Civic Intelligence

South Bronx Overall Economic Development Corporation

990 • Fiscal year 2018 • EIN 13-2736022

Apr 01, 2017 to Mar 31, 2018 • Filed on Feb 15, 2019

Organization ProfileWWW.SOBRO.ORG

View Organization Page

555 Bergen AvenueBronx, NY 10455

(718) 732-3113

Siviq Scores

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

Liabilities / Assets

81st percentile

0.67x

Higher debt load relative to assets than 81% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

74th percentile

0.72x

Higher debt load relative to revenue than 74% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

18th percentile

-7.3%

Higher net margin than 18% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

40th percentile

$147,364

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

91st percentile

33%

Faster asset growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

52nd percentile

4.8%

Faster revenue growth than 52% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$11,675,328

Up $2,866,976 (+33%) from 2017

Net Assets

Up

$3,828,691

Up $1,711,290 (+81%) from 2017

Liabilities

Up

$7,846,637

Up $1,155,686 (+17%) from 2017

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin18th percentile

Revenue

Up

$10,866,144

Up $502,211 (+4.8%) from 2017

Expenses

Up

$11,657,311

Up $496,510 (+4.4%) from 2017

Net Income

Up

-$791,167

Up $5,701 (+0.7%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$15M$10M$5.0M$0Assets 2010: $10,443,170Liabilities 2010: $9,383,756Net Assets 2010: $1,059,4142010Assets 2011: $9,678,589Liabilities 2011: $8,922,124Net Assets 2011: $756,4652011Assets 2012: $9,014,189Liabilities 2012: $8,731,755Net Assets 2012: $282,4342012Assets 2013: $11,554,466Liabilities 2013: $6,655,773Net Assets 2013: $4,898,6932013Assets 2014: $9,839,666Liabilities 2014: $5,837,398Net Assets 2014: $4,002,2682014Assets 2015: $10,115,889Liabilities 2015: $6,927,145Net Assets 2015: $3,188,7442015Assets 2016: $9,265,691Liabilities 2016: $6,351,422Net Assets 2016: $2,914,2692016Assets 2017: $8,808,352Liabilities 2017: $6,690,951Net Assets 2017: $2,117,4012017Assets 2018: $11,675,328Liabilities 2018: $7,846,637Net Assets 2018: $3,828,6912018Assets 2019: $5,681,704Liabilities 2019: $4,482,631Net Assets 2019: $1,199,0732019Assets 2020: $7,389,551Liabilities 2020: $2,312,871Net Assets 2020: $5,076,6802020Assets 2021: $11,273,834Liabilities 2021: $4,879,927Net Assets 2021: $6,393,9072021Assets 2022: $9,441,146Liabilities 2022: $4,750,373Net Assets 2022: $4,690,7732022Assets 2023: $10,232,191Liabilities 2023: $6,420,456Net Assets 2023: $3,811,7352023

Highlighted filing

2018

Assets$11,675,328
Liabilities$7,846,637
Net Assets$3,828,691
Open 2018 Filing

Operations Trend

Revenue Growth52nd percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $10,650,2032010Expenses 2011: $11,797,6542011Revenue 2012: $8,947,514Expenses 2012: $9,421,545Net Income 2012: -$474,0312012Revenue 2013: $13,882,940Expenses 2013: $9,462,423Net Income 2013: $4,420,5172013Revenue 2014: $8,341,962Expenses 2014: $9,238,387Net Income 2014: -$896,4252014Revenue 2015: $8,912,026Expenses 2015: $9,725,550Net Income 2015: -$813,5242015Revenue 2016: $10,113,391Expenses 2016: $10,443,747Net Income 2016: -$330,3562016Revenue 2017: $10,363,933Expenses 2017: $11,160,801Net Income 2017: -$796,8682017Revenue 2018: $10,866,144Expenses 2018: $11,657,311Net Income 2018: -$791,1672018Revenue 2019: $14,505,335Expenses 2019: $12,729,940Net Income 2019: $1,775,3952019Revenue 2020: $15,134,013Expenses 2020: $11,266,838Net Income 2020: $3,867,1752020Revenue 2021: $9,485,057Expenses 2021: $8,348,588Net Income 2021: $1,136,4692021Revenue 2022: $12,019,062Expenses 2022: $12,192,704Net Income 2022: -$173,6422022Revenue 2023: $8,860,427Expenses 2023: $10,667,730Net Income 2023: -$1,807,3032023

