Nonprofit · EIN 47-2526419
BUILDING 77 QALICB INC
Tax-exempt · BROOKLYN, NY 11205
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $16,638,081 | $28,856,150 | -$12,218,069 | $171,333,649 | $27,618,186 | $143,715,463 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $16,626,074
- Investment income
- $3,124
- Other revenue
- $8,883
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $1,500,723
- Salaries, compensation and benefits (total)
- $1,500,723
- Professional fundraising fees
- $0
- Legal fees
- $11,999
- Accounting fees
- $39,323
- Occupancy
- $3,713,375
- Depreciation
- $5,662,658
- Program services (functional)
- $28,775,998
- Management and general (functional)
- $80,152
Balance sheet and other
- Total assets, start of year
- $177,919,009
- Total assets, end of year
- $171,333,649
- Total liabilities, end of year
- $27,618,186
- Net assets, end of year
- $143,715,463
- Land, buildings and equipment
- $155,662,299
- Net assets without donor restrictions
- $143,715,463
- Gross receipts
- $16,638,081
- Employees
- 0
- Volunteers
- 1
- Year formed
- 2014
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| WIMAL ARIYAWANSA | TREASURER, DIRECTOR Trustee or director, Officer | 1 | $0 | $277,519 | $100,977 |
| SHANNY SPRAUS-REINHARDT | PRESIDENT, DIRECTOR Trustee or director, Officer | 1 | $0 | $274,157 | $87,675 |
| PAUL KELLY | SECRETARY, DIRECTOR Trustee or director, Officer | 1 | $0 | $286,165 | $44,620 |
| SUSIE KIM | VP, DIRECTOR Trustee or director, Officer | 1 | $0 | $208,131 | $87,211 |
| WENDY ROWDEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 141 FLUSHING AVE 801, BROOKLYN, NY 11205-1338
- In care of
- % JOHN MADONIA
- Principal officer (990 for 2025)
- PAUL KELLY, 141 FLUSHING AVE 801, BROOKLYN, NY 11205
- Signed the 990
- PAUL KELLY, PRESIDENT
- Phone
- (718) 907-5900
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
THE ORGANIZATION'S EXEMPT MISSION IS TO SERVE AS A SUPPORTING ORGANIZATION TO BNYDC, WHOSE MISSION IS TO PROMOTE LOCAL ECONOMIC DEVELOPMENT AND JOB CREATION IN THE BROOKLYN BOROUGH OF NEW YORK CITY, TO DEVELOP UNDERUTILIZED AREAS OF THE BROOKLYN NAVY YARD AND TO OVERSEE MODERNIZATION OF THE NAVY YARD'S INFRASTRUCTURE AND ASSETS, WHILE ALSO MAINTAINING ITS HISTORICAL INTEGRITY. THE ORGANIZATION WILL ENGAGE IN ECONOMIC DEVELOPMENT, SPECIFICALLY, BY REHABILITATING, REDEVELOPING AND LEASING BUILDING 77 OF THE NAVY YARD, THEREBY CREATING THOUSANDS OF JOBS FOR RESIDENTS AND THE CITY OF NEW YORK.
Program accomplishments
- BUILDING 77 QALICB, INC. (THE "CORPORATION") WAS ORGANIZED ON DECEMBER 10, 2014, AS A NEW YORK NONSTOCK, NONPROFIT CORPORATION FOR THE PURPOSE OF REHABILITATING AND OPERATING A COMMERCIAL PROPERTY LOCATED IN BROOKLYN, NEW YORK. THE PROPERTY INCLUDES ONE BUILDING WHICH IS EXPECTED TO CONSIST OF 1,000,000 SQUARE FEET OF COMMERCIAL RENTAL SPACE. AS OF DECEMBER, 2023 AND 2022, 668,394 AND 668,394, RESPECTIVELY, OF SQUARE FEET WERE LEASED. THE PROPERTY IS OWNED BY THE CITY OF NEW YORK, WHICH LEASES IT TO BROOKLYN NAVY YARD DEVELOPMENT CORPORATION ("BNYDC") WHICH IN TURN LEASES TO THE CORPORATION. THE CORPORATION SUBLETS THE SPACE TO COMMERCIAL TENANTS. THE CORPORATION IS A QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS IN ACCORDANCE WITH THE TERMS UNDER THE NEW MARKETS TAX CREDIT ("NMTC") PROGRAM PURSUANT TO SECTION 45D OF THE IRC. THE CORPORATION IS REQUIRED TO COMPLY WITH VARIOUS RULES AND REGULATIONS AND FAILURE TO COMPLY WITH THESE OR OTHER REQUIREMENTS COULD RESULT IN THE RECAPTURE OF NMTC ALREADY TAKEN BY THE MORTGAGE LENDERS AND POTENTIAL LOSS OF FUTURE NMTCS.Expenses $28,775,998 · revenue $16,634,957
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 | 990 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
- 47-2526419
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S19)
- Assets (IRS master file)
- $171,333,649
- Income (IRS master file)
- $16,638,081
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | – | – | – | IRS |
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $15,225,749 | $23,828,970 | $182,736,898 | IRS |
| 990 | December 2022 | $38,268,962 | $18,696,138 | $191,889,432 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about BUILDING 77 QALICB INC
- What is the EIN of BUILDING 77 QALICB INC?
- The employer identification number (EIN) of BUILDING 77 QALICB INC is 47-2526419.
- Is BUILDING 77 QALICB INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to BUILDING 77 QALICB INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does BUILDING 77 QALICB INC 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 BUILDING 77 QALICB INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BUILDING 77 QALICB INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of BUILDING 77 QALICB INC?
- The 990 for the year ended December 31, 2025 names PAUL KELLY.
- Who are the officers and directors of BUILDING 77 QALICB INC?
- The 990 for the year ended December 31, 2025 lists 5 people; 0 received compensation from the organization.
- How much revenue does BUILDING 77 QALICB INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $16,638,081, expenses of $28,856,150 and total assets of $171,333,649 at year end.
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All nonprofits in BROOKLYN · New York · Community improvement and capacity building