2024-10-30T09:11:02-05:00 2023-12-31 873707167 CBIZ MARKS PANETH LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2023-01-01 133946529 RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION RENA 2129646022 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 THOMAS YU PRESIDENT/ED 2129646022 2024-10-28 1 1 MAGDALENA CZERNIAWSKI P00535099 2125038800 2024-10-28 2023 2024-10-15 13:58:12Z THOMAS YU 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 4156338 0 X WWW.RENAISSANCE-NY.ORG X 1997 NY RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION PROVIDES DIRECT FINANCING AND TECHNICAL ASSISTANCE SERVICES THROUGHOUT NEW YORK CITY. RENAISSANCE FOCUSES ON LOW-INCOME, IMMIGRANT NEIGHBORHOODS WHERE THE BARRIERS OF LANGUAGE, CULTURE AND CONVENTIONAL LOAN UNDERWRITING HAVE STYMIED THE GROWTH OF SMALL BUSINESSES. UNDERPINNING ALL OF RENAISSANCE'S LENDING ACTIVITY IS A COMMITMENT TO INCREASE BUSINESS OPPORTUNITIES FOR LOW-INCOME, MINORITY, WOMEN, AND IMMIGRANT ENTREPRENEURS. 9 8 36 8 0 0 3866453 2862492 539706 1067625 24572 60781 -209224 116695 4221507 4107593 0 0 0 0 2156780 2947165 0 0 365459 1471859 2176368 3628639 5123533 592868 -1015940 31291579 32593576 11736506 14054443 19555073 18539133 X RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION PROVIDES DIRECT FINANCING AND TECHNICAL ASSISTANCE SERVICES THROUGHOUT NEW YORK CITY. RENAISSANCE FOCUSES ON LOW-INCOME, IMMIGRANT NEIGHBORHOODS WHERE THE BARRIERS OF LANGUAGE, CULTURE AND CONVENTIONAL LOAN UNDERWRITING HAVE STYMIED THE GROWTH OF SMALL BUSINESSES. UNDERPINNING ALL OF RENAISSANCE'S LENDING ACTIVITY IS A COMMITMENT TO INCREASE BUSINESS OPPORTUNITIES FOR LOW-INCOME, MINORITY, WOMEN, AND IMMIGRANT ENTREPRENEURS. 0 0 2314935 1067625 SMALL BUSINESS LOANS PROGRAM - REDC LENDS MONEY TO SMALL BUSINESSES IN ITS TARGET COMMUNITIES. MANY OF THESE SMALL BUSINESS BORROWERS OPERATE BUSINESS IN THE RETAIL, WHOLESALE, RESTAURANT, AND CERTAIN PERSONAL SERVICE INDUSTRIES WITH THEIR PRIMARY BUSINESS OPERATIONS LOCATED IN MANHATTAN, QUEENS, AND BROOKLYN. 1864427 TECHNICAL ASSISTANCE & EDUCATION - REDC PROVIDES TARGETED TECHNICAL ASSISTANCE TO LOW INCOME, MINORITY, WOMEN AND IMMIGRANT ENTREPRENEURS & SMALL BUSINESS OWNERS, HELPING THEM TO OVERCOME TRADITIONAL IMPEDIMENTS TO BUSINESS GROWTH AND SUCCESS. REDC SPECIALIZES IN SERVING BUSINESSES IN ITS TARGET MARKETS THAT BANKS AND GOVERNMENT PROGRAMS CANNOT SERVE, SUCH AS LOW INCOME, START-UP, THINLY CAPITALIZED ENTERPRISES WHOSE OWNERS ARE OFTEN HOBBLED BY POOR OR NON-EXISTENT ENGLISH SKILLS AND UNFAMILIARITY WITH THE BANKING SYSTEM IN THIS COUNTRY. 4179362 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 17 0 1 36 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X THOMAS YU PRESIDENTED 2129646022 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 KYLE FOLEY BOARD MEMBER 0.30 X 0 0 0 MARY LIU BOARD MEMBER (OUTGOING) 0.40 X 63613 0 22640 PEGGY CHAN TREASURER 0.30 X X 0 0 0 PING DANG BOARD MEMBER (OUTGOING) 0.30 X 0 0 0 RAYMOND LOU SECRETARY 1.00 X X 0 0 0 THOMAS YU PRESIDENT/EXECUTIVE DIRECTOR 1.00 39.00 X X 0 279045 66264 TIMOTHY WONG BOARD MEMBER 1.00 X 0 0 0 TURNEY SINGH BABA BOARD MEMBER 1.00 X 0 0 0 GIGI LAU GILSINAN BOARD MEMBER 1.00 X 0 0 0 MICHAEL LEE BOARD MEMBER 1.00 X 0 0 0 TONY LIN BOARD MEMBER 1.00 X 0 0 0 JESSIE LEE MANAGING DIRECTOR 35.00 5.00 X 175773 0 25098 JOY SUZANNE GRANADO CFO 1.00 37.00 X 0 192545 28045 JANNIE LAI DIRECTOR OF PROGRAMS 40.00 X 116593 0 38093 VERONIQUE MARCUS DIRECTOR OF PROGRAMS 40.00 X 124567 0 4541 480546 471590 184681 3 0 1 0 0 2264899 597593 2862492 ADMIN. FEE AND OTHER 541900 589389 589389 LOAN INTEREST 900099 478236 478236 1067625 60781 60781 165440 48745 116695 116695 116695 4107593 1067625 0 177476 287105 107633 104801 74671 2080654 1817910 153208 109536 62102 54354 4748 3000 308463 277653 21160 9650 