2026-07-01T09:24:00-05:00 2023-06-30 334358135 SAX ADVISORS LLC 389 INTERPACE PARKWAY STE 3 PARSIPPANY NJ 07054 990 2023-04-01 132736022 SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION SOUT 7182923113 555 BERGEN AVENUE 3RD FLOOR BRONX NY 10455 JASON GARCIA EXECUTIVE DIRECTOR 7182923113 2026-07-01 1 0 MARQUS WHITE P00053187 9734726250 2026-06-30 2023 2025-03-06 01:10:19Z JASON GARCIA 555 BERGEN AVENUE 3RD FLOOR BRONX NY 10455 5349808 0 X WWW.SOBRO.ORG X 1972 NY TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL AND CAREER DEVELOPMENT PROGRAMS. 15 15 0 15 0 0 8107994 5265455 738728 84353 12506 0 1199 0 8860427 5349808 0 0 0 0 6115534 827586 0 0 77678 4552196 1991152 10667730 2818738 -1807303 2531070 10232191 7073569 6420456 5993984 3811735 1079585 X OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL, AND CAREER DEVELOPMENT PROGRAMS FOR YOUTH AND ADULTS. SOBRO WAS FOUNDED IN 1972 BY A GROUP OF BUSINESS EXECUTIVES AND COMMUNITY LEADERS. OUR TASK WAS URGENT: REVERSE THE FLIGHT OF BUSINESSES AND JOBS FROM THE SOUTH BRONX. IT WAS THE FIRST AND MOST FUNDAMENTAL STEP TOWARD REBUILDING A COMMUNITY WHOSE NAME EVOKED IMAGES OF BURNED BUILDINGS, CRIME, POVERTY AND DRUGS. BUT AS SOBRO BEGAN TO EVOLVE, IT BECAME CLEARER THAT COMMUNITY REVITALIZATION REQUIRED A MULTI-FACETED EFFORT. TODAY, WE ADDRESS ALL ASPECTS OF COMMUNITY DEVELOPMENT: ASSISTING BUSINESSES TO GET STARTED AND GROW, TRAINING RESIDENTS ACCORDING TO THE NEEDS OF EMPLOYERS, OFFERING OPPORTUNITIES FOR YOUTH TO LEARN AND DEVELOP, AND CREATING AFFORDABLE HOUSING AND COMMERCIAL SPACES THAT REVERSE BLIGHT IN THE COMMUNITY. 0 0 1156392 THE YOUTH DEVELOPMENT AND EDUCATION DEPARTMENT PROVIDED AFTER-SCHOOL SUMMER YOUTH EMPLOYMENT, AND OUT-OF-SCHOOL YOUTH SERVICES TO 2,100 YOUNG PEOPLE BETWEEN THE AGES OF 5 AND 24. IN-SCHOOL AND AFTER-SCHOOL PROGRAMS ASSISTED A TOTAL OF 1,040 ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS WITH HOMEWORK AND TUTORING, COLLEGE PREPARATION, ARTS AND CULTURAL ACTIVITIES, AND LEADERSHIP DEVELOPMENT. ADDITIONALLY, SUMMER INTERNSHIPS WERE PROVIDED TO OVER 700 YOUTH THROUGH OUR SYEP PROGRAM AND 179 FOR SYEP/WLH PROGRAM DURING THE WINTER. PARTICIPANTS WERE PROVIDED ACADEMIC SUPPORT, CAREER AWARENESS TRAINING, WORK SKILLS DEVELOPMENT, AND LEADERSHIP TRAINING. THE SOBRO TRANSFORMATION ACADEMY, WHICH IS A COMBINATION OF THE YOUTHBUILD PROGRAM AND YOUNG ADULT JUSTICE SCHOLARS PROGRAM, SERVES AT-RISK YOUNG ADULTS TO EARN THEIR HSE AND OBTAIN POST-SECONDARY EDUCATION/JOB PLACEMENT. 358604 84353 SOBRO HAS MORE THAN TWO DECADES OF EXPERIENCE DEVELOPING AND MANAGING COMMERCIAL AND RESIDENTIAL PROPERTIES, EVIDENCED BY OUR PORTFOLIO OF OVER 450 UNITS OF AFFORDABLE AND MARKET RATE HOUSING AND OVER 120,000 SQUARE FEET OF COMMERCIAL, INDUSTRIAL, AND OFFICE SPACE IN THE BRONX AND UPPER MANHATTAN. SOBRO'S HOUSING DEVELOPMENT EFFORTS INCLUDE REHABILITATING EXISTING BUILDINGS AND CREATING NEW BUILDINGS IN VACANT SPACE TO TRANSFORM BLIGHTING INFLUENCES INTO BEAUTIFUL AND VIABLE SPACES FOR LIVING AND WORKING. ONE OF SOBRO'S GOALS AND PART OF OUR COMPREHENSIVE STRATEGY FOR COMMUNITY DEVELOMENT IS TO INCREASE THE AVAILABILITY OF RENTAL HOUSING FOR LOW AND MODERATE-INCOME FAMILIES. TO THIS END, WE BUILD NEW HOUSING, REHABILITATE VACANT PROPERTIES, AND PREVENT DETERIORATING HOUSING STOCK FROM BECOMING ABANDONED. 