Civic Intelligence

South Bronx Overall Economic Development Corporation

990 • Fiscal year 2019 • EIN 13-2736022

Apr 01, 2018 to Mar 31, 2019 • Filed on Jul 31, 2021

Organization ProfileWWW.SOBRO.ORG

View Organization Page

555 Bergen AvenueBronx, NY 10455

(718) 292-3113

Siviq Scores

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

Liabilities / Assets

86th percentile

0.79x

Higher debt load relative to assets than 86% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

58th percentile

0.31x

Higher debt load relative to revenue than 58% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

65th percentile

$225,740

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

1st percentile

-51%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

85th percentile

33%

Faster revenue growth than 85% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$5,681,704

Down $5,993,624 (-51%) from 2018

Net Assets

Down

$1,199,073

Down $2,629,618 (-69%) from 2018

Liabilities

Down

$4,482,631

Down $3,364,006 (-43%) from 2018

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin71st percentile

Revenue

Up

$14,505,335

Up $3,639,191 (+33%) from 2018

Expenses

Up

$12,729,940

Up $1,072,629 (+9.2%) from 2018

Net Income

Up

$1,775,395

Up $2,566,562 (+324%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2019

Assets$5,681,704
Liabilities$4,482,631
Net Assets$1,199,073
Open 2019 Filing

Operations Trend

Revenue Growth85th 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

2019

Revenue$14,505,335
Expenses$12,729,940
Net Income$1,775,395
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2018 to Mar 31, 2019
Signed
Jul 31, 2021
Return Version
2018v3.3
Gross Receipts
$14,561,696
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.

To enhance the quality of life in the south bronx by strengthening businesses and creating innovative economic, housing, educational and career development programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,498,252$2,217,997▼ $280,255
Accounts Receivable$317,607$890,999▲ $573,392
Pledges and Grants Receivable$416,209$0▼ $416,209
Prepaid Expenses and Deferred Charges$80,794$151,483▲ $70,689
Other Notes and Loans Receivable, Net$2,769$2,769→ $0
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$5,345,087$5,681,704▲ $336,617
Other Assets Total$2,029,456$2,418,456▲ $389,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,400,478$3,523,457▲ $122,979
Accounts Payable and Accrued Expenses$1,265,250$592,104▼ $673,146
Deferred Revenue$535,709$0▼ $535,709
Other Liabilities$719,972$367,070▼ $352,902
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,921,409$4,482,631▼ $1,438,778
Net Assets / Fund Balance
Unrestricted Net Assets$-594,822$1,180,573▲ $1,775,395
Temporarily Rstr Net Assets$18,500$18,500→ $0
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$-576,322$1,199,073▲ $1,775,395
Total Liabilities and Net Assets / Fund Balance$5,345,087$5,681,704▲ $336,617

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,016,945$5,082,834$7,099,779
Equipment$63,686$587,281$650,967
Land$133,345-$133,345
Leasehold Improvements$4,021$8,329$12,350
Other Assets Org$140,344--
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steven BrownPresident & CEOPT$209,564$16,176$225,740

Board Members and Trustees

NameTitle
Mark CastleChair
Arline ParksVice Chair
Jean SmithVice Chair
Demetric DuckettBoard Member
Hugh GrantBoard Member
Mark WillisBoard Member
Patricia RockBoard Member
Phillip Banks Jr IIIBoard Member
Simon BergsonBoard Member
Tracy WoodallBoard Member
Lesia BatesInterim CFO
Anthony RiccioSecretary
Karen McGuinnessTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
149th Street Realty Associates LPRetail Leasing110 WEST 34TH STREET 9TH FLOOR, New York, NY 10001$504,731
Winfield SecuritySecurity57 WEST 38TH STREET 5TH FLOOR, New York, NY 10018$346,107
Standard Waterproofing CorporationConstruction701 EAST 134TH STREET, Bronx, NY 10454$228,587
Bates Consulting Group LLCManagement SERVICES50 PLAZA STREET EAST SUITE 8D, Brooklyn, NY 11238$215,300
Global Cluster Nyc CorpIT Consulting179 W ROCKS Road, Brooklyn, NY 06851$127,897
Revenue and Support

