Overview
What is Bridge Street Development Corporation?
Bridge Street Development Corporation is a nonprofit organization situated in Brooklyn, New York, specifically at 460 Nostrand Avenue. Their primary focus is on community engagement and youth workforce development, aiming to create vibrant and equitable neighborhoods in Central Brooklyn. They achieve this by offering support services, educational workshops, and internship programs to low-income tenants, as well as youth and young adult certificate training programs. Additionally, they organize civic engagement and leadership development programs for motivated youth. The organization also facilitates block and tenant associations on a monthly basis. Beyond housing development, Bridge Street Development Corporation encourages business formation and recruitment in Bedford-Stuyvesant, and works on enhancing administrative capabilities for affiliated corporations. With a workforce of 46 individuals, it is dedicated to uplifting the community.
Official website here: www.bsdcorp.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
Bridge Street Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial management. Its overall score of 96% is derived solely from its excellent performance in the Accountability & Finance category. This high rating reflects the organization's transparency and effective governance practices.
The nonprofit boasts an entirely independent board of directors with 13 members, showcasing a robust governance structure that contributes to its credibility. The organization has also implemented comprehensive policies, including conflict of interest and whistleblower protections, ensuring ethical operations. Additionally, its program expense ratio of 84.07% indicates that a significant portion of its funds is directed toward its mission-driven activities.
Despite the strong financial health and governance standards, it is essential for potential donors and stakeholders to consider the organization's operational impact as well. While the financial metrics are exemplary, understanding the effectiveness of its programs and the outcomes achieved would provide a more rounded view of the organization’s overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Bridge Street Development Corporation legitimate?
Bridge Street Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bridge Street Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $1,478,074
For more financial information, click here
Official website here: www.bsdcorp.org
What is the mission statement of Bridge Street Development Corporation?
Bridge Street Development Corporation aims to fulfill a threefold mission. Firstly, it focuses on improving housing conditions for low and moderate-income families in certain communities. Secondly, it encourages the establishment of businesses within these communities and attracts both prospective and existing businesses to the area. Lastly, the corporation works on enhancing its management and administrative capabilities to provide centralized services effectively to the various affiliated corporations. This organizational structure is designed to promote overall development and prosperity in the targeted communities.
Official website here: www.bsdcorp.org
Who is the CEO of Bridge Street Development Corporation?
Gregory Anderson is the Chairman of Bridge Street Development Corporation.
Official website here: www.bsdcorp.org
What is the revenue of Bridge Street Development Corporation?
Bridge Street Development Corporation's revenue in 2022 was $2,763,736.
Official website here: www.bsdcorp.org
Who are the executives of Bridge Street Development Corporation and what are their salaries?
The average compensation at Bridge Street Development Corporation during 2022 was $32,132. There are 46 employees at Bridge Street Development Corporation.
Here are 13 key members and their salaries:
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Official website here: www.bsdcorp.org
Where can I find the form 990 for Bridge Street Development Corporation?
Bridge Street Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bsdcorp.org
Learn more at the official website: www.bsdcorp.org
Mission Statement of Bridge Street Development Corporation
Bridge Street Development Corporation is dedicated to a threefold mission. At its core, the organization aims to enhance and improve housing for low and moderate income families in various communities. Beyond this, Bridge Street Development Corporation encourages the formation of businesses within these communities, actively recruiting both prospective and established businesses to reinforce the local economy. Lastly, the corporation works on developing and strengthening management and administrative capacity, allowing it to provide a range of services centrally to several affiliated corporations under the Bridge Street African Wesleyan Methodist Episcopal Church. Through these initiatives, Bridge Street Development Corporation seeks to contribute positively to the well-being and growth of the communities it serves.
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Impact
July, 2024
Bridge Street Development Corporation's impact can be seen in the revitalization of low and moderate-income housing in the Bedford-Stuyvesant area, as well as in the promotion of business development and management capacity building within the community. Through its community engagement and youth workforce programs, BSDC works towards creating vibrant and equitable neighborhoods in central Brooklyn. By providing support services to tenants, offering internship and training programs for youth, and convening block and tenant associations, BSDC actively engages residents and empowers them to take charge of their own development. This multi-faceted approach contributes to the overall improvement of the community and the lives of its residents.
This information is meant to be a general summary of Bridge Street Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $712
- Program Service Revenue: $314,470
- Gross Receipts: $2,763,736
Assets and Liabilities:
- Total Assets: $2,210,051
- Total Liabilities: $364,100
- Net Assets: $1,845,951
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER & MANAGEMENT FEES
Revenue
$184,541
DEVELOPMENT ASSISTANCE
Revenue
$129,929
Organization Details
Founding Year
1995
Phone
(718) 399-0146Principal Officer
Gregory Anderson
Main Address
460 NOSTRAND AVENUE, BROOKLYN, NY, 11216
Website
www.bsdcorp.orgNTEE Category
Code: S20 - Community improvement
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