208841 173659 21840 13342 225103 102979 48951 73173 110596 75404 20088 15104 490471 334403 89085 66983 70458 62587 7871 168752 149899 18853 237053 217040 20013 33191 20014 13177 173822 141587 32235 116355 103357 12998 24493 21757 2736 BAD DEBTS 391880 391880 LEGAL SETTLEMENT 72000 72000 MISCELLANEOUS 47301 42017 5284 EQUIPMENT RENTAL 14893 13229 1664 5123533 4179362 578712 365459 3090619 5486266 135000 993168 562449 5953994 8502252 13641 60535 1974521 745370 1343587 1229151 19761570 16752923 31291579 32593576 478879 607511 1471158 3727601 5986508 6713493 3709961 3000000 90000 5838 11736506 14054443 X 16069201 16399071 3485872 2140062 19555073 18539133 31291579 32593576 -1015940 0 X X 0 1 X 1 1 1 X 1477851 5787757 4494801 3866453 2862492 18489354 1477851 5787757 4494801 3866453 2862492 18489354 2602505 15886849 113122 69773 28524 63372 60781 335572 18824926 4474145 0.84390 0.83750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1669600 499796 1169804 103810 76196 27614 201111 169378 31733 1229151 DUE FROM AFFILIATES 8086130 LOAN LOSS RESERVE 489278 RESTRICTED CASH 8177515 16752923 DUE TO AFFILIATES 5838 5838 X 4156338 0 4156338 -48745 -48745 4107593 5172278 48745 48745 5123533 0 5123533 PART X, LINE 2: REDC BELIEVES IT HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022 N ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSE ON SUBLEASE OFFSET AGAINST RENT INCOME -48,745. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSE ON SUBLEASE OFFSET AGAINST RENT INCOME 48,745. X X 0 0 0 0 0 0 0 0 0 THOMAS YU PRESIDENT/EXECUTIVE DIRECTOR 0 279045 0 0 0 0 0 9754 0 56510 0 345309 0 0 JOY SUZANNE GRANADO CFO 0 192545 0 0 0 0 0 7616 0 20429 0 220590 0 0 JESSIE LEE MANAGING DIRECTOR 175773 0 0 0 0 0 7221 0 17877 0 200871 0 0 0 JANNIE LAI DIRECTOR OF PROGRAMS 116593 0 0 0 0 0 5153 0 32940 0 154686 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS ASIAN AMERICAN FOR EQUALITY. FORM 990, PART VI, SECTION A, LINE 7A ASIAN AMERICANS FOR EQUALITY, INC., BEING THE SOLE MEMBER, IS ENTITLED TO APPOINT THE DIRECTORS; PROVIDED, HOWEVER, THAT IN THE EVENT THAT ADDITIONAL PERSONS ARE ACCEPTED AS MEMBERS OF THE CORPORATION PURSUANT TO SECTION 2.2 OF THE ORGANIZATION'S BY-LAWS, THE NUMBER OF DIRECTORS TO BE APPOINTED BY EACH MEMBER MAY BE REAPPORTIONED BY A FAVORABLE ACTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING CORPORATE ACTIONS MAY NOT BE TAKEN WITHOUT THE APPROVAL OF THE MEMBERS: (1) ANY AMENDMENT OF OR CHANGE TO THE CERTIFICATE OF INCORPORATION OR (2) A PETITION FOR JUDICIAL DISSOLUTION; (3) DISPOSING OF ALL, OR SUBSTANTIALLY ALL, OF THE ASSETS OF THE CORPORATION, (4) APPROVAL OF A PLAN OF MERGER, (5) AUTHORIZATION OF A PLAN OF NON-JUDICIAL DISSOLUTION, OR (6) REVOCATION OF A VOLUNTARY DISSOLUTION PROCEEDING. (7) REMOVE ANY DIRECTOR ANY TIME WITH OR WITHOUT CAUSE BY VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT. AT LEAST 7 DAYS PRIOR TO FILING, THE ORGANIZATION DISTRIBUTES A DRAFT FORM 990 TO THE BOARD FOR REVIEW. FIVE DAYS ARE ALLOWED FOR FEEDBACK, THROUGH THE BOARD TREASURER, BEFORE FORM 990 IS FINALIZED AND FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO THE BOARD FOR THEIR RECORDS. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND OFFICERS ARE ISSUED WITH A COPY OF THE CURRENT CONFLICT OF INTEREST POLICY ON APPOINTMENT AND ANNUALLY THEREAFTER. DIRECTORS AND OFFICERS COMPLETE ANNUAL DECLARATIONS TO EITHER CONFIRM NO CONFLICTS OR INDENTIFY POSSIBLE AND/OR ACTUAL CONFLICTS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST TO ANY BOARD MEMBER. THESE DOCUMENTS ARE MAINTAINED AT THE ORGANIZATION'S REGISTERED OFFICE. FORM 990, PART XI, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 4 NYC HOUSING INC 141 NORFOLK STREET NEW YORK NY 10002 821711103 PROMOTE COMMON GOOD AND WELFARE AND ECONOMIC DEVELOPMENT IN NEW YORK NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 AAFE COMMUNITY DEVELOPMENT FUND INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 134103352 PROVIDES TECHNICAL ASSISTANCE AND AFFORDABLE SECOND MORTAGEGE LOANS NY 501(C)(3) LINE 7 ASIAN AMERICANS FOR EQUALITY INC 0 AAFE FAIR HOUSING CENTER INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 133943782 LEASE OFFICE SPACE IN THE JACKSON HEIGHTS NEIGHBORHOOD OF QUEENS NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 AAFE NEW AMERICANS OPPORTUNITY FUND INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 814698636 PROMOTE COMMON GOOD AND WELFARE AND ECONOMIC DEVELOPMENT IN NEW YORK NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 ASIAN AMERICAN HOUSING DEVELOPMENT FUND COMPANY INC 141 NORFOLK STREET NEW YORK NY 10002 133376278 PROVIDES AFFORDABLE HOUSING DEVELOPMENT AND PRESERVATION NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 ASIAN AMERICANS FOR EQUALITY INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 133187792 TO ADVANCES THE RIGHTS OF ASIAN AMERICANS AND ALL THOSE IN NEED NY 501(C)(3) LINE 7 N/A 0 BREMOND KING DAVIS HOUSING DEVELOPMENT FUND CORPORATION 108 NORFOLK ST NEW YORK NY 10002 473791580 DEVELOPING A HOUSING PROJECT FOR LOW-INCOME FAMILIES NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 CHINATOWN PRESERVATION HOUSING DEVELOPMENT FUND COMPANY INC 141 NORFOLK STREET NEW YORK NY 10002 161755393 DEVELOPING AND PRESERVING HOUSING PROJECTS FOR LOW INCOME FAMILIES NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 COMMUNITY HOMES HOUSING DEVELOPMENT FUND COMPANY INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 134145926 PROMOTES HOME OWNERSHIP FOR MINORITY AND UNDERSERVED POPULATIONS NY 501(C)(3) LINE 10 ASIAN AMERICANS 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900098029 PROVIDES IMMIGRANT HOUSING AND SOCIAL SERVICES NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 RIVINGTON HOUSING DEVELOPMENT FUND COMPANY INC 141 NORFOLK STREET NEW YORK NY 10002 571230118 DEVELOPING A HOUSING PROJECT FOR LOW-INCOME FAMILIES NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 STANTON NORFOLK INC 141 NORFOLK STREET NEW YORK NY 10002 261880608 MANAGING ALL OF ITS PARENT ORGANIZATION, AAFE'S HOUSING DEVELOPMENTS NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 CHELSEA APTS HOUSING DEVELOPMMENT FUND CORP 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 320676960 DEVELOPING A HOUSING PROJECT FOR LOW-INCOME FAMILIES NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 73 LOISAIDA HOUSING DEVELOPMENT FUND CORP 108 NORFOLK ST NEW YORK NY 10002 933417619 PROVIDES AFFORDABLE HOUSING DEVELOPMENT AND PRESERVATION NY 501(C)(3) LINE 10 ASIAN AMERICANS FOR EQUALITY INC 0 NORFOLK APARTMENTS LP 141 NORFOLK STREET NEW YORK NY 10002 133952058 NY N/A 0 0 NORFOLK APARTMENTS II LP 141 NORFOLK STREET NEW YORK NY 10002 134185980 NY N/A 0 0 EAST VILLAGE HOMES 302 EAST 2ND STREET NEW YORK NY 10009 834679494 PROVIDE AFFORDABLE RENTAL HOUSING NY N/A 0 0 BREMOND KING DAVIS LLC 108 NORFOLK STREET NEW YORK NY 10002 473857307 PROVIDE AFFORDABLE RENTAL HOUSING NY N/A 0 0 AAFE NEW AMERICAN OPPORTUNITY FUND 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 814698636 PROMOTE COMMON GOOD, WELFARE, AND ECONOMIC DEVELOPMENT IN NY NY N/A C 0 HARMONY 106 CORP 141 NORFOLK STREET NEW YORK NY 10002 474677213 RENOVATION OF FLUSHING, NY PROPERTY NY N/A C 0 ONE FLUSHING NP LLC 141 NORFOLK STREET NEW YORK NY 10002 474487628 RENOVATION OF FLUSHING, NY PROPERTY NY N/A C 0 EAST VILLAGE HOMES MANAGER CORP 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 842532839 HOLDING COMPANY NY N/A C 0 EAST VILLAGE HOUSING DEVELOPMENT FOUND COMPANY INC 2 ALLEN STREET 7TH FLOOR NEW YORK NY 10002 841971812 HOLDING COMPANY NY N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0