South Bronx Overall Economic Development Corporation
South Bronx Overall Economic Development Corporation maintains stable finances with fluctuating revenues and no reported officer compensation.
EIN: 132736022 · Bronx, NY · NTEE: S31Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.9M |
| Total Expenses | $12.2M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $4.7M |
| Transparency Score | 75/100 |
Is South Bronx Overall Economic Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
South Bronx Overall Economic Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About South Bronx Overall Economic Development Corporation
South Bronx Overall Economic Development Corporation (EIN: 132736022) is a nonprofit organization based in Bronx, NY, classified under NTEE code S31Z. The organization reported total revenue of $8.9M and total assets of $10.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of South Bronx Overall Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
South Bronx Overall Economic Development Corporation is a mid-size nonprofit that has been operating for 53 years, with 11 years of IRS 990 filings on record (2012–2022). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.0M |
| Total Expenses | $12.2M |
| Surplus / Deficit | $-173,642 |
| Total Assets | $9.4M |
| Total Liabilities | $4.8M |
| Net Assets | $4.7M |
| Operating Margin | -1.4% |
| Debt-to-Asset Ratio | 50.3% |
| Months of Reserves | 9.3 months |
Financial Health Grade: C
In 2022, South Bronx Overall Economic Development Corporation reported a deficit of $174K with expenses exceeding revenue, holds 9.3 months of operating reserves (strong position), has a debt-to-asset ratio of 50.3% (high leverage).
Financial Trends
Over 11 years of filings (2012–2022), South Bronx Overall Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +26.7% | +46.0% | -16.3% |
| 2021 | -37.3% | -25.9% | +52.6% |
| 2020 | +4.3% | -11.5% | +30.1% |
| 2019 | +33.5% | +9.2% | -51.3% |
| 2018 | +4.8% | +4.4% | +32.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 1973 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates South Bronx Overall Economic Development Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, South Bronx Overall Economic Development Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $174K, with expenses exceeding revenue.
- Debt-to-asset ratio: 50.3%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation across all available periods, which is unusual for an organization of this size with revenues often exceeding $10 million. This suggests either that executive leadership is entirely volunteer-based, compensated through a related entity, or that compensation is reported under a different category not captured by 'Officer Comp' in the provided summary.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of South Bronx Overall Economic Development Corporation's IRS 990 filings:
- Consistent 0% reported officer compensation, which is unusual for an organization of this size and warrants further investigation into executive remuneration practices.
- Fluctuating revenues and expenses, with some years showing expenses exceeding revenues (e.g., 2022, 2018), which could indicate periods of deficit spending or strategic investment.
Strengths
The following positive indicators were identified for South Bronx Overall Economic Development Corporation:
- Strong asset base consistently exceeding liabilities, indicating financial stability (e.g., 2022 Assets: $9,441,146 vs. Liabilities: $4,750,373).
- Long history of consistent IRS 990 filings (11 filings), demonstrating regulatory compliance.
- Significant revenue generation, often exceeding $10 million annually, indicating substantial operational capacity.
- Positive net assets across all reported periods, showing a healthy financial foundation.
Frequently Asked Questions about South Bronx Overall Economic Development Corporation
Is South Bronx Overall Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, South Bronx Overall Economic Development Corporation (EIN: 132736022) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does South Bronx Overall Economic Development Corporation spend its money?
South Bronx Overall Economic Development Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to South Bronx Overall Economic Development Corporation tax-deductible?
South Bronx Overall Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 132736022). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the South Bronx Overall Economic Development Corporation CEO make?
South Bronx Overall Economic Development Corporation's highest-compensated officer earns $10 annually. The organization reported $8.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of South Bronx Overall Economic Development Corporation's spending goes to programs?
South Bronx Overall Economic Development Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does South Bronx Overall Economic Development Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), South Bronx Overall Economic Development Corporation is above average for NTEE category S31Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is South Bronx Overall Economic Development Corporation located?
South Bronx Overall Economic Development Corporation is headquartered in Bronx, New York and files with the IRS under EIN 132736022. It is classified under NTEE code S31Z.
How many years of IRS 990 filings does South Bronx Overall Economic Development Corporation have?
South Bronx Overall Economic Development Corporation has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $8.9M in total revenue.
Is South Bronx Overall Economic Development Corporation a good charity?