58206 IN FY2023, SOBRO PROVIDED CAREER DEVELOPMENT SERVICES TO HUNDRED OF INDIVIDUALS, PLACING THEM INTO EMPLOYMENT AND DELIVERING JOB-READINESS TRAINING, WHICH INCLUDED A CUSTOMER SERVICE TRAINING COMPONENT AND NATIONALLY RECOGNIZED CERTIFICATION IN CUSTOMER SERVICE. SOBRO'S OUTCOMES FOR ADULT EDUCATION CLASSES HAVE CONSISTENTLY SURPASSED PROGRAM EVALUATION TARGETS. 525519 ALL OTHER PROGRAMS 525519 2098721 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 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 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X JASON GARCIA 7182923113 555 BERGEN AVENUE 3RD FLOOR BRONX NY 10455 X X 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 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 32.00 3.00 X 0 0 0 ROBBIN FINNEY-GRANSTON SVP PROGRAMS 32.00 3.00 X 0 0 0 DELILAH TYSON CAO 32.00 3.00 X 0 0 0 0 0 0 0 0 0 0 0 5220455 45000 5265455 MANAGEMENT FEES 531110 69872 69872 RENTAL REVENUE 531110 14481 14481 84353 5349808 84353 0 0 X 150193 71808 76305 2080 269047 240507 19932 8608 393021 309766 74925 8330 15325 12084 2917 324 102395 81915 18432 2048 71050 56840 12789 1421 988117 790492 177863 19762 8868 7095 1596 177 19065 15252 3432 381 383902 216553 143131 24218 33237 26589 5983 665 13235 13235 788 788 321823 257459 57928 6436 REPAIRS AND MAINTENANCE 20242 195 18443 1604 MISCELLANEOUS 20101 5515 13127 1459 EQUIPMENT RENTAL 4037 3231 726 80 DUES AND SUBSCRIPTIONS 3659 2928 658 73 633 492 129 12 2818738 2098721 642339 77678 533820 791 1515040 3856165 2764 8331057 6807049 1431297 1524008 6752034 1689841 10232191 7073569 3125953 3037356 2518973 1583687 655396 1327807 120134 45134 6420456 5993984 X 3811735 1079585 3811735 1079585 10232191 7073569 X 2531070 876904 -6140124 X 0 1 X 1 0 X 8496168 7254296 10608055 8107994 5265455 39731968 8496168 7254296 10608055 8107994 5265455 39731968 39731968 1 264 119 74 458 1525323 185501 361386 1199 2073409 41805835 3522687 0.95040 0.95020 X PART II CURRENT YEAR THE INFORMATION REPORTED IN THE CURRENT YEAR COLUMN IS FOR THE SHORT YEAR FROM 4/1/23 TO 6/30/23. THE SHORT YEAR RETURN IS BEING FILED DUE TO A CHANGE IN ACCOUNTING PERIOD. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7355446 6052352 1303094 12350 10428 1922 963261 744269 218992 1524008 DUE FROM AFFILIATES 1689841 1689841 SECURITY DEPOSIT 45134 45134 X 5349808 0 5349808 0 5349808 2818738 0 2818738 0 2818738 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. EAST 188TH STREET APT. HOUSING DEVELOPMENT FUND CORPORATION, JASMINE COURT HOUSING DEVELOPMENT CORP., SOBRO LENOX CORP., AND WOODYCREST HOUSING DEVELOPMENT FUND CORP. ARE ALL TAX-EXEMPT CORPORATIONS. THESE ENTITIES ARE SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THESE ENTITIES FILE TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. 