2026-04-10T23:07:19-05:00 2025-06-30 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2024-07-01 133079387 Bronx Overall Economic Development Corporation % ANGELY ORBE BRON 7185906201 851 Grand Concourse Suite 123 Bronx NY 104512937 Winston Peters Interim PRESIDENT 7185906201 2026-04-07 true true Catherine Bendall P00521196 7328281614 2026-04-07 2024 2025-03-06 01:10:19Z Winston Peters 851 Grand Concourse123 Bronx NY 104512937 59633346 false X www.BXEDC.org X 1981 NY The Bronx Overall Economic Development Corporation ("BXEDC")assists bronx Businesses to expand and to encourage start-up or relocation to Bronx County. 17 15 25 150 0 1996737 2569337 20041 98918 796714 826658 3042 420 2816534 3495333 1125650 336447 0 0 1342260 1406668 0 0 345690 1368550 1910658 3836460 3653773 -1019926 -158440 26267663 26457812 490089 866891 25777574 25590921 X BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION (THE "CORPORATION") IS A NEW YORK NONPROFIT ORGANIZATION, ORGANIZED IN 1981. THE CORPORATION WAS ESTABLISHED TO PROMOTE ECONOMIC GROWTH IN THE BRONX, NEW YORK BY PROVIDING LOANS AND GRANTS TO BUSINESSES LOCATED IN THE BRONX, CONSULTING SERVICES TO PRESENT AND FUTURE COMPANIES, AND ON-THE-JOB TRAINING. THE CORPORATION IS FUNDED PRIMARILY THROUGH GOVERNMENTAL AND FOUNDATION GRANTS AND CONTRIBUTIONS. false false 1107764 500 98918 Economic Development - Under this program, the Corporation performs research and analysis regarding current economic developments, marketing, and promotion of the Bronx through various media channels, ensuring that local businesses, investors, and residents are informed about opportunities within the borough. As the administrator of the Bronx Empowerment Zone, the Corporation actively supports businesses by providing real estate assistance, helping Bronx-based companies expand their operations, and facilitating the relocation of businesses looking to establish a presence in the Bronx. This includes site selection, navigating zoning and land use policies, and liaising with city agencies to streamline the expansion process. Additionally, the Corporation offers financial services information and assistance, helping businesses secure capital through a variety of loan programs, including the SBA 7(a) loan program, Bronx Empowerment Zone loan funds, and other small business lending initiatives. By leveraging partnerships with financial institutions and economic development agencies, the Corporation ensures that Bronx businesses, particularly minority- and women-owned enterprises (MWBEs), gain access to critical funding for growth, job creation, and operational sustainability. Beyond financing, the Corporation provides technical commercial revitalization assistance, working closely with Business Improvement Districts (BIDs) and local merchant associations to strengthen commercial corridors and improve the business environment. This includes storefront improvement programs, public space enhancements, and placemaking initiatives to support thriving retail districts. The Corporation also plays a vital role in fostering entrepreneurship by offering entrepreneurial assessment services, business development workshops, and technical assistance to new and existing business owners, helping them refine their business models, access capital, and develop sustainable growth strategies. As part of its broader economic development mission, the Corporation administers key workforce development and job creation initiatives, collaborating with local institutions to connect Bronx residents with employment opportunities. Programs are designed to ensure that businesses benefiting from financial assistance are reinvesting in the local economy by hiring Bronx-based workers. The Corporation's efforts are supported through a combination of city, state, and federal funding, as well as private sector investments and nonprofit collaborations, ensuring ongoing economic growth, business expansion, and long-term sustainability for the Bronx. 715133 323946 Empowerment zone - The Empowerment Zone program includes the operation of two loan programs for qualified Bronx Empowerment Zone companies. The Corporation is the administrator of the Bronx portion of the New York City Empowerment Zone. This program was a part of the President's Empowerment Zone and Enterprise Community Initiative. The goals of the program within the Bronx are economic development, sustainable community development, the development of community-based partnerships, and the development of a strategic vision of change. The Empowerment Zone programs offer loans at low interest rates and long repayment terms in exchange for the borrower's commitment to hire Bronx Empowerment Zone residents. The partners in this enterprise and the entities funding the program are the City of New York, the New York State Urban Development