irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $715KEmpowerment zone - The Empowerment Zone program includes the operation of two loan programs for qualified Bronx Empowerment Zone companies. The Corporation is the administrator of the Bronx portion of the New York City Empowerment Zone. This program was a part of the President's Empowerment Zone and Enterprise Community Initiative. The goals of the program within the Bronx are economic development, sustainable community development, the development of community-based partnerships, and the development of a strategic vision of change. The Empowerment Zone programs offer loans at low interest rates and long repayment terms in exchange for the borrower's commitment to hire Bronx Empowerment Zone residents. The partners in this enterprise and the entities funding the program are the City of New York, the New York State Urban Development Corporation (doing business as the Empire State Development Corporation) ("ESDC"), and the United States Department of Housing and Urban Development. Fundamental to achieving the program's goal is the creation of permanent jobs through business development within the target zones. The legislation that supported the Empowerment Zones ended on December 31, 2013; however, the funding received under this program continues to be used to provide the same loan programs. In addition to these programs, the Small Business Administration (SBA) 7(a) Loan Program has become an essential tool for expanding access to capital, offering flexible financing options to small businesses within the Bronx Empowerment Zone. As part of an effort to strengthen and expand these initiatives, a Director of the Empowerment Zone has been hired to oversee operations, ensure effective allocation of funds, and enhance strategic partnerships that support economic growth and job creation within the borough.
- #2 $983KThe Bronx Tourism Council was established in 1992 to collaborate with governmental and nongovernmental organizations to promote tourism in the Bronx and showcase the borough's diverse attractions. Through strategic partnerships and community engagement, the Council highlights the Bronx as a premier destination for both visitors and residents. A signature initiative is Bronx Week, an annual celebration that honors the Bronx's history, culture, and contributions to the arts, business, and civic life. A key feature of Bronx Week is the Bronx Walk of Fame, which recognizes distinguished individuals who have made a lasting impact.To enhance this tradition, the Council is launching the Bronx Walk of Fame mobile app in 2025, offering an interactive way for users to explore the borough's most celebrated figures and landmarks. Other major events include Tour de Bronx, New York State's largest free cycling event, which brings riders from across the region to explore the borough's scenic and historic routes, and Savor the Bronx, an annual restaurant week that showcases the Bronx's growing culinary scene, from classic eateries to emerging gastronomic hotspots. The Council also engages in media-driven initiatives to further promote the Bronx's unique offerings. The Bronx Beat serves as a platform to highlight attractions, businesses, and organizations throughout the borough, while The Bronx Beat with 1010 WINS covers the latest developments, events, and cultural milestones, amplifying the Bronx's presence on a broader stage. Throughout the year, the Council supports various cultural and ethnic celebrations, fostering a sense of community and ensuring that the Bronx's diversity, vibrancy, and heritage remain at the forefront of its tourism efforts. to highlight attractions, businesses, and organizations throughout the borough, while The Bronx Beat with 1010 WINS covers the latest developments, events, and cultural milestones, amplifying the Bronx's presence on a broader stage. Throughout the year, the Council supports various cultural and ethnic celebrations, fostering a sense of community and ensuring that the Bronx's diversity, vibrancy, and heritage remain at the forefront of its tourism efforts.
named programs · 5 · from sources
What they call their work
Bronx Tourism Council
Promotes tourism in the Bronx through events like Bronx Week, Tour de Bronx, and Savor the Bronx; also manages the Bronx Walk of Fame and media outreach via The Bronx Beat.
Commercial Revitalization Assistance
Provides technical support to Business Improvement Districts and merchant associations, including storefront improvements, public space enhancements, and placemaking initiatives.
Comprehensive Economic Development Strategy (CEDS)
A borough-wide initiative to create an equitable, resilient, and sustainable economic vision for the Bronx, supported by community engagement and planning grants from the U.S. EDA.
Empowerment Zone Loan Programs
Offers low-interest, long-term loans to qualified businesses in the Bronx Empowerment Zone in exchange for commitments to hire local residents; administered in partnership with city, state, and federal agencies.
SBA 7(a) Loan Program
Provides flexible financing options to small businesses in the Bronx through the U.S. Small Business Administration, supporting business growth and job creation.
activities · 11 groups
What they do
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Small Business and Nonprofit Lending 2 activities
- Administer microloan and commercial loan programs for Bronx businessesOffers low-interest, long-term microloan and commercial development loan programs to small- and mid-sized businesses operating in or relocating to the Bronx, including through the SBA 7(a) Loan Program and the Bronx Empowerment Zone initiative, with loans used for equipment purchases, business expansion, and pandemic recovery. Administers two loan programs that require commitments to hire local residents.
