Civic Intelligence

Bronx Overall Economic Development

EIN 13-3079387 • 501(c)3 • Bronx, NY

Profile

The mission of boedc is to assist existing bronx based businesses to expand and to encourage additional businesses to start-up in or relocate to bronx county. In fulfilling this mission boedc seeks to maximize employment opportunities for bronx residents. Boedc provides a wide array of programs and services to its clients, including site selection; special projects; procurement assistance; liason services with government agencies; information dissemination; job development and capacity building.

851 Grand Concourse Suite 123Bronx, NY 10451-2937

www.boedc.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

15th percentile

0.02x

Higher debt load relative to assets than 15% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

32nd percentile

0.17x

Higher debt load relative to revenue than 32% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

6th percentile

-36%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

19th percentile

-2.1%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

90th percentile

64%

Faster revenue growth than 90% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$26,267,663

Down $564,958 (-2.1%) from 2023

Liabilities

Up

$490,089

Up $149,456 (+44%) from 2023

Net Assets

Down

$25,777,574

Down $714,414 (-2.7%) from 2023

Operations
Liabilities / Revenue32nd percentileNet Margin6th percentile

Revenue

Up

$2,816,534

Up $1,096,941 (+64%) from 2023

Expenses

Up

$3,836,460

Up $1,643,006 (+75%) from 2023

Net Income

Down

-$1,019,926

Down $546,065 (-115%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth19th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2011: $30,774,036Liabilities 2011: $902,200Net Assets 2011: $29,871,8362011Assets 2012: $29,597,398Liabilities 2012: $769,694Net Assets 2012: $28,827,7042012Assets 2013: $29,088,845Liabilities 2013: $955,061Net Assets 2013: $28,133,7842013Assets 2014: $29,276,622Liabilities 2014: $843,187Net Assets 2014: $28,433,4352014Assets 2015: $28,479,735Liabilities 2015: $1,232,915Net Assets 2015: $27,246,8202015Assets 2016: $28,069,354Liabilities 2016: $1,263,860Net Assets 2016: $26,805,4942016Assets 2017: $28,235,573Liabilities 2017: $1,586,033Net Assets 2017: $26,649,5402017Assets 2018: $28,381,951Liabilities 2018: $2,077,067Net Assets 2018: $26,304,8842018Assets 2019: $27,986,207Liabilities 2019: $1,536,721Net Assets 2019: $26,449,4862019Assets 2020: $28,320,847Liabilities 2020: $1,423,195Net Assets 2020: $26,897,6522020Assets 2021: $27,862,417Liabilities 2021: $893,924Net Assets 2021: $26,968,4932021Assets 2022: $26,821,106Liabilities 2022: $240,883Net Assets 2022: $26,580,2232022Assets 2023: $26,832,621Liabilities 2023: $340,633Net Assets 2023: $26,491,9882023Assets 2024: $26,267,663Liabilities 2024: $490,089Net Assets 2024: $25,777,5742024

Highlighted filing

2024

Assets$26,267,663
Liabilities$490,089
Net Assets$25,777,574
Open 2024 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2011: $3,441,298Expenses 2011: $2,881,587Net Income 2011: $559,7112011Revenue 2012: $2,222,754Expenses 2012: $3,523,817Net Income 2012: -$1,301,0632012Revenue 2013: $2,071,062Expenses 2013: $2,651,812Net Income 2013: -$580,7502013Revenue 2014: $1,906,070Expenses 2014: $1,812,863Net Income 2014: $93,2072014Revenue 2015: $1,805,560Expenses 2015: $2,037,757Net Income 2015: -$232,1972015Revenue 2016: $1,649,365Expenses 2016: $2,090,691Net Income 2016: -$441,3262016Revenue 2017: $1,241,392Expenses 2017: $1,980,222Net Income 2017: -$738,8302017Revenue 2018: $1,998,595Expenses 2018: $2,372,802Net Income 2018: -$374,2072018Revenue 2019: $1,890,018Expenses 2019: $1,940,317Net Income 2019: -$50,2992019Revenue 2020: $2,023,010Expenses 2020: $1,747,993Net Income 2020: $275,0172020Revenue 2021: $2,319,012Expenses 2021: $1,837,808Net Income 2021: $481,2042021Revenue 2022: $1,376,717Expenses 2022: $1,748,198Net Income 2022: -$371,4812022Revenue 2023: $1,719,593Expenses 2023: $2,193,454Net Income 2023: -$473,8612023Revenue 2024: $2,816,534Expenses 2024: $3,836,460Net Income 2024: -$1,019,9262024