Corporation (doing business as the Empire State Development Corporation) ("ESDC"), and the United States Department of Housing and Urban Development. Fundamental to achieving the program's goal is the creation of permanent jobs through business development within the target zones. The legislation that supported the Empowerment Zones ended on December 31, 2013; however, the funding received under this program continues to be used to provide the same loan programs. In addition to these programs, the Small Business Administration (SBA) 7(a) Loan Program has become an essential tool for expanding access to capital, offering flexible financing options to small businesses within the Bronx Empowerment Zone. As part of an effort to strengthen and expand these initiatives, a Director of the Empowerment Zone has been hired to oversee operations, ensure effective allocation of funds, and enhance strategic partnerships that support economic growth and job creation within the borough. 983490 62001 The Bronx Tourism Council was established in 1992 to collaborate with governmental and nongovernmental organizations to promote tourism in the Bronx and showcase the borough's diverse attractions. Through strategic partnerships and community engagement, the Council highlights the Bronx as a premier destination for both visitors and residents. A signature initiative is Bronx Week, an annual celebration that honors the Bronx's history, culture, and contributions to the arts, business, and civic life. A key feature of Bronx Week is the Bronx Walk of Fame, which recognizes distinguished individuals who have made a lasting impact.To enhance this tradition, the Council is launching the Bronx Walk of Fame mobile app in 2025, offering an interactive way for users to explore the borough's most celebrated figures and landmarks. Other major events include Tour de Bronx, New York State's largest free cycling event, which brings riders from across the region to explore the borough's scenic and historic routes, and Savor the Bronx, an annual restaurant week that showcases the Bronx's growing culinary scene, from classic eateries to emerging gastronomic hotspots. The Council also engages in media-driven initiatives to further promote the Bronx's unique offerings. The Bronx Beat serves as a platform to highlight attractions, businesses, and organizations throughout the borough, while The Bronx Beat with 1010 WINS covers the latest developments, events, and cultural milestones, amplifying the Bronx's presence on a broader stage. Throughout the year, the Council supports various cultural and ethnic celebrations, fostering a sense of community and ensuring that the Bronx's diversity, vibrancy, and heritage remain at the forefront of its tourism efforts. to highlight attractions, businesses, and organizations throughout the borough, while The Bronx Beat with 1010 WINS covers the latest developments, events, and cultural milestones, amplifying the Bronx's presence on a broader stage. Throughout the year, the Council supports various cultural and ethnic celebrations, fostering a sense of community and ensuring that the Bronx's diversity, vibrancy, and heritage remain at the forefront of its tourism efforts. 2806387 true true false false false false false false false false true false false false true true true false false false false false false false true false false true false true false false false true false false false false true false false false false false false false false true 49 0 true 25 true false false false false false true true false false false false false false X 17 15 false false false false false false false true true false false true true true true true true true true false NY X ANGELY ORBE 7185906201 851 GRAND CONCOURSE BRONX NY 10451 Robert Walsh President 40.0 0.0 X X 230000 0 0 Angely Orbe Chief Financial Officer 40.0 0.0 X 130000 0 13816 Rafael Roger Board Member 1.0 0.0 X 20000 0 0 Clarence Stanley Jr Chairman 1.0 0.0 X X 0 0 0 Kathy Zamechansky Vice Chair 1.0 0.0 X X 0 0 0 Julio E Reyes Jr Board Member 1.0 0.0 X 0 0 0 Brian Smith Board Member 1.0 0.0 X 0 0 0 Winston Peters Board Member 1.0 0.0 X 0 0 0 Phillip Grant Board Member 1.0 0.0 X 0 0 0 Nallely De Jess Board Member 1.0 0.0 X 0 0 0 Lourdes Zapata Board Member 1.0 0.0 X 0 0 0 Yesenia Quinones Board Member 1.0 0.0 X 0 0 0 Eddy Bayardelle PhD BOARD MEMBER 1.0 0.0 X 0 0 0 Dan Herdoon Secretary 1.0 0.0 X X 0 0 0 Patricia Simone Board Member 1.0 0.0 X 0 0 0 Dr Susan L Parish Board Member 1.0 0.0 X 0 0 0 Kevin Kim Board Member 1.0 0.0 X 0 0 0 Vanessa L Gibson Board Member 1.0 0.0 X 0 0 0 380000 0 13816 2 false true false 0 209437 1778908 580992 56879 2569337 INTEREST INCOME - LOANS 525990 89750 89750 LOAN AND COMMITTMENT FEES 525990 9168 9168 98918 66 66 0 0 0 0 0 56717112 55890520 826592 826592 826592 247493 209437 247493 0 0 0 0 