Civic Intelligence

Bridge Street Development Corporation

990 • Fiscal year 2019 • EIN 11-3250772

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 05, 2020

Organization ProfileWWW.BSDCORP.ORG
460 Nostrand AvenueBrooklyn, NY 11216

(718) 399-0146

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

31st percentile

0.05x

Higher debt load relative to assets than 31% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

31st percentile

0.07x

Higher debt load relative to revenue than 31% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Net Margin

38th percentile

0.6%

Higher net margin than 38% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

69th percentile

$158,619

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 10.2% of source-year revenue.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Asset Growth

30th percentile

-2.5%

Faster asset growth than 30% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

12th percentile

-21%

Faster revenue growth than 12% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$2,140,813

Down $54,444 (-2.5%) from 2018

Net Assets

Up

$2,039,496

Up $15,923 (+0.8%) from 2018

Liabilities

Down

$101,317

Down $70,367 (-41%) from 2018

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin38th percentile

Revenue

Down

$1,557,567

Down $403,038 (-21%) from 2018

Expenses

Up

$1,548,574

Up $145,977 (+10%) from 2018

Net Income

Down

$8,993

Down $549,015 (-98%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2010: $1,228,021Liabilities 2010: $57,068Net Assets 2010: $1,170,9532010Assets 2011: $1,363,082Liabilities 2011: $188,019Net Assets 2011: $1,175,0632011Assets 2012: $1,270,045Liabilities 2012: $36,895Net Assets 2012: $1,233,1502012Assets 2013: $1,320,313Liabilities 2013: $19,016Net Assets 2013: $1,301,2972013Assets 2014: $1,329,392Liabilities 2014: $16,954Net Assets 2014: $1,312,4382014Assets 2015: $1,347,159Liabilities 2015: $21,456Net Assets 2015: $1,325,7032015Assets 2016: $1,430,457Liabilities 2016: $81,274Net Assets 2016: $1,349,1832016Assets 2017: $1,518,572Liabilities 2017: $49,811Net Assets 2017: $1,468,7612017Assets 2018: $2,195,257Liabilities 2018: $171,684Net Assets 2018: $2,023,5732018Assets 2019: $2,140,813Liabilities 2019: $101,317Net Assets 2019: $2,039,4962019Assets 2020: $2,109,138Liabilities 2020: $117,456Net Assets 2020: $1,991,6822020Assets 2021: $1,795,467Liabilities 2021: $68,540Net Assets 2021: $1,726,9272021Assets 2022: $2,210,051Liabilities 2022: $364,100Net Assets 2022: $1,845,9512022Assets 2023: $2,932,460Liabilities 2023: $1,159,781Net Assets 2023: $1,772,6792023Assets 2024: $2,149,958Liabilities 2024: $659,465Net Assets 2024: $1,490,4932024

Highlighted filing

2019

Assets$2,140,813
Liabilities$101,317
Net Assets$2,039,496
Open 2019 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,133,3732010Revenue 2011: $1,128,781Expenses 2011: $1,197,956Net Income 2011: -$69,1752011Revenue 2012: $1,335,506Expenses 2012: $1,291,766Net Income 2012: $43,7402012Revenue 2013: $1,502,461Expenses 2013: $1,446,963Net Income 2013: $55,4982013Revenue 2014: $1,459,178Expenses 2014: $1,471,834Net Income 2014: -$12,6562014Revenue 2015: $1,639,938Expenses 2015: $1,633,290Net Income 2015: $6,6482015Revenue 2016: $1,383,436Expenses 2016: $1,364,831Net Income 2016: $18,6052016Revenue 2017: $1,539,529Expenses 2017: $1,424,811Net Income 2017: $114,7182017Revenue 2018: $1,960,605Expenses 2018: $1,402,597Net Income 2018: $558,0082018Revenue 2019: $1,557,567Expenses 2019: $1,548,574Net Income 2019: $8,9932019Revenue 2020: $1,418,867Expenses 2020: $1,464,008Net Income 2020: -$45,1412020Revenue 2021: $1,804,289Expenses 2021: $2,078,619Net Income 2021: -$274,3302021Revenue 2022: $2,763,736Expenses 2022: $2,636,980Net Income 2022: $126,7562022Revenue 2023: $4,529,272Expenses 2023: $4,602,911Net Income 2023: -$73,6392023Revenue 2024: $3,306,494Expenses 2024: $3,588,604Net Income 2024: -$282,1102024

Highlighted filing

2019

Revenue$1,557,567
Expenses$1,548,574
Net Income$8,993
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 5, 2020
Return Version
2019v5.0
Gross Receipts
$1,557,567
Mission and Program Overview

