Totals
- Total revenue
- $4,190,438
- Total expenses
- $5,225,539
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,824,737
- Investment income
- $55
- Other revenue
- $365,646
- Total assets, end of year
- $13,927,872
- Total liabilities, end of year
- $28,688,374
- Net assets or fund balances, end of year
- -$14,760,502
- Program services expenses (Part IX)
- $4,386,388
- Management and general expenses
- $839,151
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,386,388
Program services were 83.9% 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 $3,824,737 · related or exempt $3,824,737
-
3 · Investment income
total $55 · excluded $55
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Administrative Fees
total $304,339 · related or exempt $304,339
-
11b · Other revenue: Other Income
total $61,307 · related or exempt $61,307
-
11e · Other revenue, total
$365,646
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 $325,447 · program services $276,630 · management and general $48,817
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,497,194 · program services $797,637 · management and general $699,557
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $376,407 · program services $357,587 · management and general $18,820
-
10 · Payroll taxes
total $91,691 · program services $85,024 · management and general $6,667
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $2,716 · program services $2,716
-
11c · Fees: accounting
total $12,600 · program services $12,600
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $149,296 · program services $149,296
-
12 · Advertising and promotion
total $1,622 · program services $1,622
-
13 · Office expenses
total $45,925 · program services $45,925
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $975,159 · program services $909,869 · management and general $65,290
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $565,145 · program services $565,145
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $686,427 · program services $686,427
-
23 · Insurance
total $370,409 · program services $370,409
-
24a · Other expenses: Other operating expenses
total $125,501 · program services $125,501
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $94,122 · end of year $44,339
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $1,316,183 · end of year $1,520,901
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $2,583,620 · end of year $2,320,365
-
10a · Land, buildings and equipment: cost or other basis
$31,125,282
-
10b · Land, buildings and equipment: accumulated depreciation
$21,387,773
-
10c · Land, buildings and equipment, net
beginning of year $10,262,983 · end of year $9,737,509
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $375,842 · end of year $304,758
-
17 · Accounts payable and accrued expenses
beginning of year $1,489,622 · end of year $2,266,315
-
19 · Deferred revenue
beginning of year $147,020 · end of year $94,925
-
23 · Secured mortgages and notes payable
beginning of year $23,799,980 · end of year $23,799,980
-
25 · Other liabilities
beginning of year $2,670,190 · end of year $2,527,154
-
27 · Net assets without donor restrictions
beginning of year -$13,474,062 · end of year -$14,760,502
Mission and programs · 2023
Mission
To develop and operate commercial/rental facilities in Bedford Stuyvesant to combat urban decay, create jobs and business opportunities, and stimulate commercial revitalization.
-
To develop and operate commercial/rental facilities in bedford Stuyvesant to combat urban decay, create jobs and business opportunities and stimulate commercial revitalization.
Expenses $4,386,388 · Revenue $3,824,737
As filed on the 2023 return.
Listed in Part VII
-
Blondel Pinnock
President
- Total calculated
- $318,373
- From this org
- $0
- From related orgs
- $289,360
- Other
- $29,013
- Hours/week
- 1 + 37.5 related
Schedule J breakdown matched by us
- Base
- not reported + $289,360 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $29,013 related
- Filer's total
- not reported + $318,373 related
-
Dyrnest Sinckler
Exec VP/COO
- Total calculated
- $202,338
- From this org
- $173,441
- From related orgs
- $0
- Other
- $28,897
- Hours/week
- 37 + 1 related
Schedule J breakdown matched by us
- Base
- $173,441
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- $28,897
- Filer's total
- $202,338
-
Chioma Ruth Onwumere
Treasurer
- Total calculated
- $133,570
- From this org
- $0
- From related orgs
- $122,147
- Other
- $11,423
- Hours/week
- 1 + 35 related
-
Clarence Stewart
Vice President
- Total calculated
- $105,763
- From this org
- $92,298
- From related orgs
- $0
- Other
- $13,465
- Hours/week
- 35 + 1.5 related
-
Doris Hoyte
Secretary
- Total calculated
- $83,981
- From this org
- $0
- From related orgs
- $70,866
- Other
- $13,115
- Hours/week
- 1 + 35 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 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 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
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.
-
Bedford Stuyvesant Restoration Corporati
501(c)(3) · Community Development · NY
-
501(c)(3) · COMMUNITY IMPRVMT.CAPACITY BUILDING/ECO DEV · NY
-
BSRC Neighborhood Home HDFC
APPLIED FO · Development of Affordable Housing · NY
-
BSR HOUSING DEVELOPMENT FUND COMPANY IN
501(c)(3) · Creation & Maint. of Affordable Housing · NY
-
Restore Housing Development Fund Corp
501(c)(3) · Creation/Maintenance of Affordable Housing · NY
-
Greene Avenue Housing Development Fund C
501(c)(3) · LOW INCOME HOUSING · NY
-
1921-25 Fulton Street Housing Developmen
501(c)(3) · Creation & Maintenance of Affordable Housing · NY
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 corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
RDC of Bedford Stuyvesant Inc
C CORP · Developer · NY
-
CDR Management Corporation
C Corp · Managing Agent · NY
-
The Platinum Factory Inc
C Corp · Recording Studio · NY
-
Restoration Supermarket Corp
C Corp · Supermarket · NY
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531359349313653
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