- Facilitate access to capital and financial services for small businessesProvides financial services information and assistance to help Bronx businesses secure capital through SBA 7(a), Empowerment Zone, and other small business loan programs, including partnerships with the Business Initiative Corporation of New York to expand access to financing.
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Small Business Technical Assistance 2 activities
- Provide technical assistance and business development support to entrepreneursOffers free business consulting, entrepreneurial assessments, workshops, and technical assistance through the Bronx Small Business Development Center at Lehman College, including help with business model refinement, licensing, permits, disaster loans, and access to capital. Provides specialized support for restaurants and food-related businesses on health compliance, menu development, and marketing.
- Support transitions to employee-owned business modelsProvides resources and guidance to help small businesses in the Bronx transition to employee-owned models, including worker cooperatives and employee stock ownership plans (ESOPs).
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Climate Change Research and Advocacy Funding 1 activity
- Administer the Green Action Challenge grant competitionAdministers a $1 million grant competition for Bronx institutions to develop campus sustainability projects and green operational strategies, awarding funds to winners such as Bronx Community College.
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Environmental Conservation Grantmaking 1 activity
- Award grants to support green and sustainable development projectsFunds environmentally sustainable initiatives by awarding grants such as the $1 million Green Action Challenge grant to Bronx Community College for campus sustainability projects.
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Community Festival & Event Production 1 activity
- Host economic development and community engagement eventsOrganizes annual events including Bronx Week, Tour de Bronx, Savor the Bronx, and the Bronx Economic Development Summit to celebrate and advance economic development, tourism, and community engagement in the borough.
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Youth and Student Entrepreneurship Competitions 1 activity
- Host the BX-Factor small business pitch competition and trainingHosts an annual small business pitch competition awarding a $15,000 cash prize, preceded by a two-part workshop series and training in pitch development, storytelling, presentation skills, and Q&A strategy, including practice sessions with Santander Bank volunteers.
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Neighborhood Revitalization Initiatives 1 activity
- Lead advocacy efforts for public funding and economic development initiativesSecured over $20 million in public grants, including a $20 million Downtown Revitalization Initiative grant for the Greater Morris Park Area and additional funding through collaboration with the Office of the Bronx Borough President, to support small businesses and transformative development projects.
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Regional Tourism Promotion 1 activity
- Operate the Bronx Tourism Council to promote tourismOperates the Bronx Tourism Council to promote tourism through strategic partnerships, community engagement, and events that showcase the borough’s attractions, culture, and history.
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Community and Public Broadcasting Services 1 activity
- Produce media content to promote Bronx businesses and cultureProduces "The Bronx Beat" media segments in partnership with 1010 WINS and the YES Network, aired weekly and on the Yankee Stadium jumbotron, to promote local businesses, cultural institutions, and community events.
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Business Improvement District Management 1 activity
- Support business revitalization and placemaking through BIDs and merchant associationsDelivers technical commercial revitalization assistance to Business Improvement Districts (BIDs) and merchant associations, including support for storefront improvements, public space enhancements, beautification efforts, marketing campaigns, and customer-attracting events.
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Uncategorized 2 activities
- Develop and coordinate the Bronx Comprehensive Economic Development Strategy (CEDS)Co-led a year-long public engagement process involving surveys, focus groups, and public assemblies to develop the first-ever Comprehensive Economic Development Strategy (CEDS) for the Bronx, supported by a U.S. Economic Development Administration planning grant, culminating in the 2024 finalization of the strategy.
- Offer real estate and site selection assistance for Bronx businessesProvides real estate support including site selection, zoning navigation, and coordination with city agencies to help businesses expand or relocate within the Bronx.
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financials · form 990 · fy2024
revenue
Total revenue$3.50M
Contributions & grants$2.57M74%
Program service revenue$99K3%
Investment income$827K24%
Other revenue$420
expenses
Total expenses$3.65M
Program expenses77%
Admin / overhead14%
Fundraising9%
Salaries & benefits$1.41M
Grants paid out$336K
Largest expense lineCompensation
balance sheet
Total assets$26.46M
Cash$2.19M
Investments$20.75M
Liabilities$867K
Net assets$25.59M
Liquid reserves75.3 mo
5 years on record · 2020–2024 · YoY revenue +24.1%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 3
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| Robert Walsh | President | 40 | $230K |
| Angely Orbe | Chief Financial Officer | 40 | $144K |
| Rafael Roger | Board Member | 1 | $20K |
board members · 15
- Brian Smith — Board Member
- Clarence Stanley Jr — Chairman
- Dan Herdoon — Secretary
- Dr Susan L Parish — Board Member
- Eddy Bayardelle PhD — BOARD MEMBER
- Julio E Reyes Jr — Board Member
- Kathy Zamechansky — Vice Chair
- Kevin Kim — Board Member
- Lourdes Zapata — Board Member
- Nallely De Jess — Board Member
- Patricia Simone — Board Member
- Phillip Grant — Board Member
- Vanessa L Gibson — Board Member
- Winston Peters — Board Member
- Yesenia Quinones — Board Member
relationships · 32
Who they work with
- 1010 WINS Partner — Media partner for The Bronx Beat, covering local developments, events, and cultural milestones
- 1010 WINS Partner — Partnership to air a weekly "The Bronx Beat" segment.
