2019-04-26T07:05:46-07:00 2018-09-30 134036703 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2017-10-01 810584343 Center for Comm Dev for New Americans dba Business Center for New Americans CENT 2128984112 120 Broadway Suite 230 New York NY 10271 Stan Kosyakovskiy Treasurer 2019-04-26 true Michael Schall P02024184 2122682800 2017 2019-02-21 02:37:17Z Larry Rubenstein 120 Broadway Suite 230 New York NY 10271 2809767 false false X www.nybcna.org X 2002 NY Provide microloans and training to help low- and moderate-income immigrants, refugees and women in New York City start and run small businesses, build savings and assets, and achieve financial stability. 6 6 13 6 0 2248638 2398383 64531 99299 259471 304590 19223 7495 2591863 2809767 163955 115074 0 1087782 1163180 0 132991 607743 791292 1859480 2069546 732383 740221 6400812 7528123 2635201 3022291 3765611 4505832 The Business Center for New Americans (BCNA) creates a pathway to self-sufficiency for immigrant and refugee entrepreneurs in New York City by providing access to affordable credit, empowering with financial education, and offering training in best business practices and technology. false false 1494654 115074 99299 Business Center for New Americans provides: Loans for small businesses that range from $500 to $250,000 Financial literacy and business management workshops Individualized coaching and technical assistance for micro-entrepreneurs Credit repair services and credit building loans Home ownership training that connects clients with down payment assistance programs Incentivized savings program for refugees through Individual Development Accounts During FY 2018, the Business Center for New Americans: Awarded 366 small business loans with a value of $3,400,017 to immigrant and refugee micro-entrepreneurs. Ninety-five percent of loans went to minority entrepreneurs, with 56% granted to women. Helped entrepreneurs start 49 new businesses, expand 63 businesses, and strengthen 562 existing businesses, creating 113 full-time and 93 part-time jobs and retaining 845 jobs. 674 unique clients were served through workshops and intensive one-on-one counseling. Provided 34 workshops on an assortment of small business related topics, as well as credit building and homeownership, with 386 participants in total. Assisted 67 refugees to save money through the Individual Development Account program, which matches savings dollar for dollar up to $2,000 for individuals and $4,000 for families. The total leveraged value of the client savings, savings match, and microloans to those starting a small business or investing in further education or recertification by 37 refugees who successfully graduated from the program was $214,198.The Business Center for New Americans is certified as a Community Development Financial Institution (CDFI) by the US Department of the Treasury. BCNA is also certified as a Small Business Administration Intermediary Microlender and a Community Advantage Lender by the U. S. Small Business Administration (SBA).BCNA provided 5,327 hours of small group training and individualized assistance to 675 clients in FY 2018. A total of 34 workshops were offered on small business management, financial literacy, social media marketing, and homeownership, with a total of 386 participants. BCNA staff assisted 674 businesses through business plan development, credit review and repair, cash flow analysis, and preparing business loan applications. BCNAs Individual Development Account program provides financial literacy training and matching grants to assist refugees and asylees learn personal financial management skills and grow their savings. Each refugee can receive grants of up to $2,000 for an individual or $4,000 for a family. Grants must be used to invest in a small business, towards the purchase of a first home, or to cover costs of further education or vocational training. In FY 2018, a total of 67 refugees participated in the IDA Program and 37 refugees and asylees reached their savings goals, leveraging a total of $214,198 in savings, match grants, and microloans. 1494654 true true false false false false false false false false false false false false true true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false true 17 0 true 13 true false false false false false false false false 0 false false false false false false false false false false X 6 6 false false false false false false false true true false false true true true true true true true false false NY X Yanki Tshering 2128984112 120 Broadway Suite 230 New York NY 10271 Larry Rubenstein Chair 1.00 0.00 X X 0 0 0 Stan Kosyakovskiy Treasurer 1.00 0.00 X X 0 0 0 Colleen Galvin Secretary 1.00 0.00 X X 0 0 0 Peter Brest Director 1.00 0.00 X 0 0 0 Carolina Simon Director 1.00 0.00 X 0 0 0 Kwame Marfo Director 1.00 0.00 X 0 0 0 Yanki Tshering Executive Dir. 35.00 0.00 X 147518 0 26542 147518 26542 1 false true false 0 1900837 497546 2398383 Program Fees 900099 99299 99299 99299 304590 304590 0 0 0 0 0 0 0 Other Income 900099 7495 7495 7495 2809767 403889 7495 0 115074 115074 0 0 194554 143298 35644 15612 0 747558 550613 136956 59989 64675 47635 11850 5190 85398 62900 15646 6852 70995 52291 13007 5697 0 2550 2550 52815 52815 0 0 0 127869 44197 65823 17849 0 86353 67686 17206 1461 13652 8966 4686 0 175825 129504 32212 14109 64148 31989 25967 6192 0 0 11372 11352 20 0 0 7843 7843 Bad Debt Expense 201340 201340 Bank Charges and processing 14060 8040 6020 Miscellaneous expenses 12736 7011 5725 Dues and Subscriptions 10883 10843 40 9846 1915 7931 2069546 1494654 441901 132991 2787078 3074327 0 266245 281256 0 0 0 3216621 4130730 0 4800 3101 0 0 0 0 0 126068 38709 6400812 7528123 55195 77478 62000 120986 1822269 2126196 510167 510167 185570 187464 2635201 3022291 X 3181335 4076977 584276 428855 3765611 4505832 6400812 7528123 740221 X false true X true true true X 1542379 1663602 2308094 2248638 2398383 10161096 0 0 1542379 1663602 2308094 2248638 2398383 10161096 303134 9857962 168157 174253 183875 259471 304590 1090346 0 15551 691 2232 19223 7495 45192 11296634 313164 0.87260 0.88570 X Wealf Payable 187464 187464 X 2868517 58750 58750 2809767 2809767 2128296 58750 58750 2069546 2069546 Part X : FIN48 Footnote The Center does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending September 30, 2015 and later are subject to examination by applicable taxing authorities. true 0 0 Matching contributions for savings 40 115074 Grantmaker's Description of How Grants are Used Upon qualifying for the "Matched Savings Program", the Center matches the savings amount up to a specified allowable limit. X false false false false false false false false false false Yanki Tshering Executive Dir. 147518 15446 11096 174060 Form 990, Part VI, Line 11b: Form 990 Review Process Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization has a board approved conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the executive director to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Financial statements are available upon request.