The Organization helps low income individuals build thriving businesses in New York City's most underserved communities in order to accumulate assets, increase their personal financial security and contribute to the economy.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Run by 1,311 volunteers and 25 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $398K a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$792K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$105K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.6M
-1% vs prior year
Spent
$4.0M
To programs
80%
Net assets
$3.8M
By yearFY2020–FY2024
Revenue
$3.6M
FY2024▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.0M
FY2021$5.5M
FY2022$5.2M
FY2023$3.6M
FY2024$3.6M
Expenses
$4.0M
FY2024▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.7M
FY2021$3.2M
FY2022$4.8M
FY2023$5.2M
FY2024$4.0M
Net assets
$3.8M
FY2024▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.1M
FY2021$5.4M
FY2022$5.8M
FY2023$4.2M
FY2024$3.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $3.2M Management & general 9% · $376K Fundraising 11% · $427K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990; $792K paid to officers and key staff.

Part VII, Section A · reportable compensation
CFO/ Executive Director (eff. Feb 2024)
$216,132Pt VII · Sec A
Chief Programs Officer
$162,189Pt VII · Sec A
Chief Operating Officer
$140,302Pt VII · Sec A
VP Programs
$132,674Pt VII · Sec A
Senior Director
$125,082Pt VII · Sec A
Executive Director (from July 2023 to January 2024)
$15,705Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Josephine Panzera’s $216K as CFO/ Executive Director (eff. Feb 2024) is at the 92nd percentile of top reported officer pay among 3868 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Josephine Panzera$216,132$139,382$121,767$104,810—
Jennifer Dasilva—$110,674$188,400$135,000$117,034
Sara Schlossberg$162,189$92,330———
Rebecca Engle—$155,433$140,791$132,912—
Niya Branham$140,302$114,921———
Shiri Wolf$132,674$117,434———
Ian Brown$125,082$89,705———
Marley Spooner—$111,174———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps low-income entrepreneurs in underserved communities build thriving businesses by providing free financial, marketing, and legal support to increase their financial security.

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Provided by the organization

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3 programs · $2.7M · in their own filed words · FY2024
01

Legal Program provided entrepreneurs with free legal services including choosing and forming an appropriate legal structure for the business or restructuring it to permit additional equity participation, corporate governance/corporate housekeeping, contract review and drafting, commercial lease review and negotiation, employment advice…

$1.4Mprogram expense
02

Client Relationship Management oversaw client eligibility and applications in addition to conducting business needs assessments (intakes) and directing clients to Start Small Think Big programs as required. The CRM team also offered a series of networking events and workshops for small businesses.

$864Kprogram expense
03

Marketing and Sales Program provided entrepreneurs with free marketing services including branding assessments and support with digital marketing strategies.