Highlighted filing

2018

Revenue$10,866,144
Expenses$11,657,311
Net Income-$791,167
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Feb 15, 2019
Return Version
2017v2.3
Gross Receipts
$10,866,144
Mission and Program Overview

Mission

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. Sobbo 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.

Sboedc's 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,856,351$3,848,317▲ $1,991,966
Land, Buildings, and Equipment, Net$2,876,207$2,523,602▼ $352,605
Accounts Receivable$679,259$921,028▲ $241,769
Cash and Non-Interest-Bearing Accounts$228,372$885,661▲ $657,289
Intangible Assets-$163,022-
Prepaid Expenses and Deferred Charges$81,028$79,794▼ $1,234
Other Notes and Loans Receivable, Net$2,769$2,769→ $0
Total Assets$7,886,378$11,675,328▲ $3,788,950
Other Assets Total$2,162,392$3,251,135▲ $1,088,743
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,342,776$5,178,269▲ $835,493
Accounts Payable and Accrued Expenses$190,801$1,703,946▲ $1,513,145
Other Liabilities$664,739$964,422▲ $299,683
Total Liabilities$5,198,316$7,846,637▲ $2,648,321
Net Assets / Fund Balance
Unrestricted Net Assets$2,479,616$3,607,646▲ $1,128,030
Temporarily Rstr Net Assets$208,446$221,045▲ $12,599
Total Net Assets Fund Balance$2,688,062$3,828,691▲ $1,140,629
Total Liabilities and Net Assets / Fund Balance$7,886,378$11,675,328▲ $3,788,950

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,307,840$5,100,788$7,408,628
Equipment$77,901$556,113$634,014
Land$133,345-$133,345
Leasehold Improvements$4,516$7,834$12,350
Other Assets Org$63,909--
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Phillip MorrowPresident (former)PT$115,361$32,003$115,361
Johanna DejesusSecretaryFT$102,400-$102,400
Nathaniel MontgomeryVice President (former)PT$69,904$36,836$69,904
Christie AlcidCFO (former)PT$59,762$26,042$59,762
Steven BrownPresidentPT$36,279$11,456$47,735

Board Members and Trustees

NameTitle
Jean SmithChairperson
Arline ParksBoard Member
Awilda CorderoBoard Member
Demetric a DuckettBoard Member
Diana HernandezBoard Member
Hugh GrantBoard Member
Mark L CastleBoard Member
Mark WillisBoard Member
Phillip Banks Jr IiiBoard Member
Simon BergsonBoard Member
Tracy WoodallBoard Member
Anthony M Riccio JrSecretary
Karen McguinnessTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,532,767
Program Service Revenue
$3,235,630
Investment Income
$47
Other Revenue
$97,700
All Other Contributions
$2,235,989
Change in Net Assets
$-791,167
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,524,957
Other Expenses$3,132,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,746,096$2,144,379-$6,890,475
Occupancy$195,287$620,976-$816,263
Payroll Taxes$142,504$521,357-$663,861
Other Employee Benefits$109,506$400,633-$510,139
Office Expenses$462,078$28,005-$490,083
Fees for Services Lobbying-$465,644-$465,644
Depreciation Depletion$124,699$267,213-$391,912
Current Officers, Directors, Trustees, and Key Employees$120,319$263,386-$383,705
Interest-$168,158-$168,158
Conferences and Meetings$110,351$10,961-$121,312
Travel$58,711$40,728-$99,439
Advertising$97,585$390-$97,975
Fees for Services Accounting-$77,000-$77,000
Pension Plan Contributions$16,481$60,296-$76,777
Insurance$21,647$23,242-$44,889
Fees for Services Legal-$37,568-$37,568
Information Technology$7,212--$7,212
Other Expenses$260$52-$312
Total Functional Expenses$6,442,809$5,214,502$0$11,657,311
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$97,700
Fundraising Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$86,275$86,275-$86,275
Sobro Expo$11,425$11,425-$11,425
Total Events$97,700$97,700-$97,700
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance From Government Agencies$796,601
Other Program Liabilities$121,697
Security Deposits$46,124
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
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, Part VI, Section B, Line 11B

