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Boriken Local Development Corporation FY2020 filing

New York, NYUnknown exempt organization EIN 46-3167787Revenue $649K in FY2020Latest return filed May 12, 2023

On file with the IRSboriken.org2265 Third Avenue · New York, NY

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Boriken Local Development Corporation was formed to develop and own a facility for delivery of social and health care services in the community of east harlem, new york.

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $22K a year · 4% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$19.1M
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$649K
Spent
$762K
To programs
94%
Net assets
$3.1M
By yearFY2020–FY2022
Revenue
$649K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$649K
FY2021$649K
FY2022$379K
Expenses
$762K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$762K
FY2021$649K
FY2022$331K
Net assets
$3.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.1M
FY2021$3.1M
FY2022$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $712K Management & general 6% · $49K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Jaqueline Aleman
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
Rosa Medina
Secretary
$0Pt VII · Sec A
Ahmed Abedo
Chief Financial Officer
$0Pt VII · Sec A
Arturo Perez
Chief Executive Officer
$0Pt VII · Sec A
Erika Donovan Estades
COO/General Counsel
$0Pt VII · Sec A
Elizabeth Perez
General Counsel
$0Pt VII · Sec A
Elizabeth Sanchez
CEO (left 01/2019)
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2022FY2021
Arturo Perez$306,423$279,769
Erika Donovan Estades$125,262$225,688
Ahmed Abedo$193,979$183,767
Elizabeth Perez$165,821$169,254

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.

See Boriken Local Development Corporation executive salaries →

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 15aNo

Programs and updates

Develops and owns a facility for social and health care services in East Harlem.

Questions for Boriken Local Development Corporation

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1 program · $712K · in their own filed words · FY2019
01

Boriken local development corporation was formed to develop and own a facility for delivery of social and health care services in the community of east harlem, new york.

$712Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$649K
Ln 12
Fees for servicesLn 2g$649K
Investment incomeLn 3$219
Money outPt IX
$762K
Ln 25
Programscol B$712K
Managementcol C$49K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$73K
Total assetsLn 16$22.2M
LiabilitiesLn 26$19.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$649K
Investment incomeLn 3$219
Total revenueLn 12$649K
Assets in detailPt X, end of year
CashLn 1$73K
Cash and savings togetherLn 1–2$73K
Land, buildings, equipmentLn 10c$18.8M
Other assetsLn 15$3.4M
Total assetsLn 16$22.2M
LiabilitiesLn 26$19.1M
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderJune
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 FY20End FY20
Cash and savingsLn 1–2$72K$73K
Land, buildings, equipmentLn 10c$19.3M$18.8M
Total assetsLn 16$22.3M$22.2M
LiabilitiesLn 26$19.1M$19.1M
Net assetsLn 32$3.2M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$42K$42K
Other fees for servicesLn 11g$6K$6K
Office expensesLn 13$429$429
InterestLn 20$144K$144K
Depreciation, depletion and amortizationLn 22$568K$568K
Other expenses (24a–d)Ln 24$250$250
Total functional expensesLn 25$762K$712K$49K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 LatestFiled with the IRS May 12, 2023 $379K$331K$47K$0 990 PDF
FY2021Filed with the IRS May 12, 2022 $649K$649K−$327$3.1M 990 PDF
FY2020 ViewingFiled with the IRS May 7, 2021 $649K$762K−$112K$3.1M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $649,163 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $648,944$648,944
I-10 Investment incomePrior year $558$219
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $649,502$649,163
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $760,774$761,521
I-18 Total expensesPrior year $760,774$761,521
I-19 Revenue less expensesPrior year −$111,272−$112,358
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $649,163 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $648,944$648,944
VIII-3 Investment incomeExcluded from tax $219$219
VIII-12 Total revenueRelated to mission $648,944 · Unrelated business $0 · Excluded from tax $219$649,163
Part IX · Statement of functional expenses $761,521 across 6 lines filed
IX-11a Management feesManagement $42,250$42,250
IX-11g Other fees for servicesManagement $6,500$6,500
IX-13 Office expensesManagement $429$429
IX-20 InterestPrograms $144,368$144,368
IX-22 Depreciation, depletion and amortizationPrograms $567,724$567,724
IX-24 Other expenses (24a–d)Programs $250$250
IX-25 Total functional expensesPrograms $712,342 · Management $49,179 · Fundraising $0$761,521
Part X · Balance sheet $22,224,646 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $72,316$72,768
X-10c Land, buildings and equipment, netStart of year $19,323,085$18,771,558
X-15 Other assetsStart of year $2,924,906$3,380,320
X-16 Total assetsStart of year $22,320,307$22,224,646
X-17 Accounts payable and accrued expensesStart of year $17,630$18,130
X-26 Total liabilitiesStart of year $19,102,670$19,119,367
X-27 Net assets without donor restrictionsStart of year $3,217,637$3,105,279
X-32 Total net assets or fund balancesStart of year $3,217,637$3,105,279
X-33 Total liabilities and net assetsStart of year $22,320,307$22,224,646
Part XI · Reconciliation of net assets $3,105,279 net assets at year end
XI-1 Total revenue$649,163
XI-2 Total expenses$761,521
XI-3 Revenue less expenses−$112,358
XI-4 Net assets at start of year$3,217,637
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,105,279

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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