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Nonprofiteer
← FLATBUSH DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by FLATBUSH DEVELOPMENT CORPORATION.

Totals

Total revenue
$5,005,854
Total expenses
$4,927,530
Contributions and grants received
$4,973,265
Grants paid
$0
Program service revenue
$0
Investment income
$12,889
Other revenue
$19,700
Total assets, end of year
$2,888,407
Total liabilities, end of year
$1,450,884
Net assets or fund balances, end of year
$1,437,523
Program services expenses (Part IX)
$4,296,027
Management and general expenses
$604,045
Fundraising expenses
$27,458
Program service expenses (Part III)
$4,296,027

Program services were 87.2% 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

    $8,853

  • 1e · Government grants (contributions)

    $4,148,448

  • 1f · All other contributions, gifts and grants

    $815,964

  • 3 · Investment income

    total $12,889 · excluded $12,889

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

    $8,853

  • 11a · Other revenue: OTHER INCOME

    total $19,700 · related or exempt $19,700

  • 11e · Other revenue, total

    $19,700

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 $124,994 · program services $84,371 · management and general $28,124 · fundraising $12,499

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,642,514 · program services $2,566,584 · management and general $70,638 · fundraising $5,292

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $194,053 · program services $185,880 · management and general $6,925 · fundraising $1,248

  • 10 · Payroll taxes

    total $262,330 · program services $251,282 · management and general $9,362 · fundraising $1,686

  • 11a · Fees: management

    total $265,575 · management and general $265,575

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $34,082 · management and general $34,082

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $234,670 · program services $130,420 · management and general $98,914 · fundraising $5,336

  • 12 · Advertising and promotion

    total $31,019 · program services $31,019

  • 13 · Office expenses

    total $335,121 · program services $313,236 · management and general $21,628 · fundraising $257

  • 14 · Information technology

    total $99,915 · program services $98,232 · management and general $1,426 · fundraising $257

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $73,252 · program services $67,975 · management and general $4,908 · fundraising $369

  • 17 · Travel

    total $16,866 · program services $16,866

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $26,316 · management and general $26,316

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $42,067 · program services $40,296 · management and general $1,501 · fundraising $270

  • 23 · Insurance

    total $33,466 · program services $32,057 · management and general $1,194 · fundraising $215

  • 24a · Other expenses: STAFF DEVELOPMENT AND TRAINING

    total $5,478 · program services $5,478

  • 24b · Other expenses: OTHER PROGRAM EXPENSES

    total $473,714 · program services $465,589 · management and general $8,125

  • 24c · Other expenses: FEES, DUES AND SUBSCRIPTIONS

    total $16,592 · program services $2,450 · management and general $14,142

  • 24d · Other expenses: AMORTIZATION INTEREST EXP - ROU LEASE

    total $5,000 · program services $4,292 · management and general $679 · fundraising $29

  • 24e · All other expenses

    total $10,506 · management and general $10,506

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $85,140 · end of year $254,599

  • 3 · Pledges and grants receivable

    beginning of year $100,000 · end of year $240,000

  • 4 · Accounts receivable

    beginning of year $275 · end of year $2,001

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,016 · end of year $60,537

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

    $308,935

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

    $244,919

  • 10c · Land, buildings and equipment, net

    beginning of year $78,380 · end of year $64,016

  • 15 · Other assets

    beginning of year $2,073,190 · end of year $2,267,254

  • 17 · Accounts payable and accrued expenses

    beginning of year $408,855 · end of year $701,796

  • 24 · Unsecured notes and loans payable

    beginning of year $148,219 · end of year $275,000

  • 25 · Other liabilities

    beginning of year $461,728 · end of year $474,088

  • 27 · Net assets without donor restrictions

    beginning of year $1,057,938 · end of year $973,829

  • 28 · Net assets with donor restrictions

    beginning of year $301,261 · end of year $463,694

Mission and programs · 2023

Mission

FDC IS DEDICATED TO MEETING THE NEEDS OF A DIVERSE VIBRANT BROOKLYN. FDC IDENTIFIES RESPONDS TO THESE NEEDS BY BUILDING PARTNERSHIPS, CREATING PROGRAMS DEVELOPING CAMPAIGNS FOR ECONOMIC DEVELOPMENT, HOUSING, YOUTH, IMMIGRATION OTHER INITIATIVES THAT PROMOTE ENHANCED QUALITY OF LIFE, SAFETY, EQUITY PRESERVATION OF THEIR COMMUNITY.

Activities or mission (Part I)

BUILDING PARTNERSHIPS, CREATING PROG. DEVELOPING CAMPAIGNS FOR ECON. DEVELOP., HOUSING, YOUTH, IMMIGRATION OTHER INITIATIVES THAT PROMOTE ENHANCED QUALITY OF LIFE, SAFETY, EQUITY PRESERVATION OF THEIR COMMUNITY

  • YOUTH DEVELOPMENT ACTIVITIES INCLUDE AFTER SCHOOL AND EVENING EDUCATIONAL AND RECREATIONAL PROGRAMS DESIGNED TO DEVELOP YOUTH INTO PRODUCTIVE MEMBERS OF SOCIETY.

    Expenses $2,685,600

  • HOUSING PRESERVATION ACTIVITIES INCLUDE PROVIDING ASSISTANCE TO INDIVIDUAL TENANTS, HOME OWNERS AND LANDLORDS ABOUT THEIR RIGHTS AND RESPONSIBILITIES, ABOUT HOW TO MAINTAIN AND PRESERVE THEIR HOMES, AND AFFORDABLE HOUSING PROGRAMS.

    Expenses $1,193,440

  • ECONOMIC DEVELOPMENT ACTIVITIES INCLUDE ASSISTANCE TO SMALL BUSINESS AND ATTRACTING NEW BUSINESSES TO THE LOCAL COMMERCIAL STRIP.

    Expenses $303,717

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

Listed in Part VII

  • ROBIN REDMOND

    EXECUTIVE DIRECTOR

    Total calculated
    $158,217
    From this org
    $125,000
    From related orgs
    $0
    Other
    $33,217
    Hours/week
    40

  • GUADALUPE RAMSEY

    ECONOMIC DEVELOPMENT SPECIALIST

    Total calculated
    $102,559
    From this org
    $102,231
    From related orgs
    $0
    Other
    $328
    Hours/week
    40

  • SALVATORE LENTINI

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2.5

  • TOM ROUSAKIS - RESIGNED 32224

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1.5

  • JAVIER SAEZ

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • EDUARDO CROSA

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • ERIC ZIMILES

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • SANDRA HARRIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • LOIS JACKSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • EMILY SHAW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOEL STICKNEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOPHRANE LIGONDE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531349349303593

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