Revenue Composition

Contributions and Grants
$8,190,342
Program Service Revenue
$6,197,975
Investment Income
$0
Other Revenue
$117,018
All Other Contributions
$2,232,519
Change in Net Assets
$1,775,395
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,918,710
Other Expenses$4,811,230
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,081,377$2,581,213$0$6,662,590
Occupancy$125,778$1,177,426-$1,303,204
Fees for Services Other$446,406$746,823-$1,193,229
Office Expenses$716,296$245,955-$962,251
Payroll Taxes$317,503$209,015-$526,518
Other Employee Benefits$252,002$162,917-$414,919
Depreciation Depletion-$311,658-$311,658
Current Officers, Directors, Trustees, and Key Employees$74,726$163,579-$238,305
Travel$192,406$7,476-$199,882
Information Technology$52,717$105,427-$158,144
Interest-$157,995-$157,995
Fees for Services Legal-$114,776-$114,776
Pension Plan Contributions$49,560$26,818-$76,378
Other Expenses$21,760$21,090-$42,850
Fees for Services Accounting-$31,143-$31,143
Total Functional Expenses$6,330,531$6,399,409$0$12,729,940
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$56,361
Fundraising Gross Income$10,650
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$145,192$10,650$14,077$-3,427
Total Events$145,192$10,650$56,361$-45,711
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lesia BatesOWNS MORE THAN 35% OF Bates Consulting Group, LLCManagement AgreementNo$327,200

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Cash Overdraft$319,046
Security Deposits$48,024
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3

“South bronx overall economic development corporation hired bates consulting group, llc to provide an interim chief financial officer. Bates consulting group, llc provided lesia bates, owner of bates consulting group, llc, to provide these services. Lesia bates acted as the interim cfo for south bronx overall economic development corporation and related organizations. During the fiscal year, south bronx overall economic development corporation paid bates consulting group, llc $327,200 for their services.”

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

“Throughout 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 19

“The documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
South Bronx Overall Economic
EIN
13-2736022
In Care Of
% KAREN MCGUINNESS
Phone
7182923113
Address
555 BERGEN AVENUE, BRONX, NY 10455

Signing Officer

Name
Lourdes Zapata
Title
President & CEO
Phone
7182923113
Signed
2021-07-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lourdes Zapata
Formed
1972
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
479
Volunteers
12

Preparer

Firm
Bkd Llp
Address
1155 Avenue of the Americas 1200, New York, NY 10036
Preparer
Aaron Shapiro
Phone
2128674000
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

“Asc 740 footnote management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identitfied any material uncertain tax positions to be recorded or disclosed in the financial statements.”

Raw XML AppendixShowing 400 of 877 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/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 1,258 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 1,163 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 YOUNGADULT JUSTICE SCHOLARS PROGRAM, SERVES AT-RISK YOUNG ADULTS TO EARN THEIR HIGH SCHOOL EQUIVALENCY (HSE) DIPLOMA, LEARN CONSTRUCTION ANDJOB-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 FUNDEDBARISTA 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/PersonNm1Jean Smith
IRS990/Form990PartVIISectionAGrp/PersonNm2Arline Parks
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IRS990/Form990PartVIISectionAGrp/PersonNm4Karen McGuinness
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IRS990/Form990PartVIISectionAGrp/PersonNm7Hugh Grant
IRS990/Form990PartVIISectionAGrp/PersonNm8Patricia Rock
IRS990/Form990PartVIISectionAGrp/PersonNm9Mark Willis
IRS990/Form990PartVIISectionAGrp/PersonNm10Demetric Duckett
IRS990/Form990PartVIISectionAGrp/PersonNm11Tracy Woodall
IRS990/Form990PartVIISectionAGrp/PersonNm12Steven Brown
IRS990/Form990PartVIISectionAGrp/PersonNm13Lesia Bates
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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. 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.
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2373818
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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 FY 2019, THE M/WBE TEAM (WHICH INCLUDES MWBE LEADERSHIP ASSISTANCE AND TECHNICAL ASSISTANCE) HELD 220 ONE-ON-ONESESSIONS, 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 TOLEVERAGE 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 BARAND 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 IN THE PROTECTION GREEN INFRASTRUCTURE PROGRAM AND THE ONGOING DEVELOPMENT OF THE ROBERTO CLEMENTE PLAZA.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt05442653
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/ExpenseAmt0895020
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Industrial Development and Job Creation
IRS990/ProgSrvcAccomActyOtherGrp/Desc1Community Development

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,681,704
Liabilities
$4,482,631
Net assets
$1,199,073
Revenue
$14,505,335
Expenses
$12,729,940
Net income
$1,775,395
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