2024-05-08T15:31:22-05:00 2023-06-30 812950760 SAX LLP 1040 AVENUE OF THE AMERICAS 16TH FLOOR NEW YORK NY 10018 990 2022-07-01 112508370 SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION SOUT 7189653100 241 41ST STREET BROOKLYN NY 11232 JESSE SOLOMON EXECUTIVE DIRECTOR 7189653100 2024-05-08 1 JESSE SOLOMON 999009999 0 MIKE SCHALL P02024184 2122682804 2024-05-06 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JESSE SOLOMON 241 41ST STREET BROOKLYN NY 11232 1138619 0 X WWW.SBIDC.ORG X 1978 NY SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION (SBIDC) PROVIDES ADVOCACY AND SERVICES TO HELP BUSINESSES IN THE SUNSET PARK, RED HOOK AND GOWANUS NEIGHBORHOODS GROW AND CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS. 16 16 10 16 0 0 1185513 1101233 0 0 0 0 12256 10229 1197769 1111462 0 0 0 0 648319 627549 0 0 45307 408651 411356 1056970 1038905 140799 72557 536412 675859 58420 125310 477992 550549 X SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION (SBIDC) PROVIDES ADVOCACY AND SERVICES TO HELP BUSINESSES IN THE SUNSET PARK, RED HOOK AND GOWANUS NEIGHBORHOODS GROW AND CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS. 0 0 825524 SEE SCHEDULE OAS WE HAVE SINCE 1978, SBIDC HAS WORKED TIRELESSLY TO ENSURE THAT THE INDUSTRIAL CORE OF SOUTHWEST BROOKLYN REMAINS STRONG AND THAT IT REMAINS A CENTER OF OPPORTUNITY FOR WORKERS THROUGHOUT THE AREA. OUR UNIQUE COMBINATION OF DIRECT BUSINESS SERVICES, WORKFORCE DEVELOPMENT AND TRAINING, ENTREPRENEURSHIP TRAINING, COMMUNITY PLANNING AND REVITALIZATION, AND ADVOCACY HELPED BUSINESSES THROUGHOUT SOUTHWEST BROOKLYN THRIVE IN A MARKET AND A CITY THAT CAN BE CHALLENGING FOR MANUFACTURERS AND OTHER INDUSTRIAL BUSINESSES. CHALLENGES INCLUDE A COMPETITIVE REAL ESTATE MARKET THAT PRIORITIZES RESIDENTIAL AND COMMERCIAL TENANTS OVER INDUSTRIAL ONES; SUPPLY CHAIN CHALLENGES THAT STILL LINGER FROM THE PANDEMIC; AND A COMPETITIVE LABOR MARKET.SINCE JULY 2022, SBIDC SUPPORTED OVER 300 INDUSTRIAL EMPLOYERS SEEKING HELP WITH COMPLEX FINANCING PROGRAMS, NEW BUSINESS DEVELOPMENT OPPORTUNITIES, RECRUITING EMPLOYEES, NAVIGATING GOVERNMENT REGULATIONS, AND LARGE-SCALE REZONING PROPOSALS IN BROOKLYN. SBIDC SHIFTED OUR BUSINESS EDUCATION PROGRAMMING TO FOCUS ON BUSINESS DEVELOPMENT STRATEGIES TO HELP BUSINESSES THAT SAW AN OPPORTUNITY IN 2021 AND 2022 TO PIVOT THEIR OPERATIONS. MANY OF OUR BUSINESSES, FOR EXAMPLE, SHIFTED FROM A RETAIL MODEL TO A WHOLESALE MODEL, AND SBIDC WAS THERE TO HELP THEM THROUGH THAT CHANGE. WE OFFERED TWO SEMESTERS OF OUR PLAN FOR GROWTH BUSINESS EDUCATION COURSE, AN 8-WEEK PROGRAM THAT HELPS MWBES AND DBES CREATE A PLAN FOR GROWTH. THE PROGRAM INCLUDED COURSES