Civic Intelligence

East River Development Alliance Inc.

990 • Fiscal year 2022 • EIN 86-1096987

Jul 01, 2021 to Jun 30, 2022 • Filed on May 09, 2023

12-11 40 Th AvenueLong Island City, NY 11101

(718) 784-0877

Siviq Scores

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

Liabilities / Assets

34th percentile

0.40x

Higher debt load relative to assets than 34% of similar nonprofits.

2022 filings • NTEE L • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

18th percentile

0.24x

Higher debt load relative to revenue than 18% of similar nonprofits.

2022 filings • NTEE L • $10M-$25M nonprofits • Source year 2022

Net Margin

74th percentile

26%

Higher net margin than 74% of similar nonprofits.

2022 filings • NTEE L • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

46th percentile

$186,463

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2022 filings • NTEE L • $10M-$25M nonprofits • Source year 2022

Asset Growth

98th percentile

215%

Faster asset growth than 98% of similar nonprofits.

2022 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

93rd percentile

94%

Faster revenue growth than 93% of similar nonprofits.

2022 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$8,396,671

Up $5,732,438 (+215%) from 2021

Net Assets

Up

$5,012,054

Up $3,539,930 (+240%) from 2021

Liabilities

Up

$3,384,617

Up $2,192,508 (+184%) from 2021

Revenue

Up

$13,855,965

Up $6,710,466 (+94%) from 2021

Expenses

Up

$10,316,035

Up $3,492,935 (+51%) from 2021

Net Income

Up

$3,539,930

Up $3,217,531 (+998%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $358,858Liabilities 2011: $76,196Net Assets 2011: $282,6622011Assets 2012: $666,027Liabilities 2012: $363,841Net Assets 2012: $302,1862012Assets 2013: $735,636Liabilities 2013: $398,228Net Assets 2013: $337,4082013Assets 2014: $1,095,829Liabilities 2014: $693,310Net Assets 2014: $402,5192014Assets 2015: $1,190,786Liabilities 2015: $598,982Net Assets 2015: $591,8042015Assets 2016: $952,545Liabilities 2016: $316,140Net Assets 2016: $636,4052016Assets 2017: $1,704,696Liabilities 2017: $1,064,665Net Assets 2017: $640,0312017Assets 2018: $2,089,884Liabilities 2018: $1,322,480Net Assets 2018: $767,4042018Assets 2019: $1,495,952Liabilities 2019: $714,517Net Assets 2019: $781,4352019Assets 2020: $2,151,758Liabilities 2020: $1,002,033Net Assets 2020: $1,149,7252020Assets 2021: $2,664,233Liabilities 2021: $1,192,109Net Assets 2021: $1,472,1242021Assets 2022: $8,396,671Liabilities 2022: $3,384,617Net Assets 2022: $5,012,0542022Assets 2023: $10,825,675Liabilities 2023: $5,666,328Net Assets 2023: $5,159,3472023Assets 2024: $11,040,796Liabilities 2024: $5,848,742Net Assets 2024: $5,192,0542024

Highlighted filing

2022

Assets$8,396,671
Liabilities$3,384,617
Net Assets$5,012,054

Operations Trend

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

$15M$10M$5.0M$0Revenue 2011: $1,978,495Expenses 2011: $1,977,822Net Income 2011: $6732011Revenue 2012: $2,191,991Expenses 2012: $2,172,467Net Income 2012: $19,5242012Revenue 2013: $2,660,436Expenses 2013: $2,625,214Net Income 2013: $35,2222013Revenue 2014: $3,543,271Expenses 2014: $3,478,160Net Income 2014: $65,1112014Revenue 2015: $3,946,366Expenses 2015: $3,757,081Net Income 2015: $189,2852015Revenue 2016: $3,364,767Expenses 2016: $3,320,166Net Income 2016: $44,6012016Revenue 2017: $4,649,753Expenses 2017: $4,646,127Net Income 2017: $3,6262017Revenue 2018: $6,330,137Expenses 2018: $6,202,764Net Income 2018: $127,3732018Revenue 2019: $6,271,244Expenses 2019: $6,257,213Net Income 2019: $14,0312019Revenue 2020: $6,572,761Expenses 2020: $6,204,471Net Income 2020: $368,2902020Revenue 2021: $7,145,499Expenses 2021: $6,823,100Net Income 2021: $322,3992021Revenue 2022: $13,855,965Expenses 2022: $10,316,035Net Income 2022: $3,539,9302022Revenue 2023: $10,965,045Expenses 2023: $10,817,752Net Income 2023: $147,2932023Revenue 2024: $9,913,152Expenses 2024: $9,880,445Net Income 2024: $32,7072024

