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New York BBB Wise Giving Report for
Cypress Hills Local Development Corporation

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
11/2015
Name:
Cypress Hills Local Development Corporation
Address:
625 Jamaica Avenue
Brooklyn, NY 11208
Phone:
718-647-2800
Year, State Incorporated:
1983, New York
Affiliates:
None
Stated Purpose:
" With community residents leading the way, the mission of CHLDC is to build a strong, sustainable Cypress Hills/East New York, where youth and adults achieve educational and economic success, secure affordable housing and develop leadership skills to transform their lives and community. "






Evaluation Conclusions
 

              
Cypress Hills Local Development Corporation meets the 20 Standards for Charity Accountability.




Programs
 

              
Cypress Hills Local Development Corporation (CHLDC) is a 30-year-old community development corporation, serving the community of Cypress Hills, Brooklyn, a low-to-moderate income neighborhood with a large immigrant population. Local residents and merchants founded CHLDC in 1983 to improve their community. Today, we serve over 8,000 local residents each year through a wide array of programs. We developed 400 affordable housing units, helped to found two alternative public schools, and built Brooklyn's first "green" school and a child care center. We supported parent organizing efforts which convinced the city to build a new school building, and reduce school overcrowding. Our commercial revitalization efforts dramatically reduced storefront vacancies. CHLDC develops affordable housing, educates and counsels first-time homebuyers and organizes tenant associations. We help parent and teen groups to mobilize and improve local public schools. CHLDC offers recreational, educational, and vocational services for youth, adult education, family counseling, and college counseling. Our subsidiary, the Cypress Hills Child Care Corporation, runs a family day care network, an In-Home Head Start program, and a day care center. Together, our programs strengthen the area's physical and economic infrastructure, provide quality services, and foster local leaders.



Governance
 

              
Chief Executive Officer:
Ms. Michelle D. Neugebauer, Executive Director
Compensation*:
$124,676
Chair of the Board:
Mr. Harold Green
Board Size:
15
Paid Staff Size:
216



*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 2.4% of related contributions. (Related contributions, which totaled $7,682,287, 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 Cypress Hills Local Development Corporation's Audited Financial Statements for the fiscal year ended June 30, 2012.

Source of Funds  

Government grants

$4,662,479

Contributions

3,019,808

Management and development fees

187,673

Sublease rental revenue

103,909

Miscellaneous income

11,506

Interest income

970

Net assets released from restrictions


Total Income

$7,986,345

Program Expenses  

Youth and human services

$4,748,974

Housing development and counseling

1,517,390

Economic development and community organizing

636,960
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

6,903,324
186,435
855,678

$7,945,437

$40,908




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 $2,291,889
Ending net assets 2,332,797
Total liabilities 717,091

Total assets

$3,049,888






 

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