Bedford Stuyvesant Restoration Corporation

EIN: 116083182 501(c)(3) Housing & Shelter

Brooklyn, NY

Total Revenue
$9,652,738
Total Expenses
$12,776,353
Total Assets
$62,952,981
Net Assets
$25,694,577
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
NY
Principal Officer
Francila Carlson
Phone
7186366900
Tax Period
2022-07-01 to 2023-06-30

Bedford Stuyvesant Restoration Corporation, founded in 1967, is a community nonprofit in the Housing & Shelter sector that reported $9.7M in total revenue in fiscal year 2022. Revenue decreased 7% compared to the prior year. Expenses of $12.8M exceeded revenue, resulting in a 32% operating deficit.

Mission

The nation's first community development organization, partners with community residents, leaders and businesses to improve the quality of life of Central Brooklyn by fostering economic self suffiency, enhancing family stability and growth, promoting arts and culture and transforming the community into a safe, vibrant place to live, work and visit.

Program Service Accomplishments

Program 1
Expenses: $4,589,004

Workforce and Economic Development - Through its workforce development initiative the organization is able to provide a continuum of job preparedness and placement services to assist Community...

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Workforce and Economic Development - Through its workforce development initiative the organization is able to provide a continuum of job preparedness and placement services to assist Community residents to enter or re-enter the workplace. Additionally, the organization is partnering with community businesses and leaders in providing services that foster a clean, safe and vibrant business district in Bedford Stuyvesant and Central Brooklyn.

Program 2
Expenses: $2,268,007

COMMERCIAL REVITALIZATION - The organization is engaged in facilitating the expansion and enhancement of business in underserved communities to combat urban decay and to create jobs and business...

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COMMERCIAL REVITALIZATION - The organization is engaged in facilitating the expansion and enhancement of business in underserved communities to combat urban decay and to create jobs and business opportunities.

Program 3
Expenses: $1,837,244

Weatherization Assistance and Energy Conservation - Through this program the organization has been weatherizing resdential units of low income and elderly tenants to reduce fuel consumption and...

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Weatherization Assistance and Energy Conservation - Through this program the organization has been weatherizing resdential units of low income and elderly tenants to reduce fuel consumption and conserve energy for nearly thirty years. In addition to the reduction in energy consumption the program provides an economic benefit to community- based contractors and sellers of construction material.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $8,815,712
Program Service Revenue $1,552,306
Investment Income $153,941
Other Revenue $-869,221
TOTAL REVENUE $9,652,738

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,328,122
Fundraising Expenses $80,000
Program Expenses $9,299,238
Other Expenses $4,368,231
TOTAL EXPENSES $12,776,353

Year-over-Year Comparison

2022 2021 Change
Revenue $9,652,738 $10,428,266 -0.1%
Expenses $12,776,353 $11,786,220 +0.1%
Net Income $-3,123,615 $-1,357,954 +1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
20
Employees
213
Volunteers
3

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
9
$1,375,565
Total Directors
25
$1,375,565
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Colvin Grannum President & CEO 35.00
Officer Director
$287,785 $43,268 $331,053
Francila Carlson Exec. VP/CFAO 35.00
Officer Director
$279,950 $13,341 $293,291
Tracey Capers Exec. VP 35.00
Officer Director
$201,702 $11,231 $212,933
Renee Jenkins Exec. VP 35.00
Officer Director
$178,798 $10,951 $189,749
Gordon Bell Exec. VP 35.00
Officer Director
$145,559 $34,728 $180,287
Blondel Pinnock President 35.00
Officer Director
$166,849 $1,403 $168,252
Kevin G Chavers Chairman 1.00
Officer Director
$0 $0 $0
Erika Irish Brown Vice Chair 1.00
Officer Director
$0 $0 $0
Shawn Austin Member 1.00
Director
$0 $0 $0
Marisha L Clinton CPA Treasurer 1.00
Officer Director
$0 $0 $0
Joseph Lynch Esq Member 1.00
Director
$0 $0 $0
Binta Vann Member 1.00
Director
$0 $0 $0
Cameron Arrington Member 1.00
Director
$0 $0 $0
Eric Eve Member 1.00
Director
$0 $0 $0
David Ehrenberg Member 1.00
Director
$0 $0 $0
Benjamin A Glascoe Member 1.00
Director
$0 $0 $0
Lindsay Greene Member 1.00
Director
$0 $0 $0
Depelsha Thomas McGruder Member 1.00
Director
$0 $0 $0
David Offensend Member 1.00
Director
$0 $0 $0
Timothy L Simons Secretary 1.00
Director
$0 $0 $0
Albert C Wiltshire Member 1.00
Director
$0 $0 $0
Glenn E Sharpe Member 1.00
Director
$0 $0 $0
Dr Wayne Riley Member 1.00
Director
$0 $0 $0
Lenue H Singletary III Member 1.00
Director
$0 $0 $0
Peter M Williams Member 1.00
Director
$0 $0 $0
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 No data No data No data No data
2024 No data No data No data No data
2023 $9,652,738 $12,776,353 $62,952,981 $-3,123,615
2022 $10,428,266 $11,786,220 $64,996,844 $-1,357,954
2021 $10,958,396 $10,389,740 $66,956,082 $568,656
2020 $11,207,077 $10,816,894 $65,409,022 $390,183
2019 $11,864,048 $11,488,026 $61,228,941 $376,022
2019 $9,597,950 $11,522,888 $60,349,524 $-1,924,938
2018 $12,035,065 $12,046,155 $60,595,221 $-11,090
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