Nonprofit · EIN 11-2508370
SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION
Tax-exempt · BROOKLYN, NY 11232
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,330,734 | $1,414,788 | -$84,054 | $1,954,999 | $618,523 | $1,336,476 |
| June 30, 2024 | 990 | $2,072,854 | $1,202,873 | $869,981 | $1,600,101 | $179,571 | $1,420,530 |
| June 30, 2023 | 990 | $1,111,462 | $1,038,905 | $72,557 | $675,859 | $125,310 | $550,549 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,212,343
- of which government grants
- $900,381
- Membership dues
- $16,462
- Program service revenue
- $0
- Investment income
- $83
- Net rental income
- $3,000
- Net income from fundraising events
- $115,308
- Other revenue
- $118,308
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $181,726
- Other salaries and wages
- $534,551
- Salaries, compensation and benefits (total)
- $845,572
- Professional fundraising fees
- $0
- Accounting fees
- $99,080
- Occupancy
- $68,334
- Travel
- $1,636
- Depreciation
- $2,589
- Program services (functional)
- $1,129,671
- Management and general (functional)
- $254,416
- Fundraising (functional)
- $30,701
Balance sheet and other
- Total assets, start of year
- $1,600,101
- Total assets, end of year
- $1,954,999
- Total liabilities, end of year
- $618,523
- Net assets, end of year
- $1,336,476
- Land, buildings and equipment
- $13,290
- Net assets without donor restrictions
- $745,913
- Net assets with donor restrictions
- $590,563
- Gross receipts
- $1,400,911
- Employees
- 0
- Volunteers
- 14
- Year formed
- 1978
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JESSE SOLOMON | EXECUTIVE DIRECTOR Officer | 40 | $154,838 | $28,641 |
| JEFFREY LEE ROMERO | CHAIRPERSON Trustee or director, Officer | 2 | $0 | $0 |
| ELIZABETH DEMETRIOU | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| SUSAN FERMISCO | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| MICHAEL DIMARINO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| PAUL GEVERTZMAN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| STEPHEN GIUMENTA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHRISTOPHER MURTHA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL JEFFREY SPINNER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| EILEEN THORNTON VAZQUEZ | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BLAKE TOMNITZ | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ALAN PETRILLI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ALAN SAGE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MIKE STAMATIS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| IRINA CONSTANTINE | DIRECTOR (THRU SEPT 2024) Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2024: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JESSE SOLOMON | EXECUTIVE DIRECTOR Officer | 40 | $120,275 | $16,184 |
| JEFFREY LEE ROMERO | CHAIRPERSON Trustee or director, Officer | 2 | $0 | $0 |
| DAVID SWEENY | VICE CHAIR (THRU MARCH) Trustee or director, Officer | 2 | $0 | $0 |
| ELIZABETH DEMETRIOU | SECRETARY (FROM JANUARY) Trustee or director, Officer | 2 | $0 | $0 |
| HOWARD SMITH JR | SECRETARY (THRU DECEMBER) Trustee or director, Officer | 2 | $0 | $0 |
| SUSAN FERMISCO | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| IRINA CONSTANTINE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| PAUL GEVERTZMAN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| STEPHEN GIUMENTA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHRISTOPHER MURTHA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL JEFFREY SPINNER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| EILEEN THORNTON VAZQUEZ | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BLAKE TOMNITZ | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ALAN PETRILLI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ALAN SAGE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MIKE STAMATIS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL DIMARINO | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2023: 20 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JESSE SOLOMON | EXECUTIVE DIRECTOR Officer | 40 | $115,399 |
| JEFFREY LEE ROMERO | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| DAVID J SWEENY | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 |
| HOWARD SMITH JR | SECRETARY Trustee or director, Officer | 2 | $0 |
| SUSAN FERMISCO | TREASURER Trustee or director, Officer | 2 | $0 |
| IRINA CONSTANTINE | MEMBER Trustee or director | 2 | $0 |
| MICHAEL DIMARINO | MEMBER Trustee or director | 2 | $0 |
| PAUL GEVERTZMAN | MEMBER Trustee or director | 2 | $0 |
| BLAKE TOMNITZ | MEMBER Trustee or director | 2 | $0 |
| EILEEN THORNTON | MEMBER Trustee or director | 2 | $0 |
| STEPHEN GIUMENTA | MEMBER Trustee or director | 2 | $0 |
| CHRISTOPHER MURTHA | MEMBER Trustee or director | 2 | $0 |
| ALAN PETRILLI | MEMBER Trustee or director | 2 | $0 |
| MICHAEL JEFFREY SPINNER | MEMBER Trustee or director | 2 | $0 |
| ALAN SAGE | MEMBER Trustee or director | 2 | $0 |
| MIKE STAMATIS | MEMBER Trustee or director | 2 | $0 |
| LIZ DEMETRIOU | MEMBER Trustee or director | 2 | $0 |
| SAMARA DALY | MEMBER (FORMER) Trustee or director | 2 | $0 |
| LORNA MONTALVO | MEMBER (FORMER) Trustee or director | 2 | $0 |
| MARK FOGGIN | MEMBER (FORMER) Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 4223 1ST AVE FL 2, BROOKLYN, NY 11232-3313
- Principal officer (990 for 2024)
- JESSE SOLOMON, 4223 1ST AVENUE 2, BROOKLYN, NY 11232
- Signed the 990
- JESSE SOLOMON, EXECUTIVE DIRECTOR
- Phone
- (718) 965-3100
- Website
- SBIDC.ORG
- Return prepared by
- WEGNER CPAS LLP
Mission
SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION PROVIDES ADVOCACY AND SERVICES TO HELP BUSINESSES IN THE SUNSET PARK, RED HOOK AND GOWANUS NEIGHBORHOODS GROW AND CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS.