“A draft copy of the 990 is provided to the organization's governing board. The board reviews the 990 and makes recommendations for changes. The board then approves the final return before it is submitted to the irs.”

Form 990, Part VI, Section B, Line 12C

“Annually the president reviews the conflict of interest policy and questionaires which are required to be signed by all board members and employees including directors, key employees and officers. If any conflicts esixt, the president reports any conflicts to the board chairman. If a conflict exists the party must excuse themselves from deliberations.”

Form 990, Part VI, Section B, Line 15A

“Throughtout sobro, compensation is market-based and set at levels that attract qualified candidates for any given position, and encourage top performers to stay.”

Form 990, Part VI, Section C, Line 18

“The documents are available upon request.”

Form 990, Part VI, Section C, Line 19

“The documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
South Bronx Overall Economic
EIN
13-2736022
Phone
7187323113
Address
555 BERGEN AVENUE, BRONX, NY 10455

Signing Officer

Name
Steven Brown
Title
President/CEO
Phone
7187323113
Signed
2019-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Brown
Formed
1972
Legal Domicile
Ny
Voting Board Members
19
Independent Board Members
18
Employees
492
Volunteers
5

Preparer

Firm
Tidwell Group LLC
Address
2001 PARK PLACE NORTH SUITE 900, BIRMINGHAM, AL 35203
Preparer
Joel T Mcdowell
Phone
2058221010
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2B:

“Employees are paid through a third-party common employer, checkpoint, and did not receive a w-2 from south bronx overall economic development corporation.”

FORM 990, PART XI, LINE 9:

“Net assets transferred from subsidiary 12,599.”

FORM 990, PART XII, LINE 2C:

“There are no changes to the process from prior year.”

