2024-04-08T07:03:19-07:00 2023-06-30 810926770 NCHENG LLP CERTIFIED PUBLIC ACCOUNTANTS 40 WALL ST 32ND FL NEW YORK NY 10005 990 2022-07-01 113596666 BOC CAPITAL CORP BOCC 7186249115 85 SOUTH OXFORD STREET BROOKLYN NY 11217 NANCY CARIN EXECUTIVE DIRECTOR 2024-04-08 true NANCY CARIN 999009999 true Nerou Cheng P00367208 2127850100 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z NANCY CARIN 85 SOUTH OXFORD STREET BROOKLYN NY 11217 5105426 false X https://boccapital.org/ X 2001 NY TO PROMOTE EMPLOYMENT AND BUSINESS DEVELOPMENT IN ECONOMICALLY DISTRESSED AREAS. 13 12 0 15 0 5755962 4085167 1778105 996769 4112 23490 3000 0 7541179 5105426 218210 127582 0 1712190 1814946 0 0 959085 1546225 2889485 3488753 4651694 1616673 34111492 29123942 19600438 12996215 14511054 16127727 TO ADDRESS POVERTY IN ECONOMICALLY DISTRESSED AREAS BY PROMOTING EMPLOYMENT,BUSINESS DEVELOPMENT, AND OTHER ECONOMIC AND SOCIAL OPPORTUNITY AS A PROVIDER OF FINANCING AND SMALL BUSINESS ASSISTANCE. WEALTH, ECONOMICALLY EMPOWER INDIVIDUALS, AND CREATE JOBS IN LOW-INCOME COMMUNITIES. false false 2894269 127582 3812331 MICROLOAN AND SMALL BUSINESS LOAN PROGRAM - TO PROMOTE EMPLOYMENT AND BUSINESS OPPORTUNITY IN ECONOMICALLY DISTRESSED COMMUNITIES THROUGH ADVICE, LOANS, AND OTHER ASSISTANCE INCLUDING COVID-19 RELIEF LOAN FOR ENTREPRENEURS OF COLOR AND SBA PAYCHECK PROTECTION PROGRAM LOANS. 2894269 true true false false false false false false false false false false false false true true false true 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 true false false false true 44 0 true 0 false false false false false false false 0 false false false false false false false X 13 12 true false false false false true true true true false true true true true true true true true true true false NY X X X ELENA ZIKUSS 7186249115 85 SOUTH OXFORD STREET BROOKLYN NY 11217 NANCY CARIN Exec. Director 14.00 26.00 X X 0 199500 34036 ELENA ZIKUSS CFO 7.00 33.00 X 0 144965 38283 RODNEY SANTIAGO CPO 21.00 19.00 X 0 157335 22248 Lauren Evans Sr Program Manager 39.00 1.00 0 91750 25953 ALEXANDR MESONZHNIK Sr account manager 35.00 5.00 0 101442 16212 RYAN WIDENHOUSE Business Devel Off 40.00 0.00 0 86625 13664 LESLIE WINTER Co-Chair 2.50 1.60 X X 0 0 0 GREGORY J LIBERTINY Co-chair 1.50 1.60 X X 0 0 0 WALTER SWEET Director 0.50 0.50 X 0 0 0 BIJAL N VIRA Director 0.10 0.10 X 0 0 0 DANIEL LIU Director 0.10 0.20 X 0 0 0 Erika Wesley Director 0.10 0.10 X 0 0 0 Yiye Charles Zhou Director 0.10 0.10 X 0 0 0 John Rooney Director 0.10 0.10 X 0 0 0 KUNAL VERMA Treasurer 1.50 1.60 X X 0 0 0 DAVID ACEVEDO Director 1.00 0.20 X 0 0 0 EILEEN V THORNTON Director 0.10 0.10 X 0 0 0 MICHAEL MUELLER Secretary 1.00 0.50 X X 0 0 0 781617 150396 0 false true false 0 3538932 546235 1603 4085167 Loan Interest 754473 754473 Program Income 242296 242296 996769 23490 23490 0 0 0 0 0 0 0 Other income 900099 0 5105426 996769 23490 87500 87500 40082 40082 0 0 194313 142603 51710 0 1246365 952312 294053 0 262471 199477 62994 111797 84966 26831 355111 314227 40884 0 27275 27275 0 0 0 0 0 0 0 0 152239 117779 34460 26164 24729 1435 0 0 104220 92814 11406 0 0 24494 18615 5879 Bad debt and provision losses 632468 632468 Postage and shipping 111071 83607 27464 Lending services and fees 70973 70973 Other expenses 36705 31809 4896 5505 308 5197 3488753 2894269 594484 0 17806971 9170633 3467872 5966270 0 1465727 1598016 0 0 10733059 11785769 0 5921 11579 0 