Highlighted filing

2024

Revenue$2,816,534
Expenses$3,836,460
Net Income-$1,019,926
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,267,663
Liabilities
$490,089
Net assets
$25,777,574
Revenue
$2,816,534
Expenses
$3,836,460
Net income
-$1,019,926
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.3$0.49$25.8$2.82$3.84$1.02
2023Detailed filing. Detailed filing data is available for this year.$26.8$0.34$26.5$1.72$2.19$0.47
2022Detailed filing. Detailed filing data is available for this year.$26.8$0.24$26.6$1.38$1.75$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.9$0.89$27.0$2.32$1.84$0.48
2020Detailed filing. Detailed filing data is available for this year.$28.3$1.42$26.9$2.02$1.75$0.28
2019Detailed filing. Detailed filing data is available for this year.$28.0$1.54$26.4$1.89$1.94$0.05
2018Detailed filing. Detailed filing data is available for this year.$28.4$2.08$26.3$2.00$2.37$0.37
2017Detailed filing. Detailed filing data is available for this year.$28.2$1.59$26.6$1.24$1.98$0.74
2016Detailed filing. Detailed filing data is available for this year.$28.1$1.26$26.8$1.65$2.09$0.44
2015Detailed filing. Detailed filing data is available for this year.$28.5$1.23$27.2$1.81$2.04$0.23
2014Detailed filing. Detailed filing data is available for this year.$29.3$0.84$28.4$1.91$1.81$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.1$0.96$28.1$2.07$2.65$0.58
2012Summary only. Only limited summary data is available for this year.$29.6$0.77$28.8$2.22$3.52$1.30
2011Summary only. Only limited summary data is available for this year.$30.8$0.90$29.9$3.44$2.88$0.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 7, 2025
Return Version
2023v6.0
Gross Receipts
$53,751,432
Mission and Program Overview

Mission

The mission of boedc is to assist existing bronx based businesses to expand and to encourage additional businesses to start-up in or relocate to bronx county. In fulfilling this mission boedc seeks to maximize employment opportunities for bronx residents. Boedc provides a wide array of programs and services to its clients, including site selection; special projects; procurement assistance; liason services with government agencies; information dissemination; job development and capacity building.

The Bronx Overall Economic Development Corporation ("BXEDC")assists bronx Businesses to expand and to encourage start-up or relocation to Bronx County.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$20,769,800$21,399,229▲ $629,429
Savings and Temporary Cash Investments$2,489,824$1,725,745▼ $764,079
Cash and Non-Interest-Bearing Accounts$1,361,313$882,289▼ $479,024
Pledges and Grants Receivable$763,767$863,957▲ $100,190
Other Notes and Loans Receivable, Net$1,112,355$770,238▼ $342,117
Accounts Receivable$0$206,287▲ $206,287
Receivables From Officers Etc$0$175,000▲ $175,000
Land, Buildings, and Equipment, Net$295,904$174,269▼ $121,635
Prepaid Expenses and Deferred Charges$29,322$25,469▼ $3,853
Receivable From Disqualified Prsn$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$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$26,832,621$26,267,663▼ $564,958
Other Assets Total$10,336$45,180▲ $34,844
Liabilities
Accounts Payable and Accrued Expenses$224,822$274,391▲ $49,569
Other Liabilities$811$214,887▲ $214,076
Deferred Revenue$115,000$0▼ $115,000
Mortgage Notes Payable Secured by Investment Property$0$811▲ $811
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$340,633$490,089▲ $149,456
Net Assets / Fund Balance
Net Assets With Donor Restrictions$21,677,950$21,997,813▲ $319,863
Net Assets Without Donor Restrictions$4,814,038$3,779,761▼ $1,034,277
Total Net Assets Fund Balance$26,491,988$25,777,574▼ $714,414
Total Liabilities and Net Assets / Fund Balance$26,832,621$26,267,663▼ $564,958

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$174,269$178,394$352,663
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert WalshPresidentFT$215,692-$215,692
Duncan StillChief Financial OfficerFT$133,465$14,661$148,126
Sulma V Arzu - BrownExecutive DirectorFT$104,923-$104,923
Angely OrbeChief Financial OfficerFT$47,000$19,202$66,202
Rafael RogerVice PresidentFT$20,000-$20,000

Board Members and Trustees

NameTitle
Clarence Stanley JrChairman
Kathy ZamechanskyVice Chair
Brian SmithBoard Member
Dan HerdoonBoard Member
Eddy Bayardelle PhDBoard Member
Julio E Reyes JrBoard Member
Lourdes ZapataBoard Member
Nallely De JessBoard Member
Phillip GrantBoard Member
Winston PetersBoard Member
Yesenia QuinonesBoard Member
Young WooBoard Member
Benjamin AranaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,996,737
Program Service Revenue
$20,041
Investment Income
$796,714
Other Revenue
$3,042
All Other Contributions
$372,366
Change in Net Assets
$-1,019,926

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,816,534
Revenue Not Reported on Form 990
$484,392
Total Revenue per Audited Statements
$3,300,926
Total Revenue per Form 990
$2,816,534
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,368,550
Salaries, Compensation, and Employee Benefits$1,342,260
Grants and Similar Amounts Paid$1,125,650
Total Fundraising Expense$250,488
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,125,650--$1,125,650
Other Salaries and Wages$589,021$81,505$45,709$716,235
Current Officers, Directors, Trustees, and Key Employees$443,200$44,434-$487,634
Advertising$260,752-$38,535$299,287
Fees for Services Other$198,173$0$23,470$221,643
Office Expenses$137,859$9,151$44,977$191,987
Payroll Taxes$72,498$8,430$3,372$84,300
Other Expenses$378,909-$70,816$70,816
Conferences and Meetings$52,584-$9,700$62,284
Insurance$41,976$2,171$10,116$54,263
Other Employee Benefits$49,857$441$3,793$54,091
Fees for Services Accounting$38,834$12,381-$51,215
Occupancy$24,967--$24,967
Depreciation Depletion$21,609--$21,609
Fees for Services Legal$10,852--$10,852
Total Functional Expenses$3,427,459$158,513$250,488$3,836,460

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,015,340
Expenses per Audited Statements$3,836,460
Total Expenses per Form 990$3,836,460
Expenses Not Reported on Form 990$178,880
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Research Foundation Of The City University Of NYNew York, NY501(c)(3)To invest in campus and community environmental sustainability.$1,000,000
Gomez Design Studio LLCBronx, NY501(c)(3)To support a growing small business that was not qualified for our loan project.$10,000
The Bronx Museum of the ArtsBronx, NY-To grant museum ownership of land space previously given to BXEDC due to default on loan.-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$226,534
Fundraising Gross Income$226,534
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bronx Event$512,155$226,534$78,859$147,675
Total Events$512,155$226,534$226,534-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$0$175,000▲ $175,000
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances$165,000
Lease Liability$46,103
Due From/to Related Parties$3,784
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
Yes
Other officer compensation reviewed
Yes
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

“The draft of the form 990 will be provided to the executive committee for their review and approval. A final copy will be distributed to the full board prior to filing the form 990.”

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

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Form 990, Part VI, Section B, Line 15

“A budget is prepared by the fiscal department, which includes the executive director's and officers' compensation, and is ultimately approved by the board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Bronx Overall Economic Development
EIN
13-3079387
In Care Of
% MARLENE CINTRON
Phone
7185906201
Address
851 Grand Concourse Suite 123, Bronx, NY 10451-2937

Signing Officer

Name
Robert Walsh
Title
President
Phone
7185906201
Signed
2025-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Walsh
Formed
1981
Legal Domicile
Ny
Voting Board Members
14
Independent Board Members
13
Employees
21
Volunteers
150

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Catherine Bendall
Phone
7328281614
Supplemental Narrative

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

“The corporation is exempt from federal income taxes pursuant to the provisions of section 501(c)(3) of the internal revenue code and from new york state income taxes under applicable state law. Accordingly, no provision for federal or state income taxes has been recorded in the statements of activities. Management has determined that there are no uncertain tax positions at the corporation as of june 30, 2024 and 2023. In addition, the corporation has no income tax related penalties or interest for the periods reported in these financial statements.”

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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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