Program accomplishments
- AS 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; RISING COSTS OF DOING BUSINESS IN AN URBAN ENVIRONMENT; AND A COMPETITIVE LABOR MARKET.SINCE JULY 2024, SBIDC SUPPORTED OVER 200 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 OFFERS BUSINESS EDUCATION PROGRAMMING FOCUSED ON BUSINESS DEVELOPMENT STRATEGIES AND FINANCIAL GROWTH. IN 2025, SBIDC ALSO LAUNCHED A NEW PROGRAM CALLED WE SOURCE, WHICH AIMS TO CONNECT LOCAL SMALL BUSINESSES TO OPPORTUNITIES IN THE OFFSHORE WIND SECTOR AND LARGER GREEN ECONOMY. AS PART OF THIS PROJECT, WE ARE PROVIDING 20 FIRMS WITH DIRECT PROCUREMENT ASSISTANCE AND 40 HOURS EACH OF BUSINESS CONSULTING SUPPORT SPECIFIC TO THE GREEN ECONOMY AND OFFSHORE WIND SECTOR. IN ADDITION TO OUR NEW PROGRAMS, WE ALSO 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 GRADUATED 40 BUSINESSES FROM THESE PLAN FOR GROWTH COHORTS. TO DATE, THE PROGRAM HAS GRADUATED OVER 160 BUSINESS OWNERS. WE ALSO HOSTED FOUR WEBINARS ON CREDIT COUNSELING AND ACCESSING FINANCING THROUGHOUT THE YEAR. FINALLY, WE HOSTED TWO LARGE NETWORKING EVENTS FOR SMALL BUSINESSES. SBIDC'S WORKFORCE 1 CENTER INCLUDES A STAFF OF FOUR FULL-TIME WORKFORCE DEVELOPMENT PROFESSIONALS. OUR JOB DEVELOPERS HELPED PLACE 180 PEOPLE IN FULL TIME INDUSTRIAL JOBS THIS YEAR. OUR CAREER SERVICES MANAGER AND RECRUITMENT SPECIALIST SAW OVER 1000 CUSTOMERS, HELPING THEM WITH CAREER COUNSELING, RESUME BUILDING, AND REFERRALS TO WRAP AROUND SERVICES. THE TEAM ALSO PLACED 182 PEOPLE IN FULL-TIME INDUSTRIAL JOBS. SBIDC CONTINUED TO ADVOCATE FOR THE INDUSTRIAL WORKING WATERFRONT. WE JOINED THE BROOKLYN MARINE TASKFORCE TO ADVOCATE FOR MARITIME INDUSTRY THROUGHOUT THE INDUSTRIAL BUSINESS ZONE. WE ALSO INCREASED OUR REAL ESTATE ASSISTANCE SERVICES, HELPING TWO SMALL MANUFACTURERS LOCATE IN A NEW INDUSTRIAL BUILDING IN GOWANUS.Expenses $1,129,671
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 11-2508370
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1980
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41Z)
- Assets (IRS master file)
- $1,954,999
- Income (IRS master file)
- $1,400,911
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,330,734 | $1,414,788 | $1,954,999 | XML |
| 990 | June 2024 | $2,072,854 | $1,202,873 | $1,600,101 | IRS |
| 990 | June 2023 | $1,111,462 | $1,038,905 | $675,859 | XML |
| 990 | June 2022 | $1,197,769 | $1,056,970 | $536,412 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | May 2020 | – | – | – | IRS |
| 990 | May 2019 | – | – | – | IRS |
| 990 | May 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 11-2508370).
Questions about SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION
- What is the EIN of SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION is 11-2508370.
- Is SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1980.
- Are donations to SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names JESSE SOLOMON.
- Who are the officers and directors of SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 15 people; 1 received compensation from the organization, the highest $154,838 (JESSE SOLOMON, EXECUTIVE DIRECTOR).
- How much revenue does SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,330,734, expenses of $1,414,788 and total assets of $1,954,999 at year end.
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