SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION (EIN 132736022) - 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

1972

Legal Domicile

Principal Officer

KAREN GEER

Phone

7182923113

Tax Period

2022-04-01 to 2023-03-31

SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION, founded in 1972, is a community nonprofit in the Community Improvement sector that reported $8.9M in total revenue in fiscal year 2022. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $10.7M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL AND CAREER DEVELOPMENT PROGRAMS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $8,107,994

Program Service Revenue $738,728

Investment Income $12,506

Other Revenue $1,199

TOTAL REVENUE $8,860,427

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,115,534

Fundraising Expenses $232,266

Program Expenses $7,958,168

Other Expenses $4,552,196

TOTAL EXPENSES $10,667,730

Year-over-Year Comparison

	2022	2021	Change
Revenue	$8,860,427	$12,019,062	-0.3%
Expenses	$10,667,730	$12,192,704	-0.1%
Net Income	$-1,807,303	$-173,642	+9.4%

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

358

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

$541,714

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK L CASTLE	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ARLINE PARKS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KAREN MCGUINNESS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ANTHONY M RICCIO JR	SECRETARY	1.00	Officer Director	$0	$0	$0
MARK WILLIS	TREASURER	1.00	Officer Director	$0	$0	$0
TIFFANI HINDS	BOARD MEMBER	1.00	Director	$0	$0	$0
MAYRA LINARES-GARCIA	BOARD MEMBER	1.00	Director	$0	$0	$0
HUGH GRANT	BOARD MEMBER	1.00	Director	$0	$0	$0
PLINIO AYALA	BOARD MEMBER	1.00	Director	$0	$0	$0
LAUREN GEORGE	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM BILL BOLLINGER	BOARD MEMBER	1.00	Director	$0	$0	$0
CONOR MCCARTHY	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNIFER RIVERA	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICIA NIA ROCK	BOARD MEMBER	1.00	Director	$0	$0	$0
PRISCA SALAZAR-RODRIGUEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
LOURDES ZAPATA	PRESIDENT & CEO	32.00	Officer	$245,053	$38,748	$283,801
ROBBIN FINNEY-GRANSTON	SVP PROGRAMS	32.00	Officer	$102,985	$10,642	$113,627
DELILAH TYSON	CAO	32.00	Officer	$135,519	$8,767	$144,286

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
2023	$8,860,427	$10,667,730	$10,232,191	$-1,807,303
2022	$12,019,062	$12,192,704	$9,441,146	$-173,642
2021	$8,304,857	$8,235,656	$9,807,233	$69,201
2021	$9,485,057	$8,348,588	$11,273,834	$1,136,469
2020	$15,134,013	$11,266,838	$7,389,551	$3,867,175
2019	$14,505,335	$12,729,940	$5,681,704	$1,775,395
2018	$10,866,144	$11,657,311	$11,675,328	$-791,167
2018	$11,284,630	$14,028,345	$5,345,087	$-2,743,715

SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION