Overview
What is Boc Development Corporation?
Boc Development Corporation is a nonprofit organization based in Brooklyn, New York, specifically at 85 South Oxford Street. Their primary mission is to promote employment, business development, and various economic and social opportunities. They achieve this through collaborative efforts with developers, preserving commercial space for small businesses in low-income areas. Additionally, they partner with the Business Outreach Center Network, Inc., providing services and administrative support to small businesses operating in the Bronx Business Incubator, a 11,000 square foot shared-use space located in the South Bronx. Revenue sources for Boc Development Corporation include program fees, user fees, and grant support for the incubator. The incubator specifically focuses on industries and sectors with growth potential, offering entrepreneurs and small businesses shared office space and necessary support services.
Official website here: www.bxl.nyc/
Is Boc Development Corporation legitimate?
Boc Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boc 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
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.bxl.nyc/
What is the mission statement of Boc Development Corporation?
Boc Development Corporation's mission is centered around promoting economic and social opportunities, particularly for small businesses. They achieve this by collaborating with developers to preserve commercial spaces in low-income areas. Additionally, the corporation contracts with the Business Outreach Center Network, Inc. for providing services to small businesses and offering administrative support. The corporation's revenue sources include program fees associated with commercial/industrial business development, user fees, and grant support for the Bronx Business Incubator.
Official website here: www.bxl.nyc/
Who is the CEO of Boc Development Corporation?
Nancy Carin is the President of Boc Development Corporation.
Official website here: www.bxl.nyc/
What is the revenue of Boc Development Corporation?
Boc Development Corporation's revenue in 2022 was $270,169.
Official website here: www.bxl.nyc/
Who are the executives of Boc Development Corporation and what are their salaries?
There 15 volunteers at Boc Development Corporation.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $230,750
- Other: $31,429
- Compensation: $0
- Related: $154,755
- Other: $34,972
- Compensation: $0
- Related: $168,475
- Other: $19,614
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.bxl.nyc/
Where can I find the form 990 for Boc Development Corporation?
Boc Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bxl.nyc/
Learn more at the official website: www.bxl.nyc/
Mission Statement of Boc Development Corporation
Boc Development Corporation, a nonprofit organization, is dedicated to fostering employment opportunities, business development, and promoting various economic and social advancements. To achieve these goals, Boc Development Corporation collaborates with developers, playing a crucial role in preserving commercial spaces specifically intended for small businesses in low-income areas. Additionally, this organization partners with the Business Outreach Center Network, Inc., providing essential services to small businesses and offering administrative support. Revenues for Boc Development Corporation are primarily generated through program fees associated with commercial and industrial business development, as well as user fees and grant support for the Bronx Business Incubator. In essence, Boc Development Corporation serves as a catalyst for economic growth in low-income communities, supporting small businesses and aiding in their development.
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Impact
October, 2024
Boc Development Corporation significantly impacts the local economy by promoting employment and fostering business development, particularly in low-income areas. Through initiatives like the Bronx Business Incubator, launched in 2014, it provides entrepreneurs and small businesses with essential resources, including shared office space and support services. This incubator, located in the Bank Note Building in the South Bronx, focuses on nurturing sectors with high growth potential, thereby enhancing economic opportunities for local residents.
By collaborating with developers, Boc Development Corporation plays a crucial role in preserving commercial spaces for small businesses that are vital to the community's fabric. The organization also partners with the Business Outreach Center Network to deliver administrative support and specialized resources to emerging businesses, further empowering them to thrive. The collective efforts of Boc Development contribute not only to individual business success but also to the overall economic revitalization of the neighborhoods it serves.
This information is meant to be a general summary of Boc 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: $2
- Program Service Revenue: $233,947
- Gross Receipts: $270,169
Assets and Liabilities:
- Total Assets: $115,223
- Total Liabilities: $213,522
- Net Assets: -$98,299
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Fees
Revenue
$233,947
Organization Details
Founding Year
2005
Phone
(718) 624-9115Principal Officer
Nancy Carin
Main Address
85 SOUTH OXFORD STREET, BROOKLYN, NY, 11217
Website
www.bxl.nyc/NTEE Category
Code: S31 - Community improvement
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