36,630

People

Leadership and board

Tax year 2024

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

People reported as paid

Person and titleCompensation

ROBERT WALSHPRESIDENT · 40 hrs/week $230,000

ANGELY ORBECHIEF FINANCIAL OFFICER · 40 hrs/week $143,816Base $130,000 · Other $13,816

RAFAEL ROGERBOARD MEMBER · 1 hrs/week $20,000

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (18)

ROBERT WALSHPRESIDENT

ANGELY ORBECHIEF FINANCIAL OFFICER

RAFAEL ROGERBOARD MEMBER

LOURDES ZAPATABOARD MEMBER

YESENIA QUINONESBOARD MEMBER

WINSTON PETERSBOARD MEMBER

VANESSA L GIBSONBOARD MEMBER

PHILLIP GRANTBOARD MEMBER

PATRICIA SIMONEBOARD MEMBER

NALLELY DE JESSBOARD MEMBER

KEVIN KIMBOARD MEMBER

KATHY ZAMECHANSKYVICE CHAIR

JULIO E REYES JRBOARD MEMBER

EDDY BAYARDELLE PHDBOARD MEMBER

DR SUSAN L PARISHBOARD MEMBER

DAN HERDOONSECRETARY

CLARENCE STANLEY JRCHAIRMAN

BRIAN SMITHBOARD MEMBER

About this charity

Recognized since: January 1987
Location: 851 Grand Concourse Suite 123, Bronx, NY 104512937
County: Bronx
In care of: Winston Peters
Primary officer: Winston Peters, Interim PRESIDENT

How to reach them

WebsiteVisit the charity’s website Emailabuse@constantcontact.com Phone(718) 590-6201

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: WITHUMSMITHBROWN PC
NTEE classification: Economic Development (S30)
IRS tax category: Economic Development
Grant-giving organization: Yes