Highlighted filing

2022

Revenue$13,855,965
Expenses$10,316,035
Net Income$3,539,930
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 9, 2023
Return Version
2021v4.1
Gross Receipts
$13,887,841
Mission and Program Overview

Mission

The Organization works in public housing communities primarily in Western Queens, NY to provide residents with tools and resources needed for personal and community improvement and revitalization, primarily focusing on achieving economic mobility, self sufficiency. Results are achieved through a combination of integrated programs in individual and community development.

The mission is to provide tenants of public housing neighborhoods the tools and resources needed to achieve economic mobility and self sufficiency, and to break cycles of poverty. Integrated programs include employment services, financial counseling, youth development/college access, Credit Union support and others.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,554,707$3,962,017▲ $1,407,310
Investments in Publicly Traded Securities-$3,000,644-
Cash and Non-Interest-Bearing Accounts$21,677$123,814▲ $102,137
Prepaid Expenses and Deferred Charges$16,470$23,398▲ $6,928
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,664,233$8,396,671▲ $5,732,438
Other Assets Total$71,379$1,286,798▲ $1,215,419
Liabilities
Accounts Payable and Accrued Expenses$644,505$1,388,027▲ $743,522
Other Liabilities-$1,215,419-
Mortgage Notes Payable Secured by Investment Property$547,604$781,171▲ $233,567
Total Liabilities$1,192,109$3,384,617▲ $2,192,508
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$3,000,000-
Net Assets Without Donor Restrictions$1,472,124$2,012,054▲ $539,930
Total Net Assets Fund Balance$1,472,124$5,012,054▲ $3,539,930
Total Liabilities and Net Assets / Fund Balance$2,664,233$8,396,671▲ $5,732,438

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$72,446-
Other Assets Org$71,379--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mitchell TaylorCEOFT$186,463$186,463
Carlos CanoCOOFT$97,115$97,115

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$13,458,638
Program Service Revenue
$0
Investment Income
$4,410
Other Revenue
$392,917
All Other Contributions
$3,631,821
Change in Net Assets
$3,539,930

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,855,965
Total Revenue per Audited Statements
$13,855,965
Total Revenue per Form 990
$13,855,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,244,631
Other Expenses$4,071,404
Total Fundraising Expense$625,605
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,946,347$166,327$203,495$5,316,169
Payroll Taxes$504,813$16,946$20,712$542,471
Occupancy$363,212$9,358$11,437$384,007
All Other Expenses$239,138$59,779$73,064$371,981
Fees for Services Other$180,499$24,340$29,749$234,588
Other Employee Benefits$152,770$21,041$25,717$199,528
Current Officers, Directors, Trustees, and Key Employees$173,411$5,966$7,086$186,463
Office Expenses$144,144$13,126$16,044$173,314
Other Expenses$88,653$22,526$27,531$138,710
Fees for Services Accounting$13,094$20,101$24,568$57,763
Insurance$7,429$18,614$22,750$48,793
Interest-$14,334$17,519$31,853
Conferences and Meetings$7,556$4,148$5,070$16,774
Travel$114$4,608$5,632$10,354
Total Functional Expenses$9,178,573$511,857$625,605$10,316,035

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,316,035
Total Expenses per Audited Statements$10,316,035
Total Expenses per Form 990$10,316,035
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$424,793
Fundraising Direct Expenses$31,876
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$424,793$424,793$1,396$423,397
Total Events$424,793$424,793$31,876$392,917
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$1,215,419
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Line 11B: Form 990 Review Process

Form 990 provided to and revised by Board, Fiscal Designees before filing

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

Policy is reviewed frequently and re-affirmed at Board meeting

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Board reviews and approves annual compensation of Chief Executive Officer based on market salary guidelines and other relevant information.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Board reviews on an annual basis compensation based on market conditions compensation of key employees

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

All governing documents maintained at program/administrative office

Filing and Contact Details

Filer

Filer Name
East River Development Alliance Inc
EIN
86-1096987
Address
12-11 40 TH AVENUE, LONG ISLAND CITY, NY 11101

Signing Officer

Name
Mitchell Taylor
Title
Executive Director
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mitchell Taylor
Formed
2003
Legal Domicile
Ny
Voting Board Members
13
Independent Board Members
13
Employees
206
Volunteers
75

Preparer

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

Additional Explanations

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

Other program services 4: mission

Education Access and Development

Other programs primarily focus on education access and development. Emphasis is on youth potential development, college access, SAT preparation, credit union support, community enterprise initiatives cooperatives support and other community revitalization programs with local business and community leaders.