- Bronx Business Improvement District (BID) Partner — Collaborates to support businesses in commercial districts through marketing, beautification, and events.
- Bronx Chamber of Commerce Partner — Mobilizes community and private sector partners to develop economic opportunities for Bronx businesses.
- Business Improvement Districts Partner — Collaborates on commercial revitalization efforts including storefront improvements and placemaking
- Business Initiative Corporation of New York Partner — Partnership to expand access to small business loans in The Bronx.
- Business Tech Incubator at CUNY on the Concourse Partner — Collaborates on delivering a workshop series to prepare entrepreneurs for the BX-Factor pitch competition.
- CUNY Bronx Community College Partner — Recipient of $1 million through the Green Action Challenge for environmental initiatives.
- City of New York Government — Funding and program partner in the Bronx Empowerment Zone initiative
- DiNapoli Government — Referenced in a report highlighting economic growth in the South Bronx, indicating a connection to government-affiliated economic analysis or funding oversight.
- Downtown Revitalization Initiative Funder — Provided a $1 million grant for projects in the Greater Morris Park area.
- Empire State Development Corporation Government — Funding and program partner in the Bronx Empowerment Zone initiative
- Governor Kathy Hochul Government — Secured a $20 million Downtown Revitalization Initiative grant from Governor Hochul's administration.
- New York Power Authority Funder — Funded the $1 million Green Action Challenge administered by BXEDC.
- New York Power Authority Funder — Provided a one-million-dollar grant for the Green Action Challenge.
- New York State Assembly Government — Funding partner for economic development programs
- New York Yankees Partner — Collaborates on "The Bronx Beat" segment to promote local businesses.
- Office of the Borough President of the Bronx Government — Primary funder of economic development research, marketing, and business assistance programs
- Office of the Bronx Borough President Government — Collaborates to secure government funding for economic development initiatives.
- Our Bronx Partner — Co-leads the development of the Comprehensive Economic Development Strategy (CEDS) for the Bronx.
- Our Bronx Partner — Partnered with BXEDC to coordinate and finalize the Bronx Comprehensive Economic Development Strategy (CEDS) with support from a U.S. Economic Development Administration planning grant.
- Santander Bank Partner — Provides volunteers to help finalists practice their pitches ahead of the competition.
- Small Business Administration Partner — Collaborates on the SBA 7(a) Loan Program to expand access to capital for Bronx small businesses
- The Bronx Small Business Development Center at Lehman College Partner — Provides free business consulting and permitting guidance to small businesses in the Bronx.
- The Bronx Times Partner — Media partner that featured a BXEDC client in coverage.
- The Bronx Tourism Council Partner — Partnership supporting marketing and promotion efforts for Bronx institutions.
- The South Bronx Economic Development Corporation (SoBro) Partner — Works on economic, housing, educational, and career development programs in the South Bronx.
- U.S. Economic Development Administration Government — Federal agency providing support for the Comprehensive Economic Development Strategy (CEDS) initiative.
- U.S. Economic Development Administration Government — Provided a planning grant to BXEDC and Our Bronx to support the development and finalization of the Bronx Comprehensive Economic Development Strategy.
- United States Department of Housing and Urban Development Government — Funding and program partner in the Bronx Empowerment Zone initiative
+ 2 more
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.
- Community-Driven Economic Developmentmethodology: community_driven_planningBy centering long-term, community-led planning and cross-institutional collaboration in economic development initiatives, we produce more equitable and sustainable outcomes because local ownership ensures relevance, resilience, and shared benefit.
- Conditional Financing for Local Hiringmethodology: conditional_financing_for_local_hiringBy tying low-interest, long-term loan financing to the requirement that businesses hire local residents, we increase job creation in the Bronx because financial incentives are directly linked to community employment outcomes.
- Employee Ownership for Wealth Retentionmethodology: employee_ownership_developmentBy supporting transitions to employee ownership models, we promote long-term business sustainability and local wealth retention because it keeps economic value and decision-making power within the community.