Rockaway Business Alliance Inc

What it reported doing in 2019

Mission Statement Concepts To positively impact the Rockaway Peninsula community by ensuring that our shopping corridors are safe, welcoming and fully activated, and our businesses are economically viable to the benefit of the merchants, residents, and visitors. Rockaway Business Alliance, Inc. ("RBA") will initiate efficient community programming in addition to providing business resources and tools to operate and grow with community-oriented mechanisms, while offering an empowering collective to share input on community and business needs, supporting one another through collaboration. Vision Statement RBAs vision is to create business corridors that are clean, safe, and welcoming, with shopping, dining, attractions, and engagement for the local community, and the swell of visitors drawn to Rockaways beaches and open spaces. RBA seeks to create and curate an inviting atmosphere for all to enjoy year-round. By engaging businesses that see this vision, RBA expects to contribute to the economic and social impact of the Rockaways. Alternative: A Rockaway Peninsula with an engaged business community that contributes to the communitys economic and social impact creating an inviting atmosphere for all to enjoy year-round. Business corridors that are clean, safe, and welcoming, with shopping, dining, attractions, and engagement for the local community, and visitors drawn to Rockaways beaches and open spaces. In 2019, RBA seeks: To support existing businesses needs and to build trust between merchants, we held a workshop on how to address common business needs identified in the study (Marketing, for example). The format was designed to allow for a high amount of communication/problem-solving between merchants.. To meet the need for Beautification expressed by both Merchants and Consumers in the CNDA, we connected merchants in low- and moderate-income neighborhoods to existing free or low cost programs for physical/aesthetic improvements for their stores. CD funds will not be spent on event or capital costs related to beautification activities. Host a pop-up food market. Given the high demand for more affordable and healthy food options in Rockaway expressed through the CDNA, we aimed to promote new food businesses from low- and moderate-income neighborhoods in Rockaway. We attempted to culminate these efforts with an event that to serve as a prime opportunity for emerging food businesses in Rockaway to gain their first traffic/exposure. Hold a workshop for how local entrepreneurs can potentially start their own business or work with existing businesses. We invited guest speakers from the food industry, highlighted best practices, and invited participants to explore how they might implement such ideas locally. Workshops were used to leverage external community development resources existing within the target area. Create a non-retail business attraction program. Rockaway is in high need of local employment opportunities and greater local spending power (particularly in the off-season). We designed and promoted a survey to see what the main needs might be for those working in or seeking to work in a remote context from Rockaway. We also used these surveys as an opportunity to recruit community members for future workshops.

Financial Efficiency

• Mission deployment rate: 61.1%; rating input score 61
• Program expense ratio: 80%; rating input score 80

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
• Major donor itemization: Yes; rating input score 100

Sustainability

• Operating margin: 23.6%; rating input score 79; 79th percentile among comparable filings
• Total-asset coverage ratio: 0.48; rating input score 37; 37th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 62; 62nd percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 65; 65th percentile among comparable filings

Growth

• Program expense growth: 15% per year; rating input score 100; 74th percentile among comparable filings
• Revenue growth: 20.4% per year; rating input score 100; 87th percentile among comparable filings
• Asset growth: 48.7% per year; rating input score 100; 93rd percentile among comparable filings