2025-11-05T12:21:36-06:00 2024-12-31 873707167 CBIZ ADVISORS LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2024-01-01 133946529 RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION RENA 2129646022 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 THOMAS YU PRESIDENT/ED 2129646022 2025-11-04 1 1 MAGDALENA CZERNIAWSKI P00535099 2125038800 2025-11-04 2024 2025-03-06 01:10:19Z THOMAS YU 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 6112649 0 X WWW.RENAISSANCE-NY.ORG X 1997 NY RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION PROVIDES DIRECT FINANCING AND TECHNICAL ASSISTANCE SERVICES THROUGHOUT NEW YORK CITY. RENAISSANCE FOCUSES ON LOW-INCOME NEIGHBORHOODS WHERE THE BARRIERS OF LANGUAGE, CULTURE AND CONVENTIONAL LOAN UNDERWRITING HAVE STYMIED THE GROWTH OF SMALL BUSINESSES. UNDERPINNING ALL OF RENAISSANCE'S LENDING ACTIVITY IS A COMMITMENT TO INCREASE BUSINESS OPPORTUNITIES FOR LOW-INCOME ENTREPRENEURS. 9 8 39 8 0 0 2862492 4797541 1067625 1098518 60781 138894 116695 -25976 4107593 6008977 0 0 0 0 2947165 3201422 0 0 394095 2176368 2383661 5123533 5585083 -1015940 423894 32593576 33742646 14054443 14779619 18539133 18963027 X RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION PROVIDES DIRECT FINANCING AND TECHNICAL ASSISTANCE SERVICES THROUGHOUT NEW YORK CITY. RENAISSANCE FOCUSES ON LOW-INCOME NEIGHBORHOODS WHERE THE BARRIERS OF LANGUAGE, CULTURE AND CONVENTIONAL LOAN UNDERWRITING HAVE STYMIED THE GROWTH OF SMALL BUSINESSES. UNDERPINNING ALL OF RENAISSANCE'S LENDING ACTIVITY IS A COMMITMENT TO INCREASE BUSINESS OPPORTUNITIES FOR LOW-INCOME ENTREPRENEURS. 0 0 2516308 1098518 SMALL BUSINESS LOANS PROGRAM - REDC LENDS MONEY TO SMALL BUSINESSES IN ITS TARGET COMMUNITIES. MANY OF THESE SMALL BUSINESS BORROWERS OPERATE BUSINESS IN THE RETAIL, WHOLESALE, RESTAURTANT, AND CERTAIN PERSONAL SERVICE INDUSTRIES WITH THEIR PRIMARY BUSINESS OPERATIONS LOCATED IN NEW YORK CITY. 1876345 0 TECHNICAL ASSISTANCE & EDUCATION - REDC PROVIDES TARGETED TECHNICAL ASSISTANCE TO LOW INCOME ENTREPRENEURS & SMALL BUSINESS OWNERS, HELPING THEM TO OVERCOME TRADITIONAL IMPEDIMENTS TO BUSINESS GROWTH AND SUCCESS. REDC SPECIALIZES IN SERVICING BUSINESSES IN ITS TARGET MARKETS THAT BANKS AND GOVERNMENT PROGRAMS CANNOT SERVE, SUCHAS LOW INCOME, START-UP, THINLY CAPITALIZED ENTERPRISES WHOSE OWNERS ARE OFTEN HOBBLED BY POOR OR NON-EXISTENT ENGLISH SKILLS AND UNFAMILIARITY WITH THE BANKING SYSTEM IN THIS COUNTRY. 4392653 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 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 0 0 0 1 13 0 1 39 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X THOMAS YU PRESIDENTED 2129646022 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 CONNIE LEE BOARD MEMBER 1.00 X 0 0 0 GIGI LAU GILSINAN BOARD MEMBER 1.00 X 0 0 0 KYLE FOLEY BOARD MEMBER 0.30 X 0 0 0 MICHAEL FONG BOARD MEMBER 1.00 X 0 0 0 MICHAEL LEE BOARD MEMBER 1.00 X 0 0 0 PEGGY CHAN TREASURER (OUTGOING) 0.30 X X 0 0 0 RAYMOND LOU SECRETARY (OUTGOING) 1.00 X X 0 0 0 THOMAS YU PRESIDENT/EXECUTIVE DIRECTOR 1.00 39.00 X X 0 284107 61872 TIMOTHY WONG BOARD MEMBER 1.00 X 0 0 0 TONY LIN BOARD MEMBER 1.00 X 0 0 0 TURNEY SINGH BABA TREASURER 1.00 X X 0 0 0 JESSIE LEE MANAGING DIRECTOR 35.00 5.00 X 203168 0 30771 JOY SUZANNE GRANADO CHIEF ACCOUNTING OFFICER (OUTGOING) 1.00 37.00 X 0 175272 21446 MARY LIU DEPUTY MANAGING DIRECTOR 40.00 X 141571 0 67634 JANNIE LAI DIRECTOR OF PROGRAMS 40.00 X 115576 0 54769 SOCORRO MARIA CORONA PLEASE PROVIDE TITTLE 40.00 X 100327 0 0 560642 459379 236492 4 0 1 0 0 4082291 715250 4797541 LOAN INTEREST 900099 793331 793331 ADMIN. FEE AND OTHER 541900 305187 305187 1098518 138894 138894 77696 103672 -25976 -25976 -25976 6008977 1098518 0 112918 443143 147113 165560 130470 2149115 1816247 214698 118170 63990 56813 5345 1832 320757 295285 23952 1520 224417 176259 31177 16981 218994 92376 42339 84279 63331 38542 19872 4917 462686 281582 145178 35926 51220 43522 7698 210125 178543 31582 195216 195216 32637 19656 12981 223354 192498 30856 61319 52103 9216 43409 36885 6524 BAD DEBTS 741128 741128 OTHER EXPENSES 46248 46248 MISCELLANEOUS 27340 23231 4109 EQUIPMENT RENTAL 6654 5654 1000 5585083 4392653 798335 394095 5486266 5226452 562449 1032214 8502252 10644542 60535 24237 1113481 804770 1229151 308711 16752923 16506490 32593576 33742646 607511 565771 3727601 2652885 6713493 8560963 3000000 3000000 5838 0 14054443 14779619 X 16399071 17480226 2140062 1482801 18539133 18963027 32593576 33742646 423894 0 X X 0 1 X 1 1 1 X 5787757 4494801 3866453 2862492 4797541 21809044 5787757 4494801 3866453 2862492 4797541 21809044 2526415 19282629 69773 28524 63372 226221 138894 526784 22335828 4768431 0.86330 0.84390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 808560 542608 265952 103810 79646 24164 201111 182516 18595 308711 DUE FROM AFFILIATES 1759843 LENDING CAPITAL INCLUDING LOAN LOSS RESERVE 6669926 RESTRICTED CASH 5958772 CREDIT LOSS RESERVE 1256909 REAL ESTATE HELD FOR SALE 861040 16506490 X 6112649 0 6112649 -103672 -103672 6008977 5688755 103672 103672 5585083 0 5585083 PART X, LINE 2: REDC BELIEVES IT HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION TOPIC 740, INCOME TAXES, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSE ON SUBLEASE OFFSET AGAINST RENT INCOME -103,672. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSE ON SUBLEASE OFFSET AGAINST RENT INCOME 103,672. X X 0 0 0 0 0 0 0 0 0 THOMAS YU PRESIDENT/EXECUTIVE DIRECTOR 0 284107 0 0 0 0 0 9895 0 51977 0 345979 0 0 JESSIE LEE MANAGING DIRECTOR 203168 0 0 0 0 0 10116 0 20655 0 233939 0 0 0 MARY LIU DEPUTY MANAGING DIRECTOR 141571 0 0 0 0 0 5402 0 62232 0 209205 0 0 0 JOY SUZANNE GRANADO CHIEF ACCOUNTING OFFICER (OUTGOING) 0 175272 0 0 0 0 0 6313 0 15133 