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Nonprofit · EIN 11-3250772

BRIDGE STREET DEVELOPMENT CORPORATION

Tax-exempt · BROOKLYN, NY 11216

Financials

$4.5M$4.6M2023$3.3M$3.6M2024
Revenue Expenses · by fiscal year end
Financials of BRIDGE STREET DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$3,306,494$3,588,604-$282,110$2,149,958$659,465$1,490,493
December 31, 2023990 (amended)$4,529,272$4,602,911-$73,639$2,932,460$1,159,781$1,772,679
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$2,316,337
of which government grants
$1,338,907
Program service revenue
$989,785
Investment income
$230
Other revenue
$142

Expenses

Grants and similar amounts paid
$66,488
Compensation of officers, directors and key employees
$216,250
Other salaries and wages
$1,733,304
Salaries, compensation and benefits (total)
$2,329,974
Professional fundraising fees
$0
Occupancy
$74,398
Travel
$1,227
Depreciation
$6,548
Program services (functional)
$3,037,153
Management and general (functional)
$331,221
Fundraising (functional)
$220,230

Balance sheet and other

Total assets, start of year
$2,932,460
Total assets, end of year
$2,149,958
Total liabilities, end of year
$659,465
Net assets, end of year
$1,490,493
Land, buildings and equipment
$7,022
Publicly traded securities
$1,460
Net assets without donor restrictions
$1,490,493
Gross receipts
$3,306,494
Employees
96
Volunteers
0
Year formed
1995
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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
GREGORY ANDERSONPRESIDENT AND CEO
Officer
40$216,250$17,701
EDWARD ODOM JRCHAIRMAN
Trustee or director, Officer
1$0$0
PHYLLIS WHITE-THORNEVICE CHAIR
Trustee or director, Officer
1$0$0
ABITZEL ROBINSON-HOBSONTREASURER
Trustee or director, Officer
1$0$0
VALERIE KENDRICK-COUSINSECRETARY
Trustee or director, Officer
1$0$0
DREXEL HARRISMEMBER
Trustee or director
1$0$0
FITZGERALD MILLERMEMBER
Trustee or director
1$0$0
NILES D STEWARTMEMBER
Trustee or director
1$0$0
JOAN BARTOLOMEOMEMBER
Trustee or director
1$0$0
REV DAVID B COUSIN SRMEMBER
Trustee or director
1$0$0
TAMARA CHARLESMEMBER
Trustee or director
1$0$0
SHIMONAH ISRAELMEMBER
Trustee or director
1$0$0
JANEL SHERVINGTONMEMBER
Trustee or director
1$0$0
BONNY O WILLIAMSMEMBER
Trustee or director
1$0$0
OMAR WASHINGTONMEMBER
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 7 people
NameTitleHours / weekCompensationOther / benefits
GREGORY ANDERSONPRESIDENT AND CEO
Officer
40$201,108$23,731
EDWARD ODOM JRCHAIRMAN
Trustee or director, Officer
1$0$0
PHYLLIS WHITE-THORNEVICE CHAIR
Trustee or director, Officer
1$0$0
ABITZEL ROBITSON-HOBSONTREASURER
Trustee or director, Officer
1$0$0
VALERIE KENDERICK-COUSINSECRETARY
Trustee or director, Officer
1$0$0
DREXEL HARRISMEMBER
Trustee or director
1$0$0
NILES DANTE STEWARTMEMBER
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
460 NOSTRAND AVENUE, BROOKLYN, NY 11216-2286
Principal officer (990 for 2024)
GREGORY ANDERSON, 460 NOSTRAND AVENUE, BROOKLYN, NY 11216
Signed the 990
GREGORY ANDERSON, PRESIDENT AND CEO
Phone
(718) 399-0146
Return prepared by
EFPR ADVISORY LLC

Mission

BRIDGE STREET DEVELOPMENT CORPORATION'S MISSION IS THREEFOLD: (1)DEVELOPING AND UPGRADING HOUSING IN LOW AND MODERATE INCOME FAMILIES IN THE BEDFORD-STUYVESANT AREA; (2) ENCOURAGING THE FORMATION OF BUSINESSES IN, AND RECRUITING PROSPECTIVE AND EXISTING BUSINESSES TO, BEDFORD-STUYVESANT; AND (3) DEVELOPING MANAGEMENT AND ADMINISTRATIVE CAPACITY THAT WILL ALLOW FOR THE CENTRALIZED PROVISION OF SUCH SERVICES TO THE SEVERAL CORPORATIONS AFFILIATED WITH BRIDGE STREET AFRICAN WESLEYAN METHODIST EPISCOPAL CHURCH.

