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Nonprofiteer
← CAMBA ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by CAMBA ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$215,773
Total expenses
$199,848
Contributions and grants received
$202,779
Grants paid
$0
Program service revenue
$6,353
Investment income
$0
Other revenue
$6,641
Total assets, end of year
$266,584
Total liabilities, end of year
$225,818
Net assets or fund balances, end of year
$40,766
Program services expenses (Part IX)
$133,372
Management and general expenses
$66,476
Fundraising expenses
$0
Program service expenses (Part III)
$133,372

Program services were 66.7% 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.

  • 1e · Government grants (contributions)

    $202,779

  • 2a · Program service revenue: PRGRM RELATED INTEREST

    total $6,353 · related or exempt $6,353

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $6,641 · excluded $6,641

  • 11e · Other revenue, total

    $6,641

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $34,950 · management and general $34,950

  • 13 · Office expenses

    total $492 · management and general $492

  • 14 · Information technology

    total $9,396 · management and general $9,396

  • 20 · Interest

    total $1,003 · management and general $1,003

  • 23 · Insurance

    total $5,982 · management and general $5,982

  • 24a · Other expenses: ALLOCATED SALARIES

    total $120,946 · program services $120,946

  • 24b · Other expenses: ADMINISTRATIVE FEES

    total $13,925 · management and general $13,925

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $12,426 · program services $12,426

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $728 · management and general $728

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $41,860 · end of year $57,292

  • 3 · Pledges and grants receivable

    beginning of year $134,128 · end of year $136,732

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

    $6,048

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

    $6,048

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $55,002 · end of year $72,560

  • 15 · Other assets

    beginning of year $5,837 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,064 · end of year $18,864

  • 19 · Deferred revenue

    beginning of year $88,922 · end of year $0

  • 24 · Unsecured notes and loans payable

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

  • 25 · Other liabilities

    beginning of year $0 · end of year $106,954

  • 27 · Net assets without donor restrictions

    beginning of year $24,841 · end of year $40,766

Mission and programs · 2024

Mission

CAMBA EDC IS AN ORGANIZATION WHICH PROVIDES LOANS AND SERVICES TO UNDER-SERVED BUSINESSES AND POTENTIAL ENTREPRENEURS IN THE BROOKLYN, NY COMMUNITY.

Activities or mission (Part I)

CAMBA ECONOMIC DEVELOPMENT CORPORATION (CAMBA EDC) IS AN ORGANIZATION WHICH PROVIDES LOANS AND SERVICES TO UNDER-SERVED BUSINESSES AND POTENTIAL ENTREPRENEURS IN THE BROOKLYN, NY COMMUNITY.

  • SMALL BUSINESS SERVICES IMPACT: IN 2025, CAMBA PROVIDED SMALL BUSINESS SERVICES TO 694 INDIVIDUALS. 73.2% OF BUSINESSES INCREASED THEIR SALES FOLLOWING SERVICES FROM OUR TECHNICAL BUSINESS ASSISTANCE AND MOBILIZE YOUR BUSINESS TECHNOLOGY TRAINING PROGRAMS. CAMBA ALSO MANAGED 10 ACTIVE SMALL BUSINESS LOANS, BRINGING OUR LOAN PORTFOLIO BALANCE TO $100,202.79 IN FUNDING TO NYC BUSINESS OWNERS. ALL OF THESE LOANS WERE DISBURSED TO MINORITY- OR WOMEN-OWNED BUSINESS ENTERPRISES. OUR WORKSHOPS AND ONE-ONE-ONE TECHNICAL ASSISTANCE HELPED TO CREATE 11 NEW BUSINESSES AND ASSISTED 13 BUSINESS OWNERS IN HIRING OR RETAINING EMPLOYEES.

    Expenses $133,372 · Revenue $6,353

As filed on the 2024 return.

Listed in Part VII

  • CHRISTOPHER ZARRA

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • KATHERINE O'NEILL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • HENRY BRIANCE

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • VALERIE BARTON-RICHARDSON

    PRESIDENT/CEO

    Total calculated
    $543,064
    From this org
    $0
    From related orgs
    $484,480
    Other
    $58,584
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $457,316 related
    Bonus
    $0
    Other
    $0 + $27,164 related
    Deferred
    $0 + $22,265 related
    Nontaxable benefits
    $0 + $36,319 related
    Filer's total
    $0 + $543,064 related

  • JASON BOUCHARD

    CFO

    Total calculated
    $385,336
    From this org
    $0
    From related orgs
    $315,301
    Other
    $70,035
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,423 related
    Bonus
    $0
    Other
    $0 + $17,878 related
    Deferred
    $0 + $4,625 related
    Nontaxable benefits
    $0 + $65,410 related
    Filer's total
    $0 + $385,336 related

  • JOANNE OPLUSTIL

    FORMER PRESIDENT/CEO

    Total calculated
    $2,182,060
    From this org
    $0
    From related orgs
    $2,163,152
    Other
    $18,908
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $197,008 related
    Bonus
    $0
    Other
    $0 + $1,966,144 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $18,908 related
    Filer's total
    $0 + $2,182,060 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4B
JOANNE OPLUSTIL PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED PLAN. CAMBA, INC. DISTRIBUTED $1,462,881 TO HER IN 2024, WHICH WAS INCLUDED IN HER W-2 AS TAXABLE WAGES.

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.

  • CAMBA INC

    501(C)(3) · MULTI-SERVICE AGENCY WORKING TO IMPROVE ECONOMIC CONDITIONS IN NYC · NY

  • CAMBA HOUSING VENTURES INC

    501(C)(3) · DEVELOP SUSTAINABLE HOUSING WHILE ENHANCING NEIGHBORHOODS · NY

    Directly controlled by CAMBA INC

  • CAMBA LEGAL SERVICES INC

    501(C)(3) · PROVIDE LEGAL COUNCIL AND REPRESENTATION TO LOW-INCOME & WORKING POOR · NY

    Directly controlled by CAMBA INC

  • CHV 690-738 ALBANY AVENUE HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • CHV 560 WINTHROP STREET HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • CHV 603 MOTHER GASTON BLVD HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • CHV BUCKINGHAM HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA INC

  • CHV 210-214 HEGEMAN AVENUE HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • CHV BEDFORD PARK HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • CHV 1038 BROADWAY HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • CHV 329 CLARKSON AVENUE HDFC

    501(C)(4) · HOUSING DEVELOPMENT PROVIDING AFFORDABLE HOUSING · NY

    Directly controlled by CAMBA HOUSING VENTURES INC

  • SONGEA HOLDING CORPORATION

    501(C)(2) · HOLD TITLE TO REAL PROPERTY · NY

    Directly controlled by CAMBA INC

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349309611

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