0 0 0 0 631942 591675 34111492 29123942 266591 374150 1274584 321650 15717983 11191962 500000 500000 1841280 608453 19600438 12996215 X 10802243 11125821 3708811 5001906 14511054 16127727 34111492 29123942 1616673 X X false true X true true true X 475798 1887059 4891570 5755962 4085167 17095556 0 0 475798 1887059 4891570 5755962 4085167 17095556 0 17095556 423293 648204 827440 857907 777963 3534807 0 7000 3000 10000 20640363 0.82830 0.81760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED INTERCOMPANY PAYABLES 358604 OTHER LIABILITIES 249849 608453 X 5105426 5105426 5105426 3488753 3488753 3488753 Part X : FIN48 Footnote BOC CAPITAL CORP. is exempt from INCOME TAXES UNDER 501(C)(3) OFTHE INTERNAL REVENUE CODE. BOC CAPITAL CORP. HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTIONS WHERE IT OPERATES. BBOC CAPITAL CORP. DOES NOT ANTICIPATE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. PERIODS ENDING JUNE 30, 2020 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. true 0 0 Grants to licensed childcare provid 13 32500 Cash grants of 2500 Grants to Discretionary 2 7582 Grantmaker's Description of How Grants are Used Covid relief grant programs were distributed to small businesses negatively affected as a result of COVID. grant receipients demonstrated the need and provided documentation to support grant approval and distribution. supporting documents and grant determination for each grant are kept by the organization. true X X X X false false false false false false false false false ELENA ZIKUSS CFO 144965 38283 183248 NANCY CARIN Exec. Director 199500 34036 233536 RODNEY SANTIAGO CPO 157335 22248 179583 Tobe Tsuchiya Family member of 92768 Salary & health insurance false Schedule L, Part V Supplemental Information SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAME OF PERSON: TOBE TSUCHIYA(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:FAMILY MEMBER OF EXECUTIVE DIRECTOR(D) DESCRIPTION OF TRANSACTION: SALARY AND HEALTH INSURANCE ANDRETIREMENT CONTRIBUTIONS Form 990, Part VI, Section A, Line 2 THE ORGANIZATION HIRED A FAMILY MEMBER OF THE EXECUTIVE DIRECTOR. TOBE TSUCHIYA (KEY EMPLOYEE) & NANCY CARIN (EXECUTIVE DIRECTOR) ARE RELATED. Form 990, Part VI, Section A, Line 7a THE BOARD OF DIRECTORS HAS TWO CLASSES OF MEMBERS; SEATED DIRECTORS ARE ELECTED AS FOLLOWS: THE BOARD OF DIRECTORS NOMINATES POTENTIAL NEW SEATED DIRECTORS. POTENTIAL SEATED DIRECTORS ARE INTERVIEWED AND SCREENED BY THE EXECUTIVE COMMITTEE. POTENTIAL SEATED DIRECTORS ARE VOTED ON BY THE FULL BOARD. IT TAKES A SIMPLE MAJORITY OF VOTES TO APPROVE THE NOMINEE. SPONSOR DIRECTORS ARE ELECTED AS FOLLOWS: SPONSOR MEMBERS OF THE CORPORATION NOMINATE POTENTIAL NEW SPONSOR DIRECTORS, WHOSE NOMINATION AND BIO ARE DISSEMINATED TO SPONSOR 8. MEMBERS OF THE CORPORATION. EACH SPONSOR MEMBER HAS TWO VOTES FOR UP TO TWO SPONSOR DIRECTORS. TWO POTENTIAL SPONSOR DIRECTORS RECEIVING THE MOST VOTES ARE ELECTED TO THE BOARD. Form 990, Part VI, Section A, Line 7b A MAJORITY OF THE ENTIRE BOARD CONSTITUTES A QUORUM FOR THE TRANSACTION OF BUSINESS. AT ANY MEETING OF THE BOARD AT WHICH A QUORUM IS PRESENT, THE VOTE IS CONSIDERED TO BE THE ACT OF THE BOARD. ANY ACTION REQUIRED OR PERMITTED TO BE TAKEN BY THE BOARD OR ANY COMMITTEE THEREOF MAY BE TAKEN WITHOUT A MEETING IF ALL MEMBERS OF THE BOARD OR THE COMMITTEE CONSENT IN WRITING TO THE ADOPTION OF A RESOLUTION AUTHORIZING THE ACTION. THE