You are now searching

   

New York BBB Wise Giving Report for
Bedford Stuyvesant Restoration Corporation

A BBB Accredited charity

 



Expiration Date:
08/2016
Name:
Bedford-Stuyvesant Restoration Corporation
Address:
1368 Fulton Street
Brooklyn, NY 11216
Phone:
718-636-6930
Year, State Incorporated:
1967, New York
Affiliates:
None
Stated Purpose:
" The nation's first community development corporation, Bedford Stuyvesant Restoration Corporation's mission is to improve the quality of life for Central Brooklyn families by fostering economic self sufficiency and family stability, promoting arts and culture and transforming the neighborhood into a safe, vibrant place to live, work, and visit. Restoration was established in 1967 with the bipartisan support of Senators Robert Kennedy and Jacob Javits at a time of major inner city disinvestment. Since that time, Restoration has remained an anchor in the community providing comprehensive programming spanning housing, jobs, social supports, the environment, education, and the arts. "





Evaluation Conclusions
 

              
Bedford-Stuyvesant Restoration Corporation meets the 20 Standards for Charity Accountability.




Programs
 

              
Bedford Stuyvesant Restoration Corporation (BSRC) operates in the Bedford Stuyvesant community in Central Brooklyn which faces poverty, unemployment and crime rates that far exceed city averages. BSRC works with the nearly 67% of children that are born into poverty and 33% of families which receive some public assistance by providing the full spectrum of community development programs. This encompasses the creation of quality affordable housing, workforce development and placement, family and youth services, small business assistance, financial literacy, commercial revitalization and promotion of the arts and culture. BSRC also preserves and renews the rich cultural legacy of the community through the Billy Holiday Theatre, a premiere arts training institution, the Youth Arts Academy and the Skylight Gallery.



Governance
 

              
Chief Executive Officer:
Mr. Colvin W. Grannum, President and CEO
Compensation*:
$274,279
Chair of the Board:
Mr. Kevin Chavers
Chair's Profession / Business Affiliation:
Managing Director
Board Size:
19
Paid Staff Size:
133



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, invitations to fund raising events, grant proposals.
Fund raising costs were 8.2% of related contributions. (Related contributions, which totaled $4,339,861, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on Bedford-Stuyvesant Restoration Corporation's Audited Financial Statements for the fiscal year ended June 30, 2013.

Source of Funds  

Rental Income

$4,357,283

Government grants and contract

2,986,050

Construction Income

2,218,148

Gain on investments in affiliates

1,927,547

Private grants and contributions

1,353,811

Fees and other income

650,188

Other income

299,258

Program Income

124,189

Interest income

66,285

Dividend income

23

Total Income

$13,982,782

Program Expenses  

Affordable housing and commercial revitalization

$8,365,299

Economic Development

2,016,676

Energy conservation and waetherization

1,989,847

Arts and Education

495,002
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

12,866,824
354,302
1,368,636

$14,589,762

$(606,980)




Uses of Funds as a % of Total Expenses


Programs: 88%  Fund Raising: 2%  Administrative 9% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $13,067,248
Ending net assets 12,460,268
Total liabilities 27,947,372

Total assets

$40,407,640






 

A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.