Raw XML AppendixShowing 400 of 883 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0SBOEDC'S 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.
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IRS990/Desc0THE YOUTH DEVELOPMENT AND EDUCATION DEPARTMENT PROVIDED AFTER-SCHOOL, SUMMER YOUTH EMPLOYMENT, AND OUT-OF-SCHOOL YOUTH SERVICES TO 1,955 YOUNG PEOPLE BETWEEN THE AGES OF 5 AND 24. IN-SCHOOL AND AFTER-SCHOOL PROGRAMS ASSISTED A TOTAL OF 1258 ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS WITH HOMEWORK AND TUTORING, COLLEGE PREPARATION, ARTS AND CULTURAL ACTIVITIES, AND LEADERSHIP DEVELOPMENT. ADDITIONALLY, SUMMER INTERNSHIPS WERE PROVIDED TO OVER 1163 YOUTH THROUGH OUR SYEP PROGRAM AND 148 FOR SYEP/WLH PROGRAM DURING THE WINTER. PARTICIPANTS WERE PROVIDED ACADEMIC SUPPORT, CAREER AWARENESS TRAINING, WORK SKILLS DEVELOPMENT, AND LEADERSHIP TRAINING. THE SOBRO TRANSFORMATION ACADEMY, WHICH IS A COMBINATION OF THE YOUTHBUILD PROGRAM AND YOUNG ADULT JUSTICE SCHOLARS PROGRAM, SERVES AT-RISK YOUNG ADULTS TO EARN THEIR HIGH SCHOOL EQUIVALENCY (HSE) DIPLOMA, LEARN CONSTRUCTION AND JOB-READINESS SKILLS, AND RESOLVE PERSONAL BARRIERS TO SUCCESS WITH OUR MASTER SOCIAL WORKER. WE HAVE ALSO ACQUIRED A YOUTHBUILD SITE IN HARLEM AS WE AS A STARBUCKS FOUNDATION AND YOUTHBUILD USA FUNDED BARISTA TRAINING PROGRAM, WHICH WILL PROVIDE ADDITIONAL VOCATIONAL TRAINING OPPORTUNITIES FOR THE OUT-OF-SCHOOL YOUTH. SOBRO SERVED 89 PARTICIPANTS LAST YEAR. YOUNG ADULTS PARTICIPATING IN THE TRANSFORMATION ACADEMY CONTINUE TO BE OFFERED ENTREPRENEURIAL AND VOCATIONAL TRAINING OPPURTUNITIES, THROUGH OUR INNOVATIVE SOCIAL ENTERPRISES: SOBROX GRO URBAN FARM: WHERE YOU LEARN ABOUT THE BASICS OF URBAN FARMING THROUGH THE OPERATION OF A HYDROPONIC ROOFTOP FARM AND THE SOBRONX PRINT SHOP: WHERE THE YOUTH LEARN SCREEN PRINTING AND ENTREPRENEURIAL CONCEPTS THROUGH THE OPERATION OF A BUSINESS LOCATED IN THE BASEMENT OF VENTURE CENTER, SOBRO'S SMALL BUSINESS INCUBATOR.
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IRS990/Form990PartVIISectionAGrp/PersonNm0ANTHONY M RICCIO JR
IRS990/Form990PartVIISectionAGrp/PersonNm1ARLINE PARKS
IRS990/Form990PartVIISectionAGrp/PersonNm2AWILDA CORDERO
IRS990/Form990PartVIISectionAGrp/PersonNm3DEMETRIC A DUCKETT
IRS990/Form990PartVIISectionAGrp/PersonNm4DIANA HERNANDEZ
IRS990/Form990PartVIISectionAGrp/PersonNm5HUGH GRANT
IRS990/Form990PartVIISectionAGrp/PersonNm6JEAN SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm7KAREN MCGUINNESS
IRS990/Form990PartVIISectionAGrp/PersonNm8MARK L CASTLE
IRS990/Form990PartVIISectionAGrp/PersonNm9MARK WILLIS
IRS990/Form990PartVIISectionAGrp/PersonNm10PHILLIP BANKS JR III
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IRS990/Form990PartVIISectionAGrp/PersonNm12SIMON BERGSON
IRS990/Form990PartVIISectionAGrp/PersonNm13TRACY WOODALL
IRS990/Form990PartVIISectionAGrp/PersonNm14CHRISTIE ALCID
IRS990/Form990PartVIISectionAGrp/PersonNm15NATHANIEL MONTGOMERY
IRS990/Form990PartVIISectionAGrp/PersonNm16JOHANNA DEJESUS
IRS990/Form990PartVIISectionAGrp/PersonNm17STEVEN BROWN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT (FORMER)
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CFO (FORMER)
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENT (FORMER)
IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt17PRESIDENT
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IRS990/MissionDesc0OUR 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.
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IRS990/OfficeExpensesGrp/TotalAmt0490083
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IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1CATERING AND ENTERTAINM
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSES
IRS990/OtherExpensesGrp/Desc3ADMINISTRATIVE FEES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt252
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IRS990/PensionPlanContributionsGrp/TotalAmt076777
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt03848317
IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt079794
IRS990/PrincipalOfficerNm0STEVEN BROWN
IRS990/ProfessionalFundraisingInd01
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/BusinessCd3531110
IRS990/ProgramServiceRevenueGrp/Desc0CONTRACTED SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc2OTHER REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3MANAGEMENT FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1789588
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2384117
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3371819
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01690106
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1789588
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2384117
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3371819
IRS990/ProgSrvcAccomActy2Grp/Desc0THE PROCUREMENT AND TECHNICAL ASSISTANCE (PTAC) PROGRAM HELPED LOCAL BUSINESSES TO SECURE LUCRATIVE GOVERNMENT CONTRACTS. SOBRO'S PROCUREMENT AND MINORITY BUSINESS PROGRAMS MAINTAINS 197 ACTIVE BUSINESS CLIENTS, RECRUITED 264 NEW CLIENTS, PROVIDED 58 WORKSHOPS AND SPECIAL EVENTS, 219 ONE ON ONE SESSIONS, 6 RECERTIFICATIONS, 23 REFERRALS, AND HELPED CLIENTS SECURE $14.3 MILLION WORTH OF CONTRACTS. IN FY2017, THE M/WBE TEAM (WHICH INCLUDES MWBE LEADERSHIP ASSISTANCE AND TECHNICAL ASSISTANCE) HELD 220 ONE-ON-ONE SESSIONS, 30 WORKSHOPS, 29 STANDARD M/WBE CERTIFICATION SUBMISSIONS, ASSISTED WITH 10 RECERTIFICATION APPLICATIONS, AND FACILITATED 33 REFERRALS. THE MINORITY BUSINESS CENTER BRONX PROVIDES CORE BUSINESS SERVICES SUCH AS GLOBAL BUSINESS DEVELOPMENT, ACCESS TO CAPITAL, ACCESS TO CONTRACTS, ACCESS TO MARKETS, AND STRATEGIC BUSINESS CONSULTING. OVER THE THREE-YEAR PERIOD, THE CENTER ASSISTED CLIENTS WITH ACCESSING: $348 MILLION IN FINANCING TRANSACTIONS, $82 MILLION IN CONTRACTING AND PROCUREMENT OPPORTUNITIES, SERVED OVER 348 CUSTOMERS, REFERRED 157 CLIENTS TO OTHER SERVICES, IMPACTED 532 NEW JOBS, AND RETAINED 765 JOBS AS A RESULT OF IT SERVICES, AND FACILITATED OVER NINE STRATEGIC BUSINESS TRANSACTIONS. OUR INDUSTRIAL BUSINESS ZONE PROGRAMS HELPED FIVE CLIENTS SECURE $210,000 IN FINANCING, WE HOSTED EVENTS FOR 50 ATTENDEES, HELPED 11 CLIENTS ACCESS INCENTIVES, AND WE ASSISTED 17 CLIENTS WITH THE STARTUP AND LAUNCH OF PROJECTS. SOBRO SERVICES THREE BROWNFIELD OPPORTUNITY AREA CONTRACTS (PORT MORRIS HARLEM RIVER, PORT MORRIS EAST RIVER, AND EASTCHESTER) AND THE EPA BRONX RIVER-SHERIDAN EXPRESSWAY