RESOLUTION AND THE WRITTEN CONSENTS BY THE MEMBERS OF THE BOARD IS FILED WITH THE MINUTES OF THE PROCEEDINGS OF THE BOARD. Form 990, Part VI, Section B, Line 11b The Audit Committee will receive the draft of Form 990 and its supporting schedules for review and approval. They will scrutinize the document for accuracy, discuss any significant transactions or disclosures, and suggest any necessary amendments. Following a majority vote for approval by the committee, the CFO or an appointed staff member will file Form 990 with the IRS by the deadline. The filed Form 990 will then be presented to the board members at the subsequent board meeting, and a copy will be kept in the organizations records. Form 990, Part VI, Section B, Line 12c WE MAINTAIN CONFLICT OF INTEREST POLICIES FOR OFFICERS, DIRECTORS AND ALL EMPLOYEES. THE ED REVIEWS THESE POLICIES WITH ALL STAFF TWICE EACH YEAR. OFFICERS, DIRECTORS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE WHEN JOINING THE BOARD, AND ON AN ANNUAL BASIS THEREAFTER. Form 990, Part VI, Section B, Line 15a The executive committee regularly evaluates the executive director's performance to ensure their compensation package aligns with industry benchmarks. After thoroughly reviewing comparable salaries from recognized studies, compensation surveys, and Form 990s of other non-profit organizations with similar size and activity, the executive committee proposes revised compensation. The Governance Committee also provides their input, and the Board of Directors makes the final decision. Form 990, Part VI, Section B, Line 15b THE ORGANIZATION HAS ESTABLISHED A WRITTEN POLICY WHERE COMPENSATION IS DETERMINED BASED ON: IMPARTIAL DECISION MAKERS; COMPARABILITY DATA; EXPERIENCE LEVEL AND EDUCATIONAL BACKGROUND; CONCURRENT DOCUMENTATION; ANNUAL PERFORMANCE REVIEW. Form 990, Part VI, Section C, Line 18 Fiscal office provides copies of organization's governing documents, conflict of interest policy, and financial statements upon request. Form 990, Part VI, Section C, Line 19 FINANCIAL STATEMENTS AND COPIES OF FORM 990 FILES IN THE FINANCES FILES, AND COPIES ARE LOCATED AT THE FINANCE OFFICE FOR PUBLIC INSPECTION AND/OR COPYING DURING REGULAR BUSINESS HOURS. DISCLOSURE OF GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY: GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION, BYLAWS) AND CONFLICT OF INTEREST POLICY OF OUR ORGANIZATION ARE SUBJECT TO THE FEDERAL PUBLIC DISCLOSURE RULES AND THESE DOCUMENTS ARE PUBLICLY AVAILABLE AND LOCATED AT THE FINANCE OFFICE FOR PUBLIC INSPECTION AND/OR COPYING DURING REGULAR BUSINESS HOURS. Form 990, Part XII, Line 2c THE REVEIW PROCESS OF THE FORM 990 HAS NOT CHANGED FROM PRIOR YEAR. BUSINESS OUTREACH CENTER NETWORK INC 85 SOUTH OXFORD STREET BROOKLYN NY 11217 113306111 TO PROMOTE EMPL AND INCREASE BUS. OPP NY 501(C)(3) 170(B)(1)(A) NA false BOC DEVELOPMENT CORPORATION 85 SOUTH OXFORD STREET BROOKLYN NY 11217 202660238 TO PROMOTE VITALITY AND REDUCE POVERTY NY 501(C)(3) 509(A)(2) NA false false true false false false false false false false false false false false true true true true false false BUSINESS OUTREACH CENTER NETWORK INC b 30000 Actual Amount BUSINESS OUTREACH CENTER NETWORK INC n 64320 Allocated amt BUSINESS OUTREACH CENTER NETWORK INC o 1814945 Allocated amt BUSINESS OUTREACH CENTER NETWORK INC p 2965672 Actual amount BUSINESS OUTREACH CENTER NETWORK INC q 15294 Actual amount