2021-07-28T10:37:44-05:00 2019-03-31 BKD LLP 1155 Avenue of the Americas 1200 New York NY 10036 990 2018-04-01 132736022 South Bronx Overall Economic Development Corporation % KAREN MCGUINNESS SOUT 7182923113 555 BERGEN AVENUE BRONX NY 10455 LOURDES ZAPATA PRESIDENT & CEO 7182923113 2021-07-31 true Aaron Shapiro P01333816 2128674000 2018 2022-09-23 18:48:47Z LOURDES ZAPATA 555 BERGEN AVENUE BRONX NY 10455 14561696 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. 12 12 479 12 0 8318920 8190342 2836263 6197975 47 0 129400 117018 11284630 14505335 0 0 0 0 8521430 7918710 0 0 0 5506915 4811230 14028345 12729940 -2743715 1775395 5345087 5681704 5921409 4482631 -576322 1199073 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 3912753 THE YOUTH DEVELOPMENT AND EDUCATION DEPARTMENT PROVIDED AFTER-SCHOOL, SUMMER YOUTH EMPLOYMENT, AND OUT-OF-SCHOOL YOUTH SERVICES TO 1,955 YOUNG PEOPLE BETWEEN THE AGES OF 5 AND 24. IN-SCHOOL AND AFTER-SCHOOL PROGRAMS ASSISTED A TOTAL OF 1,258 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 1,163 YOUTH THROUGH OUR SYEP PROGRAM AND 148 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 YOUNGADULT JUSTICE SCHOLARS PROGRAM, SERVES AT-RISK YOUNG ADULTS TO EARN THEIR HIGH SCHOOL EQUIVALENCY (HSE) DIPLOMA, LEARN CONSTRUCTION ANDJOB-READINESS SKILLS, AND RESOLVE PERSONAL BARRIERS TO SUCCESS WITH OUR MASTER SOCIAL WORKER. WE HAVE ALSO ACQUIRED A YOUTHBUILD SITE IN HARLEM AS WE AS A STARBUCKS FOUNDATION AND YOUTHBUILD USA FUNDEDBARISTA TRAINING PROGRAM, WHICH WILL PROVIDE ADDITIONAL VOCATIONAL TRAINING OPPORTUNITIES FOR THE OUT-OF-SCHOOL YOUTH. SOBRO SERVED 89 PARTICIPANTS LAST YEAR. YOUNG ADULTS PARTICIPATING IN THE TRANSFORMATION ACADEMY CONTINUE TO BE OFFERED ENTREPRENEURIAL AND VOCATIONAL TRAINING OPPURTUNITIES, THROUGH OUR INNOVATIVE SOCIAL ENTERPRISES: SOBROX GRO URBAN FARM: WHERE YOU LEARN ABOUT THE BASICS OF URBAN FARMING THROUGH THE OPERATION OF A HYDROPONIC ROOFTOP FARM AND THE SOBRONX PRINT SHOP: WHERE THE YOUTH LEARN SCREEN PRINTING AND ENTREPRENEURIAL CONCEPTS THROUGH THE OPERATION OF A BUSINESS LOCATED IN THE BASEMENT OF VENTURE CENTER, SOBRO'S SMALL BUSINESS INCUBATOR. 869213 5442653 THE PROCUREMENT AND TECHNICAL ASSISTANCE (PTAC) PROGRAM HELPED LOCAL BUSINESSES TO SECURE LUCRATIVE GOVERNMENT CONTRACTS. SOBRO'S PROCUREMENT AND MINORITY BUSINESS PROGRAMS MAINTAINS 197 ACTIVE BUSINESS CLIENTS, RECRUITED 264 NEW CLIENTS, PROVIDED 58 WORKSHOPS AND SPECIAL EVENTS, 219 ONE ON ONE SESSIONS, 6 RECERTIFICATIONS, 23 REFERRALS, AND HELPED CLIENTS SECURE 14.3 MILLION WORTH OF CONTRACTS. IN FY 2019, THE M/WBE TEAM (WHICH INCLUDES MWBE LEADERSHIP ASSISTANCE AND TECHNICAL ASSISTANCE) HELD 220 ONE-ON-ONESESSIONS, 30 WORKSHOPS, 29 STANDARD M/WBE CERTIFICATION SUBMISSIONS, ASSISTED WITH 10 RECERTIFICATION APPLICATIONS, AND FACILITATED 33 REFERRALS. THE MINORITY BUSINESS CENTER BRONX PROVIDES CORE BUSINESS SERVICES SUCH AS GLOBAL BUSINESS DEVELOPMENT, ACCESS TO CAPITAL, ACCESS TO CONTRACTS, ACCESS TO MARKETS, AND STRATEGIC BUSINESS CONSULTING. OVER THE THREE-YEAR PERIOD, THE CENTER ASSISTED CLIENTS WITH ACCESSING: 348 MILLION IN FINANCING TRANSACTIONS, 82 MILLION IN CONTRACTING AND PROCUREMENT OPPORTUNITIES, SERVED OVER 348 CUSTOMERS, REFERRED 157 CLIENTS TO OTHER SERVICES, IMPACTED 532 NEW JOBS, AND RETAINED 765 JOBS AS A RESULT OF IT SERVICES, AND FACILITATED