CORRIDOR. THE PROGRAMS CONTINUE TO SURVEY THOUSANDS OF RESIDENTS, CATALOG AND INVENTORY PROPERTIES (61), HOLD COMMUNITY VISIONING SESSIONS (7), AND INTERVIEW HUNDREDS OF RESIDENTS. ADDITIONALLY, 43 SMALL GROUP MEETINGS WERE HELD, 11 STEERING COMMITTEE MEEETINGS, AND ENGAGED OFVER 60,000 THROUGH DIGITAL COMMUNICATIONS.OTHER PROJECTS INCLUDE A NEW OCS FUNDING TO LEVERAGE OUR PARTNERSHIPS WITH THE SOUTH BRONX BUSINESS COMMUNITY THAT HELP TO INCREASE ACCESS TO HEALTHIER FOOD OPTIONS AND CREATE EMPLOYMENT OPPORTUNITIES. THE INITIATIVE CONSISTS OF A COLLABORATION BETWEEN SOBRO, THE SOUTH BRONX BASED UNITED BUSINESS COOPERATIVE (UBC), AND BORN CORP., THE FIRST COLD-PRESSED JUICE BAR AND HEALTH FOOD EATERY IN THE SOUTH BRONX. THIS INITIATIVE EMPLOYS AN HOLISTIC APPROACH THAT INCORPORATES COMMUNITY ENGAGEMENT, TECHNICAL ASSISTANCE TO PARTNER BUSINESSES, AND JOB CREATION. ADDITIONALLY, SOBRO IS STILL INVOLVED INTHE PROTECTION GREEN INFRASTRUCTURE PROGRAM AND THE ONGOING DEVELOPMENT OF THE ROBERTO CLEMENTE PLAZA.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0179614
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0145920
IRS990/ProgSrvcAccomActy3Grp/Desc0THE COMMUNITY AND ECONOMIC DEVELOPMENT DEPARTMENT (CED) ADMINISTERS AN ARRAY OF PROGRAMS THAT SEEK TO MAKE A LASTING IMPACT ON THE ECONOMIC, PHYSICAL, AND SOCIAL FABRIC OF OUR COMMUNITY. CED PROVIDED PROPERTY MANAGEMENT SERVICES IN THE BRONX AND UPPER MANHATTAN, AND BUSINESS ASSISTANCE SERVICES TO HUNDREDS OF NEW AND EXISTING CLIENTS. SOBRO'S BUSINESS INCUBATOR, THE VENTURE CENTER, HAS ALSO PROVIDED AN AFFORDABLE WORKING SPACE FOR BUSINESSES TO OPERATE AND GROW AND HAS AN OCCUPANCY RATE OF 98%.THE DEPARTMENT ALSO PROVIDES AN EXTENSIVE RANGE OF COMMERCIAL AND INDUSTRIAL BUSINESS INCENTIVES THROUGH PARTNERSHIPS WITH GOVERNMENT AGENCIES TO ATTRACT INVESTMENT AND ENSURE THAT EXISTING BUSINESSES CAN THRIVE. THE DEPARTMENT CONTINUED TO SUCCESSFULLY OPERATE MANY PROGRAMS THAT HAVE ATTRACTED THOUSANDS OF JOBS, HUNDREDS OF BUSINESSES, AND HUNDREDS OF MILLIONS OF DOLLARS IN INVESTMENT TO THE SOUTH BRONX THROUGHOUT SOBRO'S HISTORY.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0268281
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0118525
IRS990/ProgSrvcAccomActyOtherGrp/Desc0IN FY2018, SOBRO HAS PROVIDED CAREER DEVELOPMENT SERVICES TO HUNDREDS OF INDIVIDUALS, PLACING THEM INTO EMPLOYMENT AND DELIVERING JOB- READINESS TRAINING, WHICH INCLUDED A CUSTOMER SERVICE TRAINING COMPONENT AND NATIONALLY RECOGNIZED CERTIFICATION IN CUSTOMER SERVICE, SOBRO'S OUTCOMES FOR ADULT EDUCATION CLASSES HAVE CONSISTENTLY SURPASSED PROGRAM EVALUATION TARGETS.DURING THE PAST CONTRACT PERIOD, SOBRO HAS ACHIEVED THE FOLLOWING: -HELD 2 ABE AND 1 HIGH SCHOOL EQUIVALENCY CLASSES SERVING 61 STUDENTS-HELD 2 ENGLISH AS A SECOND LANGUAGE CLASSES SERVING 43 STUDENTS-TUTORED 22 STUDENTS-HELD 2 SPANISH CLASSES SERVING 37 STUDENTS-280 PARTICIPANTS RECEIVED THE SERVICES OF OUR WORKFORCE DEVELOPMENT DIVISION-177 SUCCESSFULLY RECEIVED CREDENTIALS-204 RECEIVED JOB ENTRIES (TRAINING AND DIRECT)
