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Nonprofiteer
← BRONX VENTURE CORP

Form 990 for tax year 2024

Filed by BRONX VENTURE CORP.

Totals

Total revenue
$191,268
Total expenses
$293,629
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$191,268
Investment income
$0
Other revenue
$0
Total assets, end of year
$73,349
Total liabilities, end of year
$438,505
Net assets or fund balances, end of year
-$365,156
Program services expenses (Part IX)
$289,818
Management and general expenses
$3,811
Fundraising expenses
$0
Program service expenses (Part III)
$289,818

Program services were 98.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Rental Income

    total $191,268 · related or exempt $191,268

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $3,811 · management and general $3,811

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $251 · program services $251

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $5,172 · program services $5,172

  • 23 · Insurance

    total $63,742 · program services $63,742

  • 24a · Other expenses: Maintenance and Repairs

    total $77,986 · program services $77,986

  • 24b · Other expenses: Real Estate Taxes

    total $113,371 · program services $113,371

  • 24c · Other expenses: Utilities

    total $12,954 · program services $12,954

  • 24d · Other expenses: Maintenance Contract

    total $16,342 · program services $16,342

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,301 · end of year $31,507

  • 10a · Land, buildings and equipment: cost or other basis

    $51,716

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,516

  • 10c · Land, buildings and equipment, net

    beginning of year $41,372 · end of year $36,200

  • 15 · Other assets

    beginning of year $2,341 · end of year $5,642

  • 17 · Accounts payable and accrued expenses

    beginning of year $300,476 · end of year $418,047

  • 19 · Deferred revenue

    beginning of year $8,333 · end of year $20,458

  • 27 · Net assets without donor restrictions

    beginning of year -$262,795 · end of year -$365,156

Mission and programs · 2024

Mission

The agency achieved an economic development program to provide jobs in the South Bronx, NY

  • Expenses relate to maintaining the building.

    Expenses $289,818

As filed on the 2024 return.

Listed in Part VII

  • Raul Russi

    President

    Total calculated
    $998,427
    From this org
    $0
    From related orgs
    $896,597
    Other
    $101,830
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    not reported + $684,183 related
    Bonus
    not reported + $203,414 related
    Other
    not reported + $9,000 related
    Deferred
    not reported + $50,625 related
    Nontaxable benefits
    not reported + $51,205 related
    Filer's total
    not reported + $998,427 related

  • Lymaris Albros

    Chief Executive Officer

    Total calculated
    $892,752
    From this org
    $0
    From related orgs
    $836,684
    Other
    $56,068
    Hours/week
    2 + 33 related

    Schedule J breakdown matched by us

    Base
    not reported + $633,440 related
    Bonus
    not reported + $191,244 related
    Other
    not reported + $12,000 related
    Deferred
    not reported + $39,177 related
    Nontaxable benefits
    not reported + $16,891 related
    Filer's total
    not reported + $892,752 related

  • Jose A Rodriguez

    Chief Legal Office/Exec VP

    Total calculated
    $592,593
    From this org
    $0
    From related orgs
    $562,331
    Other
    $30,262
    Hours/week
    2 + 33 related

    Schedule J breakdown matched by us

    Base
    not reported + $501,136 related
    Bonus
    not reported + $49,195 related
    Other
    not reported + $12,000 related
    Deferred
    not reported + $16,500 related
    Nontaxable benefits
    not reported + $13,762 related
    Filer's total
    not reported + $592,593 related

  • Vicky Gatell

    Chief Financial Officer

    Total calculated
    $488,994
    From this org
    $0
    From related orgs
    $442,213
    Other
    $46,781
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    not reported + $391,779 related
    Bonus
    not reported + $38,434 related
    Other
    not reported + $12,000 related
    Deferred
    not reported + $16,500 related
    Nontaxable benefits
    not reported + $30,281 related
    Filer's total
    not reported + $488,994 related

  • Eliezer Rodriguez Esq

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Natalia Guzman

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Gilbert Hernandez

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Marybeth Hotaling Esq

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Angel Audiffred

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I Line 7
The Compensation of the Executives is approved by the Affiliate organization who hires a consultant to conduct a study. A standing compensation committee of the related organization reviews a compensation study and votes on how to proceed.
Part I Line 7
The bonuses for the CEO and President are approved by the Board of the Affiliate Organization. The remaining executive bonuses are approved by the CEO of the affiliated organization.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 1675 JV ASSOCIATES LLC

    HOUSING · NY

    Directly controlled by PROMESA HDFC

  • 245 E MOSHOLU APTS LLC

    HOUSING · NY

    Directly controlled by 245 E MOSHOLU

  • 980 PROSPECT LLC

    REAL ESTATE · NY

    Directly controlled by PROMESA ENTERPRISE

  • ACACIA GARDENS AFFORDABLE LLC

    HOUSING · NY

    Directly controlled by ACACIA GARDENS

  • ACACIA GARDENS DEVELOPMENT LLC

    DEVELOPMENT · NY

    Directly controlled by ACACIA GARDENS

  • AUDUBON PHARMACY LLC

    RETAIL PHARMA · NY

    Directly controlled by PROMESA ENTERPRISE

  • BELLA VISTA LP

    HOUSING · NY

    Directly controlled by BELLA VISTA

  • CASA ACACIA LLC

    REAL ESTATE · NY

    Directly controlled by PROMESA ENTERPRISE

  • CROTONA PARK RESIDENCES LLC

    HOUSING · NY

    Directly controlled by CROTONA PARK

  • DISTINCTIVE MAINTENANCE PARTNERS

    MAINTENANCE · NY

    Directly controlled by PROMESA ENTERPRISE

  • HOPE GARDENS I PA LLC

    HOUSING · NY

    Directly controlled by ACACIA BROOKLYN

  • LA CASA QUINTA LP

    HOUSING · NY

    Directly controlled by EL BARRIO OPERA

  • LA PLAZA DEL BARRIO LLC

    HOUSING · NY

    Directly controlled by ACACIA REAL ESTATE

  • MARIA ISABEL LP

    HOUSING · NY

    Directly controlled by MARIA ISABEL

  • MARIA ISABEL MEMBERS LLC

    HOUSING · NY

    Directly controlled by ACACIA MARIA IS

  • MELROSE ESTATES HOUSING LP

    HOUSING · NY

    Directly controlled by MELROSE COURT

  • PALACIO DORADO LLC

    HOUSING · NY

    Directly controlled by PALACIO DORADO

  • PROMESA APARTMENTS LIMITED PAR

    HOUSING · NY

    Directly controlled by PROMESA HDFC

  • PROMESA COURT LIMITED PARTNERS

    HOUSING · NY

    Directly controlled by PROMESA COURT

  • PROMESA COURT RESIDENCES LIMIT

    HOUSING · NY

    Directly controlled by PROMESA COURT

  • SAN JOSE LP

    HOUSING · NY

    Directly controlled by EL BARRIO OPERA

  • SERA SECURITY SERVICES LLC

    SECURITY · NY

    Directly controlled by PROMESA ENTERPRISE

  • SV-B PARTNERS LLC

    HOUSING · NY

    Directly controlled by LA PLAZA DE BAR

  • URBAN RENAISSANCE COLLABORATION

    HOUSING · NY

    Directly controlled by URC

  • VIRGINIA HOUSE RESIDENCES LLC

    HOUSING · NY

    Directly controlled by VIRGINIA HOUSE

  • WEST TREMONT RESIDENCES LLC

    HOUSING · NY

    Directly controlled by WEST TREMONT

  • SERA SECURITY SERVICES LLC

    SECURITY · NY

    Directly controlled by PROMESA ENTERPRISE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 152 E 116TH HDFC

    C CORP · HOUSING · NY

    Directly controlled by EL BARRIO OPERA

  • 1675 WESTCHESTER AVENUE INC

    C CORP · HOUSING · NY

    Directly controlled by PROMESA HDFC

  • 245 E MOSHOLU INC

    C CORP · GP HOUSING · NY

    Directly controlled by 245 E MOSHOLU

  • 3196 3RD AVE CORP

    C CORP · REAL ESTATE · NY

    Directly controlled by DON PANCHO

  • 454 W 146TH STREET HDFC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • 471 W 145TH STREET HDFC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • 517 W 173RD STREET HDFC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • ACACIA BROOKLYN CORP

    C CORP · HOUSING · NY

    Directly controlled by ACACIA REAL ESTATE

  • ACACIA GARDENS GP INC

    C CORP · HOUSING · NY

    Directly controlled by ACACIA GARDENS

  • ACACIA MARIA ISABEL INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HDFC

  • ACD AFFORDABLE CORPORATION

    C CORP · HOUSING · NY

    Directly controlled by ACACIA GARDENS

  • BELLA VISTA HOUSING COMPANY INC

    C CORP · GP HOUSING · NY

    Directly controlled by SBCMC

  • BRONX INVESTORS HOLDING COMPANY INC

    C CORP · INVESTING HOU · NY

    Directly controlled by SBCMC

  • CROTONA PARK MANAGERS INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HDFC

  • DON PANCHO DEVELOPMENT CORPORATION

    C CORP · MAINTENANCE · NY

    Directly controlled by BRONX INVESTORS

  • EL BATEY HOUSING COMPANY INC

    C CORP · GP HOUSING · NY

    Directly controlled by SBCMC

  • FIVE FIFTEEN WEST INC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • LA CASA QUINTA DEV CORP

    C CORP · HOUSING · NY

    Directly controlled by EL BARRIO OPERA

  • MELROSE COURT HOUSING COMPANY INC

    C CORP · GP HOUSING · NY

    Directly controlled by SBCMC

  • ONE SEVENTY FOUR INC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • PALACIO DORADO DEVELOPMENT INC

    C CORP · HOUSING · NY

    Directly controlled by ACACIA PUERTO RICO

  • PROMESA COLLATERAL TRUST

    Trust · INSURANCE · NY

    Directly controlled by ACACIA NETWORK

  • PROMESA COMMUNITY APARTMENTS

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HDFC

  • PROMESA COURT ESTATES INC

    C CORP · GP HOUSING · NY

    Directly controlled by ACACIA

  • PROMESA ENTERPRISES LTD

    C CORP · INVESTMENT MG · NY

    Directly controlled by ACACIA

  • URBAN RENAISSANCE COLLABORATION INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HDFC

  • VIRGINIA HOUSE MANAGERS INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HDFC

  • BECK STREET DEVELOPMENT HOUSING DEVELOPMENT

    C CORP · HOUSING · NY

    Directly controlled by PROMESA HDFC

  • FOX STREET DEVELOPMENT HOUSING DEVELOPMENT

    C CORP · HOUSING · NY

    Directly controlled by PROMESA HDFC

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.2
Source object
202601359349310210

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