The Business Initiative Corporation of New York (EIN 134088607) - 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

1994

Legal Domicile

Principal Officer

RAFAEL ROGER

Phone

7185903980

Tax Period

2023-10-01 to 2024-09-30

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.

Mission

THE CORPORATION WORKS WITH THE SBA AND PRIVATE LENDERS TO PROVIDE FINANCING TO all sectors of the Bronx and New York State business community to support economic development.

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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 (2023)

Revenue Breakdown

Contributions & Grants $57,563

Program Service Revenue $524,597

Investment Income $9,566

Other Revenue $0

TOTAL REVENUE $591,726

Expense Breakdown

Grants Paid $0

Salaries & Benefits $345,431

Fundraising Expenses $20,356

Program Expenses $617,366

Other Expenses $424,786

TOTAL EXPENSES $770,217

Year-over-Year Comparison

	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%

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

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

$156,838

Total Directors

Key Employees

Highest Compensated

reported

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

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
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

The Business Initiative Corporation of New York