2018-04-11T11:06:25-07:00 2017-09-30 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2016-10-01 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 2018-04-11 true Michael Schall P02024184 2122682800 2016 2021-01-29 14:40:06Z Larry Rubenstein 120 Broadway Suite 230 New York NY 10271 2591863 false false X www.nybcna.org X 2002 NY 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. 9 9 13 9 0 2308094 2248638 64397 64531 183875 259471 2232 19223 2558598 2591863 179392 163955 0 972505 1087782 0 147955 513061 607743 1664958 1859480 893640 732383 4852949 6400812 1819721 2635201 3033228 3765611 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. false false 1035190 298842 BCNAs microloan program awarded 347 small business loans with a value of $2,580,500 to immigrant, refugee, and women micro-entrepreneurs operating businesses in all five boroughs of New York City. BCNA worked with clients from 43 countries in FY 2017. 95% of all loans went to minority entrepreneurs and 56% were granted to women. BCNA helped entrepreneurs start 32 new businesses, expand 73 existing businesses, and strengthen 558 businesses. As a result, 61 full-time and 73 part-time jobs were created and 697 jobs were retained, supporting the economic development of communities throughout the city.Business Center for New Americans provides: Micro-loans for small businesses that range from $500 to $50,000 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 2017, the Business Center for New Americans: Awarded 347 small business loans with a value of $2,580,500 to immigrant and refugee micro-entrepreneurs. Ninety-five percent of loans went to minority entrepreneurs, with 56% granted to women. Helped entrepreneurs start 32 new businesses, expand 73 businesses, and strengthen 558 existing businesses, creating 61 full-time and 73 part-time jobs and retaining 697 jobs. 676 unique clients were served through workshops and intensive one-on-one counseling. Provided 39 workshops on an assortment of small business related topics, as well as credit building and homeownership, with 336 participants in total. Assisted 70 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 51 refugees who successfully graduated from the program was $316,000.BCNA provided 4,952 hours of small group training and individualized assistance to 699 clients in FY 2017. A total of 39 workshops were offered on small business management, financial literacy, social media marketing, and homeownership, with a total of 336 participants. BCNA staff assisted 658 businesses through business plan development, credit review and repair, cash flow analysis, and preparing business loan applications. 277344 163955 3305 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 2017, a total of 70 refugees participated in the IDA Program and 51 refugees and asylees reached their savings goals, leveraging a total of $316,000 in savings, match grants, and microloans.The Business Center for New Americans is certified as a Community Development Financial Institution (CDFI) by the US Department of the Treasury and a Small Business Administration Intermediary Microlender by the U. S. Small Business Administration (SBA). In FY 2017, BCNA was recognized by the Small Business Administration for making the most SBA microloans in New York City for the 11th year. 1312534 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 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 9 9 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 Harriet Joynes Chair-thru 1/17 1.00 0.00 X X 0 0 0 Stan Kosyakovskiy Treasurer 1.00 0.00 X X 0 0 0 Larry Rubenstein Chair-beg.1/17 1.00 0.00 X X 0 0 0 Collen Galvin Secretary 1.00 0.00 X X 0 0 0 Peter Brest Director 1.00 0.00 X 0 0 0 Deepti Sharma Director 1.00 0.00 X 0 0 0 Larisa Ortiz Director 1.00 0.00 X 0 0 0 Tony Schweinzer 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 23601 147518 23601 1 false true false 0 1760707 487931 2248638 Program Fees 900099 64531 64531 64531 259471 259471 0 0 0 0 0 0 0 Other Income 900099 19223 19223 19223 2591863 64531 278694 0 163955 163955 0 0 154280 38570 107996 7714 0 699660 567722 67656 64282 65351 46399 13442 5510 89086 63251 18325 7510 79405 56377 16333 6695 0 2425 2425 45938 45938 0 0 0 78260 39466 25037 13757 0 45495 22004 20297 3194 14966 8600 6366 0 171959 122090 35371 14498 58373 25736 8079 24558 0 9200 4499 4613 88 4477 4477 0 0 7165 7165 Bad Debt Expense 131275 131275 Miscellaneous expenses 10977 4186 6791 Bank Charges and processing 10235 7296 2934 5 Equipment Rental 8764 882 7882 8234 5749 2341 144 1859480 1312534 398991 147955 1768711 2787078 0 331332 266245 0 0 0 2606248 3216621 0 4658 4800 0 0 0 0 0 142000 126068 4852949 6400812 48074 55195 62000 1660981 1822269 10167 510167 100499 185570 1819721 2635201 X 2765718 3181335 267510 584276 3033228 3765611 4852949 6400812 732383 X false true X true true true X 1744531 1542379 1663602 2308094 2248638 9507244 0 0 1744531 1542379 1663602 2308094 2248638 9507244 225826 9281418 133705 168157 174253 183875 259471 919461 0 14940 15551 691 2232 19223 52637 10479342 244896 0.88570 0.88300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Wealf Payable 185570 185570 X 2591863 2591863 2591863 1859480 1859480 1859480 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, 2014 and later are subject to examination by applicable taxing authorities. true 0 0 Matching contributions for savings 70 163955 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 13598 10003 171119 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.