Southwest Brooklyn Industrial Development Corporation
Southwest Brooklyn Industrial Development Corporation consistently operates with surpluses and reports no officer compensation.
EIN: 112508370 · Brooklyn, NY · NTEE: S41Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $1.0M |
| Program Spending | 85% |
| Net Assets | $551K |
| Transparency Score | 90/100 |
Is Southwest Brooklyn Industrial Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southwest Brooklyn Industrial Development Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southwest Brooklyn Industrial Development Corporation
Southwest Brooklyn Industrial Development Corporation (EIN: 112508370) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code S41Z. The organization reported total revenue of $2.1M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southwest Brooklyn Industrial Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southwest Brooklyn Industrial Development Corporation is a mid-size nonprofit that has been operating for 46 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.0M |
| Surplus / Deficit | +$73K |
| Total Assets | $676K |
| Total Liabilities | $125K |
| Net Assets | $551K |
| Operating Margin | 6.5% |
| Debt-to-Asset Ratio | 18.5% |
| Months of Reserves | 7.8 months |
Financial Health Grade: A
In 2023, Southwest Brooklyn Industrial Development Corporation reported a surplus of $73K with revenue exceeding expenses, holds 7.8 months of operating reserves (strong position), has a debt-to-asset ratio of 18.5% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), Southwest Brooklyn Industrial Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.2% | -1.7% | +26.0% |
| 2022 | +1.9% | -5.1% | -12.3% |
| 2021 | +1912.0% | +1293.6% | +7.1% |
| 2020 | -94.3% | -91.5% | -0.8% |
| 2020 | -32.3% | -32.1% | +59.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1980 |
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 Southwest Brooklyn Industrial Development Corporation with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Southwest Brooklyn Industrial Development Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $73K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries were paid to officers, which is highly unusual for an organization of this size and suggests either volunteer leadership or compensation being reported under other categories, warranting further investigation for full transparency.
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 Southwest Brooklyn Industrial Development Corporation's IRS 990 filings:
- Reported 0% officer compensation across all filings, which is unusual for an organization of this scale and may indicate compensation is categorized differently or leadership is entirely volunteer-based, requiring clarification for full transparency.
- Significant revenue volatility observed in 2020, with a sharp drop to $58,415 in 202006 after a $1,025,571 revenue in 202005, which could indicate inconsistent funding or reporting issues.
Strengths
The following positive indicators were identified for Southwest Brooklyn Industrial Development Corporation:
- Consistent financial surpluses in recent years, such as $72,557 in 202306 and $140,799 in 202206, demonstrating sound financial management.
- Growing asset base, increasing from $337,844 in 201505 to $675,859 in 202306, indicating financial stability and resource accumulation.
- Strong program focus implied by the absence of reported officer compensation, suggesting funds are directed towards mission-related activities.
- Regular and consistent IRS 990 filing history (14 filings), indicating good compliance and transparency.
Frequently Asked Questions about Southwest Brooklyn Industrial Development Corporation
Is Southwest Brooklyn Industrial Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Southwest Brooklyn Industrial Development Corporation (EIN: 112508370) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Southwest Brooklyn Industrial Development Corporation spend its money?
Southwest Brooklyn Industrial Development Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Southwest Brooklyn Industrial Development Corporation tax-deductible?
Southwest Brooklyn Industrial Development Corporation is registered as a tax-exempt nonprofit (EIN: 112508370). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Southwest Brooklyn Industrial Development Corporation's spending goes to programs?
Southwest Brooklyn Industrial Development Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Southwest Brooklyn Industrial Development Corporation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Southwest Brooklyn Industrial Development Corporation is above average for NTEE category S41Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Southwest Brooklyn Industrial Development Corporation located?
Southwest Brooklyn Industrial Development Corporation is headquartered in Brooklyn, New York and files with the IRS under EIN 112508370. It is classified under NTEE code S41Z.
How many years of IRS 990 filings does Southwest Brooklyn Industrial Development Corporation have?
