BOC DEVELOPMENT CORPORATION

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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

2005

Legal Domicile

Principal Officer

NANCY CARIN

Phone

7186249115

Tax Period

2022-07-01 to 2023-06-30

BOC DEVELOPMENT CORPORATION, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $262K in total revenue in fiscal year 2022. Expenses of $311K exceeded revenue, resulting in a 19% operating deficit.

Mission

THROUGH PARTNERSHIPS, BOC DEVELOPMENT CORPORATION HELPS PRESERVE COMMERCIAL SPACE FOR SMALL BUSINESS USES IN LOW-INCOME AREAS AND COLLABORATES WITH THE BUSINESS OUTREACH CENTER NETWORK, INC. FOR SERVICES TO SMALL BUSINESS AND ADMINISTRATIVE SUPPORT. SOURCES OF REVENUES ARE PROGRAM FEES ASSOCIATED WITH COMMERCIAL/INDUSTRIAL BUSINESS DEVELOPMENT AS WELL AS USER FEES AND GRANT SUPPORT FOR THE BRONX BUSINESS INCUBATOR.

Program Service Accomplishments

Program 1

Expenses: $279,137 Revenue: $231,272

BOC DEVELOPMENT CORPORATION OPERATES WITH BXL BRONX BUSINESS INCUBATOR IN COLLABORATION WITH BUSINESS OUTREACH CENTER NETWORK, INC. BXL BUSINESS INCUBATOR WAS LAUNCHED MAY 1, 2014 IN HUNTS POINT...

BOC DEVELOPMENT CORPORATION OPERATES WITH BXL BRONX BUSINESS INCUBATOR IN COLLABORATION WITH BUSINESS OUTREACH CENTER NETWORK, INC. BXL BUSINESS INCUBATOR WAS LAUNCHED MAY 1, 2014 IN HUNTS POINT, BRONX, WITH A LEASE FOR AN 11,000 SQUARE FOOT SMALL BUSINESS INCUBATOR SPACE AT THE BANK NOTE BUILDING. THE BXL INCUBATOR PROVIDES A COMBINATION OF SHARED-USE OFFICE SPACE AND SUPPORT SERVICES TO ENTREPRENEURS AND SMALL BUSINESSES WITH A SPECIAL FOCUS ON INDUSTRIES AND SECTORS THAT OFFER GROWTH POTENTIAL.

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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 $30,000

Program Service Revenue $231,272

Investment Income $6

Other Revenue $650

TOTAL REVENUE $261,928

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $279,137

Other Expenses $310,752

TOTAL EXPENSES $310,752

Year-over-Year Comparison

	2022	2021	Change
Revenue	$261,928	$270,169	0.0%
Expenses	$310,752	$183,869	+0.7%
Net Income	$-48,824	$86,300	-1.6%

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

$596,367

Total Directors

$413,119

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY CARIN	President	4.00	Officer Director	$0	$34,036	$233,536
ELENA ZIKUSS	CFO	2.00	Officer	$0	$38,283	$183,248
RODNEY SANTIAGO	Treasurer	4.00	Officer Director	$0	$22,248	$179,583
ROBERTA COHEN	Secretary	0.10	Officer Director	$0	$0	$0
LESLIE WINTER	Aud Comm chair	0.10	Director	$0	$0	$0
DAVID ACEVEDO	AUD comm member	0.10	Director	$0	$0	$0
GREGORY J LIBERTINY	Aud comm member	0.10	Director	$0	$0	$0
DANIEL LIU	Aud Comm Member	0.10	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	$261,928	$310,752	$47,570	$-48,824
2022	$270,169	$183,869	$115,223	$86,300
2021	$240,811	$231,991	$92,202	$8,820
2020	$224,299	$294,215	$75,667	$-69,916
2019	$257,770	$301,739	$50,169	$-43,969
2018	$217,786	$299,803	$85,112	$-82,017