Nonprofit · EIN 13-2736022
SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · BRONX, NY 10455
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2023 | 990 | $5,349,808 | $2,818,738 | $2,531,070 | $7,073,569 | $5,993,984 | $1,079,585 |
| March 31, 2023 | 990 | $8,860,427 | $10,667,730 | -$1,807,303 | $10,232,191 | $6,420,456 | $3,811,735 |
Financial details: 990 for the year ended June 30, 2023
Revenue
- Contributions, gifts and grants
- $5,265,455
- of which government grants
- $5,220,455
- Program service revenue
- $84,353
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $150,193
- Other salaries and wages
- $269,047
- Salaries, compensation and benefits (total)
- $827,586
- Professional fundraising fees
- $0
- Legal fees
- $102,395
- Accounting fees
- $71,050
- Occupancy
- $383,902
- Travel
- $33,237
- Depreciation
- $788
- Program services (functional)
- $2,098,721
- Management and general (functional)
- $642,339
- Fundraising (functional)
- $77,678
Balance sheet and other
- Total assets, start of year
- $10,232,191
- Total assets, end of year
- $7,073,569
- Total liabilities, end of year
- $5,993,984
- Net assets, end of year
- $1,079,585
- Land, buildings and equipment
- $1,524,008
- Net assets without donor restrictions
- $1,079,585
- Gross receipts
- $5,349,808
- Employees
- 0
- Volunteers
- 15
- Year formed
- 1972
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2023, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK L CASTLE | BOARD CHAIR Trustee or director, Officer | 1 | $0 |
| ARLINE PARKS | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| KAREN MCGUINNESS | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| ANTHONY M RICCIO JR | SECRETARY Trustee or director, Officer | 1 | $0 |
| MARK WILLIS | TREASURER Trustee or director, Officer | 1 | $0 |
| TIFFANI HINDS | BOARD MEMBER Trustee or director | 1 | $0 |
| MAYRA LINARES-GARCIA | BOARD MEMBER Trustee or director | 1 | $0 |
| HUGH GRANT | BOARD MEMBER Trustee or director | 1 | $0 |
| PLINIO AYALA | BOARD MEMBER Trustee or director | 1 | $0 |
| LAUREN GEORGE | BOARD MEMBER Trustee or director | 1 | $0 |
| WILLIAM BILL BOLLINGER | BOARD MEMBER Trustee or director | 1 | $0 |
| CONOR MCCARTHY | BOARD MEMBER Trustee or director | 1 | $0 |
| JENNIFER RIVERA | BOARD MEMBER Trustee or director | 1 | $0 |
| PATRICIA NIA ROCK | BOARD MEMBER Trustee or director | 1 | $0 |
| PRISCA SALAZAR-RODRIGUEZ | BOARD MEMBER Trustee or director | 1 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LOURDES ZAPATA | PRESIDENT & CEO Officer | 32 | $0 |
| ROBBIN FINNEY-GRANSTON | SVP PROGRAMS Officer | 32 | $0 |
| DELILAH TYSON | CAO Officer | 32 | $0 |
990 for the year ended March 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LOURDES ZAPATA | PRESIDENT & CEO Officer | 32 | $245,053 | $38,748 |
| DELILAH TYSON | CAO Officer | 32 | $135,519 | $8,767 |
| ROBBIN FINNEY-GRANSTON | SVP PROGRAMS Officer | 32 | $102,985 | $10,642 |
| MARK L CASTLE | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ARLINE PARKS | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KAREN MCGUINNESS | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ANTHONY M RICCIO JR | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MARK WILLIS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| TIFFANI HINDS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MAYRA LINARES-GARCIA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| HUGH GRANT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PLINIO AYALA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LAUREN GEORGE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WILLIAM BILL BOLLINGER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CONOR MCCARTHY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JENNIFER RIVERA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICIA NIA ROCK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PRISCA SALAZAR-RODRIGUEZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 555 BERGEN AVENUE 3RD FLOOR, BRONX, NY 10455-1368
- In care of
- % KAREN MCGUINNESS
- Principal officer (990 for 2023)
- JASON GARCIA, 555 BERGEN AVENUE 3RD FLOOR, BRONX, NY 10455
- Signed the 990
- JASON GARCIA, EXECUTIVE DIRECTOR
- Phone
- (718) 292-3113
- Website
- WWW.SOBRO.ORG
- Return prepared by
- SAX ADVISORS LLC
Mission
OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL, AND CAREER DEVELOPMENT PROGRAMS FOR YOUTH AND ADULTS. SOBRO WAS FOUNDED IN 1972 BY A GROUP OF BUSINESS EXECUTIVES AND COMMUNITY LEADERS. OUR TASK WAS URGENT: REVERSE THE FLIGHT OF BUSINESSES AND JOBS FROM THE SOUTH BRONX. IT WAS THE FIRST AND MOST FUNDAMENTAL STEP TOWARD REBUILDING A COMMUNITY WHOSE NAME EVOKED IMAGES OF BURNED BUILDINGS, CRIME, POVERTY AND DRUGS. BUT AS SOBRO BEGAN TO EVOLVE, IT BECAME CLEARER THAT COMMUNITY REVITALIZATION REQUIRED A MULTI-FACETED EFFORT. TODAY, WE ADDRESS ALL ASPECTS OF COMMUNITY DEVELOPMENT: ASSISTING BUSINESSES TO GET STARTED AND GROW, TRAINING RESIDENTS ACCORDING TO THE NEEDS OF EMPLOYERS, OFFERING OPPORTUNITIES FOR YOUTH TO LEARN AND DEVELOP, AND CREATING AFFORDABLE HOUSING AND COMMERCIAL SPACES THAT REVERSE BLIGHT IN THE COMMUNITY.
