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New York BBB Wise Giving Report for
Bedford Stuyvesant Restoration Corporation

A BBB Accredited charity

 



Expiration Date:
08/2014
Name:
Bedford-Stuyvesant Restoration Corporation
Address:
1368 Fulton Street
Brooklyn, NY 11216
Phone:
718-636-6900
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:
Colvin W. Grannum, President and CEO
Compensation*:
$224,481
Chair of the Board:
Wayne C. Winborne
Chair's Profession / Business Affiliation:
Winborne Group
Board Size:
21
Paid Staff Size:
96



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




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, grant proposals
Fund raising costs were 2.3% of related contributions. (Related contributions, which totaled $8,828,859, 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 Corparation's Audited Financial Statements for the fiscal year ended June 30, 2011.

Source of Funds  

Government grants and contracts

$6,841,111

Fees and other income

2,521,826

Gains on investment in affiliates

2,102,397

Rental income

1,490,931

Private Grants and contributions

1,393,930

Fundraising Income

593,818

Interest income

59,507

Program Income

46,992

Other income

30,041

Dividend income

1,553

Total Income

$15,082,106

Program Expenses  

Energy comservation

$4,993,727

Commercial revitalization and asset management

2,600,483

Economic development

2,366,649

Arts and education

614,419
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

10,575,278
205,259
1,351,833

$12,132,370

$2,949,736




Uses of Funds as a % of Total Expenses


Programs: 87%  Fund Raising: 2%  Administrative 11% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $10,576,209
Ending net assets 13,525,945
Total liabilities 8,849,758

Total assets

$22,375,703






 

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.