2022-04-08T15:46:12-05:00 2020-03-31 BKD LLP 1155 Avenue of the Americas 1200 New York NY 10036 990 2019-04-01 132736022 South Bronx Overall Economic Development Corporation % KAREN MCGUINNESS SOUT 7182923113 555 Bergen Avenue Bronx NY 10455 LOURDES ZAPATA PRESIDENT AND CEO 7187323113 2020-08-17 true Aaron Shapiro P01333816 2128674000 2019 2022-09-23 18:48:47Z LOURDES ZAPATA 555 BERGEN AVENUE BRONX NY 10455 15496064 false X WWW.SOBRO.ORG X 1972 NY TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL AND CAREER DEVELOPMENT PROGRAMS. 9 9 409 9 0 8190342 8496168 6197975 785308 0 4337415 117018 1515122 14505335 15134013 0 0 0 0 7918710 7242572 0 0 0 4811230 4024266 12729940 11266838 1775395 3867175 5681704 7389551 4482631 2312871 1199073 5076680 X OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL, AND CAREER DEVELOPMENT PROGRAMS FOR YOUTH AND ADULTS. SOBBO WAS FOUNDED IN 1972 BY A GROUP OF BUSINESS EXECUTIVES AND COMMUNITY LEADERS. OUR TASK WAS URGENT: REVERSE THE FLIGHT OF BUSINESSES AND JOBS FROM THE SOUTH BRONX. IT WAS THE FIRST AND MOST FUNDAMENTAL STEP TOWARD REBUILDING A COMMUNITY WHOSE NAME EVOKED IMAGES OF BURNED BUILDINGS, CRIME, POVERTY AND DRUGS. BUT AS SOBRO BEGAN TO EVOLVE, IT BECAME CLEARER THAT COMMUNITY REVITALIZATION REQUIRED A MULTI-FACETED EFFORT. TODAY, WE ADDRESS ALL ASPECTS OF COMMUNITY DEVELOPMENT: ASSISTING BUSINESSES TO GET STARTED AND GROW, TRAINING RESIDENTS ACCORDING TO THE NEEDS OF EMPLOYERS, OFFERING OPPORTUNITIES FOR YOUTH TO LEARN AND DEVELOP, AND CREATING AFFORDABLE HOUSING AND COMMERCIAL SPACES THAT REVERSE BLIGHT IN THE COMMUNITY. false false 2755715 HE YOUTH DEVELOPMENT AND EDUCATION DEPARTMENT PROVIDED AFTER-SCHOOL, SUMMER YOUTH EMPLOYMENT, AND OUT-OF-SCHOOL YOUTH SERVICES TO 2,100 YOUNG PEOPLE BETWEEN THE AGES OF 5 AND 24. IN-SCHOOL AND AFTER-SCHOOL PROGRAMS ASSISTED A TOTAL OF 1,040 ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS WITH HOMEWORK AND TUTORING, COLLEGE PREPARATION, ARTS AND CULTURAL ACTIVITIES, AND LEADERSHIP DEVELOPMENT. ADDITIONALLY, SUMMER INTERNSHIPS WERE PROVIDED TO OVER 700 YOUTH THROUGH OUR SYEP PROGRAM AND 179 FOR SYEP/WLH PROGRAM DURING THE WINTER. PARTICIPANTS WERE PROVIDED ACADEMIC SUPPORT, CAREER AWARENESS TRAINING, WORK SKILLS DEVELOPMENT, AND LEADERSHIP TRAINING. THE SOBRO TRANSFORMATION ACADEMY, WHICH IS A COMBINATION OF THE YOUTHBUILD PROGRAM AND YOUNG ADULT JUSTICE SCHOLARS PROGRAM, SERVES AT-RISK YOUNG ADULTS TO EARN THEIR HSE AND OBTAIN POST-SECONDARY EDUCATION/JOB PLACEMENT. 1375312 724648 SOBRO HAS MORE THAN TWO DECADES OF EXPERIENCE DEVELOPING AND MANAGING COMMERCIAL AND RESIDENTIAL PROPERTIES, EVIDENCED BY OUR PORTFOLIO OF OVER 450 UNITS OF AFFORDABLE AND MARKET RATE HOUSING AND OVER 120,000 SQUARE FEET OF COMMERCIAL, INDUSTRIAL, AND OFFICE SPACE IN THE BRONX AND UPPER MANHATTAN. SOBRO'S HOUSING DEVELOPMENT EFFORTS INCLUDE REHABILITATING EXISTING BUILDINGS AND CREATING NEW BUILDINGS IN VACANT SPACE TO TRANSFORM BLIGHTING INFLUENCES INTO BEAUTIFUL AND VIABLE SPACES FOR LIVING AND WORKING. ONE OF SOBRO'S GOALS AND PART OF OUR COMPREHENSIVE STRATEGY FOR COMMUNITY DEVELOMENT IS TO INCREASE THE AVAILABILITY OF RENTAL HOUSING FOR LOW AND MODERATE-INCOME FAMILIES. TO THIS END, WE BUILD NEW HOUSING, REHABILITATE VACANT PROPERTIES, AND PREVENT DETERIORATING HOUSING STOCK FROM BECOMING ABANDONED. 2959018 N FY2020, SOBRO HAS PROVIDED CAREER DEVELOPMENT SERVICES TO HUNDREDS OF INDIVIDUALS, PLACING THEM INTO EMPLOYMENT AND DELIVERING JOB-READINESS TRAINING, WHICH INCLUDED A CUSTOMER SERVICE TRAINING COMPONENT AND NATIONALLY RECOGNIZED CERTIFICATION IN CUSTOMER SERVICE, SOBRO'S OUTCOMES FOR ADULT EDUCATION CLASSES HAVE CONSISTENTLY SURPASSED PROGRAM EVALUATION TARGETS. 