ON MARKETING, FINANCING, CHART OF ACCOUNTS, CUSTOMER DISCOVERY, AND MORE. WE ALSO HOSTED FOUR WEBINARS ON CREDIT COUNSELING AND ACCESSING FINANCING THROUGHOUT THE YEAR. FINALLY, WE HOSTED THREE LARGE NETWORKING EVENTS FOR SMALL BUSINESSES. WE GRADUATED 30 BUSINESSES FROM THESE PLAN FOR GROWTH COHORTS. TO DATE, THE PROGRAM HAS GRADUATED OVER 150 BUSINESS OWNERS. SBIDC'S WORKFORCE 1 CENTER MAINTAINED IN-PERSON SERVICES, AND HELPED PLACE 173 PEOPLE IN FULL-TIME, PERMANENT INDUSTRIAL AND MANUFACTURING JOBS IN FISCAL YEAR 2023. THE SBIDC TEAM PROVIDED CAREER SERVICES TO OVER 1,600 NEW YORKERS. ADDITIONALLY, IN THE SPRING OF 2023, SBIDC PARTNERED WITH TWO OTHER ORGANIZATIONS TO OFFER A CUSTOMIZED TRAINING PROGRAM FOR THE CONSTRUCTION INDUSTRY. OUR TWO-WEEK PROGRAM, CORE FIVE, TRAINED 20 PEOPLE IN INTRODUCTORY CONSTRUCTION SKILLS. PARTICIPANTS RECEIVED FIVE CREDENTIALS CRUCIAL FOR THE CONSTRUCTION INDUSTRY JOB MARKET, INCLUDING OSHA 30. SBIDC WILL OFFER A SECOND COHORT OF THIS PROGRAM IN THE FALL OF 2024.SBIDC CONTINUED TO ADVOCATE FOR THE INDUSTRIAL WORKING WATERFRONT. WE SIGNED A COMMUNITY BENEFITS AGREEMENT WITH 300 HUNTINGTON LLC (MONADNOCK CONSTRUCTION), TO ENSURE 10,000 SQ FT OF BRAND-NEW INDUSTRIAL SPACE IN A NEW BUILDING IN GOWANUS. AS THE GOWANUS NEIGHBORHOOD CONTINUES TO CHANGE DUE TO AN AREA-WIDE REZONING, SBIDC HELPED PROTECT PART OF THIS HISTORIC INDUSTRIAL WATERFRONT WITH THIS DEAL. WE WERE ABLE TO PLACE A WOMAN-OWNED MANUFACTURING BUSINESS INTO THE NEW SPACE. OUR ADVOCACY EFFORTS ALSO INCLUDED WORK WITH THE NYC DEPARTMENT OF TRANSPORTATION TO ASSESS HOW BUSINESSES USE THE INDUSTRIAL CORRIDOR OF 3RD AVENUE IN BROOKLYN. THIS WORK WILL CONTINUE INTO FY24. 825524 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 10 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X JESSE SOLOMON 7189653100 241 41ST STREET BROOKLYN NY 11232 JEFFREY LEE ROMERO CHAIRMAN 2.00 X X 0 0 0 DAVID J SWEENY VICE CHAIRMAN 2.00 X X 0 0 0 HOWARD SMITH JR SECRETARY 2.00 X X 0 0 0 SUSAN FERMISCO TREASURER 2.00 X X 0 0 0 IRINA CONSTANTINE MEMBER 2.00 X 0 0 0 MICHAEL DIMARINO MEMBER 2.00 X 0 0 0 PAUL GEVERTZMAN MEMBER 2.00 X 0 0 0 BLAKE TOMNITZ MEMBER 2.00 X 0 0 0 EILEEN THORNTON MEMBER 2.00 X 0 0 0 STEPHEN GIUMENTA MEMBER 2.00 X 0 0 0 CHRISTOPHER MURTHA MEMBER 2.00 X 0 0 0 ALAN PETRILLI MEMBER 2.00 X 0 0 0 MICHAEL JEFFREY SPINNER MEMBER 2.00 X 0 0 0 ALAN SAGE MEMBER 2.00 X 0 0 0 MIKE STAMATIS MEMBER 2.00 X 0 0 0 LIZ DEMETRIOU MEMBER 2.00 X 0 0 0 SAMARA DALY MEMBER (FORMER) 2.00 X 0 0 0 LORNA MONTALVO MEMBER (FORMER) 2.00 X 0 0 0 MARK FOGGIN MEMBER (FORMER) 2.00 X 0 0 0 JESSE SOLOMON EXECUTIVE DIRECTOR 40.00 X 115399 0 0 115399 0 0 1 0 0 0 0 213335 572842 