Nonprofit · EIN 13-3946529
RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · NEW YORK, NY 10002
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,008,977 | $5,585,083 | $423,894 | $33,742,646 | $14,779,619 | $18,963,027 |
| December 31, 2023 | 990 | $4,107,593 | $5,123,533 | -$1,015,940 | $32,593,576 | $14,054,443 | $18,539,133 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,797,541
- of which government grants
- $4,082,291
- Program service revenue
- $1,098,518
- Investment income
- $138,894
- Net rental income
- -$25,976
- Other revenue
- -$25,976
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $443,143
- Other salaries and wages
- $2,149,115
- Salaries, compensation and benefits (total)
- $3,201,422
- Professional fundraising fees
- $0
- Legal fees
- $63,331
- Occupancy
- $195,216
- Travel
- $32,637
- Depreciation
- $61,319
- Program services (functional)
- $4,392,653
- Management and general (functional)
- $798,335
- Fundraising (functional)
- $394,095
Balance sheet and other
- Total assets, start of year
- $32,593,576
- Total assets, end of year
- $33,742,646
- Total liabilities, end of year
- $14,779,619
- Net assets, end of year
- $18,963,027
- Land, buildings and equipment
- $308,711
- Net assets without donor restrictions
- $17,480,226
- Net assets with donor restrictions
- $1,482,801
- Gross receipts
- $6,112,649
- Employees
- 39
- Volunteers
- 8
- Year formed
- 1997
- 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.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| THOMAS YU | PRESIDENT/EXECUTIVE DIRECTOR Trustee or director, Officer | 1 | $0 | $284,107 | $61,872 |
| JESSIE LEE | MANAGING DIRECTOR Officer | 35 | $203,168 | $0 | $30,771 |
| MARY LIU | DEPUTY MANAGING DIRECTOR Officer | 40 | $141,571 | $0 | $67,634 |
| JOY SUZANNE GRANADO | CHIEF ACCOUNTING OFFICER (OUTGOING) Officer | 1 | $0 | $175,272 | $21,446 |
| JANNIE LAI | DIRECTOR OF PROGRAMS Highest-paid employee | 40 | $115,576 | $0 | $54,769 |
| SOCORRO MARIA CORONA | PLEASE PROVIDE TITTLE Highest-paid employee | 40 | $100,327 | $0 | $0 |
| CONNIE LEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| GIGI LAU GILSINAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| KYLE FOLEY | BOARD MEMBER Trustee or director | 0.3 | $0 | $0 | $0 |
| MICHAEL FONG | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL LEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| PEGGY CHAN | TREASURER (OUTGOING) Trustee or director, Officer | 0.3 | $0 | $0 | $0 |
| RAYMOND LOU | SECRETARY (OUTGOING) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TIMOTHY WONG | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| TONY LIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TURNEY SINGH BABA | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| THOMAS YU | PRESIDENT/EXECUTIVE DIRECTOR Trustee or director, Officer | 1 | $0 | $279,045 | $66,264 |
| JOY SUZANNE GRANADO | CFO Officer | 1 | $0 | $192,545 | $28,045 |
| JESSIE LEE | MANAGING DIRECTOR Officer | 35 | $175,773 | $0 | $25,098 |
| JANNIE LAI | DIRECTOR OF PROGRAMS Highest-paid employee | 40 | $116,593 | $0 | $38,093 |
| VERONIQUE MARCUS | DIRECTOR OF PROGRAMS Highest-paid employee | 40 | $124,567 | $0 | $4,541 |
| MARY LIU | BOARD MEMBER (OUTGOING) Trustee or director | 0.4 | $63,613 | $0 | $22,640 |
| KYLE FOLEY | BOARD MEMBER Trustee or director | 0.3 | $0 | $0 | $0 |
| PEGGY CHAN | TREASURER Trustee or director, Officer | 0.3 | $0 | $0 | $0 |
| PING DANG | BOARD MEMBER (OUTGOING) Trustee or director | 0.3 | $0 | $0 | $0 |
| RAYMOND LOU | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TIMOTHY WONG | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| TURNEY SINGH BABA | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| GIGI LAU GILSINAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL LEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| TONY LIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2 ALLEN ST FL 7, NEW YORK, NY 10002-5302
- In care of
- % CHRISTOPHER KUI
- Principal officer (990 for 2024)
- THOMAS YU, 2 ALLEN STREET 7TH FLOOR, NEW YORK, NY 10002
- Signed the 990
- THOMAS YU, PRESIDENT/ED
- Phone
- (212) 964-6022
- Website
- WWW.RENAISSANCE-NY.ORG
- Return prepared by
- CBIZ ADVISORS LLC
Mission
RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION PROVIDES DIRECT FINANCING AND TECHNICAL ASSISTANCE SERVICES THROUGHOUT NEW YORK CITY. RENAISSANCE FOCUSES ON LOW-INCOME 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 ENTREPRENEURS.
Program accomplishments
- 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, RESTAURTANT, AND CERTAIN PERSONAL SERVICE INDUSTRIES WITH THEIR PRIMARY BUSINESS OPERATIONS LOCATED IN NEW YORK CITY.Expenses $2,516,308 · revenue $1,098,518
- TECHNICAL ASSISTANCE & EDUCATION - REDC PROVIDES TARGETED TECHNICAL ASSISTANCE TO LOW INCOME ENTREPRENEURS & SMALL BUSINESS OWNERS, HELPING THEM TO OVERCOME TRADITIONAL IMPEDIMENTS TO BUSINESS GROWTH AND SUCCESS. REDC SPECIALIZES IN SERVICING BUSINESSES IN ITS TARGET MARKETS THAT BANKS AND GOVERNMENT PROGRAMS CANNOT SERVE, SUCHAS 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.Expenses $1,876,345
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 13-3946529
- 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
- 1998
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $33,742,646
- Income (IRS master file)
- $6,112,649
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,008,977 | $5,585,083 | $33,742,646 | IRS |
| 990 | December 2023 | $4,107,593 | $5,123,533 | $32,593,576 | XML |
| 990 | December 2022 | $4,221,507 | $3,628,639 | $31,291,579 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 13-3946529).
Questions about RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION is 13-3946529.
- Is RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does RENAISSANCE 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 RENAISSANCE ECONOMIC 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 RENAISSANCE ECONOMIC 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 RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names THOMAS YU.
- Who are the officers and directors of RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 16 people; 4 received compensation from the organization.
- How much revenue does RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,008,977, expenses of $5,585,083 and total assets of $33,742,646 at year end.
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