0 196718 0 0 JANNIE LAI DIRECTOR OF PROGRAMS 115576 0 0 0 0 0 5589 0 49180 0 170345 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS ASIAN AMERICAN FOR EQUALITY. FORM 990, PART VI, SECTION A, LINE 7A ASIAN AMERICANS FOR EQUALITY, INC., BEING THE SOLE MEMBER, IS ENTITLED TO APPOINT THE DIRECTORS; PROVIDED, HOWEVER, THAT IN THE EVENT THAT ADDITIONAL PERSONS ARE ACCEPTED AS MEMBERS OF THE CORPORATION PURSUANT TO SECTION 2.2 OF THE ORGANIZATION'S BY-LAWS, THE NUMBER OF DIRECTORS TO BE APPOINTED BY EACH MEMBER MAY BE REAPPORTIONED BY A FAVORABLE ACTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING CORPORATE ACTIONS MAY NOT BE TAKEN WITHOUT THE APPROVAL OF THE MEMBERS: (1) ANY AMENDMENT OF OR CHANGE TO THE CERTIFICATE OF INCORPORATION OR (2) A PETITION FOR JUDICIAL DISSOLUTION; (3) DISPOSING OF ALL, OR SUBSTANTIALLY ALL, OF THE ASSETS OF THE CORPORATION, (4) APPROVAL OF A PLAN OF MERGER, (5) AUTHORIZATION OF A PLAN OF NON-JUDICIAL DISSOLUTION, OR (6) REVOCATION OF A VOLUNTARY DISSOLUTION PROCEEDING. (7) REMOVE ANY DIRECTOR ANY TIME WITH OR WITHOUT CAUSE BY VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT. AT LEAST 7 DAYS PRIOR TO FILING, THE ORGANIZATION DISTRIBUTES A DRAFT FORM 990 TO THE BOARD FOR REVIEW. FIVE DAYS ARE ALLOWED FOR FEEDBACK, THROUGH THE BOARD TREASURER, BEFORE FORM 990 IS FINALIZED AND FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO THE BOARD FOR THEIR RECORDS. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND OFFICERS ARE ISSUED WITH A COPY OF THE CURRENT CONFLICT OF INTEREST POLICY ON APPOINTMENT AND ANNUALLY THEREAFTER. DIRECTORS AND OFFICERS COMPLETE ANNUAL DECLARATIONS TO EITHER CONFIRM NO CONFLICTS OR INDENTIFY POSSIBLE AND/OR ACTUAL CONFLICTS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST TO ANY BOARD MEMBER. THESE DOCUMENTS ARE MAINTAINED AT THE ORGANIZATION'S REGISTERED OFFICE. FORM 990, PART XI, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 4 NYC HOUSING INC 141 NORFOLK STREET NEW YORK NY 10002 821711103 PROMOTE COMMON GOOD AND WELFARE AND ECONOMIC DEVELOPMENT IN NEW YORK NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 AAFE COMMUNITY DEVELOPMENT FUND INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 134103352 PROVIDES TECHNICAL ASSISTANCE AND AFFORDABLE SECOND MORTAGEGE LOANS NY 501(C)(3) LINE 7 ASIAN AMERICANS FOR EQUALITY INC 0 AAFE FAIR HOUSING CENTER INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 133943782 LEASE OFFICE SPACE IN THE JACKSON HEIGHTS NEIGHBORHOOD OF QUEENS NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 AAFE NEW AMERICANS OPPORTUNITY FUND INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 814698636 PROMOTE COMMON GOOD AND WELFARE AND ECONOMIC DEVELOPMENT IN NEW YORK NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 ASIAN AMERICAN HOUSING DEVELOPMENT 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