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BOC DEVELOPMENT CORPORATION
BROOKLYN, NY · EIN 202660238 · Form 990 · FY2023 · NTEE S31 · Community Improvement · Small ($100K-$1M) · bxl.nyc
revenue
$140K
expenses
$108K
net assets
$-116K
employees
0
volunteers
15
program ratio
86%
mission · from form 990

BOC Development promote employment, business development and other economic and social opportunities.

profile · synthesized from sources

BOC Development Corporation operates the BXL Business Incubator in the South Bronx, providing co-working space, business development resources, and support services to entrepreneurs. It offers one-on-one counseling, technology assistance, and access to financing through its affiliated BOC Capital. The organization focuses on empowering underserved entrepreneurs, particularly women and low-income individuals, through training, certification, and incubation programs.

named programs · 5 · from sources

What they call their work

Ascend NYC
Citywide initiative powered by JP Morgan Chase’s Small Business Forward Initiative, providing ecosystem support to grow businesses across New York City.
BOC Capital
Provides low-interest micro-lending and contract-based lending services to BXL members to support business growth and contract fulfillment.
BOC Women’s Business Center (WBC)
Provides business training, one-on-one counseling, and financing resources to help women entrepreneurs start and grow their businesses, with a focus on underserved populations.
BXL Business Incubator
State-of-the-art incubator and co-working space in the South Bronx offering modern office facilities, 24/7 workspace access, conference rooms, and end-to-end business support services to help launch and grow new businesses.
Entrepreneurship Assistance Center (EAC)
Offers bilingual instruction, training, technical assistance, and support services to new and aspiring entrepreneurs.
activities · 6 groups

What they do

  • Startup Acceleration & Business Growth Support 2 activities
    • Host specialized business support centers and programs
      Hosts an in-house Women’s Business Center, the Ascend New York City program, and BOC Capital counselors to support women entrepreneurs and provide targeted business development resources and financing access.
    • Operate business incubator and co-working space
      Operates the first state-of-the-art business incubator and co-working space in the 3rd Avenue “Hub” of the South Bronx, providing 24/7 access to shared workspaces, dedicated workstations, office technology, and lounge areas for entrepreneurs on a month-to-month basis.
  • MWBE Certification and Contract Access Support 1 activity
    • Deliver entrepreneurial training and business counseling services
      Provides bilingual instruction, training, technical assistance, and one-on-one counseling to new and aspiring entrepreneurs through Entrepreneurship Assistance Centers, covering business start-up, expansion, financing, regulatory compliance, market research, and certification acquisition.
  • Community Space Provision 1 activity
    • Provide membership-based access to conference rooms and event spaces
      Provides members and non-members with hourly and monthly access to networked conference rooms and a 3,000 sq. ft. event space equipped with presentation technology; event space accommodates up to 50 people and is available for business events, gatherings, and networking.
  • Small Business and Nonprofit Lending 1 activity
    • Provide micro-lending and contract-based financing
      Offers low-interest micro-lending and contract-based lending to members of the BXL Business Incubator to support business growth, contract fulfillment, and access to capital.
  • Professional Membership and Association Benefits 1 activity
    • Provide virtual and hybrid membership services
      Offers virtual and open membership options that include business address use, private mailbox, access to shared or dedicated workspaces, and tiered access to conference rooms and business resources for remote entrepreneurs.
  • Uncategorized 1 activity
    • Offer technology and digital strategy support for entrepreneurs
      Provides members with access to in-house tech consultants to develop digital marketing strategies, streamline business processes, and support technology integration.
financials · form 990 · fy2023
revenue
Total revenue$140K
Contributions & grants$50K36%
Program service revenue$90K64%
Investment income$960%
Other revenue$0
expenses
Total expenses$108K
Program expenses86%
Admin / overhead14%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$1.03M
Cash$82K
Investments$0
Liabilities$1.14M
Net assets$-116K
Liquid reserves9.0 mo
5 years on record · 2019–2023 · YoY revenue -46.6%
leadership · form 990 part vii · fy2023

Who runs it

paid leadership · 3
NameTitleHours/wkCompensation
NANCY CARIN President 4 $278K
ELENA ZIKUSS CFO 2 $206K
RODNEY SANTIAGO Treasurer 4 $167K
board members · 5
  • DANIEL LIU — Aud Comm Member
  • DAVID ACEVEDO — AUD comm member
  • GREGORY J LIBERTINY — Aud comm member
  • LESLIE WINTER — Aud Comm chair
  • ROBERTA COHEN — Secretary
relationships · 10

Who they work with

  • BOC Capital Partner — Provides counseling services through BOC Capital at the BXL Business Incubator.
  • BXL Business Incubator Partner — Provides lending services to members of the BXL Business Incubator.
  • BXL Network Network — Collaborates with the BXL Network to provide members access to resources, events, and connections.
  • Bronx Digital Meetup Partner — BXL hosts the Bronx Digital Meetup to connect Bronx residents with tech networking events and workshops.
  • Business Outreach Center (BOC) Network Network — Provides business counseling services to BXL members as part of the BOC Network.
  • Dime Community Bank Funder — Supports the BOC Bronx BXL Business Incubator as a funder.
  • Flagstar Bank Funder — Supports the BOC Bronx BXL Business Incubator as a funder.
  • JP Morgan Chase Government — Partner in the Small Business Forward Initiative supporting Ascend New York City
  • NYCEDC Partner — Partnership with NYCEDC to operate the BXL Business Incubator.
  • U.S. Small Business Administration Government — Funds programs through a Cooperative Agreement and supports the Women’s Business Center initiative.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Empowerment Through Education and Microfinance
    methodology: empowerment-through-education
    By providing bilingual entrepreneurship training, technical assistance, and micro-lending, the organization empowers underserved entrepreneurs—particularly women—to launch and grow businesses, because access to capital combined with education increases business viability and community economic participation.
  • Integrated Business Incubation Model
    methodology: business-incubation
    By combining physical workspace, end-to-end business support, and technical assistance, BOC DEVELOPMENT CORPORATION reduces operational barriers for startups and underserved entrepreneurs, accelerating business growth because integrated infrastructure increases retention and success rates.
  • Technology-Enabled Business Growth Support
    methodology: integrated tech consulting
    By integrating in-house tech consulting, digital strategy development, and technology-equipped collaboration spaces, the organization enhances startup and small business operations because embedding technical capacity within shared infrastructure improves innovation and client engagement.