Greater Jamaica Development Corporation

What it reported doing in 2025

See schedule ojamaica market: since its opening in 1990, the jamaica market has established itself as a community meeting place offering an eclectic array of affordable culinary choices - from salads and sandwiches to juices and ethnic foods from asia, latin america, and the caribbean all in a convenient location. Over the years, the market has helped many creative and ambitious entrepreneurs start businesses in a commercial corridor where it might otherwise be too expensive for them to open shop; there are currently over 20 shops selling hot food, news, coffee, magazines, flowers, cosmetics, jewelry, hair products and more. In addition, the harvest room is located in the jamaica market. As one of the only offerings of its kind in downtown jamaica the harvest room serves as a large scale event space that gjdc offers for community convening purposes. Able to accommodate up to 150 guests, the local community uses the harvest room for a wide variety of family, social, and business events. Not only can the venue be rented for affordable rates, gjdc also provides the space in-kind for certain community events. Greater nexus: since opening in 2022, greater nexus has emerged as a premier coworking space and entrepreneurship hub in southeast queens, designed to empower local businesses with access to modern amenities and critical resources. Located in downtown jamaica, the 10,000+ square foot facility provides affordable, flexible workspace to a largely minority-owned business community that has historically lacked such access. Despite pandemic-related delays, greater nexus reached full occupancy in its private offices within its first year and continues to offer flexible workspaces for hundreds of entrepreneurs and nonprofits. In 2023 alone, greater nexus hosted more than 120 events, served over 2,500 unique visitors, and supported more than 200 small businessesthrough direct services, technical assistance, and networking opportunities.greater nexus offers a high-end, hospitality-focused experience that rivals top-tier coworking spaces across New York city, while remaining accessible to local entrepreneurs.with wellness rooms, soundproof phone booths, tech-enabled conference rooms, and state-of-the-art a/v capabilities, the space is designed to foster creativity, collaboration, and growth. Members benefit from a flexible pricing model, from day passes to long-term private offices and can take advantage of more than 50 workshops, monthly industry networking events, and curated business support programs. As a certified hub for training and credentialing, greater nexus also partners with workforce agencies and educational institutions to host certification programs in digital marketing, business operations, and mwbe compliance, providing tangible pathways to economic mobility.greater nexus is home to a growing suite of innovative initiatives designed to close opportunity gaps and strengthen the local economy. Among these is thesmall business initiative, which provides up to 15 entrepreneurs with complimentary coworking access for one to six months, pairing them with mentors and business development resources. This initiative is complemented by programming in financial literacy, civic engagement, workforce development, and youth education. Participants also gain access to specialized certifications, one-on-one technical assistance, and resources from our business services group. By providing access to space, training, and community, greater nexus is not only growing businesses, it's building the infrastructure for long-term, inclusive economic growth in southeast queens and beyond.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 73.1%; rating input score 73
• Fundraising efficiency: $3.79 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 21st percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 86.3%; rating input score 86; 30th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -33.1%; rating input score 3; 3rd percentile among comparable filings
• Total-asset coverage ratio: 3.07; rating input score 71; 71st percentile among comparable filings
• Liabilities to assets ratio: 0.51; rating input score 16; 16th percentile among comparable filings
• Officer compensation ratio: 15.4%; rating input score 22; 22nd percentile among comparable filings

Growth

• Program expense growth: 1.1% per year; rating input score 100; 15th percentile among comparable filings
• Revenue growth: -5.2% per year; rating input score 0; 2nd percentile among comparable filings
• Asset growth: 2.5% per year; rating input score 100; 20th percentile among comparable filings