Form 990 for tax year 2022

Totals

Total revenue

$1,512

Total expenses

$664,577

Contributions and grants received

$0

Grants paid

$12,375

Program service revenue

$0

Investment income

$1,512

Other revenue

$0

Total assets, end of year

$2,987,811

Total liabilities, end of year

$8,000

Net assets or fund balances, end of year

$2,979,811

Program services expenses (Part IX)

$653,238

Management and general expenses

$11,339

Fundraising expenses

$0

Program service expenses (Part III)

$653,238

Program services were 98.3% 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.

Mission and programs · 2022

• Black Entrepreneurs NYC (BE NYC)- A groundbreaking model for a major American city to help creare equity of opportunity by advancing black entrepreneurship

  Expenses $353,663

• WE Credit Loan Loss Fund - Support loans to qualifying small businesses to expand their business and promote economic growth in the City of New York

  Expenses $287,000

• Downtown Jamaica Storefrom Improvement Program - The Downtown Jamaica Storefront Improvement Program is a program designed to revitalize building facades, improve commercial corridors and promote the character and stability of Downtown Jamaica, allow longstanding businesses to stay competitive and keep pace with neighborhood change, and to create a stronger, safer neighborhood that attracts local residents and shoppers, all in accordance with the Downtown Jamaica Storefront Improvement Grant Program. NYBAC will apply the funding to pay for up to 75% of the total project costs for improvements to building facades. Black Entrepreneurs NYC (BE NYC) a groundbreaking model for a major American city to help create equity of opportunity by advancing Black entrepreneurship. A $1,000 grant provided to local businesses who suffered physical damage or economic losses during a designated business emergency such as fire, flood or other natural disasters. Neighborhood Challenge (Bid Challenge)- The Neighborhood Challenge supports innovative proJects that solve small business challenges, generate community and economic impacts, and receive local recognition upon implementation. These grants are designed to encourage innovation and service delivery improvements to not-for- profit entities with economic development budgets under $2 million and help them develop programs that strengthen their neighborhood. Small Business Financing ProgramSmall Business Financing is an initiative to connect New York City business owners to the financing products that best meet their business needs during and after the Covid-19 pandemic. New York Main Street Grant Program & Corporate Alliance Program (CAP)Other miscellaneous programs - All other small programs such as CAP program & NY Main Street grant to provide assistance to entrepreneurs and small businesses with the skills, tools and resources to address challenges and accelerate the growth of their business

  Expenses $12,575

As filed on the 2022 return.

Listed in Part VII

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.

Grants on this return

• Workforce Development Corporation

  $311,413

  Professional Services

• Lihua Bazak

  $12,375

  Storefront Improvement program

Provenance

Return type

form_990

Tax year

2022

Filed

5 September 2023

IRS schema version

2022v5.0

Source object

202342519349301819

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