Bedford Stuyvesant Restoration Corporation

Nonprofit profile at a glance

EIN
116083182
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7186366900
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Home Improvement and Repairs

Official website

Reported finances

Revenue
$8,074,142
Expenses
$10,992,037
Assets
$60,391,067
Liabilities
$38,630,492

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • Blondel Pinnock (President & CEO)

Highest reported compensation

  • Blondel Pinnock (President & CEO): $288,792 total reported compensation
  • Francila Carlson (Exec. VP/CFAO): $272,272 total reported compensation
  • Takisia Whites (Executive VP): $203,435 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The nation's first community development organization, partners with community residents, leaders and businesses to improve the quality of life of Central Brooklyn by fostering economic self suffiency, enhancing family stability and growth, promoting arts and culture and transforming the community into a safe, vibrant place to live, work and visit.

What it reported doing in 2024

Arts and Education - The organization's Center for Arts and Culture presents, promotes and preserves the multi-cultural heritage of the residents of Bedford Stuyvesant and Central Brooklyn by training the next generation of talent with over 400 on site enrollment in our dance and arts workshops, exhibiting the work of local artists in our Skylight Gallery, and showcasing the performance of cultural groups in our historic Billie Holiday Theatre.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 91
  • Accountability: 87
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.3%; rating input score 96
  • Program expense ratio: 70.5%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -36.1%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 5.49; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: -1.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 96.3% of revenue deployed · 70.5% of spending went to programs
  • Governance: 15 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $7.8M in reported program spending
  • Leadership: top reported pay $289K · 22 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $725K reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 13 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.