Southwest Brooklyn Industrial Development Corporation has 14 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 $2.1M in total revenue.
Is Southwest Brooklyn Industrial Development Corporation a good charity?
Based on the available data, the organization appears to be financially healthy, consistently operating with surpluses in recent years (e.g., $72,557 surplus in 202306) and showing asset growth. The reported 0% officer compensation is a strong positive for mission focus, though it raises questions about how leadership is compensated or structured.
How does Southwest Brooklyn Industrial Development Corporation manage its liabilities?
Liabilities have fluctuated but generally remain manageable relative to assets. For instance, in 202306, liabilities were $125,310 against assets of $675,859, indicating a strong asset-to-liability ratio.
What caused the significant revenue drop in 202006?
The revenue dropped significantly to $58,415 in 202006 from $1,025,571 in 202005. This sharp decline warrants further investigation to understand the specific operational or funding changes during that period, especially given the subsequent recovery.
Filing History
IRS 990 filing history for Southwest Brooklyn Industrial Development Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Southwest Brooklyn Industrial Development Corporation's revenue has grown by 18.3%, moving from $939K to $1.1M. Total assets increased by 47.7% over the same period, from $458K to $676K. Total functional expenses rose by 18.4%, from $878K to $1.0M. In its most recent filing year (2023), Southwest Brooklyn Industrial Development Corporation reported a surplus of $73K, with revenue exceeding expenses. The organization holds $125K in liabilities against $676K in assets (debt-to-asset ratio: 18.5%), resulting in net assets of $551K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $1.0M | $676K | $125K | — | View 990 |
| 2022 | $1.2M | $1.1M | $536K | $58K | — | View 990 |
| 2021 | $1.2M | $1.1M | $612K | $274K | — | View 990 |
| 2020 | $58K | $80K | $571K | $295K | — | View 990 |
| 2020 | $1.0M | $937K | $575K | $278K | — | View 990 |
| 2019 | $1.5M | $1.4M | $361K | $153K | — | View 990 |
| 2018 | $1.3M | $1.5M | $408K | $333K | — | View 990 |
| 2017 | $1.4M | $1.4M | $515K | $254K | — | View 990 |
| 2016 | $904K | $925K | $372K | $125K | — | View 990 |
| 2015 | $696K | $722K | $338K | $70K | — | View 990 |
| 2014 | $732K | $779K | $335K | $41K | — | View 990 |
| 2013 | $827K | $775K | $382K | $42K | — | View 990 |
| 2012 | $655K | $775K | $331K | $43K | — | View 990 |
| 2011 | $939K | $878K | $458K | $50K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $1.0M, and assets of $676K (revenue -7.2% year-over-year).
- 2022: Revenue of $1.2M, expenses of $1.1M, and assets of $536K (revenue +1.9% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.1M, and assets of $612K (revenue +1912.0% year-over-year).
- 2020: Revenue of $58K, expenses of $80K, and assets of $571K (revenue -94.3% year-over-year).
- 2020: Revenue of $1.0M, expenses of $937K, and assets of $575K (revenue -32.3% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.4M, and assets of $361K (revenue +16.7% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.5M, and assets of $408K (revenue -10.3% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.4M, and assets of $515K (revenue +60.1% year-over-year).
- 2016: Revenue of $904K, expenses of $925K, and assets of $372K (revenue +29.8% year-over-year).
- 2015: Revenue of $696K, expenses of $722K, and assets of $338K (revenue -4.9% year-over-year).
- 2014: Revenue of $732K, expenses of $779K, and assets of $335K (revenue -11.4% year-over-year).
- 2013: Revenue of $827K, expenses of $775K, and assets of $382K (revenue +26.1% year-over-year).
- 2012: Revenue of $655K, expenses of $775K, and assets of $331K (revenue -30.2% year-over-year).
- 2011: Revenue of $939K, expenses of $878K, and assets of $458K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southwest Brooklyn Industrial Development Corporation:
Data Sources and Methodology
This transparency report for Southwest Brooklyn Industrial 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.