990 for the year ended December 31, 2024

Program accomplishments

  • COMMUNITY ENGAGEMENT AND YOUTH WORKFORCE-BSDC'S COMMUNITY ENGAGEMENT AND YOUTH WORKFORCE PROGRAMS BUILDS AND SUSTAINS VIBRANT AND EQUITABLE NEIGHBORHOODS WITHIN CENTRAL BROOKLYN, BY BRINGING TOGETHER THE TALENTS, RESOURCES, AND SKILLS OF ITS RESIDENTS. THIS IS ACCOMPLISHED BY THE FOLLOWING: (1) PROVIDING SUPPORT SERVICES AND EDUCATIONAL WORKSHOPS TO LMI TENANTS; (2) YOUTH AND YOUNG ADULT INTERNSHIP AND CERTIFICATE TRAINING PROGRAMS SUCH AS OVER 1,100 SYEP INTERNSHIPS FOR 14-24 YEAR OLDS, YEAR ROUND WPP INTERNSHIPS AND MOTIVATED YOUTH BUILDING ALL SELFEMPOWERMENT (MYBASE) CIVIC ENGAGEMENT AND LEADERSHIP DEVELOPMENT PROGRAMS; AND, (3) ORGANIZING AND CONVENING BLOCK AND TENANT ASSOCIATIONS ON A MONTHLY BASIS.
    Expenses $1,078,734 · grants $33,642
  • HOUSING DEVELOPMENT
    Expenses $1,041,080
  • BSDC'S ECONOMIC DEVELOPMENT PROGRAM HAS FOUR OBJECTIVES: A) TO PROVIDE TECHNICAL AND PLANNING ASSISTANCE TO SMALL BUSINESS STARTUPS B)DEVELOP COMMERCIAL SPACE FOR BUSINESS C) IMPLEMENT NEIGHBORHOOD RETAIL INITIATIVES TO ATTRACT AND RETAIN BUSINESSES AND JOBS D) OFFER EMPOWERING FINANCIAL LITERACY PROGRAMS AND BUSINESS PLANNING COURSES, AS WELL AS FIRST-TIME HOMEBUYER WORKSHOPS.
    Expenses $542,002 · grants $6,169 · revenue $989,785
  • BSDC'S SENIOR SERVICES PROVIDES QUALITY HOUSING AT BELOW MARKET RENT FOR SENIORS,AND VARIOUS SUPPORT SERVICES ON SITE, SUCH AS MEAL ON WHEELS, WORKSHOPS,HOME HEALTH AIDES, MEDICARE ASSISTANCE AND OTHER EXTRACURRICULARACTIVITIES.
    Expenses $279,849 · grants $128
  • RESTORATIVE JUSTICE-BSDC'S RESTORATIVE JUSTICE PROGRAM, PROJECT RESTORE BEDSTUY (PRB), IS AN IMMERSIVE, YEARLONG, INITIATIVE DESIGNED TO ASSIST YOUNG MEN IN NEED OF SUPPORT DUE TO THEIR INVOLVEMENT IN STREET FORMATIONS. THE PROJECT IS A COLLABORATION BETWEEN MANY COMMUNITY AND CITY STAKEHOLDERS. PRB PROVIDES ITS PARTICIPANTS WITH MENTORSHIP, WRAPAROUND SUPPORT, AND THE RESOURCES TO HELP THEM REGAIN CONTROL OF THEIR LIVES. CORE COMPONENTS INCLUDE ACCESS TO SOCIAL RESOURCES AND SERVICES, PAID INTERNSHIP EMPLOYMENT, TARGETED EDUCATION, AND IMPORTANT LIFE SKILLS. ADDITIONALLY, THROUGH RESTORATIVE JUSTICE AND TRAUMAINFORMED PROGRAMMING, IT ALLOWS PARTICIPANTS TO TAKE RESPONSIBILITY FOR ANY HARM CAUSED, WHILE ALSO HEALING FROM ANY HARM THEY MAY HAVE EXPERIENCED THEMSELVES.
    Expenses $95,488 · grants $26,549

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
11-3250772
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
1996
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,149,958
Income (IRS master file)
$3,306,494

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$3,306,494$3,588,604$2,149,958IRS
990December 2023$4,529,272$4,602,911$2,932,460XML
990December 2022$2,763,736$2,636,980$2,210,051IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 11-3250772).

Questions about BRIDGE STREET DEVELOPMENT CORPORATION

What is the EIN of BRIDGE STREET DEVELOPMENT CORPORATION?
The employer identification number (EIN) of BRIDGE STREET DEVELOPMENT CORPORATION is 11-3250772.
Is BRIDGE STREET DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
Are donations to BRIDGE STREET DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does BRIDGE STREET 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 BRIDGE STREET DEVELOPMENT CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BRIDGE STREET DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of BRIDGE STREET DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 names GREGORY ANDERSON.
Who are the officers and directors of BRIDGE STREET DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 lists 15 people; 1 received compensation from the organization, the highest $216,250 (GREGORY ANDERSON, PRESIDENT AND CEO).
How much revenue does BRIDGE STREET DEVELOPMENT CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $3,306,494, expenses of $3,588,604 and total assets of $2,149,958 at year end.

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