Program accomplishments
- THE YOUTH DEVELOPMENT AND EDUCATION DEPARTMENT PROVIDED AFTER-SCHOOL SUMMER YOUTH EMPLOYMENT, AND OUT-OF-SCHOOL YOUTH SERVICES TO 2,100 YOUNG PEOPLE BETWEEN THE AGES OF 5 AND 24. IN-SCHOOL AND AFTER-SCHOOL PROGRAMS ASSISTED A TOTAL OF 1,040 ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS WITH HOMEWORK AND TUTORING, COLLEGE PREPARATION, ARTS AND CULTURAL ACTIVITIES, AND LEADERSHIP DEVELOPMENT. ADDITIONALLY, SUMMER INTERNSHIPS WERE PROVIDED TO OVER 700 YOUTH THROUGH OUR SYEP PROGRAM AND 179 FOR SYEP/WLH PROGRAM DURING THE WINTER. PARTICIPANTS WERE PROVIDED ACADEMIC SUPPORT, CAREER AWARENESS TRAINING, WORK SKILLS DEVELOPMENT, AND LEADERSHIP TRAINING. THE SOBRO TRANSFORMATION ACADEMY, WHICH IS A COMBINATION OF THE YOUTHBUILD PROGRAM AND YOUNG ADULT JUSTICE SCHOLARS PROGRAM, SERVES AT-RISK YOUNG ADULTS TO EARN THEIR HSE AND OBTAIN POST-SECONDARY EDUCATION/JOB PLACEMENT.Expenses $1,156,392
- SOBRO HAS MORE THAN TWO DECADES OF EXPERIENCE DEVELOPING AND MANAGING COMMERCIAL AND RESIDENTIAL PROPERTIES, EVIDENCED BY OUR PORTFOLIO OF OVER 450 UNITS OF AFFORDABLE AND MARKET RATE HOUSING AND OVER 120,000 SQUARE FEET OF COMMERCIAL, INDUSTRIAL, AND OFFICE SPACE IN THE BRONX AND UPPER MANHATTAN. SOBRO'S HOUSING DEVELOPMENT EFFORTS INCLUDE REHABILITATING EXISTING BUILDINGS AND CREATING NEW BUILDINGS IN VACANT SPACE TO TRANSFORM BLIGHTING INFLUENCES INTO BEAUTIFUL AND VIABLE SPACES FOR LIVING AND WORKING. ONE OF SOBRO'S GOALS AND PART OF OUR COMPREHENSIVE STRATEGY FOR COMMUNITY DEVELOMENT IS TO INCREASE THE AVAILABILITY OF RENTAL HOUSING FOR LOW AND MODERATE-INCOME FAMILIES. TO THIS END, WE BUILD NEW HOUSING, REHABILITATE VACANT PROPERTIES, AND PREVENT DETERIORATING HOUSING STOCK FROM BECOMING ABANDONED.Expenses $358,604 · revenue $84,353
- IN FY2023, SOBRO PROVIDED CAREER DEVELOPMENT SERVICES TO HUNDRED OF INDIVIDUALS, PLACING THEM INTO EMPLOYMENT AND DELIVERING JOB-READINESS TRAINING, WHICH INCLUDED A CUSTOMER SERVICE TRAINING COMPONENT AND NATIONALLY RECOGNIZED CERTIFICATION IN CUSTOMER SERVICE. SOBRO'S OUTCOMES FOR ADULT EDUCATION CLASSES HAVE CONSISTENTLY SURPASSED PROGRAM EVALUATION TARGETS.Expenses $58,206
- ALL OTHER PROGRAMSExpenses $525,519
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | Not on file |
| 2023 | June 30, 2024 | November 15, 2024 | Not on file |
IRS record
- EIN
- 13-2736022
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1973
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $7,073,569
- Income (IRS master file)
- $5,349,808
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2023 | $5,349,808 | $2,818,738 | $7,073,569 | XML |
| 990 | March 2023 | $8,860,427 | $10,667,730 | $10,232,191 | XML |
| 990 | March 2022 | $12,019,062 | $12,192,704 | $9,441,146 | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990 | March 2020 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
| 990 | March 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-2736022).
Questions about SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION is 13-2736022.
- Is SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1973.
- Are donations to SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2023.
- Who is the principal officer of SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2023 names JASON GARCIA.
- Who are the officers and directors of SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2023 lists 18 people; 0 received compensation from the organization.
- How much revenue does SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2023 it reported revenue of $5,349,808, expenses of $2,818,738 and total assets of $7,073,569 at year end.
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