Mission

Bridge street development corporation's mission is threefold: (1) developing and upgrading housing in low and moderate income families in the bedford-stuyvesant area; (2) encouraging the formation of businesses in, and recruiting prospective and existing businesses to, bedfor-stuyvesant; and (3) developing management and administrative capacity that will allow for the centralized provision of such services to the several corporations affiliated with bridge street african wesleyan methodist episcopal church.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$14,242$344,910▲ $330,668
Pledges and Grants Receivable$247,092$191,951▼ $55,141
Land, Buildings, and Equipment, Net-$26,680-
Investments in Publicly Traded Securities$16,139$23,069▲ $6,930
Total Assets$2,195,257$2,140,813▼ $54,444
Other Assets Total$1,917,784$1,554,203▼ $363,581
Liabilities
Unsecured Notes Loans Payable$121,800--
Accounts Payable and Accrued Expenses$25,222$60,230▲ $35,008
Deferred Revenue$20,700$37,125▲ $16,425
Other Liabilities$3,962$3,962→ $0
Total Liabilities$171,684$101,317▼ $70,367
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,580,611$1,550,695▼ $29,916
Net Assets With Donor Restrictions$442,962$488,801▲ $45,839
Total Net Assets Fund Balance$2,023,573$2,039,496▲ $15,923
Total Liabilities and Net Assets / Fund Balance$2,195,257$2,140,813▼ $54,444

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$26,680$115,367$142,047
Leasehold Improvements-$90,860$90,860
Other Assets Org$5,288--
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Emilio DorcelyPres. & CEOFT$158,619$158,619
Gregory AndersonPres. and CeFT$68,803$68,803

Board Members and Trustees

NameTitle
Edward Odom JrChairman
Phyllis White-thorneVice Chair
Akil FridayMember
Drexel HarrisMember
Elwanda YongMember
Fitzgerald MillerMember
Joan BartolomeoMember
John E Gilmore IvMember
Niles Dante StewartMember
Sowonee DuworkoMember
Xiomara Y Smith-romainMember
Valerie Kenderick-cousinSecretary
Abitzel Robitson-hobsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$629,667
Program Service Revenue
$922,275
Investment Income
$771
Other Revenue
$4,854
All Other Contributions
$74,850
Change in Net Assets
$8,993

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,557,567
Revenue Not Reported on Form 990
$6,930
Total Revenue per Audited Statements
$1,564,497
Total Revenue per Form 990
$1,557,567
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,103,650
Other Expenses$444,924
Total Fundraising Expense$68,145
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$790,437$94,477$44,872$929,786
Fees for Services Other$79,515$43,763$2,916$126,194
Other Employee Benefits$84,959$7,169$4,710$96,838
Payroll Taxes$62,980$10,573$3,473$77,026
All Other Expenses$26,932$35,805$1,320$64,057
Occupancy$18,184$10,362$7,527$36,073
Other Expenses$18,597$9,571$752$28,920
Office Expenses$8,554$13,914$114$22,582
Insurance$5,012$8,066$280$13,358
Fees for Services Accounting$8,416$1,006$478$9,900
Interest-$5,249-$5,249
Depreciation Depletion-$2,824-$2,824
Travel$62$1,188-$1,250
Total Functional Expenses$1,177,559$302,870$68,145$1,548,574

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,548,574
Total Expenses per Audited Statements$1,548,574
Total Expenses per Form 990$1,548,574
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$3,962
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The president and finance director review the annual filings for completeness and accuracy. The finance director presents them to the finance committee for approval. The finance committee then presents them to the board for final approval.”

Form 990, Page 6, Part VI, Line 12C

“Acknowledgement of policy; disclosure: each person to whom this policy applies shall be required to acknowledge in writing on the form attached to this policy that he or she has reviewed this policy agrees to abide by its requirements and shall complete and submit to the corporation annually the disclosure which is required by the attached acknowledgment. Any violation of this policy shall be reported to the chair of the board (or to the board, if the chair is the subject of the report) and to confer with the chair (or the board, as applicable) regarding an appropriate remedy.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Bridge Street Development
EIN
11-3250772
Phone
7183990146
Address
460 NOSTRAND AVENUE, BROOKLYN, NY 11216

Signing Officer

Name
Gregory Anderson
Title
Pres. and CEO
Phone
7183990146
Signed
2020-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Anderson
Formed
1995
Legal Domicile
Ny
Voting Board Members
13
Independent Board Members
13
Employees
26

Preparer

Firm
VARGAS & RIVERA CPA'S LLP
Address
586 ROUTE 304, NEW CITY, NY 10956
Preparer
Luis C Rivera
Phone
8456383113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Bridge street development corporation's mission is threefold: (1) developing and upgrading housing in low and moderate income families in the bedford-stuyvesant area; (2) encouraging the formation of businesses in, and recruiting prospective and existing businesses to, bedfor-stuyvesant; and (3) developing management and administrative capacity that will allow for the centralized provision of such services to the several corporations affiliated with bridge street african wesleyan methodist episcopal church.”

