2014-06-11T10:50:00-07:00 2013-09-30 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2012-10-01 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 2014-06-11 true David C Ashenfarb P00535436 2122682800 2012 2015-11-30 17:44:51Z Harriet Joynes 120 Broadway Suite 230 New York NY 10271 1924207 false false X www.nybcna.org X 2002 NY Provide micro-loans and training to help immigrant and other low- to moderate-income entrepreneurs start and run small businesses, build savings and assets, and create wealth. 8 8 9 8 0 1764909 1744531 27944 31031 111572 133705 259 14940 1904684 1924207 200929 192748 0 722222 0 84862 1103015 476019 1303944 1390989 600740 533218 2368714 2780408 1201044 1079520 1167670 1700888 BCNA helps immigrants, refugees, women, and other New Yorkers establish and run small businesses and build financial assets through micro-loans, matched savings grants, financial and business education, and coaching. false false 1069741 In support of our mission, the 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 building services Home ownership and down payment assistance through training and accessing incentives Incentivized savings program for refugees through Individual Development Accounts During fiscal year 2013, the Business Center for New Americans: Awarded 290 small business loans with a value of $1.5 million to immigrant and refugee micro-entrepreneurs, the largest number of loans to date. Ninety percent went to minority entrepreneurs, with 40% of all loans granted to women. Assisted 444 small businesses to start, strengthen, or expand, creating 80 full time and 23 part-time jobs and retaining 538 jobs. A total of 645 unique clients were served through intensive one-on-one counseling. Provided 16 workshops on an assortment of small business related topics, as well as credit building and homeownership with 223 participants in total. Assisted 88 refugees to save money in an Individual Development Account Program, which matches savings dollar for dollar for specific purposes up to $2,000 for individuals and $4,000 for families. Forty six clients met their savings goal and graduated; 42 continued in the program. The total leveraged value of the client savings, savings match, and micro-loans to those starting a small business $584,100. 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 2013, BCNA was recognized by the Small Business Administration for making the most SBA loans in New York City (for the 6th time) and as the third largest loan originator in the U.S. 1069741 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 9 0 true 9 true false false false false false false false false 0 false false false false false false false false false false X 8 8 false false false false false false false true true false false true true true true true true true true false NY X Yanki Tshering 2128984112 120 Broadway Suite 230 New York NY 10271 Tony Schweinzer 1.00 0.00 X 0 0 0 Melissa Lloyd 1.00 0.00 X 0 0 0 Deepti Sharma Kapur 1.00 0.00 X 0 0 0 Foulis Peacock 1.00 0.00 X 0 0 0 Jill Kelly 1.00 0.00 X 0 0 0 Peter Brest 1.00 0.00 X 0 0 0 Stan Kosyakovskiy 1.00 0.00 X X 0 0 0 Bryan Pu-Folkes 1.00 0.00 X X 0 0 0 Harriet Joynes 1.00 0.00 X X 0 0 0 Yanki Tshering 35.00 0.00 X 100727 0 14000 100727 14000 1 false false false 0 1558239 186292 1744531 Program Fees 900099 31031 31031 31031 133705 133705 0 0 0 0 0 0 0 Other Income 900099 14940 14940 14940 1924207 45971 133705 0 192748 192748 0 0 110831 35599 43761 31471 0 460580 420770 39115 695 53894 43043 7817 3034 49551 39575 7187 2789 47366 37830 6870 2666 0 0 0 0 0 0 0 1761 1716 45 18087 13242 4807 38 0 0 94801 75715 13749 5337 30840 14587 7831 8422 0 0 25604 22727 2877 0 0 876 876 Equipment Rental 11729 11729 Telephone & Internet 13530 12006 1524 Bad Debt Expense 76673 76673 Professional Fees 188273 66861 91002 30410 13845 4920 8925 1390989 1069741 236386 84862 376940 710355 0 198988 130841 0 0 0 1498021 1859177 0 22387 0 0 0 0 0 294765 57648 2368714 2780408 7350 72052 102111 88208 1081416 718006 10167 201254 1201044 1079520 X 1054822 1645733 112848 55155 1167670 1700888 2368714 2780408 533218 X false true X true true true X 1288695 989975 1764909 1744531 5788110 0 0 1288695 989975 1764909 1744531 5788110 95079 5693031 79296 145852 111572 133705 470425 0 520531 15731 259 14940 551461 6809996 100819 X 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1924207 1924207 1924207 1390989 1390989 1390989 Part X 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, 2010 and later are subject to examination by applicable taxing authorities. true 0 0 Matching contributions for savings 75 192748 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 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Financial statements are available upon request. Form 990, Part VI, Line 15a 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 12c 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 11b 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.