2024-12-12T10:04:17-06:00 2023-03-31 812950760 SAX LLP 389 INTERPACE PARKWAY STE 3 PARSIPPANY NJ 07054 990 2022-04-01 133790222 CREDIT INC CRED 7182923113 555 BERGEN AVENUE 3RD FLOOR BRONX NY 10455 MARK WILLIS BOARD CHAIR 7182923113 2024-12-12 1 0 MARQUS WHITE P00053187 9734726250 2024-12-12 2022 2024-10-15 13:58:12Z KAREN GEER 555 BERGEN AVENUE 3RD FLOOR BRONX NY 10455 0 0 X WWW.SOBRO.ORG X 1981 NY CREDIT INC. IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WHOSE MISSION IS TO INCREASE ACCESS TO CREDIT FOR SMALL BUSINESSES IN THE SOUTH BRONX THROUGH INNOVATIVE FINANCIAL PRODUCTS AND SERVICES AND TO ADVANCE THE ECONOMIC WELL-BEING OF RESIDENTS AND BUSINESSES THROUGH FINANCIAL LITERACY EDUCATION. 18 18 0 18 0 0 0 0 25000 0 0 0 0 0 25000 0 0 0 0 0 45564 4416 0 0 0 22805 38069 68369 42485 -43369 -42485 79171 78931 62605 104849 16566 -25918 X CREDIT INC'S PRIMARY FUNCTION IS TO FACILITATE CAPITAL AND FINANCIAL SERVICES FOR ORGANIZATIONS, MINORITY AND FEMALE ENTREPRENEURS AND OTHER BUSINESSES THAT, DUE TO THEIR LOCATION IN A DISTRESSED OR LOW-INCOME COMMUNITY, ARE NOT ADEQUATELY SERVED BY MAINSTREAM FINANCIAL INSTITUTIONS, THEREBY ENABLING THEM TO SUCCED AND THRIVE. 0 0 41746 0 THE PROCUREMENT AND TECHNICAL ASSISTANCE PROGRAM HELPED LOCAL BUSINESSES TO SECURE GOVERNMENT CONTRACTS. THE INDUSTRIAL DEVELOPMENT AND JOB CREATION PROGRAMS PROVIDE AN EXTENSIVE RANGE OF COMMERCIAL AND INDUSTRIAL BUSINESS INCENTIVES THROUGH PARTNERSHIPS WITH GOVERNMENT AGENCIES TO ATTRACT INVESTMENT AND INSURE THE EXISTING BUSINESSES CAN THRIVE. 41746 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 NY X KAREN MCGUINNESS 7182923113 555 BERGEN AVENUE 3RD FLOOR BRONX NY 10455 MARK L CASTLE BOARD CHAIR 1.00 2.30 X X 0 0 0 ARLINE PARKS VICE CHAIR 1.00 2.30 X X 0 0 0 KAREN MCGUINNESS VICE CHAIR 1.00 2.30 X X 0 0 0 ANTHONY M RICCIO JR SECRETARY 1.00 2.30 X X 0 0 0 MARK WILLIS TREASURER 1.00 2.30 X 0 0 0 TIFFANI HINDS BOARD MEMBER 1.00 2.30 X 0 0 0 MAYRA LINARES-GARCIA BOARD MEMBER 1.00 2.30 X 0 0 0 HUGH GRANT BOARD MEMBER 1.00 2.30 X 0 0 0 PLINIO AYALA BOARD MEMBER 1.00 2.30 X 0 0 0 LAUREN GEORGE BOARD MEMBER 1.00 2.30 X 0 0 0 WILLIAM BILL BOLLINGER BOARD MEMBER 1.00 2.30 X 0 0 0 CONOR MCCARTHY BOARD MEMBER 1.00 2.30 X 0 0 0 JENNIFER RIVERA BOARD MEMBER 1.00 2.30 X 0 0 0 PATRICIA NIA ROCK BOARD MEMBER 1.00 2.30 X 0 0 0 PRISCA SALAZAR-RODRIGUEZ BOARD MEMBER 1.00 2.30 X 0 0 0 LOURDES ZAPATA PRESIDENT & CEO 3.00 32.00 X 0 245053 38748 DELILAH TYSON CAO 3.00 32.00 X 0 135519 42 ROBBIN FINNEY-GRANSTON CFO 3.00 35.00 X 0 102985 19367 0 483557 58157 0 0 1 0 0 0 0 0 0 3462 3462 954 954 500 500 BAD DEBT 37330 37330 BANK FEES 239 239 42485 41746 739 0 4171 3931 75000 75000 14684 14684 0 0 79171 78931 62605 104849 62605 104849 X 16566 -25918 16566 -25918 79171 78931 -42485 0 X 0 1 X 1 0 X 45000 0 45000 50000 25000 0 75000 45000 50000 25000 120000 0 0 0 120000 200 200 200 200 9000 9000 54200 50000 25000 129200 0.92880 0.67360 0.00150 0.00200 X 14684 14684 0 0 DUE TO RELATED ORGANIZATION 104849 104849 X 0 0 0 0 0 42485 0 42485 0 42485 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS IN ACCORDANCE WITH ASC 740, UNCERTAINTY FOR INCOME TAXES AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. 0 0 0 0 0 0 0 0 0 LOURDES ZAPATA PRESIDENT & CEO 0 245053 0 0 0 0 0 27000 0 11748 0 283801 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT FOR REVIEW TO THE ORGANIZATION'S GOVERNING BOARD. THE BOARD REVIEWS THE 990 AND RECOMMENDS ANY CHANGES. THE BOARD THEN APPROVES THE FINAL RETURN BEFORE IT IS FILLED WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 18 CREDIT, INC'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 CREDIT, INC'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION B, LINES 12A, 12B, 12C, 13, 14 THE ORGANIZATION FOLLOWS THE POLICIES OF THE PARENT ORGANIZATION SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORP, HOWEVER, IT HAS NOT FORMALLY ADOPTED THEM AS ITS' POLICIES. SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT 555 BERGEN AVENUE BRONX NY 10455 132736022 DEVELOPMENT NY 501(C)(3) LINE 7 N/A 0 SOBRO DEVELOPMENT CORPORATION 555 BERGEN AVENUE BRONX NY 10455 133157572 DEVELOPMENT NY 501(C)(3) LINE 10 SBOED 0 SOBRO LOCAL DEVELOPMENT CORPORATION 555 BERGEN AVENUE BRONX NY 10455 132943228 DEVELOPMENT NY 501(C)(3) LINE 10 SBOED 0 BRONX NY EAST 188TH STREET APARTM 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY N/A N/A 0 0 BRONX NY EAST 188TH STREET LLC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY N/A N/A 0 0 BUFNY II ASSOCIATES LP 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY N/A N/A 0 0 JASMINE COURTS ASSOCIATES LLP 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY N/A N/A 0 0 LONGWOOD APARTMENTS LP 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY N/A N/A 0 0 WOODYCREST LP 555 BERGEN AVENUE BRONX NY 10455 030436382 DEVELOPMENT NY N/A N/A 0 0 EAST 188TH STREET APT HDFC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SOBRO DC C 0 EAST 188TH STREET APT INC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SOBRO DC C 0 JASMINE COURT HDFC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SBOEDC C 0 LONGWOOD APARTMENTS HDFC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SBOEDC C 0 SOBRO GATEWAY HDFC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SBOEDC C 0 SOBRO LENOX CORP 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SBOEDC C 0 SOBRO MONROE COURT HDFC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SOBRO DC C 0 WOODYCREST HDFC 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY SBOEDC C 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT E 104849 BOOK VALUE