315056 1101233 27157 213335 27157 0 OTHER SUPPORT 900099 10229 10229 10229 1111462 0 0 10229 137583 124261 13322 386816 378439 8377 4761 4571 190 58779 57150 1629 39610 38026 1584 105316 105316 155295 110145 20290 24860 34578 17565 5699 11314 16192 15544 648 6721 6452 269 16800 16128 672 2587 2107 480 9413 9036 377 OTHER 25604 17204 8400 UTILITIES 13534 12993 541 JOB POSTINGS 9192 9192 SPECIAL EVENT EXPENSE 9133 9133 6991 6711 280 1038905 825524 168074 45307 175876 175622 69379 48360 282014 442861 9143 9016 211632 211632 0 0 536412 675859 58420 125310 58420 125310 X 457992 500549 20000 50000 477992 550549 536412 675859 72557 0 X 0 1 X 1 0 X 1000303 58013 1153981 1185513 1359019 4756829 1000303 58013 1153981 1185513 1359019 4756829 171946 4584883 25268 402 21355 12256 10229 69510 4826339 0.95000 0.94970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 96434 96434 0 63599 63599 0 51599 51599 0 0 X 1111462 0 1111462 0 1111462 1038905 0 1038905 0 1038905 PART X, LINE 2: SBIDC DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL, UNCERTAIN TAX POSITIONS. TAX FILINGS FOR PERIODS ENDING MAY 31, 2020 AND LATER ARE SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. ANNUAL EVENT 240492 213335 27157 27157 240492 213335 27157 27157 27157 0 FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWED A DRAFT OF THE FORM 990 WITH THE AUDIT/FINANCE COMMITTEE AND PROVIDED EDITS TO THE TAX PREPARER. AFTER THIS PROCESS WAS PERFORMED, THE FORM 990 WAS SENT TO THE FULL BOARD OF DIRECTORS PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A BOARD APPROVED CONFLICTS OF INTEREST POLICY. EACH BOARD MEMBER MUST FILL OUT AN ANNUAL DECLARATION STATING THEY HAD NO CONFLICTS OR IDENTIFYING THE NATURE OF THEIR INTERESTED PARTY TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15A EACH YEAR, THE EXECUTIVE COMMITTEE REVIEWS COMPARABLE SALARIES BASED ON A RECOGNIZED STUDY AND REVIEWS THE PERFORMANCE OF OTHER OFFICERS AND KEY EMPLOYEES TO DETERMINE IF THE EXISTING SALARY FALLS WITHIN THESE RANGES. AFTER A DELIBERATION OF THIS MATTER, A NEW PROPOSED SALARY AND BENEFIT PACKAGE IS VOTED ON. THE MINUTES OF THE BOARD OF DIRECTORS REFLECT THE NATURE OF THIS PROCESS. EACH YEAR, THE EXECUTIVE COMMITTEE REVIEWS COMPARABLE SALARIES BASED ON A RECOGNIZED STUDY AND REVIEWS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR TO DETERMINE IF THE EXISTING SALARY FALLS WITHIN THESE RANGES. AFTER A DELIBERATION OF THIS MATTER, A NEW PROPOSED SALARY AND BENEFIT PACKAGE IS VOTED ON. THE MINUTES OF THE BOARD OF DIRECTORS REFLECT THE NATURE OF THIS PROCESS. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATIONAL DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.