514683 60660 INDUSTRIAL DEVELOPMENT AND JOB CREATION COMMUNITY 514683 60660 7604728 true true false false false false false false false false true false false true true false false false false false false false false false true false false false false true false false false false false false false true false false false false false true true false false false true 37 0 409 true false false false false false false false false false false false false X 9 9 false true false false false false false true true false false false true true true true true true false false NY X KAREN MCGUINNESS 7182923113 555 BERGEN AVENUE BRONX NY 10455 STEVEN BROWN PRESIDENT & CEO (through 7/19) 26.5 8.5 X 138507 0 31676 PATRICK JAMES Senior Vice President 26.5 8.5 X 123290 0 28262 LOURDES ZAPATA President & CEO 26.5 8.5 X 101610 0 23328 DELILAH TYSON Chief Administrative Officer 26.5 8.5 X 51633 0 11869 Mark Castle Board Chair 1.0 2.3 X X 0 0 0 ARLINE PARKS VICE CHAIR 1.0 2.3 X X 0 0 0 Jean Smith Vice Chair 1.0 2.3 X X 0 0 0 Karen McGuinness Treasurer 1.0 2.3 X X 0 0 0 Anthony Riccio Secretary 1.0 2.3 X X 0 0 0 Jennifer Rivera BOARD MEMBER 1.0 0.0 X 0 0 0 Prisca Salazar-Rodriguez Board Member 1.0 0.0 X 0 0 0 Laurel Brown Board Member 1.0 0.0 X 0 0 0 William Bollinger Board Member 1.0 0.0 X 0 0 0 TONIA ELVIN Chief Financial Officer 26.5 8.5 X 0 0 0 LESIA BATES Interim CFO 26.5 8.5 X 0 0 0 415040 0 95135 3 false true false 149TH STREET REALTY ASSOCIATES LP 110 WEST 34TH STREET 9TH FLOOR NEW YORK NY 10001 RETAIL LEASING 561576 WINFIELD SECURITY 57 WEST 38TH STREET 5TH FLOOR NEW YORK NY 10018 SECURITY 227877 BATES CONSULTING GROUP LLC 50 PLAZA STREET EAST SUITE 8D BROOKLYN NY 11238 MANAGEMENT SERVICES 206837 Samuel D Proctor HDFC 4 W 125th St Fl 14 NEW YORK NY 10027 Housing 151765 Accountemps 33 Whitehall Street NEW YORK NY 10004 accounting temps 414769 9 28400 7318424 1149344 8496168 CONTRACTED SERVICES 531110 60660 60660 RENTAL INCOME 531110 490790 490790 MANAGEMENT FEES 531110 233858 233858 785308 1 1 0 0 0 0 0 4689264 351850 4337414 4337414 4337414 0 28400 10201 -10201 -10201 0 0 0 0 0 0 EXTINGUISHMENT OF DEBT 900999 631534 631534 MISCELLANEOUS 900999 893789 893789 1525323 15134013 785308 5852537 0 0 0 0 424111 127233 296878 0 5018235 3214749 1803486 38978 25336 13642 1258305 754983 503322 502943 326913 176030 0 214492 214492 37355 37355 0 0 0 1346710 1346710 54111 54111 61568 60881 687 0 21057 6949 14108 0 1289279 1185403 103876 55336 53123 2213 0 161819 161819 38243 38243 0 308088 308088 0 BAD DEBT 8340 8340 MISCELLANEOUS 354231 212881 141350 MAINTENANCE 73637 73637 11266838 7604728 3662110 0 0 732929 0 0 0 1046763 890999 358800 0 0 0 0 2769 0 0 0 151483 0 8041671 5986532 2217997 2055139 0 0 0 0 0 0 0 0 2418456 3195920 5681704 7389551 592104 1238888 0 0 0 0 0 0 0 0 0 0 3523457 1072083 0 0 367070 1900 4482631 2312871 X 1180573 5076680 18500 0 1199073 5076680 5681704 7389551 3867175 10432 X false false false X 7202738 8223469 8318920 8190342 8496168 40431637 0 0 7202738 8223469 8318920 8190342 8496168 40431637 248017 40183620 147 420 47 0 1 615 0 55574 387062 162729 5862737 6468102 46900354 15356733 0.85679 0.96870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7250979 5352960 1898019 12350 8822 3528 778342 624750 153592 2055139 DUE FROM AFFILIATES 3148328 SECURITY DEPOSITS 47592 3195920 0 SECURITY DEPOSITS 1900 1900 Gala 28400 28400 368 9833 0 28400 28400 368 9833 10201 -10201 X false false false false false false false false false STEVEN BROWN PRESIDENT & CEO (through 7/19) 137722 785 31676 170183 PATRICK JAMES Senior Vice