$472Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$5K
Grants paid · 97 grants · $1.4M · 2020–2023
Unitemized GrantFY2023$50,000
Unitemized GrantFY2023$50,000
Fleabags LLCFY2023$25,000
Mj Chocolatier LLCFY2023$25,000
Westxeast CoFY2023$25,000
Beija-Flor Naturals LLCFY2023$25,000
Kids Play Zone LLCFY2023$25,000
Dawn Demry the Little Hot Dog Wagon LLCFY2023$25,000
Rapid Rythms Rewards LLC DBA Sofia and Grace Cookie Co LLCFY2023$25,000
Onyemaechi Aharanwa Pinme 1913FY2023$25,000
Fleabags LLCFY2023$25,000
Mj Chocolatier LLCFY2023$25,000
Westxeast CoFY2023$25,000
Beija-Flor Naturals LLCFY2023$25,000
Kids Play Zone LLCFY2023$25,000
Dawn Demry the Little Hot Dog Wagon LLCFY2023$25,000
Rapid Rythms Rewards LLC DBA Sofia and Grace Cookie Co LLCFY2023$25,000
Onyemaechi Aharanwa Pinme 1913FY2023$25,000
See all 97 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.6M
Ln 12
Gifts and grantsLn 1h$3.5M
Investment incomeLn 3$67K
Other incomeLn 4–11$3K
Money outPt IX
$4.0M
Ln 25
Programscol B$3.2M
Managementcol C$376K
Fundraisingcol D$427K
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$3.9M
LiabilitiesLn 26$105K
PeoplePt VI, VII
26
listed · VII A
PaidVII A6
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.5M
Investment incomeLn 3$67K
Other incomeLn 4–11$3K
Total revenueLn 12$3.6M
Assets in detailPt X, end of year
CashLn 1$2.7M
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$242K
Land, buildings, equipmentLn 10c$252K
Total assetsLn 16$3.9M
LiabilitiesLn 26$105K
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 525
VolunteersI 61,311
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.0M$2.7M
InvestmentsLn 11–13$292K$242K
Land, buildings, equipmentLn 10c$232K$252K
Total assetsLn 16$4.4M$3.9M
LiabilitiesLn 26$117K$105K
Net assetsLn 32$4.2M$3.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$612K$358K$68K$185K
Other salaries and wagesLn 7$2.1M$1.9M$68K$118K
Pension plan contributionsLn 8$44K$37K$2K$5K
Other employee benefitsLn 9$237K$205K$12K$20K
Payroll taxesLn 10$226K$190K$11K$25K
Legal feesLn 11b$10K$6K$3K$0
Accounting feesLn 11c$19K$11K$8K$0
Professional fundraising feesLn 11e$53K$53K
Other fees for servicesLn 11g$79K$48K$32K$0
Advertising and promotionLn 12$247K$247K$7$108
Office expensesLn 13$4K$2K$680$703
Information technologyLn 14$73K$68K$1K$3K
OccupancyLn 16$21K$19K$726$2K
TravelLn 17$26K$22K$238$4K
Conferences, conventions and meetingsLn 19$10K$2K$1K$7K
Depreciation, depletion and amortizationLn 22$150K$0$150K$0
InsuranceLn 23$28K$23K$3K$2K
Other expenses (24a–d)Ln 24$19K$5K$13K$1K
Total functional expensesLn 25$4.0M$3.2M$376K$427K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.6M$4.0M−$416K$3.8M 990 PDF
FY2023 $3.6M$5.2M−$1.6M$4.2M 990 PDF
FY2022 $5.2M$4.8M$407K$5.8M 990 PDF
FY2021 $5.5M$3.2M$2.3M$5.4M 990 PDF
FY2020 $4.0M$2.7M$1.3M$3.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $3,571,237 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,499,269$3,501,636
I-9 Program service revenue$0
I-10 Investment incomePrior year $105,688$67,002
I-11 Other revenuePrior year $4,987$2,599
I-12 Total revenuePrior year $3,609,944$3,571,237
I-13 Grants and similar amounts paidPrior year $425,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,625,768$3,247,326
I-16a Professional fundraising fees$53,000
I-17 Other expensesPrior year $1,145,800$686,454
I-18 Total expensesPrior year $5,196,568$3,986,780
I-19 Revenue less expensesPrior year −$1,586,624−$415,543
Part VI · Governance 20 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,571,237 across 5 lines filed
VIII-1f All other contributions, gifts and grants$3,501,636
VIII-1h Total contributions, gifts and grants$3,501,636
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $67,002$67,002
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,599 · Unrelated business $0 · Excluded from tax $0$2,599
VIII-12 Total revenueRelated to mission $2,599 · Unrelated business $0 · Excluded from tax $67,002$3,571,237
Part IX · Statement of functional expenses $3,986,780 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $358,425 · Management $68,393 · Fundraising $185,317$612,135
IX-7 Other salaries and wagesPrograms $1,941,171 · Management $68,192 · Fundraising $118,294$2,127,657
IX-8 Pension plan contributionsPrograms $36,903 · Management $2,192 · Fundraising $4,872$43,967
IX-9 Other employee benefitsPrograms $204,728 · Management $12,145 · Fundraising $20,336$237,209
IX-10 Payroll taxesPrograms $189,990 · Management $11,284 · Fundraising $25,084$226,358
IX-11b Legal feesPrograms $6,323 · Management $3,389 · Fundraising $0$9,712
IX-11c Accounting feesPrograms $10,753 · Management $8,489 · Fundraising $0$19,242
IX-11e Professional fundraising feesFundraising $53,000$53,000
IX-11g Other fees for servicesPrograms $47,780 · Management $31,607 · Fundraising $0$79,387
IX-12 Advertising and promotionPrograms $246,863 · Management $7 · Fundraising $108$246,978
IX-13 Office expensesPrograms $2,499 · Management $680 · Fundraising $703$3,882
IX-14 Information technologyPrograms $68,499 · Management $1,224 · Fundraising $3,019$72,742
IX-16 OccupancyPrograms $18,738 · Management $726 · Fundraising $1,764$21,228
IX-17 TravelPrograms $21,860 · Management $238 · Fundraising $3,515$25,613
IX-19 Conferences, conventions and meetingsPrograms $1,803 · Management $1,077 · Fundraising $7,421$10,301
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $150,457 · Fundraising $0$150,457
IX-23 InsurancePrograms $23,461 · Management $3,119 · Fundraising $1,635$28,215
IX-24 Other expenses (24a–d)Programs $4,615 · Management $12,586 · Fundraising $1,496$18,697
IX-25 Total functional expensesPrograms $3,184,411 · Management $375,805 · Fundraising $426,564$3,986,780
Part X · Balance sheet $3,931,535 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $3,011,260$2,691,111
X-3 Pledges and grants receivableStart of year $766,589$715,278
X-9 Prepaid expenses and deferred chargesStart of year $56,832$31,036
X-10c Land, buildings and equipment, netStart of year $232,086$251,779
X-11 Publicly traded securitiesStart of year $292,314$242,331
X-16 Total assetsStart of year $4,359,081$3,931,535
X-17 Accounts payable and accrued expensesStart of year $107,841$105,013
X-26 Total liabilitiesStart of year $117,016$105,013
X-27 Net assets without donor restrictionsStart of year $3,382,561$3,218,186
X-28 Net assets with donor restrictionsStart of year $859,504$608,336
X-32 Total net assets or fund balancesStart of year $4,242,065$3,826,522
X-33 Total liabilities and net assetsStart of year $4,359,081$3,931,535
Part XI · Reconciliation of net assets $3,826,522 net assets at year end
XI-1 Total revenue$3,571,237
XI-2 Total expenses$3,986,780
XI-3 Revenue less expenses−$415,543
XI-4 Net assets at start of year$4,242,065
XI-10 Net assets at end of year$3,826,522

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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