OVER NINE STRATEGIC BUSINESS TRANSACTIONS. OUR INDUSTRIAL BUSINESS ZONE PROGRAMS HELPED FIVE CLIENTS SECURE 210,000 IN FINANCING, WE HOSTED EVENTS FOR 50 ATTENDEES, HELPED 11 CLIENTS ACCESS INCENTIVES, AND WE ASSISTED 17 CLIENTS WITH THE STARTUP AND LAUNCH OF PROJECTS. SOBRO SERVICES THREE BROWNFIELD OPPORTUNITY AREA CONTRACTS (PORT MORRIS HARLEM RIVER, PORT MORRIS EAST RIVER, AND EASTCHESTER) AND THE EPA BRONX RIVER-SHERIDAN EXPRESSWAY CORRIDOR. THE PROGRAMS CONTINUE TO SURVEY THOUSANDS OF RESIDENTS, CATALOG AND INVENTORY PROPERTIES (61), HOLD COMMUNITY VISIONING SESSIONS (7), AND INTERVIEW HUNDREDS OF RESIDENTS. ADDITIONALLY, 43 SMALL GROUP MEETINGS WERE HELD, 11 STEERING COMMITTEE MEEETINGS, AND ENGAGED OFVER 60,000 THROUGH DIGITAL COMMUNICATIONS. OTHER PROJECTS INCLUDE A NEW OCS FUNDING TOLEVERAGE OUR PARTNERSHIPS WITH THE SOUTH BRONX BUSINESS COMMUNITY THAT HELP TO INCREASE ACCESS TO HEALTHIER FOOD OPTIONS AND CREATE EMPLOYMENT OPPORTUNITIES. THE INITIATIVE CONSISTS OF A COLLABORATION BETWEEN SOBRO, THE SOUTH BRONX BASED UNITED BUSINESS COOPERATIVE (UBC), AND BORN CORP., THE FIRST COLD-PRESSED JUICE BARAND HEALTH FOOD EATERY IN THE SOUTH BRONX. THIS INITIATIVE EMPLOYS AN HOLISTIC APPROACH THAT INCORPORATES COMMUNITY ENGAGEMENT, TECHNICAL ASSISTANCE TO PARTNER BUSINESSES, AND JOB CREATION. ADDITIONALLY, SOBRO IS STILL INVOLVED IN THE PROTECTION GREEN INFRASTRUCTURE PROGRAM AND THE ONGOING DEVELOPMENT OF THE ROBERTO CLEMENTE PLAZA. 895020 THE COMMUNITY AND ECONOMIC DEVELOPMENT DEPARTMENT (CED) ADMINISTERS AN ARRAY OF PROGRAMS THAT SEEK TO MAKE A LASTING IMPACT ON THE ECONOMIC, PHYSICAL, AND SOCIAL FABRIC OF OUR COMMUNITY. CED PROVIDED PROPERTY MANAGEMENT SERVICES IN THE BRONX AND UPPER MANHATTAN, AND BUSINESS ASSISTANCE SERVICES TO HUNDREDS OF NEW AND EXISTING CLIENTS. SOBRO'S BUSINESS INCUBATOR, THE VENTURE CENTER, HAS ALSO PROVIDED AN AFFORDABLE WORKING SPACE FOR BUSINESSES TO OPERATE AND GROW AND HAS AN OCCUPANCY RATE OF 98%. THE DEPARTMENT ALSO PROVIDES AN EXTENSIVE RANGE OF COMMERCIAL AND INDUSTRIAL BUSINESS INCENTIVES THROUGH PARTNERSHIPS WITH GOVERNMENT AGENCIES TO ATTRACT INVESTMENT AND ENSURE THAT EXISTING BUSINESSES CAN THRIVE. THE DEPARTMENT CONTINUED TO SUCCESSFULLY OPERATE MANY PROGRAMS THAT HAVE ATTRACTED THOUSANDS OF JOBS, HUNDREDS OF BUSINESSES, AND HUNDREDS OF MILLIONS OF DOLLARS IN INVESTMENT TO THE SOUTH BRONX THROUGHOUT SOBRO'S HISTORY. 432707 755322 Industrial Development and Job Creation 125126 Community Development 95712 Technical Assistance Programs 653545 755322 6330531 true true false false false false false false false false true false false true true false false true 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 94 0 479 true false false false false false true true false false false false false false X 12 12 false true false false false false false true true false false true true true true true true true false false NY X KAREN MCGUINNESS 7182923113 555 BERGEN AVENUE BRONX NY 10455 Mark Castle Chair 1.0 2.3 X X 0 0 0 Jean Smith Vice Chair 1.0 2.3 X X 0 0 0 Arline Parks Vice Chair 1.0 2.3 X X 0 0 0 Anthony Riccio Secretary 1.0 2.3 X X 0 0 0 Karen McGuinness Treasurer 1.0 2.3 X X 0 0 0 Phillip Banks Jr III Board Member 1.0 0.0 X 0 0 0 Simon Bergson Board Member 1.0 0.0 X 0 0 0 Hugh Grant Board Member 1.0 0.0 X 0 0 0 Patricia Rock Board Member 1.0 0.0 