You are now searching

   

New York BBB Wise Giving Report for
Local Development Corporation of East New York

A BBB Accredited charity

 



Expiration Date:
07/2016
Name:
Local Development Corporation of East New York
Address:
80 Jamaica Avenue
3rd Floor
Brooklyn, NY 11207
Phone:
718-385-6700
Web Site:
Year, State Incorporated:
1979, New York
Affiliates:
None
Stated Purpose:
" The mission of the LDCENY is to sustain and promote industry and commerce in East Brooklyn, improve economic opportunities for businesses and residents, create jobs, improve the quality of life, and promote a healthier community. "





Evaluation Conclusions
 

              
Local Development Corporation of East New York (LDCENY) meets the 20 Standards for Charity Accountability.




Programs
 

              
The Local Development Corporation of East New York is a not-for-profit organization dedicated to making East Brooklyn a better place to live and work. We pursue this objective by promoting a physical environment and other conditions that are supportive to businesses, large and small. LDC initiatives include working with city agencies to promote safety and sanitation, preserving and developing the local industrial base and attracting new businesses to the area. The LDC provides support to businesses located in the community’s industrial areas, commercial strips and retail malls. We also provide assistance to individuals who are starting or expanding businesses. These range from sole proprietorships with a few employees to larger companies employing hundreds of people. Specific programs to achieve this mission include Industrial Initiatives, Women's Business Center, Business Development, Environmental Programs, Housing Initiatives, Financial Education, Money Management, and Asset & Credit Building. All programs are offered in English and in Spanish.



Governance
 

              
Chief Executive Officer:
Ms. Sherry D. Roberts , Executive Director
Compensation*:
$116,022
Chair of the Board:
Ms. Priscilla Frey-Incorvaia
Board Size:
8
Paid Staff Size:
7



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




Fund Raising
 

              
Method(s) Used:


Invitations to fund raising events
Fund raising costs were 11.6% of related contributions. (Related contributions, which totaled $521,060, 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 LDCENY's Audited Financial Statements for the fiscal year ended June 30, 2013.

Source of Funds  

Grants

$409,473

Other

69,179

Contributions

57,500

Special Events

54,087

Program Revenue

2,293

Total Income

$592,532

Program Expenses  

Entrepreneur Development

$442,373

Sandy Project

23,240
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

465,613
60,641
56,124

$582,378

$10,154




Uses of Funds as a % of Total Expenses


Programs: 80%  Fund Raising: 10%  Administrative 10% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $35,041
Ending net assets 45,195
Total liabilities 442,696

Total assets

$487,891






 

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.