SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION (EIN 112508370) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

JESSE SOLOMON

Phone

7189653100

Tax Period

2024-07-01 to 2025-06-30

SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION, founded in 1978, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Revenue fell 36% from the prior year — a significant decline worth monitoring.

Mission

SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION (SBIDC) PROVIDES ADVOCACY AND SERVICES TO HELP BUSINESSES IN THE SUNSET PARK, RED HOOK AND GOWANUS NEIGHBORHOODS GROW AND CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,212,343

Program Service Revenue $0

Investment Income $83

Other Revenue $118,308

TOTAL REVENUE $1,330,734

Expense Breakdown

Grants Paid $0

Salaries & Benefits $845,572

Fundraising Expenses $30,701

Program Expenses $1,129,671

Other Expenses $569,216

TOTAL EXPENSES $1,414,788

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,330,734	$2,072,854	-0.4%
Expenses	$1,414,788	$1,202,873	+0.2%
Net Income	$-84,054	$869,981	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$183,479

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY LEE ROMERO	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
ELIZABETH DEMETRIOU	SECRETARY	2.00	Officer Director	$0	$0	$0
SUSAN FERMISCO	TREASURER	2.00	Officer Director	$0	$0	$0
MICHAEL DIMARINO	DIRECTOR	2.00	Director	$0	$0	$0
PAUL GEVERTZMAN	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN GIUMENTA	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER MURTHA	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL JEFFREY SPINNER	DIRECTOR	2.00	Director	$0	$0	$0
EILEEN THORNTON VAZQUEZ	DIRECTOR	2.00	Director	$0	$0	$0
BLAKE TOMNITZ	DIRECTOR	2.00	Director	$0	$0	$0
ALAN PETRILLI	DIRECTOR	2.00	Director	$0	$0	$0
ALAN SAGE	DIRECTOR	2.00	Director	$0	$0	$0
MIKE STAMATIS	DIRECTOR	2.00	Director	$0	$0	$0
IRINA CONSTANTINE	DIRECTOR (THRU SEPT 2024)	2.00	Director	$0	$0	$0
JESSE SOLOMON	EXECUTIVE DIRECTOR	40.00	Officer	$154,838	$28,641	$183,479

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,330,734	$1,414,788	$1,954,999	$-84,054
2024	$2,072,854	$1,202,873	$1,600,101	$869,981
2023	$1,111,462	$1,038,905	$675,859	$72,557
2022	$1,197,769	$1,056,970	$536,412	$140,799
2021	$1,175,336	$1,113,967	$611,568	$61,369
2020	$1,025,571	$936,873	$575,497	$88,698
2019	$1,514,170	$1,379,709	$361,187	$134,461
2018	$1,298,027	$1,484,504	$407,579	$-186,477

SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION