2017-06-14T06:57:52-07:00 2016-09-30 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2015-10-01 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 2017-06-14 true Michael Schall P02024184 2122682800 2015 2021-01-29 14:40:06Z Harriet Joynes 120 Broadway Suite 230 New York NY 10271 2558598 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. 10 10 13 10 0 1663602 2308094 39780 64397 174253 183875 691 2232 1878326 2558598 199407 179392 0 921047 972505 0 126716 588334 513061 1708788 1664958 169538 893640 4085003 4852949 1945415 1819721 2139588 3033228 The Business Center for New Americans helps immigrants, refugees, women, and other low- and moderate-income New Yorkers start and run small businesses and build financial assets through access to microloans and matched savings grants, financial and business training, and one-on-one coaching. false false 864881 244805 BCNAs microloan program awarded 349 small business loans with a value of $2,317,000 to immigrant, refugee, and women micro-entrepreneurs operating businesses in all five boroughs of New York City. BCNA worked with clients from 44 countries in FY 2016. 98% of all loans went to minority entrepreneurs and 54% were granted to women. BCNA helped entrepreneurs start 38 new businesses, expand 48 existing businesses, and strengthen 496 businesses. As a result, 96 full-time and 50 part-time jobs were created and 660 jobs were retained, supporting the economic development of communities throughout the city. 282788 179392 3467 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 2016, a total of 54 refugees and asylees reached their savings goals, leveraging a total of $379,928 in savings, match grants, and microloans.BCNA also provided 5,923 hours of small group training and individualized assistance to 670 clients in FY 2016. A total of 30 workshops were offered on small business management, financial literacy, social media marketing, and homeownership, with a total of 299 participants. BCNA staff assisted 595 businesses through business plan development, credit review and repair, cash flow analysis, and preparing business loan applications. Business Center for New Americans provides: Micro-loans for small businesses that range from $500 to $50,000Financial literacy and business management workshops Individualized coaching and technical assistance for micro-entrepreneursCredit 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 2016, the Business Center for New Americans:Awarded 349 small business loans with a value of $2,317,000 to immigrant and refugee micro-entrepreneurs. Ninety-eight percent of loans went to minority entrepreneurs, with 54% granted to women. Helped entrepreneurs start 38 new businesses, expand 48 businesses, and strengthen 496 existing businesses, creating 96 full-time and 50 part-time jobs and retaining 660 jobs. 670 unique clients were served through workshops and intensive one-on-one counseling. Provided 30 workshops on an assortment of small business related topics, as well as credit building and homeownership, with 299 participants in total.Assisted 54 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 was $379,928.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 2016, BCNA was recognized by the Small Business Administration for making the most SBA microloans in New York City for the 10th year. 1147669 true true false false false false false false false false false false false false false true true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 14 0 true 13 true false false false false false false false false 0 false false false false false false false false false false X 10 10 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 Board Chair 1.00 0.00 X X 0 0 0 Colleen Galvin Director 1.00 0.00 X 0 0 0 Stan Kosyakovskiy Treasurer 1.00 0.00 X X 0 0 0 Peter Brest Director 1.00 0.00 X 0 0 0 Jonathan Gutman Director 1.00 0.00 X 0 0 0 Larisa Ortiz Director 1.00 0.00 X 0 0 0 Deepti Sharma Kapur Director 1.00 0.00 X 0 0 0 Tony Schweinzer Director 1.00 0.00 X 0 0 0 Larry Rubenstein Director 1.00 0.00 X 0 0 0 Sheel Tyle Director 1.00 0.00 X 0 0 0 Yanki Tshering Executive Dir. 35.00 0.00 X 125479 0 22425 125479 22425 1 false false false 0 2090016 218078 2308094 Program Fees 900099 64397 64397 64397 183875 183875 0 0 0 0 0 0 0 Other Income 900099 2232 2232 2232 2558598 2232 248272 0 179392 179392 0 0 144248 36062 100974 7212 0 633918 505340 65746 62832 68951 47972 14773 6206 64664 44989 13854 5821 60724 42248 13010 5466 0 0 27512 27512 0 0 0 111539 30124 59487 21928 0 25471 13268 12154 49 0 0 145462 101204 31165 13093 46867 25741 17017 4109 0 0 2622 2622 0 0 7388 7388 Bad Debt Expense 93608 93608 Bank Charges and processing 15870 13136 2734 Telephone & Communications 13817 4318 9499 Dues and Subscriptions 8479 3949 4530 14426 3696 10730 1664958 1147669 390573 126716 1521484 1768711 0 303136 331332 0 0 0 2065450 2606248 0 4913 4658 0 0 0 0 0 190020 142000 4085003 4852949 138115 148573 204250 1592883 1660981 10167 10167 1945415 1819721 X 1988905 2765718 150683 267510 2139588 3033228 4085003 4852949 893640 X false true X true true true X 1764909 1744531 1542379 1663602 2308094 9023515 0 0 1764909 1744531 1542379 1663602 2308094 9023515 344704 8678811 111572 133705 168157 174253 183875 771562 0 259 14940 15551 691 2232 33673 9828750 208309 0.88300 0.87420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 2558598 2558598 2558598 1664958 1664958 1664958 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, 2013 and later are subject to examination by applicable taxing authorities. true 0 0 Matching contributions for savings 91 179392 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. 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.