IRS990/ProgSrvcAccomActyOtherGrp/Desc1SOBRO HAS MORE THAN A DECADE OF EXPERIENCE DEVELOPING AND MANAGING COMMERCIAL AND RESIDENTIAL PROPERTIES, EVIDENCED BY OUR PORTFOLIO OF OVER 700 UNITS OF AFFORDABLE AND MARKET RATE HOUSING AND OVER A HUNDRED THOUSAND SQUARE FEET OF COMMERCIAL, INDUSTRIAL, AND OFFICE SPACE IN THE BRONX AND UPPER MANHATTAN. SOBRO'S HOUSING DEVELOPMENT EFFORTS INCLUDE REHABILITATING EXISTING BUILDINGS AND CREATING NEW BUILDINGS IN VACANT SPACE TO TRANSFORM BLIGHTING INFLUENCES INTO BEAUTIFUL AND VIABLE SPACES FOR LIVING AND WORKING. ONE OF SOBRO'S GOALS AND PART OF OUR COMPREHENSIVE STRATEGY FOR COMMUNITY DEVELOMENT IS TO INCREASE THE AVAILABILITY OF RENTAL HOUSING FOR LOW- AND MODERATE-INCOME FAMILIES. TO THIS END, WE BUILD NEW HOUSING, REHABILITATE VACANT PROPERTIES, AND PREVENT DETERIORATING HOUSING STOCK FROM BECOMING ABANDONED. SOBRO CURRENTLY HAS APPROXIMATELY 350 UNITS IN ITS PIPELINE AT VARIOUS STAGES OF DEVELOPMENT, WITH PROJECTED TOTAL DEVELOPMENT COSTS OF $250 MILLION. SOBRO BUILDS ATTRACTIVE, HIGH-QUALITY, AFFORDABLE APARTMENTS THAT OFFER RESIDENTS A PLEASANT LIVING ENVIRONMENT OF WHICH THEY CAN FEEL PROUD. OUR HIGH PERFORMANCE BUILDINGS ARE CONSTRUCTED TO NYSERDA AND ENTERPRISE GREEN COMMUNITIES SPECIFICATIONS, MAKING THEM AFFORDABLE AND ENVIRONMENTALLY SOUND.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2***INSERT NEW INDUSTRIAL DEVELOPMENT AND JOB CREATION PROGRAM SUMMARY***
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt1741008
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt2403505
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0512077
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt1541306
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt241771
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IRS990/PYTotalRevenueAmt012692298
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
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IRS990/ReconcilationRevenueExpnssAmt0-791167
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,675,328
Liabilities
$7,846,637
Net assets
$3,828,691
Revenue
$10,866,144
Expenses
$11,657,311
Net income
-$791,167
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$10.2$6.42$3.81$8.86$10.7$1.81
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.44$4.75$4.69$12.0$12.2$0.17
2021Detailed filing. Detailed filing data is available for this year.$11.3$4.88$6.39$9.49$8.35$1.14
2020Detailed filing. Detailed filing data is available for this year.$7.39$2.31$5.08$15.1$11.3$3.87
2019Detailed filing. Detailed filing data is available for this year.$5.68$4.48$1.20$14.5$12.7$1.78
2018Detailed filing. Detailed filing data is available for this year.$11.7$7.85$3.83$10.9$11.7$0.79
2017Detailed filing. Detailed filing data is available for this year.$8.81$6.69$2.12$10.4$11.2$0.80
2016Detailed filing. Detailed filing data is available for this year.$9.27$6.35$2.91$10.1$10.4$0.33
2015Detailed filing. Detailed filing data is available for this year.$10.1$6.93$3.19$8.91$9.73$0.81
2014Detailed filing. Detailed filing data is available for this year.$9.84$5.84$4.00$8.34$9.24$0.90
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$6.66$4.90$13.9$9.46$4.42
2012Summary only. Only limited summary data is available for this year.$9.01$8.73$0.28$8.95$9.42$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.68$8.92$0.76$11.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$9.38$1.06$10.7