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47TH STREET BUSINESS IMPROVEMENT DISTRICT INC

NEW YORK, NY · EIN 133944300 · Form 990 · FY2024 · NTEE S31 · Community Improvement · Medium ($1M-$10M)
revenue
$1.5M
expenses
$1.3M
net assets
$880K
employees
1
volunteers
25
program ratio
91%
mission · from form 990

TO PROVIDE SECURITY, SANITATION AND MARKETING SERVICES TO JEWELRY MERCHANTS IN THE DIAMOND DISTRICT.

profile · synthesized from sources

47th Street Business Improvement District Inc. supports jewelry merchants in New York City's Diamond District by funding enhanced security, sanitation, and marketing initiatives. The organization coordinates with the NYPD for supplemental police presence and manages promotional campaigns to attract residents and tourists. Services are concentrated in a defined urban commercial zone.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

  1. #1 primary $964K
    SECURITY - PROVIDING INCREASED SECURITY THOUGHT A COMBINATION OF NEW CITY POLICE OFFICERS BEING PAID THOUGH THE NEW YORK CITY'S PAID DETAIL UNIT OF THE NYPD AND A CLOSE WORKING RELATIONSHIP WITH THE NEW YORK CITY POLICE DEPARTMENT FOR SUPPLEMENTAL PRIVATE SECURITY SERVICES.
  2. #2 $116K
    PROMOTION - PROMOTING NEW YORK CITY ICONIC DIAMOND DISTRICT TO RESIDENTS AND TOURIST THROUGH ADVERTISING AND EVENTS HELD WITHIN THE THE DIAMOND DISTRICT
named programs · 2 · from sources

What they call their work

Promotion
Markets the New York City Diamond District to residents and tourists via advertising and local events.
Security
Provides increased security through paid NYPD officer details and coordination with the New York City Police Department for supplemental private security services.
activities · 2 groups

What they do

  • Community Safety Patrols & Security Support 1 activity
    • Contracting for supplemental security services in the Diamond District
      Funds NYPD paid detail officers and supplements with private security services, in coordination with the New York City Police Department, to increase public safety and security in the 47th Street Diamond District.
  • Regional Tourism Promotion 1 activity
    • Promoting the New York City Diamond District through advertising and events
      Conducts advertising campaigns and hosts events aimed at promoting the New York City Diamond District to residents and tourists to support local business vitality.
financials · form 990 · fy2024
revenue
Total revenue$1.48M
Contributions & grants$46K3%
Program service revenue$1.40M95%
Investment income$34K2%
Other revenue$0
expenses
Total expenses$1.34M
Program expenses91%
Admin / overhead9%
Fundraising0%
Salaries & benefits$99K
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$932K
Cash$859K
Investments$0
Liabilities$52K
Net assets$880K
Liquid reserves7.7 mo
6 years on record · 2019–2024 · YoY revenue +2.9%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
FERTIG AVI EXECUTIVE DIRECTOR 40 $152K
board members · 24
  • ADNAN AYDIN — SECRETARY
  • BEN KRISCHER — DIRECTOR
  • BRAD LANDER — DIRECTOR
  • BRUNILDA KATSICHTIS — DIRECTOR
  • CHRIS IPEK — DIRECTOR
  • DENNIS MARLOW — DIRECTOR
  • ELLIOT KRISCHER — DIRECTOR
  • EMILY BUKUCUYAN — DIRECTOR
  • GARY BARNETT — DIRECTOR
  • GARY WEINSHANK — DIRECTOR
  • HARVEY NAGIN — PRESIDENT
  • ILAN ELISHAYEV — DIRECTOR
  • JACK ELO — DIRECTOR
  • JAY HOLZER — DIRECTOR
  • JOHN MAGZALCIOGLU — DIRECTOR
  • JULES FLEISCHER — DIRECTOR
  • KEITH POWERS — DIRECTOR
  • LINDA ANISHERE — DIRECTOR
  • MARK LEVINE — DIRECTOR
  • MAYOR ERIC ADAMS — DIRECTOR
  • MICHAEL OISTACHER — DIRECTOR
  • MICHAEL TOBACK — DIRECTOR
  • RONNIE VANDERLINDEN — DIRECTOR
  • S DAVID BELSKY — DIRECTOR
relationships · 1

Who they work with

  • New York City Police Department Partner — Collaborates on security services through the NYPD's Paid Detail Unit and supplemental coordination.
strategies · 2

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.

  • Place-Based Marketing and Activation
    methodology: place-based_marketing_and_activation
    By promoting the Diamond District as a destination through advertising and public events, we increase foot traffic and economic activity because targeted visibility drives consumer engagement and merchant sales.
  • Public-Private Security Partnership
    methodology: public-private_security_partnership
    By funding NYPD paid detail officers and coordinating with public police resources, we improve safety in the Diamond District because integrated security presence reduces crime and increases merchant confidence.