Bronx, NY
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)The Business Initiative Corporation of New York, founded in 1994, is a small nonprofit in the Community Improvement sector that reported $592K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $770K exceeded revenue, resulting in a 30% operating deficit.
THE MISSION OF THE BUSINESS INITIATIVE CORPORATION OF NEW YORK (BICNY) IS TO SUPPORT ECONOMIC DEVELOPMENT AND INDUCE PRIVATE INVESTMENTS IN NEW YORK STATE BY PROVIDING BELOW-MARKET INTEREST RATE LOANS AND LONG-TERM CAPITAL FOR THE BUSINESS COMMUNITY. THESE EFFORTS WILL RESULT IN CREATING MUCH-NEEDED JOBS IN TEH BRONX, AS WELL AS IN THE STATE, BY ASSISTING SMALL BUSINESSES TO GROW AND EXPAND BY ACQUIRING BELOW-MARKET RATE LOANS FROM THE SBA AND ADDITIONAL FUNDS FROM PRIVATE LENDERS. WE PROVIDE FINANCING TO: * PURCHASE COMMERCIAL REAL ESTATE THAT WILL BE OCCUPIED BY THE BUSINESS; * PURCHASE MACHINERY AND EQUIPMENT TO BE USED BY THE BUSINESS; * PROVIDE LEASEHOLD IMPROVEMENTS TO A PROPERTY OCCUPIED BY THE BUSINESS; * CONSTRUCT COMMERCIAL REAL ESTATE AND OR LAND IMPROVEMENTS, AND * COVER SOFT COSTS ASSOCIATED WITH ANY OF THE ABOVE USES OF FUNDS. BICNY FOCUSES ON ALL INDUSTRIES AND SECTORS, INDUSTRIAL, COMMERCIAL, MANUFACTURERS, AND SERVICE FIRMS. BICNY ALSO PROVIDES LOANS TO BUSINESSES IN L
THE CORPORATION WORKS WITH THE SBA AND PRIVATE LENDERS TO PROVIDE FINANCING TO SMALL BUSINESSES. DURING FYE 9/30/24, BICNY CLOSED ON A TOAL OF TWELVE LOANS AMOUNTING TO $12,419,000 SEVEN (7) 504...
THE CORPORATION WORKS WITH THE SBA AND PRIVATE LENDERS TO PROVIDE FINANCING TO SMALL BUSINESSES. DURING FYE 9/30/24, BICNY CLOSED ON A TOAL OF TWELVE LOANS AMOUNTING TO $12,419,000 SEVEN (7) 504 LOANS AND FIVE (5) COMMUNITY ADVANTAGE LOANS FOR $875,000. BICNY 504 LOANS INDUCED DURING FYE 2024 INVESTMENTS OF $17,367,479 FROM BANKS AND $10,365,721 FROM PRIVATE EQUITY. THESE LOANS LEVERAGED TOTAL PROJECT COSTS AMOUNTING TO OVER $40,000,000 AS A RESULT OF COMPLETING AND CLOSING THESE PROJECTS, 55 NEW JOBS SHOULD BE CREATED OR MAINTAINED OVER THE NEXT TWO YEARS. IN FYE 2024, BICNY PROCESSED AND RECEIVED SBA AUTHORIZATIONS FOR 3 PROJECTS WITH A POTENTIAL CAPITAL INVESTMENT OF PUBLIC AND PRIVATE MONEY OF $10,140,400 OF WHICH $3,858,500 MILLION REPRESENTS BICNY'S PORTION. THE BANKS PARTICIPATION AMOUNTED TO APPROXIMATELY $5,070,200, AND PRIVATE EQUITY INVESTMENT AMOUNTED TO $1,211,700.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $591,726 | $523,084 | +0.1% |
| Expenses | $770,217 | $686,851 | +0.1% |
| Net Income | $-178,491 | $-163,767 | +0.1% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Rafael Roger | President | 40.0 |
Officer
|
$156,838 | $0 | $156,838 |
| Syed Ahsan | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Dolores Batista | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Gustavo Buitrago | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Hugh Campbell | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Joseph Coleman | Treasurer/Director | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| Sandra Erickson | Vice Chair/DIRECTOR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| Jessica Johnson | Secretary/DIRECTOR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| James Lanfranchi | Board Chairman/DIRECTOR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| Ralph Bumbaca | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Mark Simshauer | Director | 1.0 |
Director
|
$0 | $0 | $0 |
| Deodat Singh | Director | 1.0 |
Director
|
$0 | $0 | $0 |
| Lola Gazivoda | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Anthony Mormile | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| Robert Walsh | Director | 1.0 |
Director
|
$0 | $0 | $0 |
| Rosa Diaz | Director | 1.0 |
Director
|
$0 | $0 | $0 |
| Carlos M Santana | Director | 1.0 |
Director
|
$0 | $0 | $0 |
| Byron Logan | Director | 1.0 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $591,726 | $770,217 | $788,126 | $-178,491 |
| 2023 | $523,084 | $686,851 | $545,866 | $-163,767 |
| 2022 | $593,520 | $560,772 | $920,295 | $32,748 |
| 2021 | $375,742 | $326,570 | $628,089 | $49,172 |
| 2020 | $359,248 | $314,109 | $617,136 | $45,139 |
| 2019 | $397,553 | $353,159 | $593,966 | $44,394 |
| 2018 | $361,713 | $355,266 | $518,823 | $6,447 |
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