Civic Intelligence

Grow Brooklyn Inc.

990 • Fiscal year 2017 • EIN 26-1410513

Oct 01, 2016 to Sep 30, 2017 • Filed on Apr 06, 2018

Organization Profilewww.growbrooklyn.org

View Organization Page

1474 Myrtle AvenueBrooklyn, NY 11237

(718) 418-8232

Siviq Scores

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

Liabilities / Assets

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • NTEE P • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • NTEE P • $500k-$1M nonprofits • Source year 2017

Net Margin

50th percentile

2.7%

Higher net margin than 50% of similar nonprofits.

2017 filings • NTEE P • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

88th percentile

$105,925

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2017 filings • NTEE P • $500k-$1M nonprofits • Source year 2017

Asset Growth

79th percentile

35%

Faster asset growth than 79% of similar nonprofits.

2017 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

91%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$61,838

Up $16,097 (+35%) from 2016

Net Assets

Up

$61,838

Up $19,847 (+47%) from 2016

Liabilities

Down

$0

Down $3,750 (-100%) from 2016

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin50th percentile

Revenue

Up

$723,387

Up $343,693 (+91%) from 2016

Expenses

Up

$703,540

Up $123,054 (+21%) from 2016

Net Income

Up

$19,847

Up $220,639 (+110%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$3.0M$2.0M$1.0M$0Assets 2012: $188,630Liabilities 2012: $25,975Net Assets 2012: $162,6552012Assets 2013: $169,314Liabilities 2013: $0Net Assets 2013: $169,3142013Assets 2016: $45,741Liabilities 2016: $3,750Net Assets 2016: $41,9912016Assets 2017: $61,838Liabilities 2017: $0Net Assets 2017: $61,8382017Assets 2019: $175,296Liabilities 2019: $0Net Assets 2019: $175,2962019Assets 2020: $494,116Liabilities 2020: $232,947Net Assets 2020: $261,1692020Assets 2021: $930,864Liabilities 2021: $545,000Net Assets 2021: $385,8642021Assets 2022: $920,156Liabilities 2022: $389,091Net Assets 2022: $531,0652022Assets 2023: $2,219,797Liabilities 2023: $1,457,351Net Assets 2023: $762,4462023Assets 2024: $1,915,145Liabilities 2024: $1,173,480Net Assets 2024: $741,6652024

Highlighted filing

2017

Assets$61,838
Liabilities$0
Net Assets$61,838
Open 2017 Filing

Operations Trend

Revenue Growth93rd percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $227,1732012Revenue 2013: $361,055Expenses 2013: $354,396Net Income 2013: $6,6592013Revenue 2016: $379,694Expenses 2016: $580,486Net Income 2016: -$200,7922016Revenue 2017: $723,387Expenses 2017: $703,540Net Income 2017: $19,8472017Revenue 2019: $867,741Expenses 2019: $847,856Net Income 2019: $19,8852019Revenue 2020: $1,123,412Expenses 2020: $1,037,539Net Income 2020: $85,8732020Revenue 2021: $1,128,015Expenses 2021: $1,003,320Net Income 2021: $124,6952021Revenue 2022: $1,322,701Expenses 2022: $1,177,500Net Income 2022: $145,2012022Revenue 2023: $1,516,327Expenses 2023: $1,334,704Net Income 2023: $181,6232023Revenue 2024: $1,500,978Expenses 2024: $1,464,570Net Income 2024: $36,4082024

Highlighted filing

2017

Revenue$723,387
Expenses$703,540
Net Income$19,847
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Apr 6, 2018
Return Version
2016v3.0
Gross Receipts
$723,387
Mission and Program Overview

Mission

Grow brooklyn is a brooklyn based non-profit organization whose mission is to enable members of its community to preserve and grow their assets, thereby securing their economic future.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$41,043$30,321▼ $10,722
Accounts Receivable-$25,602-
Land, Buildings, and Equipment, Net$3,405$3,113▼ $292
Prepaid Expenses and Deferred Charges$1,293$2,802▲ $1,509
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$45,741$61,838▲ $16,097
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,750--
Total Liabilities$3,750$0▼ $3,750
Net Assets / Fund Balance
Unrestricted Net Assets$41,991$61,838▲ $19,847
Total Net Assets Fund Balance$41,991$61,838▲ $19,847
Total Liabilities and Net Assets / Fund Balance$45,741$61,838▲ $16,097

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,113$13,301$16,414
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleBaseTotal
Samira RajanPresident$105,925$105,925

Board Members and Trustees

NameTitle
Alexander B SteinChairman
Kelly RichardsonDirector
Kristen EuretigDirector
Patricia BayleyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$719,839
Program Service Revenue
$3,548
Investment Income
$0
Other Revenue
$0
All Other Contributions
$109,246
Change in Net Assets
$19,847

Audited Revenue Reconciliation

Revenue per Audited Statements
$723,387
Revenue Not Reported on Form 990
$24,964
Total Revenue per Audited Statements
$748,351
Total Revenue per Form 990
$723,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$582,360
Other Expenses$121,180
Total Fundraising Expense$6,962
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$405,588$116,095-$521,683
Payroll Taxes$44,181$10,363-$54,544
Fees for Services Other$28,733$8,741$6,962$44,436
Occupancy$32,732--$32,732
Travel$6,551$374-$6,925
Fees for Services Accounting-$6,900-$6,900
Other Employee Benefits$4,968$1,165-$6,133
Advertising$4,666$371-$5,037
Insurance$1,741$3,170-$4,911
Depreciation Depletion-$1,932-$1,932
Other Expenses$1,140$456-$456
Total Functional Expenses$545,876$150,702$6,962$703,540

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$728,504
Expenses per Audited Statements$703,540
Total Expenses per Form 990$703,540
Expenses Not Reported on Form 990$24,964
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Members are comprised solely of the directors of brooklyn cooperative federal credit union”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A draft of form 990 is provided to all directors. Any and all questions were addressed and thereafter, the return was filed.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All key employees, directors and officers provide an update to the organization for any potential conflicts which are reviewed by and discussed with the board to determine if any actual conflicts exist.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Federal forms 990 and 1023, as well as other relevant organization information are available by request from guidestar.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Financial statements, federal forms 990 and 1023, as well as other relevant organization inforamtion are available by request from guidestar.”

Filing and Contact Details

Filer

Filer Name
Grow Brooklyn Inc
EIN
26-1410513
Phone
7184188232
Address
1474 Myrtle Avenue, Brooklyn, NY 11237

Signing Officer

Name
Samira Rajan
Title
Executive Director
Signed
2018-04-06
Discuss with paid preparer
Yes

Organization Details

Formed
2007
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
50
Volunteers
95

Preparer

Firm
Wei Wei & Co Llp
Address
13310 39TH AVE, FLUSHING, NY 11354-4400
Preparer
Steve Wei CPA
Phone
7184456308
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“Other program services 4: home ownership counseling workshops will lead first-time homebuyers though a process of buying a home. Guest speakers come and speak about the process and allow home buyers to ask questions.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0GROW BROOKLYN IS A HUD APPROVED HOUSING COUNSELING AGENCY. IT OFFERS FREE FORECLOSURE PREVENTION COUNSELING IN ONE OF NEW YORK CITY'S HARDEST HIT NEIGHBORHOODS, IN TERMS OF FORECLOSURES. ABOUT 300 HOMEOWNERS ARE SEEN ANNUALLY BY THE COUNSELING STAFF, MANY OF WHOM ARE ABLE TO SUCCESSFULLY MODIFY THE TERMS OF THEIR MORTGAGE IN A WAY THAT ENABLES THEM TO REMAIN IN THEIR HOME.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Through a program called Protect Your Treasure, Grow Brooklyn has begun to offer estate planning and estate administration advice, and limited legal services, in connection with its foreclosure prevention services. Grow Brooklyn found that 10-15% of clients facing foreclosure had overlapping estate issues which often prevented a successful resolution of the foreclosure. Through Protect Your Treasure, Grow Brooklyn helps individuals and families in low income communities maintain their financial assets including their homes.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: HOME OWNERSHIP COUNSELING WORKSHOPS WILL LEAD FIRST-TIME HOMEBUYERS THOUGH A PROCESS OF BUYING A HOME. GUEST SPEAKERS COME AND SPEAK ABOUT THE PROCESS AND ALLOW HOME BUYERS TO ASK QUESTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ARE COMPRISED SOLELY OF THE DIRECTORS OF BROOKLYN COOPERATIVE FEDERAL CREDIT UNION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT OF FORM 990 IS PROVIDED TO ALL DIRECTORS. ANY AND ALL QUESTIONS WERE ADDRESSED AND THEREAFTER, THE RETURN WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL KEY EMPLOYEES, DIRECTORS AND OFFICERS PROVIDE AN UPDATE TO THE ORGANIZATION FOR ANY POTENTIAL CONFLICTS WHICH ARE REVIEWED BY AND DISCUSSED WITH THE BOARD TO DETERMINE IF ANY ACTUAL CONFLICTS EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FEDERAL FORMS 990 AND 1023, AS WELL AS OTHER RELEVANT ORGANIZATION INFORMATION ARE AVAILABLE BY REQUEST FROM GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS, FEDERAL FORMS 990 AND 1023, AS WELL AS OTHER RELEVANT ORGANIZATION INFORAMTION ARE AVAILABLE BY REQUEST FROM GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BROOKLYN COOPERATIVE CREDIT UNION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)1
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$61,838
Liabilities
$0
Net assets
$61,838
Revenue
$723,387
Expenses
$703,540
Net income
$19,847
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$1.17$0.74$1.50$1.46$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.22$1.46$0.76$1.52$1.33$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.39$0.53$1.32$1.18$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.55$0.39$1.13$1.00$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.23$0.26$1.12$1.04$0.09
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$0.87$0.85$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.72$0.70$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.05$0.00$0.04$0.38$0.58$0.20
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.00$0.17$0.36$0.35$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.03$0.16$0.23