Nonprofit · EIN 13-3079387
BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · BRONX, NY 10451
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $3,495,333 | $3,653,773 | -$158,440 | $26,457,812 | $866,891 | $25,590,921 |
| June 30, 2024 | 990 | $2,816,534 | $3,836,460 | -$1,019,926 | $26,267,663 | $490,089 | $25,777,574 |
| June 30, 2023 | 990 | $1,719,593 | $2,193,454 | -$473,861 | $26,832,621 | $340,633 | $26,491,988 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,569,337
- of which government grants
- $1,778,908
- Program service revenue
- $98,918
- Investment income
- $826,658
- Net gain from sales of assets
- $826,592
- Other revenue
- $420
Expenses
- Grants and similar amounts paid
- $336,447
- Compensation of officers, directors and key employees
- $403,239
- Other salaries and wages
- $809,549
- Salaries, compensation and benefits (total)
- $1,406,668
- Professional fundraising fees
- $0
- Legal fees
- $8,566
- Accounting fees
- $36,630
- Occupancy
- $38,187
- Depreciation
- $12,442
- Program services (functional)
- $2,806,387
- Management and general (functional)
- $501,696
- Fundraising (functional)
- $345,690
Balance sheet and other
- Total assets, start of year
- $26,267,663
- Total assets, end of year
- $26,457,812
- Total liabilities, end of year
- $866,891
- Net assets, end of year
- $25,590,921
- Land, buildings and equipment
- $12,872
- Publicly traded securities
- $20,749,342
- Net assets without donor restrictions
- $3,350,057
- Net assets with donor restrictions
- $22,240,864
- Gross receipts
- $59,633,346
- Employees
- 25
- Volunteers
- 150
- Year formed
- 1981
- 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 |
|---|---|---|---|---|
| Robert Walsh | President Trustee or director, Officer | 40 | $230,000 | $0 |
| Angely Orbe | Chief Financial Officer Officer | 40 | $130,000 | $13,816 |
| Rafael Roger | Board Member Trustee or director | 1 | $20,000 | $0 |
| Clarence Stanley Jr | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Kathy Zamechansky | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Julio E Reyes Jr | Board Member Trustee or director | 1 | $0 | $0 |
| Brian Smith | Board Member Trustee or director | 1 | $0 | $0 |
| Winston Peters | Board Member Trustee or director | 1 | $0 | $0 |
| Phillip Grant | Board Member Trustee or director | 1 | $0 | $0 |
| Nallely De Jess | Board Member Trustee or director | 1 | $0 | $0 |
| Lourdes Zapata | Board Member Trustee or director | 1 | $0 | $0 |
| Yesenia Quinones | Board Member Trustee or director | 1 | $0 | $0 |
| Eddy Bayardelle PhD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| Dan Herdoon | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Patricia Simone | Board Member Trustee or director | 1 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dr Susan L Parish | Board Member Trustee or director | 1 | $0 |
| Kevin Kim | Board Member Trustee or director | 1 | $0 |
| Vanessa L Gibson | Board Member Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Robert Walsh | President Trustee or director, Officer | 40 | $215,692 | $0 |
| Duncan Still | CHIEF FINANCIAL OFFICER Officer | 40 | $133,465 | $14,661 |
| SULMA V ARZU - BROWN | Executive Director Highest-paid employee | 40 | $104,923 | $0 |
| Angely Orbe | Chief Financial Officer Officer | 40 | $47,000 | $19,202 |
| Rafael Roger | Vice President Officer | 40 | $20,000 | $0 |
| Clarence Stanley Jr | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Kathy Zamechansky | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Benjamin Arana | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Julio E Reyes Jr | Board Member Trustee or director | 1 | $0 | $0 |
| Brian Smith | Board Member Trustee or director | 1 | $0 | $0 |
| Winston Peters | Board Member Trustee or director | 1 | $0 | $0 |
| Phillip Grant | Board Member Trustee or director | 1 | $0 | $0 |
| Nallely De Jess | Board Member Trustee or director | 1 | $0 | $0 |
| Lourdes Zapata | Board Member Trustee or director | 1 | $0 | $0 |
| Yesenia Quinones | Board Member Trustee or director | 1 | $0 | $0 |
| Eddy Bayardelle PhD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| Dan Herdoon | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| Young Woo | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Duncan Still | CFO Officer | 40 | $131,093 | $12,442 |
| Robert Walsh | President Trustee or director, Officer | 40 | $40,769 | $0 |
| Rafael Roger | Vice President Officer | 40 | $20,000 | $0 |
| Clarence Stanley Jr | Interim Chair of The Board Trustee or director, Officer | 1 | $0 | $0 |
| Kathy Zamechansky | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Benjamin Arana | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Julio Reyes Jr | Board Member Trustee or director | 1 | $0 | $0 |
