North Brooklyn Development Corp

Nonprofit profile at a glance

EIN
112555446
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Brooklyn, NY, USA
Phone
7183899044
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Neighborhood Centers

Official website

Reported finances

Revenue
$1,065,046
Expenses
$1,044,192
Assets
$2,527,500
Liabilities
$31,822

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

Leadership & pay

10 people listed

Executive titles in this filing

  • PAUL PULLO (PRESIDENT)

Highest reported compensation

  • RICHARD MAZUR (EXECUTIVE DI): $201,442 total reported compensation

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

Overview

Mission

North brooklyn development corporation was formed to assist, promote, encourage and stimulate the construction and/or rehabilitation of residential buildings in blighted or underdeveloped areas of brooklyn, ny

What it reported doing in 2024

Neighborhood and housing preservation program- during the last 12 months we had close to 1500 visits to our office because of housing related matters. Program provided the following services: information and advice on tenant rights and their enforcement through workshops, tenant association meetings, and during individual consultations, finding legal help and assisting tenants in houseing court as well as writing letters to landlords and housing agencies on behalf of tenants. Our staff has also provided information and assistance in locating and applying for affordable apartments.

Operating model

Revenue model
Grant-funded. 62% of the money available for current operations came from government grants.
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

SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 70
  • Accountability: 42
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.6%; rating input score 67
  • Program expense ratio: 64.5%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 2.42; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 19.3%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 66.6% of revenue deployed · 64.5% of spending went to programs
  • Governance: 0 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $673K in reported program spending
  • Leadership: top reported pay $201K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.