Financial Consulting

Financial counseling programs provide financial education and individualized financial counseling services for working families for increasing financial health, and to foster and maintain good financial habits.

Form 990 Part III Schedule R Line1

, During the prior fiscal year end and continuing during the current Fiscal Year ended June 30, 2021 the Organization has a community enterprise initiative to assist in establishing dynamic social enterprises dedicated to providing high quality jobs and services. The entities operate as separate entities outside of the Organization. The entities are administratively supported on an agency basis by the Organization until fully operational. One entity created to provide private security services is fully operational. One entity to provide pet and related services has been formed and is not yet fully operational.

Part III Line

As part the Organization community enterprise initiative to assist in establishing dynamic social enterprises dedicated to providing high quality jobs and services. OnPoint Security NYC LLC (a calendar year reporting entity) was established to provide private security services to the local business and residential community. The entity operates separate from the Organization. The Organization contractually secures services from the entity. During the Fiscal Year Ended June 30 2021, the Organization paid $103,630 for security services.

Workplace Development Programs

Workforce development programs provide job training and placement with focusing on increased job security and making strikes in long term career paths. A special focus on the unemployed and the underemployed is emphasized.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14SENIOR DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt16Treasurer
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IRS990/FormationYr02003
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IRS990/InsuranceGrp/FundraisingAmt022750
IRS990/InsuranceGrp/ManagementAndGeneralAmt018614
IRS990/InsuranceGrp/ProgramServicesAmt07429
IRS990/InsuranceGrp/TotalAmt048793
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IRS990/InterestGrp/ManagementAndGeneralAmt014334
IRS990/InterestGrp/TotalAmt031853
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0false
IRS990/MissionDesc0The Organization works in public housing communities primarily in Western Queens, NY to provide residents with tools and resources needed for personal and community improvement and revitalization, primarily focusing on achieving economic mobility, self sufficiency. Results are achieved through a combination of integrated programs in individual and community development.
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IRS990/Organization501c3Ind0X
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt023398
IRS990/PrincipalOfficerNm0MITCHELL TAYLOR
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt03482110
IRS990/ProgSrvcAccomActy3Grp/Desc0FINANCIAL CONSULTINGsee schedule 0
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01375000
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IRS990/PYOtherRevenueAmt0229598
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt06526947
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt06605767
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt06230490
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt06071581

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.0$5.85$5.19$9.91$9.88$0.03
2023Detailed filing. Detailed filing data is available for this year.$10.8$5.67$5.16$11.0$10.8$0.15
2022Detailed filing. Detailed filing data is available for this year.$8.40$3.38$5.01$13.9$10.3$3.54
2021Detailed filing. Detailed filing data is available for this year.$2.66$1.19$1.47$7.15$6.82$0.32
2020Detailed filing. Detailed filing data is available for this year.$2.15$1.00$1.15$6.57$6.20$0.37
2019Summary only. Only limited summary data is available for this year.$1.50$0.71$0.78$6.27$6.26$0.01
2018Summary only. Only limited summary data is available for this year.$2.09$1.32$0.77$6.33$6.20$0.13
2017Summary only. Only limited summary data is available for this year.$1.70$1.06$0.64$4.65$4.65$0.00
2016Summary only. Only limited summary data is available for this year.$0.95$0.32$0.64$3.36$3.32$0.04
2015Summary only. Only limited summary data is available for this year.$1.19$0.60$0.59$3.95$3.76$0.19
2014Summary only. Only limited summary data is available for this year.$1.10$0.69$0.40$3.54$3.48$0.07
2013Summary only. Only limited summary data is available for this year.$0.74$0.40$0.34$2.66$2.63$0.04
2012Summary only. Only limited summary data is available for this year.$0.67$0.36$0.30$2.19$2.17$0.02
2011Summary only. Only limited summary data is available for this year.$0.36$0.08$0.28$1.98$1.98$0.00