President 122877 413 28262 151552 Lesia Bates Owns more than 35% of Bates Consulting Group, LLC 206837 Management Agreement false FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 IS REVIEWED BY MANAGEMENT. ONCE IT IS FILED, THE 990 IS THEN SHARED WITH THE BOARD AT THE NEXT MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE PRESIDENT REVIEWS THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRES WHICH ARE REQUIRED TO BE SIGNED BY ALL BOARD MEMBERS AND EMPLOYEES INCLUDING DIRECTORS, KEY EMPLOYEES AND OFFICERS. IF ANY CONFLICTS EXIST, THE PRESIDENT REPORTS ANY CONFLICTS TO THE BOARD CHAIRMAN. IF A CONFLICT EXISTS THE PARTY MUST EXCUSE THEMSELVES FROM DELIBERATIONS. FORM 990, PART VI, SECTION B, LINE 15A THROUGHOUT SOBRO, COMPENSATION IS MARKET-BASED AND SET AT LEVELS THAT ATTRACT QUALIFIED CANDIDATES FOR ANY GIVEN POSITION, AND ENCOURAGE TOP PERFORMERS TO STAY. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, LINE 3 SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION HIRED BATES CONSULTING GROUP, LLC TO PROVIDE AN INTERIM CHIEF FINANCIAL OFFICER. BATES CONSULTING GROUP, LLC PROVIDED LESIA BATES, OWNER OF BATES CONSULTING GROUP, LLC, TO PROVIDE THESE SERVICES. LESIA BATES ACTED AS THE INTERIM CFO FOR SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION AND RELATED ORGANIZATIONS. DURING THE FISCAL YEAR, SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION PAID BATES CONSULTING GROUP, LLC $206,837 FOR THEIR SERVICES. FORM 990, PART XI, LINE 9 Adjustment: $966,617 FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTANTS, SECURITY, & OTHER TOTAL FEES:1346710 Credit Inc 555 Bergen Avenue Bronx NY 10455 133790222 Financial Svc NY 501(C)(3) Line 7 SBOED true SOBRO Development Corporation 555 Bergen Avenue Bronx NY 10455 133157572 Development NY 501(C)(3) Line 10 SBOED true SOBRO Local Development Corporation 555 Bergen Avenue Bronx NY 10455 132943228 Development NY 501(C)(3) Line 10 SBOED true Bronx East 188th Street Apartments LLC 555 Bergen Avenue Bronx NY 10455 453636705 Development NY NA N/A false false Bronx NY East 188th Street Apts LP 555 Bergen Avenue Bronx NY 10455 453636766 Development NY NA N/A false false BUFNY II Associates LP 555 Bergen Avenue Bronx NY 10455 134026540 Development NY NA N/A false false Jasmine Courts Associates LLP 555 Bergen Avenue Bronx NY 10455 043728664 Development NY NA N/A false false Longwood Apartments LP 555 Bergen Avenue Bronx NY 10455 113666386 Development NY SBOED excluded 7 302 false false 0.00010 Woodycrest LP 555 Bergen Avenue Bronx NY 10455 030436382 Development NY NA N/A false false East 188th Street Apt HDFC 555 Bergen Avenue Bronx NY 10455 452942756 Development NY NA C Corp East 188th Street Apt Inc 555 Bergen Avenue Bronx NY 10455 453621216 Development NY NA C Corp Jasmine Court Housing Development Fund C 555 Bergen Avenue Bronx NY 10455 043728665 Development NY SBOEDC C Corp 1.00000 true Longwood Apartments Housing Development 555 Bergen Avenue Bronx NY 10455 141858572 Development NY SBOEDC C Corp 1.00000 true SOBRO Gateway HDFC 555 Bergen Avenue Bronx NY 10455 204869334 Development NY SBOEDC C Corp 1.00000 true SOBRO Lenox Corp 555 Bergen Avenue Bronx NY 10455 432072406 Development NY SBOEDC C Corop 1.00000 true SOBRO Monroe Court Housing Development F 555 Bergen Avenue Bronx NY 10455 453853200 Development NY NA C Corp Woodycrest Housing Development Fund Corp 555 Bergen Avenue Bronx NY 10455 562364943 Development NY SBOEDC C Corp -119 1.00000 true false false true false true false false false false false false true false true true false true false false SoBro Development Corporation Q 157311 Cost