2024-04-08T07:04:08-07:00 2023-06-30 810926770 NCHENG LLP CERTIFIED PUBLIC ACCOUNTANTS 40 WALL ST 32ND FL NEW YORK NY 10005 990 2022-07-01 202660238 BOC DEVELOPMENT CORPORATION BOCD 7186249115 85 SOUTH OXFORD STREET BROOKLYN NY 11217 NANCY CARIN PRESIDENT 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 261928 false X http://bxl.nyc/ X 2005 NY BOC Development promote employment, business development and other economic and social opportunities. 7 5 0 15 0 36000 30000 233947 231272 2 6 220 650 270169 261928 0 0 0 0 0 183869 310752 183869 310752 86300 -48824 115223 47570 213522 194693 -98299 -147123 THROUGH PARTNERSHIPS, BOC DEVELOPMENT CORPORATION HELPS PRESERVE COMMERCIAL SPACE FOR SMALL BUSINESS USES IN LOW-INCOME AREAS AND COLLABORATES WITH THE BUSINESS OUTREACH CENTER NETWORK, INC. FOR SERVICES TO SMALL BUSINESS AND ADMINISTRATIVE SUPPORT. SOURCES OF REVENUES ARE PROGRAM FEES ASSOCIATED WITH COMMERCIAL/INDUSTRIAL BUSINESS DEVELOPMENT AS WELL AS USER FEES AND GRANT SUPPORT FOR THE BRONX BUSINESS INCUBATOR. false false 279137 231272 BOC DEVELOPMENT CORPORATION OPERATES WITH BXL BRONX BUSINESS INCUBATOR IN COLLABORATION WITH BUSINESS OUTREACH CENTER NETWORK, INC. BXL BUSINESS INCUBATOR WAS LAUNCHED MAY 1, 2014 IN HUNTS POINT, BRONX, WITH A LEASE FOR AN 11,000 SQUARE FOOT SMALL BUSINESS INCUBATOR SPACE AT THE BANK NOTE BUILDING. THE BXL INCUBATOR PROVIDES A COMBINATION OF SHARED-USE OFFICE SPACE AND SUPPORT SERVICES TO ENTREPRENEURS AND SMALL BUSINESSES WITH A SPECIAL FOCUS ON INDUSTRIES AND SECTORS THAT OFFER GROWTH POTENTIAL. 279137 true true false false false false false false false false false false false true true true false 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 true false false false true 3 0 true 0 false false false false false false false 0 false false false false false false false X 7 5 false 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 President 4.00 40.00 X X 0 199500 34036 ELENA ZIKUSS CFO 2.00 40.00 X 0 144965 38283 RODNEY SANTIAGO Treasurer 4.00 40.00 X X 0 157335 22248 ROBERTA COHEN Secretary 0.10 0.00 X X 0 0 0 LESLIE WINTER Aud Comm chair 0.10 4.00 X 0 0 0 DAVID ACEVEDO AUD comm member 0.10 1.10 X 0 0 0 GREGORY J LIBERTINY Aud comm member 0.10 3.00 X 0 0 0 DANIEL LIU Aud Comm Member 0.10 0.20 X 0 0 0 501800 94567 0 false true false 0 30000 30000 Program Fees 900099 231272 231272 231272 6 6 0 0 0 0 0 0 0 Other income 900099 650 650 650 261928 231922 6 0 0 0 0 0 0 0 0 0 0 0 0 6900 6900 0 0 0 0 0 0 0 0 280730 266693 14037 0 0 0 0 0 0 0 Bank charges 10247 1650 8597 Equipment rental and maintenan 6310 5995 315 Bad debt and provision losses 4799 4799 Other expenses 1766 1766 0 310752 279137 31615 0 22652 20956 3626 2005 0 23485 19349 0 0 0 0 694 694 0 0 0 0 0 64766 4566 115223 47570 8062 4565 205460 190128 213522 194693 X -98299 -147123 -98299 -147123 115223 47570 -48824 X X false true X true false X 26000 50000 102537 102179 280716 231766 208693 206589 233947 231272 1112267 0 0 0 257766 208693 256589 336484 333451 1392983 0 0 1392983 5 2 2 2 6 17 0 5 2 2 2 6 17 0 15604 45 220 650 16519 257771 224299 256636 336706 334107 1409519 0.98830 0.98770 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Intercopmany receivable 4566 4566 INTERCOMPANY PAYABLE 172815 OTHER LIABILITIES 17313 190128 X 334107 72179 72179 261928 261928 382931 72179 72179 310752 310752 Part X : FIN48 Footnote BOC DEVELOPMENT CORPORATION is EXEMPT FROM INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. BOC DEVELOPMENT CORPORATION HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTIONS WHERE IT OPERATES. BOC DEVELOPMENT CORPORATION DOES NOT ANTICIPATE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE COMBINED FINANCIAL STATEMENTS. PERIODS ENDING JUNE 30, 2020 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. true false false false false false false false false false ELENA ZIKUSS CFO 144965 38283 183248 NANCY CARIN President 199500 34036 233536 RODNEY SANTIAGO Treasurer 157335 22248 179583 Form 990, Part VI, Section A, Line 7a THE BOARD OF DIRECTORS HAS ONE CLASS 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. 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 FILEDWITH 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 BOC DEVELOPMENT MAINTAINS 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 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 REVIEW 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 employment and business NY 501(C)(3) 170(B)(1)(A) NA false BOC Capital Corp 85 South Oxford Street Brooklyn NY 11217 113596666 To promote vitality and reduce unemploym NY 501(C)(3) 170(B)(1)(A) NA false false false true false false false false false false false false false false false false false true false false Business Outreach Center Network Inc q 201424 AMT RECEIVED BOC Capital Corp c 30000 ACTUAL AMOUNT