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Nonprofiteer
← BROOKLYN COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by BROOKLYN COMMUNITY FOUNDATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 28 July 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total assets, end of year
$133,980,553 changed to $141,980,553
Net assets or fund balances, end of year
$131,793,447 changed to $139,793,447

Totals

Total revenue
$39,339,803
Total expenses
$24,415,765
Contributions and grants received
$32,435,516
Grants paid
$19,342,878
Program service revenue
$0
Investment income
$6,181,176
Other revenue
$723,111
Total assets, end of year
$133,980,553
Total liabilities, end of year
$2,187,106
Net assets or fund balances, end of year
$131,793,447
Program services expenses (Part IX)
$20,408,871
Management and general expenses
$3,326,966
Fundraising expenses
$679,928
Program service expenses (Part III)
$20,408,871

Program services were 83.6% 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.

  • 1c · Fundraising events

    $1,216,214

  • 1f · All other contributions, gifts and grants

    $31,219,302

  • 1g · Noncash contributions included above

    $226,066

  • 3 · Investment income

    total $2,526,475 · excluded $2,526,475

  • 7a · Gross sales of assets other than inventory

    securities $54,109,745

  • 7b · Less cost or other basis and sales expenses

    securities $50,455,044

  • 7c · Gain or loss

    securities $3,654,701

  • 7d · Net gain or loss

    total $3,654,701 · excluded $3,654,701

  • 8a · Fundraising events: gross income

    $215,492

  • 8a · Fundraising events: contributions included on line 1c

    $1,216,214

  • 8b · Fundraising events: direct expenses

    $532,325

  • 8c · Net income from fundraising events

    total -$316,833 · excluded -$316,833

  • 11a · Other revenue: ADMINISTRATIVE FEES

    total $1,039,944 · excluded $1,039,944

  • 11e · Other revenue, total

    $1,039,944

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,342,878 · program services $19,342,878

  • 5 · Compensation of officers, directors and key employees

    total $329,857 · program services $115,946 · management and general $173,769 · fundraising $40,142

  • 7 · Other salaries and wages

    total $1,658,661 · program services $596,586 · management and general $855,953 · fundraising $206,122

  • 8 · Pension plan contributions

    total $98,281 · program services $24,685 · management and general $64,738 · fundraising $8,858

  • 9 · Other employee benefits

    total $193,587 · program services $48,623 · management and general $127,517 · fundraising $17,447

  • 10 · Payroll taxes

    total $175,222 · program services $44,010 · management and general $115,420 · fundraising $15,792

  • 11b · Fees: legal

    total $122,199 · program services $22,108 · management and general $75,327 · fundraising $24,764

  • 11c · Fees: accounting

    total $50,076 · program services $9,060 · management and general $30,868 · fundraising $10,148

  • 11f · Fees: investment management

    total $135,235 · management and general $135,235

  • 11g · Fees: other

    total $971,673 · program services $175,793 · management and general $598,969 · fundraising $196,911

  • 12 · Advertising and promotion

    total $622,333 · program services $2,500 · management and general $600,068 · fundraising $19,765

  • 13 · Office expenses

    total $319,681 · program services $6,351 · management and general $249,420 · fundraising $63,910

  • 14 · Information technology

    total $92,195 · program services $10,000 · management and general $57,000 · fundraising $25,195

  • 16 · Occupancy

    total $148,720 · management and general $148,720

  • 17 · Travel

    total $13,264 · program services $834 · management and general $6,993 · fundraising $5,437

  • 19 · Conferences, conventions and meetings

    total $94,877 · program services $9,497 · management and general $39,943 · fundraising $45,437

  • 22 · Depreciation, depletion and amortization

    total $17,092 · management and general $17,092

  • 23 · Insurance

    total $29,934 · management and general $29,934

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,111,806 · end of year $3,023,056

  • 2 · Savings and temporary cash investments

    beginning of year $18,093,684 · end of year $18,177,781

  • 3 · Pledges and grants receivable

    beginning of year $305,351 · end of year $119,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,243 · end of year $92,556

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

    $845,139

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

    $624,746

  • 10c · Land, buildings and equipment, net

    beginning of year $26,455 · end of year $220,393

  • 11 · Investments: publicly traded securities

    beginning of year $59,933,220 · end of year $69,870,298

  • 12 · Investments: other securities

    beginning of year $42,583,790 · end of year $42,000,065

  • 15 · Other assets

    beginning of year $66,917 · end of year $476,904

  • 17 · Accounts payable and accrued expenses

    beginning of year $413,102 · end of year $465,342

  • 18 · Grants payable

    beginning of year $2,090,000 · end of year $1,275,450

  • 25 · Other liabilities

    beginning of year $0 · end of year $446,314

  • 27 · Net assets without donor restrictions

    beginning of year $119,642,614 · end of year $130,741,319

  • 28 · Net assets with donor restrictions

    beginning of year $2,013,750 · end of year $1,052,128

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

SPARK LASTING SOCIAL JUSTICE CHANGE, MOBILIZING PEOPLE, CAPITAL, & EXPERTISE FOR A FAIR BROOKLYN.

  • DONOR ADVISED FUNDS: THIS PROGRAM PROVIDES CUSTOMIZED SUPPORT, GUIDANCE AND SERVICES TO DONORS WHO OPEN A DONOR ADVISED FUND WITH THE FOUNDATION. IN FY24, THE FOUNDATION ISSUED OVER $14 MILLION IN DONOR DIRECTED GRANTS - OVER 60% OF WHICH WENT TO BROOKLYN NONPROFITS.

    Expenses $14,498,632 · Grants $14,057,581

  • INVEST IN YOUTH GRANT PORTFOLIO:IN FY24, THE FOUNDATION INVESTED $1,890,000 THROUGH A UNIQUE SET OF PROGRAMS TO 43 YOUTH-SERVING NONPROFITS FROM OUR INVEST IN YOUTH GRANT PROGRAM FOCUSED ON BUILDING YOUTH LEADERSHIP AND SUPPORTING IMMIGRANT AND JUSTICE-INVOLVED YOUTH.

    Expenses $2,173,500 · Grants $1,890,000

  • WELLNESS AND RECOVERY FUND:BROOKLYN ORG ESTABLISHED THE WELLNESS AND RECOVERY FUND FROM CHARITABLE ASSETS THAT REMAINED AFTER THE OFFICE OF THE ATTORNEY GENERAL (OAG) DISSOLVED CANARSIE A.W.A.R.E., INC. FOR ITS PARTICIPATION IN A SCHEME THAT EXPLOITED SOME OF NEW YORK'S MOST VULNERABLE RESIDENTS AND DEFRAUDED MEDICAID. THE $2.2 MILLION FUND SUPPORTS ORGANIZATIONS WORKING TO ENSURE THAT THOSE WHO NAVIGATE THE DIFFICULT ROAD OF SUBSTANCE ABUSE AND ADDICTION DO SO WITH RELIABLE SUPPORT THAT HONORS THEIR AGENCY AND DIGNITY. IN FY24, THE FOUNDATION DISTRIBUTED X TO 10 LOCAL ORGANIZATIONS.

    Expenses $856,750 · Grants $745,000

  • BROOKLYN ELDERS FUND:IN FY24, THE FOUNDATION INVESTED $630,000 TO 14 ORGANIZATIONS SUPPORTING OLDER ADULTS IN BROOKLYN THROUGH OUR ENDOWED FUND. THESE ORGANIZATIONS PROVIDE CRITICAL SERVICES TO OLDER ADULTS, ALLOWING THEM TO AGE IN PLACE VIA AFFORDABLE HOUSING, CULTURALLY RELEVANT SERVICES, AND PROVIDING OPPORTUNITIES FOR SOCIALIZATION.

    Expenses $2,879,989 · Grants $2,650,297

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nicole Gueron

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Harsha Marti

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Michael Gillespie

    BOARD CHAIR (2024)/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Katherine Darrow

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Hilary Jager

    VICE CHAIR (2024)

    Total calculated
    $0
    Hours/week
    1

  • Michelle Defossett

    GOVERNANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mamie Kanfer Stewart

    GOVERNANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Vivian Liao Korich

    ADVANCEMENT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Constance Sargent

    PROGRAM CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Bettridge

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tanya Friedman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Peter Furchi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lesleigh Irish-Underwood

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Zul Jamal

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lawanna Kimbro

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lorena Kourousias

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Noa Meyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andi Phillips

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carley Roney

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Shelley Stewart

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susannah Taylor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rachel Timoner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carmencita Whonder

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sarah Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Shaheen Rushd

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Vishal Sheth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Timothy Simons

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jocelynne Rainey

    CEO & PRESIDENT

    Total calculated
    $308,046
    From this org
    $284,712
    From related orgs
    $0
    Other
    $23,334
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $284,712
    Bonus
    $0
    Other
    $0
    Deferred
    $21,353
    Nontaxable benefits
    $1,981
    Filer's total
    $308,046

  • Liane Stegmaier

    CHIEF OF STAFF, VP OF COMMUNICATIONS

    Total calculated
    $204,450
    From this org
    $163,981
    From related orgs
    $0
    Other
    $40,469
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $163,981
    Bonus
    $0
    Other
    $0
    Deferred
    $12,299
    Nontaxable benefits
    $28,170
    Filer's total
    $204,450

  • Sabrina Hargrave

    PROGRAM OFFICER/DIRECTOR OF PROGRAMS

    Total calculated
    $166,065
    From this org
    $128,404
    From related orgs
    $0
    Other
    $37,661
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $128,404
    Bonus
    $0
    Other
    $0
    Deferred
    $9,630
    Nontaxable benefits
    $28,031
    Filer's total
    $166,065

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 · 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

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202531349349305248

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