Form 990, Page 2, Part III, Line 4D

“Community activities and technology center”

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IRS990/MissionDesc0BRIDGE STREET DEVELOPMENT CORPORATION'S MISSION IS THREEFOLD: (1) DEVELOPING AND UPGRADING HOUSING IN LOW AND MODERATE INCOME FAMILIES IN THE BEDFORD-STUYVESANT AREA; (2) ENCOURAGING THE FORMATION OF BUSINESSES IN, AND RECRUITING PROSPECTIVE AND EXISTING BUSINESSES TO, BEDFOR-STUYVESANT; AND (3) DEVELOPING MANAGEMENT AND ADMINISTRATIVE CAPACITY THAT WILL ALLOW FOR THE CENTRALIZED PROVISION OF SUCH SERVICES TO THE SEVERAL CORPORATIONS AFFILIATED WITH BRIDGE STREET AFRICAN WESLEYAN METHODIST EPISCOPAL CHURCH.
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IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3EQUIPMENT LEASES
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IRS990/OtherExpensesGrp/FundraisingAmt1752
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt148000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt210534
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt39571
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IRS990/OtherExpensesGrp/ProgramServicesAmt118048
IRS990/OtherExpensesGrp/ProgramServicesAmt218597
IRS990/OtherExpensesGrp/TotalAmt056232
IRS990/OtherExpensesGrp/TotalAmt148000
IRS990/OtherExpensesGrp/TotalAmt230285
IRS990/OtherExpensesGrp/TotalAmt328920
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IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
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IRS990/OtherRevenueTotalAmt04854
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt044872
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt094477
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0929786
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt03473
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt010573
IRS990/PayrollTaxesGrp/ProgramServicesAmt062980
IRS990/PayrollTaxesGrp/TotalAmt077026
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0247092
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0191951
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0GREGORY ANDERSON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0DEVELOPER & MANAGEMENT FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11360
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0920915
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11360
IRS990/ProgSrvcAccomActy2Grp/Desc0SENIOR SERVICES PROVIDES QUALITY HOUSING AT BELOW MARKET RENT FOR SENIORS, AND VARIOUS SUPPORT SERVICES ON SITE, SUCH AS MEAL ON WHEELS, WORKSHOPS, HOME HEALTH AIDES, MEDICARE ASSISTANCE AND OTHER EXTRA-CURRICULAR ACTIVITIES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0233526
IRS990/ProgSrvcAccomActy3Grp/Desc0HOMEOWNERSHIP, PRESERVATION AND HOUSING DEVELOPMENT - THE GOAL IS TO IMPROVE THE BEDFORD-STUYVESANT COMMUNITY BY REHABILITATING FORMER CITY- OWNED RESIDENTIAL PROPERTIES AND SELLING THEM AT PRICES BELOW MARKET VALUE. IT CREATES HOME OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME BUYERS, INCREASES THE ATTRACTIVENESS OF THE NEIGHBORHOOD, AND UPGRADES THE LIVING CONDITIONS OF EXISTING RESIDENTS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0376322
IRS990/ProgSrvcAccomActyOtherGrp/Desc0COMMUNITY ACTIVITIES AND TECHNOLOGY CENTER
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0512170
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0819163
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt0420669
IRS990/PYOtherRevenueAmt06758
IRS990/PYProgramServiceRevenueAmt01134160
IRS990/PYRevenuesLessExpensesAmt0558008
IRS990/PYSalariesCompEmpBnftPaidAmt0981928
IRS990/PYTotalExpensesAmt01402597
IRS990/PYTotalRevenueAmt01960605
IRS990/ReconcilationRevenueExpnssAmt08993
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt032891
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0629667
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0819163
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01130868
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0900793
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0891007
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0321
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04304
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0900793
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,140,813
Liabilities
$101,317
Net assets
$2,039,496
Revenue
$1,557,567
Expenses
$1,548,574
Net income
$8,993
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.15$0.66$1.49$3.31$3.59$0.28
2023Detailed filing. Detailed filing data is available for this year.$2.93$1.16$1.77$4.53$4.60$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$0.36$1.85$2.76$2.64$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.80$0.07$1.73$1.80$2.08$0.27
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.11$0.12$1.99$1.42$1.46$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.14$0.10$2.04$1.56$1.55$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.20$0.17$2.02$1.96$1.40$0.56
2017Detailed filing. Detailed filing data is available for this year.$1.52$0.05$1.47$1.54$1.42$0.11
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.08$1.35$1.38$1.36$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$0.02$1.33$1.64$1.63$0.01
2014Summary only. Only limited summary data is available for this year.$1.33$0.02$1.31$1.46$1.47$0.01
2013Summary only. Only limited summary data is available for this year.$1.32$0.02$1.30$1.50$1.45$0.06
2012Summary only. Only limited summary data is available for this year.$1.27$0.04$1.23$1.34$1.29$0.04
2011Summary only. Only limited summary data is available for this year.$1.36$0.19$1.18$1.13$1.20$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.06$1.17$1.13