X 0 0 0 Mark Willis Board Member 1.0 0.0 X 0 0 0 Demetric Duckett Board Member 1.0 0.0 X 0 0 0 Tracy Woodall Board Member 1.0 0.0 X 0 0 0 Steven Brown President & CEO 26.5 8.5 X 209564 0 16176 Lesia Bates Interim CFO 26.5 8.5 X 0 0 0 209564 0 16176 1 false true false 149th Street Realty Associates LP 110 WEST 34TH STREET 9TH FLOOR NEW YORK NY 10001 RETAIL LEASING 504731 Winfield Security 57 WEST 38TH STREET 5TH FLOOR NEW YORK NY 10018 SECURITY 346107 Standard Waterproofing Corporation 701 EAST 134TH STREET BRONX NY 10454 CONSTRUCTION 228587 BATES CONSULTING GROUP LLC 50 PLAZA STREET EAST SUITE 8D BROOKLYN NY 11238 Management SERVICES 215300 GLOBAL CLUSTER NYC CORP 179 W ROCKS Road BROOKLYN NY 06851 IT Consulting 127897 5 134542 5823281 2232519 8190342 DEVELOPMENT FEES 531110 4731053 4731053 CONTRACTED SERVICES 531110 755322 755322 MANAGEMENT FEES 531110 373818 373818 RENTAL INCOME 531110 337782 337782 6197975 0 0 0 0 0 0 0 10650 134542 56361 -45711 -45711 0 0 0 0 0 0 MISCELLANEOUS 900099 162729 162729 162729 14505335 6197975 117018 0 0 0 0 238305 74726 163579 0 6662590 4081377 2581213 0 76378 49560 26818 414919 252002 162917 526518 317503 209015 0 114776 114776 31143 31143 0 0 0 1193229 446406 746823 0 962251 716296 245955 158144 52717 105427 0 1303204 125778 1177426 199882 192406 7476 0 0 157995 157995 0 311658 311658 0 BAD DEBT 336098 336098 MISCELLANEOUS 42850 21760 21090 12729940 6330531 6399409 0 0 0 0 0 416209 0 317607 890999 0 0 0 0 2769 2769 0 0 80794 151483 7896441 5678444 2498252 2217997 0 0 0 0 0 0 0 0 2029456 2418456 5345087 5681704 1265250 592104 0 0 535709 0 0 0 0 0 0 0 3400478 3523457 0 0 719972 367070 5921409 4482631 X -594822 1180573 18500 18500 0 0 -576322 1199073 5345087 5681704 1775395 X false true X false false X 5479248 7202738 8223469 8318920 8190342 37414717 0 0 5479248 7202738 8223469 8318920 8190342 37414717 410801 37003916 564 147 420 47 1178 0 176644 55574 387062 162729 782009 38197904 17116779 0.96874 0.97550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 133345 133345 7099779 5082834 2016945 12350 8329 4021 650967 587281 63686 2217997 DUE FROM AFFILIATES 2232641 SECURITY DEPOSITS 45139 RESTRICTED RESERVES 332 OTHER ASSETS 140344 2418456 0 CASH OVERDRAFT 319046 SECURITY DEPOSITS 48024 367070 SCHEDULE D, PART X, LINE 2 ASC 740 FOOTNOTE MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTITFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Gala 145192 134542 10650 39416 2868 14077 0 145192 134542 10650 39416 2868 14077 56361 -45711 X false false false false false false false false false Steven Brown President & CEO 209564 8800 7376 225740 Lesia Bates OWNS MORE THAN 35% OF Bates Consulting Group, LLC 327200 Management Agreement false 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 $327,200 FOR THEIR SERVICES. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BOARD. THE BOARD REVIEWS THE 990 AND MAKES RECOMMENDATIONS FOR CHANGES. THE BOARD THEN APPROVES THE FINAL RETURN BEFORE IT IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE PRESIDENT REVIEWS THE CONFLICT OF INTEREST POLICY AND QUESTIONAIRES WHICH ARE REQUIRED TO BE SIGNED BY ALL BOARD MEMBERS AND EMPLOYEES INCLUDING DIRECTORS, KEY EMPLOYEES AND OFFICERS. IF ANY CONFLICTS ESIXT, 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. 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