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. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 IS REVIEWED BY MANAGEMENT. ONCE IT IS FILED, THE 990 IS THEN SHARED WITH THE BOARD AT THE NEXT MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE PRESIDENT REVIEWS THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRES WHICH ARE REQUIRED TO BE SIGNED BY ALL BOARD MEMBERS AND EMPLOYEES INCLUDING DIRECTORS, KEY EMPLOYEES AND OFFICERS. THE PRESIDENT REPORTS ANY CONFLICTS TO THE BOARD CHAIRMAN. IF A CONFLICT EXISTS THE PARTY MUST EXCUSE THEMSELVES FROM DELIBERATIONS. FORM 990, PART VI, SECTION C, LINE 19 SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PART VII - REPORTABLE COMPENSATION THE ORGANIZATION PAYS COMPENSATION TO OFFICERS AND OTHER EMPLOYEES OF THE ORGANIZATION. BECAUSE THIS IS A SHORT PERIOD RETURN, COMPENSATION FOR THOSE INDIVIDUALS WILL BE REPORTED ON THE FORM 990 FOR THE FISCAL YEAR ENDED 6/30/24. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 243,009. MANAGEMENT AND GENERAL EXPENSES 54,679. FUNDRAISING EXPENSES 6,074. TOTAL EXPENSES 303,762. CONTRACTORS: PROGRAM SERVICE EXPENSES 547,483. MANAGEMENT AND GENERAL EXPENSES 123,184. FUNDRAISING EXPENSES 13,688. TOTAL EXPENSES 684,355. FORM 990, PART XI, LINE 9: BAD DEBT RECOVERY -6,140,124. CREDIT INC 555 BERGEN AVENUE BRONX NY 10455 133790222 FINANCIAL SVC NY LINE 7 SBOED 1 SOBRO DEVELOPMENT CORPORATION 555 BERGEN AVENUE BRONX NY 10455 133157572 DEVELOPMENT NY LINE 10 SBOED 1 SOBRO LOCAL DEVELOPMENT CORPORATION 555 BERGEN AVENUE BRONX NY 10455 132943228 DEVELOPMENT NY LINE 10 SBOED 1 BRONX EAST 188TH STREET APARTMENTS 555 BERGEN AVENUE BRONX NY 10455 DEVELOPMENT NY N/A N/A 0 0 BRONX NY EAST 188TH STREET APT 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 SBOED EXCLUDED 0 0 0.01000 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 452942756 DEVELOPMENT NY N/A C 0 EAST 188TH STREET APT INC 555 BERGEN AVENUE BRONX NY 10455 453621216 DEVELOPMENT NY N/A C 0 JASMINE COURT HOUSING DEVELOPMENT FUND C 555 BERGEN AVENUE BRONX NY 10455 043728665 DEVELOPMENT NY SBOEDC C 1.00000 1 LONGWOOD APARTMENTS HOUSING DEVELOPMENT 555 BERGEN AVENUE BRONX NY 10455 141858572 DEVELOPMENT NY SBOEDC C 1.00000 1 SOBRO GATEWAY HDFC 555 BERGEN AVENUE BRONX NY 10455 204869334 DEVELOPMENT NY SBOEDC C 1.00000 1 SOBRO LENOX CORP 555 BERGEN AVENUE BRONX NY 10455 432072406 DEVELOPMENT NY SBOEDC C 1.00000 0 SOBRO MONROE COURT HOUSING DEVELOPMENT FUND CORP 555 BERGEN AVENUE BRONX NY 10455 453853200 DEVELOPMENT NY N/A C 0 WOODYCREST HOUSING DEVELOPMENT FUND CORP 555 BERGEN AVENUE BRONX NY 10455 562364943 DEVELOPMENT NY SBOEDC C 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 SOBRO LOCAL DEVELOPMENT CORPORATION E 288196 BOOK VALUE SOBRO DEVELOPMENT CORPORATION D 1401645 BOOK VALUE