| Jose Perez | Board Member Trustee or director | 1 | $0 | $0 |
| Winston Peters | Board Member Trustee or director | 1 | $0 | $0 |
| Phillip Grant | Board Member Trustee or director | 1 | $0 | $0 |
| Nallely De Jess | Board Member Trustee or director | 1 | $0 | $0 |
| Lourdes Zapata | Board Member Trustee or director | 1 | $0 | $0 |
| Yesenia Quinones | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 851 GRAND CONCOURSE RM 123, BRONX, NY 10451-2937
- In care of
- % ANGELY ORBE
- Principal officer (990 for 2024)
- Winston Peters, 851 Grand Concourse123, Bronx, NY 104512937
- Signed the 990
- Winston Peters, Interim PRESIDENT
- Phone
- (718) 590-6201
- Website
- www.BXEDC.org
- Return prepared by
- WithumSmithBrown PC
Mission
BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION (THE "CORPORATION") IS A NEW YORK NONPROFIT ORGANIZATION, ORGANIZED IN 1981. THE CORPORATION WAS ESTABLISHED TO PROMOTE ECONOMIC GROWTH IN THE BRONX, NEW YORK BY PROVIDING LOANS AND GRANTS TO BUSINESSES LOCATED IN THE BRONX, CONSULTING SERVICES TO PRESENT AND FUTURE COMPANIES, AND ON-THE-JOB TRAINING. THE CORPORATION IS FUNDED PRIMARILY THROUGH GOVERNMENTAL AND FOUNDATION GRANTS AND CONTRIBUTIONS.
Program accomplishments
- Economic Development - Under this program, the Corporation performs research and analysis regarding current economic developments, marketing, and promotion of the Bronx through various media channels, ensuring that local businesses, investors, and residents are informed about opportunities within the borough. As the administrator of the Bronx Empowerment Zone, the Corporation actively supports businesses by providing real estate assistance, helping Bronx-based companies expand their operations, and facilitating the relocation of businesses looking to establish a presence in the Bronx. This includes site selection, navigating zoning and land use policies, and liaising with city agencies to streamline the expansion process. Additionally, the Corporation offers financial services information and assistance, helping businesses secure capital through a variety of loan programs, including the SBA 7(a) loan program, Bronx Empowerment Zone loan funds, and other small business lending initiatives. By leveraging partnerships with financial institutions and economic development agencies, the Corporation ensures that Bronx businesses, particularly minority- and women-owned enterprises (MWBEs), gain access to critical funding for growth, job creation, and operational sustainability. Beyond financing, the Corporation provides technical commercial revitalization assistance, working closely with Business Improvement Districts (BIDs) and local merchant associations to strengthen commercial corridors and improve the business environment. This includes storefront improvement programs, public space enhancements, and placemaking initiatives to support thriving retail districts. The Corporation also plays a vital role in fostering entrepreneurship by offering entrepreneurial assessment services, business development workshops, and technical assistance to new and existing business owners, helping them refine their business models, access capital, and develop sustainable growth strategies. As part of its broader economic development mission, the Corporation administers key workforce development and job creation initiatives, collaborating with local institutions to connect Bronx residents with employment opportunities. Programs are designed to ensure that businesses benefiting from financial assistance are reinvesting in the local economy by hiring Bronx-based workers. The Corporation's efforts are supported through a combination of city, state, and federal funding, as well as private sector investments and nonprofit collaborations, ensuring ongoing economic growth, business expansion, and long-term sustainability for the Bronx.Expenses $1,107,764 · grants $500 · revenue $98,918
- Empowerment zone - The Empowerment Zone program includes the operation of two loan programs for qualified Bronx Empowerment Zone companies. The Corporation is the administrator of the Bronx portion of the New York City Empowerment Zone. This program was a part of the President's Empowerment Zone and Enterprise Community Initiative. The goals of the program within the Bronx are economic development, sustainable community development, the development of community-based partnerships, and the development of a strategic vision of change. The Empowerment Zone programs offer loans at low interest rates and long repayment terms in exchange for the borrower's commitment to hire Bronx Empowerment Zone residents. The partners in this enterprise and the entities funding the program are the City of New York, the New York State Urban Development Corporation (doing business as the Empire State Development Corporation) ("ESDC"), and the United States Department of Housing and Urban Development. Fundamental to achieving the program's goal is the creation of permanent jobs through business development within the target zones. The legislation that supported the Empowerment Zones ended on December 31, 2013; however, the funding received under this program continues to be used to provide the same loan programs. In addition to these programs, the Small Business Administration (SBA) 7(a) Loan Program has become an essential tool for expanding access to capital, offering flexible financing options to small businesses within the Bronx Empowerment Zone. As part of an effort to strengthen and expand these initiatives, a Director of the Empowerment Zone has been hired to oversee operations, ensure effective allocation of funds, and enhance strategic partnerships that support economic growth and job creation within the borough.Expenses $715,133 · grants $323,946
- The Bronx Tourism Council was established in 1992 to collaborate with governmental and nongovernmental organizations to promote tourism in the Bronx and showcase the borough's diverse attractions. Through strategic partnerships and community engagement, the Council highlights the Bronx as a premier destination for both visitors and residents. A signature initiative is Bronx Week, an annual celebration that honors the Bronx's history, culture, and contributions to the arts, business, and civic life. A key feature of Bronx Week is the Bronx Walk of Fame, which recognizes distinguished individuals who have made a lasting impact.To enhance this tradition, the Council is launching the Bronx Walk of Fame mobile app in 2025, offering an interactive way for users to explore the borough's most celebrated figures and landmarks. Other major events include Tour de Bronx, New York State's largest free cycling event, which brings riders from across the region to explore the borough's scenic and historic routes, and Savor the Bronx, an annual restaurant week that showcases the Bronx's growing culinary scene, from classic eateries to emerging gastronomic hotspots. The Council also engages in media-driven initiatives to further promote the Bronx's unique offerings. The Bronx Beat serves as a platform to highlight attractions, businesses, and organizations throughout the borough, while The Bronx Beat with 1010 WINS covers the latest developments, events, and cultural milestones, amplifying the Bronx's presence on a broader stage. Throughout the year, the Council supports various cultural and ethnic celebrations, fostering a sense of community and ensuring that the Bronx's diversity, vibrancy, and heritage remain at the forefront of its tourism efforts. to highlight attractions, businesses, and organizations throughout the borough, while The Bronx Beat with 1010 WINS covers the latest developments, events, and cultural milestones, amplifying the Bronx's presence on a broader stage. Throughout the year, the Council supports various cultural and ethnic celebrations, fostering a sense of community and ensuring that the Bronx's diversity, vibrancy, and heritage remain at the forefront of its tourism efforts.Expenses $983,490 · grants $62,001
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
- 13-3079387
- 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
- 1987
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $26,457,812
- Income (IRS master file)
- $59,633,346
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $3,495,333 | $3,653,773 | $26,457,812 | XML |
| 990 | June 2024 | $2,816,534 | $3,836,460 | $26,267,663 | IRS |
| 990 | June 2023 | $1,719,593 | $2,193,454 | $26,832,621 | XML |
| 990 | June 2022 | $1,376,717 | $1,748,198 | $26,821,106 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 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 13-3079387).
Questions about BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION is 13-3079387.
- Is BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BRONX OVERALL ECONOMIC 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 BRONX OVERALL ECONOMIC 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 BRONX OVERALL ECONOMIC 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 BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names Winston Peters.
- Who are the officers and directors of BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 18 people; 3 received compensation from the organization, the highest $230,000 (Robert Walsh, President).
- How much revenue does BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $3,495,333, expenses of $3,653,773 and total assets of $26,457,812 at year end.
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