Based on the provided data, SoBRO appears to be a financially stable organization with a long history of operations and consistent regulatory filings. Its asset base consistently exceeds liabilities, and it has managed significant revenues and expenses over the years. The absence of reported officer compensation is a unique factor that could indicate high efficiency or a need for further investigation into compensation structures. A full assessment would require detailed program spending data.
How does SoBRO manage executive compensation?
The provided data indicates 'Officer Comp=0%' across all available filing periods. This is highly unusual for an organization with annual revenues often exceeding $10 million. It suggests that executive compensation might be structured differently (e.g., through a related entity, or entirely volunteer leadership) or reported under other expense categories not specified in the summary data.
What is SoBRO's financial trend?
SoBRO's financial trend shows fluctuating but generally strong revenues, peaking at over $15 million in 2019 and 2020, and maintaining a base around $9-12 million in other years. Expenses generally track revenues, with some years showing slight deficits (e.g., 2022 expenses of $12,192,704 against revenue of $12,019,062) and others showing surpluses (e.g., 2021 expenses of $8,348,588 against revenue of $9,485,057). Assets have consistently exceeded liabilities, indicating a healthy balance sheet.
Is SoBRO transparent with its finances?
SoBRO demonstrates basic transparency by consistently filing its IRS 990 forms over many years. However, the consistent reporting of 0% officer compensation across all filings raises questions that would require reviewing the full 990 documents for a complete understanding of executive remuneration and detailed expense breakdowns to fully assess financial transparency.
Filing History
IRS 990 filing history for South Bronx Overall Economic Development Corporation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2022), South Bronx Overall Economic Development Corporation's revenue has grown by 34.3%, moving from $8.9M to $12.0M. Total assets increased by 4.7% over the same period, from $9.0M to $9.4M. Total functional expenses rose by 29.4%, from $9.4M to $12.2M. In its most recent filing year (2022), South Bronx Overall Economic Development Corporation reported a deficit of $174K, with expenses exceeding revenue. The organization holds $4.8M in liabilities against $9.4M in assets (debt-to-asset ratio: 50.3%), resulting in net assets of $4.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $12.0M | $12.2M | $9.4M | $4.8M | — | — |
| 2021 | $9.5M | $8.3M | $11.3M | $4.9M | — | View 990 |
| 2020 | $15.1M | $11.3M | $7.4M | $2.3M | — | View 990 |
| 2019 | $14.5M | $12.7M | $5.7M | $4.5M | — | — |
| 2018 | $10.9M | $11.7M | $11.7M | $7.8M | — | View 990 |
| 2017 | $10.4M | $11.2M | $8.8M | $6.7M | — | View 990 |
| 2016 | $10.1M | $10.4M | $9.3M | $6.4M | — | View 990 |
| 2015 | $8.9M | $9.7M | $10.1M | $6.9M | — | View 990 |
| 2014 | $8.3M | $9.2M | $9.8M | $5.8M | — | View 990 |
| 2013 | $13.9M | $9.5M | $11.6M | $6.7M | — | View 990 |
| 2012 | $8.9M | $9.4M | $9.0M | $8.7M | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $12.0M, expenses of $12.2M, and assets of $9.4M (revenue +26.7% year-over-year).
- 2021: Revenue of $9.5M, expenses of $8.3M, and assets of $11.3M (revenue -37.3% year-over-year).
- 2020: Revenue of $15.1M, expenses of $11.3M, and assets of $7.4M (revenue +4.3% year-over-year).
- 2019: Revenue of $14.5M, expenses of $12.7M, and assets of $5.7M (revenue +33.5% year-over-year).
- 2018: Revenue of $10.9M, expenses of $11.7M, and assets of $11.7M (revenue +4.8% year-over-year).
- 2017: Revenue of $10.4M, expenses of $11.2M, and assets of $8.8M (revenue +2.5% year-over-year).
- 2016: Revenue of $10.1M, expenses of $10.4M, and assets of $9.3M (revenue +13.5% year-over-year).
- 2015: Revenue of $8.9M, expenses of $9.7M, and assets of $10.1M (revenue +6.8% year-over-year).
- 2014: Revenue of $8.3M, expenses of $9.2M, and assets of $9.8M (revenue -39.9% year-over-year).
- 2013: Revenue of $13.9M, expenses of $9.5M, and assets of $11.6M (revenue +55.2% year-over-year).
- 2012: Revenue of $8.9M, expenses of $9.4M, and assets of $9.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for South Bronx Overall Economic Development Corporation:
Data Sources and Methodology
This transparency report for South Bronx Overall Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.