0 0 0 0 OTHER INCOME 525990 420 420 420 3495333 99338 826658 X 336447 336447 0 0 0 403239 292348 110891 0 809549 412168 300101 97280 0 106954 67800 29492 9662 86926 51286 28686 6954 0 8566 8566 36630 13986 22644 0 0 0 520906 463995 56911 261538 228859 32679 257073 192380 7997 56696 0 0 38187 37352 835 0 0 50535 28969 21566 0 0 12442 12442 47119 42627 1885 2607 BAD DEBT 158092 97592 60500 COMMUNITY EVENTS 519570 519570 3653773 2806387 501696 345690 X 882289 483677 1725745 1708134 863957 1202748 206287 173173 175000 1021250 0 0 770238 1040914 0 0 25469 26216 184767 171895 174269 12872 21399229 20749342 0 0 0 0 0 0 45180 39486 26267663 26457812 274391 667043 0 0 0 0 0 0 0 0 0 0 811 811 0 0 214887 199037 490089 866891 X 3779761 3350057 21997813 22240864 25777574 25590921 26267663 26457812 X -158440 123314 -151527 X false true X true false X 1848260 1311343 1450339 1996737 2470697 9077376 0 278064 183116 184040 178880 179274 1003374 2126324 1494459 1634379 2175617 2649971 10080750 5667 10075083 115510 16392 382 78 66 132428 0 0 0 0 3042 420 3462 10216640 215893 0.98614 0.96238 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 184767 171895 12872 12872 0 LEASE LIABILITY 35981 REFUNDABLE ADVANCES 163056 199037 X 3646394 123314 179274 -151527 151061 3495333 3495333 3833047 179274 179274 3653773 3653773 Form 990, Schedule D, Part X, Line 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FROM NEW YORK STATE INCOME TAXES UNDER APPLICABLE STATE LAW. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN RECORDED IN THE STATEMENTS OF ACTIVITIES. MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AT THE CORPORATION AS OF JUNE 30, 2025 AND 2024. IN ADDITION, THE CORPORATION HAS NO INCOME TAX RELATED PENALTIES OR INTEREST FOR THE PERIODS REPORTED IN THESE FINANCIAL STATEMENTS. Form 990, Schedule D, Part XI, line 4b Included in revenue on the audited financial statements was a loss of $(151,527) for the transfer of equipment. This has been adjusted for the recognition in the Form 990 and treated as an other adjustment to net assets. BRONX EVENT 456930 209437 247493 74131 140945 32417 0 456930 209437 247493 74131 140945 32417 247493 true Danice Stores Inc 2883 3rd Avenue Bronx NY 10455 223859294 27790 Economic assistance DUGOUTBX 2 LLC 880 River Ave Bronx NY 10452 920318642 180000 Economic assitance Fix It With Piggy 2501 Grand Concourse 3rd Floor Bronx NY 10468 923996822 10000 Economic assistance 16 FFI LLC 16 E 167th St Bronx NY 10456 881914373 33312 Economic assistance Key Food 881 Stadium Food Corp 885 Gerard Ave Bronx NY 10452 824216150 58608 Economic assistance FPJ Amusements & Entertainment Services 467 East 156th Street Bronx NY 10455 262592972 11484 Community event South Bronx United Inc PO Box 1267 Bronx NY 10451 264064041 501(C)(3) 24236 Economic assistance 1 6 PART I, LINE 2: BXEDC MONITORS EACH GRANT IN THREE WAYS: 1) SITE VISITS ARE MADE BEFORE GRANTS ARE APPROVED, AND THEN WHEN REQUESTS FOR PAYMENTS ARE MADE, IN ORDER TO ENSURE THAT THE EXPENDITURE FOR WHICH THE GRANT HAS BEEN APPROVED HAS IN FACT BEEN, OR IS AT LEAST IN THE PROCESS OF, BEING INCURRED 2), IN SOME CASES, WHERE AN INITIAL DEPOSIT PAYMENT IS MADE (AND THIS IS ONLY WHERE IT HAS BEEN DEMONSTRATED THAT SUCH AN INITIAL DEPOSIT PAYMENT IS NEEDED, AND SO IT IS INTENDED, TO GET THE PROJECT STARTED) ALL REQUESTS FOR PAYMENT INCLUDE A CERTIFICATION BY THE PROJECT-MANAGER FOR THE GRANTEE THAT CERTIFIES THAT THE REQUESTED PAYMENT IS PROPERLY FOR GRANT-RELATED EXPENDITURE(S), AND THE PAYMENT REQUEST ALSO INCLUDES SUPPORTING DOCUMENTATION AS TO THIS; AND 3) PAYMENTS ARE PREFERABLY AND GENERALLY MADE ONLY DIRECTLY TO THE VENDORS, AND WHERE THEY ARE MADE TO THE GRANTEES THIS IS DONE ONLY UPON THE RECEIPT BY BOEDC OF INVOICES THAT HAVE ALREADY BEEN PAID (AS CONFIRMED THROUGH A SITE VISIT). X X false false false false false false false false false Robert Walsh President 230000 0 0 0 0 0 0 0 0 0 230000 0 0 0 The Business Ini Corp of NY Affl Line of Credit Agree X 1021250 1021250 false true true 1021250 X Sports tickets given away at community events 400 50000 retail value X Event Supplies 4000 6879 retail value false false false Form 990, Part VI, Section B, Line 11B: THE DRAFT OF THE FORM 990 WILL BE PROVIDED TO THE EXECUTIVE COMMITTEE FOR THEIR REVIEW AND APPROVAL. A FINAL COPY WILL BE DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING THE FORM 990. Form 990, Part VI, Section B, Line 12C: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VI, Section B, Line 15: A BUDGET IS PREPARED BY THE FISCAL DEPARTMENT, WHICH INCLUDES THE EXECUTIVE DIRECTOR'S AND OFFICERS' COMPENSATION, AND IS ULTIMATELY APPROVED BY THE BOARD OF DIRECTORS. Form 990, Part VI, Section C, Line 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTANTS TOTAL FEES:492415 FORM 990 PART IX LINE 11G DESCRIPTION:PR PROCESSING TOTAL FEES:28491