PLATINUM2022

Bedford Stuyvesant Restoration Corporation

An Institution of Respect and Equality

aka Restoration   |   Brooklyn, NY   |  www.restorationplaza.org

Mission

The nation's first community development corporation, Bedford Stuyvesant Restoration Corporation was founded in 1967 through unprecedented community activism and the bipartisan support of senators Jacob Javits and Robert F. Kennedy. Now, half a century later, its mission is to relentlessly pursue strategies to close gaps in family and community wealth to ensure all families in Central Brooklyn are prosperous and healthy. With a vision of a flourishing Brooklyn community consisting of strong families, businesses, and institutions and anchored in a culture of equity and inclusion, Restoration drives strategies that encourage asset creation, upward mobility, and self-sufficiency.

Ruling year info

1967

Principal Officer

Ms. Blondel Pinnock

Co Principal Officer

Mr. Dyrnest Sinckler

Main address

1368 Fulton Street

Brooklyn, NY 11216 USA

Show more contact info

EIN

11-6083182

NTEE code info

Community, Neighborhood Development, Improvement (S20)

Employment Procurement Assistance and Job Training (J20)

Arts, Cultural Organizations - Multipurpose (A20)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Restoration's Community Development Programming

Bedford Stuyvesant Restoration Corporation partners with residents, community groups, government agencies and businesses to improve the overall quality of life in Central Brooklyn. Nearly 80,000 people benefit from our programs each year. Restoration focuses on services that promote economic empowerment among low and moderate income families and individuals. Programming includes workplace readiness and job placement; college prep assistance; financial counseling and coaching; asset building advice and support; youth employment; homeownership assistance; and wrap-around social services. In addition, we operate the Restoration Plaza which serves as the commercial, educational and cultural hub of Central Brooklyn.

Population(s) Served
People of African descent
People of Caribbean descent
Economically disadvantaged people
Artists and performers
Families

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total number of counseling sessions performed

This metric is no longer tracked.
Totals By Year
Population(s) Served

Ethnic and racial groups

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Our Center for Personal Financial Health provided nearly 3,000 financial counseling sessions in 2021.

Number of those who successfully gained employment after counseling

This metric is no longer tracked.
Totals By Year
Population(s) Served

Ethnic and racial groups

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Holding steady

Number of emergency meals provided

This metric is no longer tracked.
Totals By Year
Population(s) Served

Ethnic and racial groups

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Holding steady

Context Notes

During the pandemic, we helped to deliver over 2,900 emergency meals and 9,870 food boxes to NYCHA's PACT-reliant buildings.

Number of clients served

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Clients served by the Center for Personal Financial Health

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Restoration's goal is to disrupt and close the racial wealth gap by empowering Black
families and businesses to build net worth and strengthen the community context. The racial wealth gap in Brooklyn has only been exacerbated by the COVID-19 crisis and is between $40 and $50 billion dollars--recent studies have shown that if nothing is down, the median Black household wealth will be $0 by 2053. Through our programming and partnerships, we aim to reverse intergenerational trends that have left Brooklyn's communities of color undercapitalized.

In our 55 year history, Restoration has piloted a uniquely holistic approach to community development that encompasses business development, personal finance, health and wellness, arts and culture and overall community investment on an unprecedented scale. We design, test and implement creative strategies and structural interventions that encourage asset creation, upward mobility, and self-sufficiency to increase the household and business net worth of low- and moderate-income Brooklyn residents. Our vision is for a flourishing Brooklyn community consisting of strong families, businesses, and institutions, anchored in a culture of equity and inclusion.




Our comprehensive approach to community development means that we attack inequality from all angles, leveraging the strength and resources of the community, government, corporations, and foundations to create the greatest possible impact. As a trusted coalition builder, BSRC attracts multi-year commitments through strategic partnerships with philanthropic and government entities at all levels. Our ability to harness the powers of both public and private sectors is central to our capacity for impact.
In the coming years, we plan to continue to scale and strengthen our current programming through the complete re-imagining of our current headquarters at Restoration Plaza. The new Innovation Campus, designed by famed architect Sir David Adjaye, will create an ecosystem that comprises innovative economic mobility programs alongside major industry anchors and community and cultural organizations, establishing a “virtuous cycle” to help close the racial wealth gap – and create a model that can be replicated in communities across the globe. The Campus will house our current programming while also attracting industry leaders that will bring both job and wealth creation, in addition to creating a space to entrepreneurs, artists, and small businesses iin the community to start up, grow, and thrive.

We have a strong strategic plan in place aimed at scaling our already-robust programming which includes further expanding our cross-sector partnerships. Our executive team has decades of collective experience and are driven toward a common goal of empowering the community's residents to build their net worth and find financial security. While we plan to expand our staff and innovative offerings, our current staff already has a remarkable track record, whether it be our financial counselors at the Center for Personal Financial Health, who serve thousands of clients annually, or our business experts at the Brooklyn Business Center who have helped to secure millions in funding for small businesses over the past three years. With a new President & CEO at the helm, Restoration is poised to tackle effectively reimagine our place and impact in the community.

As just one example of our forward-thinking approach to disrupting and closing the racial wealth gap, our Breakthrough Technology Program, which is currently in the midst of its second cohort, launched last February through a partnership with the Marcy Lab School. The Breakthrough Technology Fellowship tested the hypothesis that a gap in leadership skills prevents people with technical skills from getting jobs. A cohort of 20 young professionals of color with at least some technical training completed a 12-week project-based technical curriculum and robust leadership development curriculum focused on career fluency, racial identity development, and 1:1 coaching. The results were tremendous: 19 out of 20 of the fellows secured jobs after the program with an average salary of over $106,000. All fellows felt more confident in their own identities, skillset, and ability to prosper financially as well. Restoration continues to provide services to the fellows to ensure their success as we embark on our second iteration of the program, this time a yearlong fellowship.

Financials

Bedford Stuyvesant Restoration Corporation
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
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  • Compare nonprofit financials to similar organizations

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Bedford Stuyvesant Restoration Corporation

Board of directors
as of 08/22/2022
SOURCE: Self-reported by organization
Board chair

Kevin Chavers

Managing Director, Enterprise Community Partners

Wayne Winborne

Vice President Business Diversity Outreach, Prudential Financial

Antonia Yuille Williams

Director Public Affairs, Con Edison of NY

Erika Irish Brown

Senior Vice President, Lehman Brothers

Joseph Sponholz

Vice Chairman, JP Morgan Chase

Marisha Clinton

Vice President Equity Research, Bear Stearns

Robert Kennedy

Senior Attorney, Natural Resources Defense Counsel

Kevin Chavers

Managing Director, Morgan Stanley

Colvin Grannum

Former President, Bedford Stuyvesant Restoration Corporation

Benjamin Glascoe

Director Public Affairs, Con Edison, Manhattan

David Offensend

Sr. VP, Chief Financial & Administrative Officer, The NY Public Library

Timothy Simons

Vice President, Outreach & Compliance, Federal Home Loan Bank of San Franci

Depelsha McGruder

Senior Vice President, Business Operations & Strategy, MTV

Peter Williams

Chief Executive Officer, MBD Community Housing Corporation

Kevin Stein

Co-Founder, Resolution ANALYTICA

Lenue (Lenny) Singletary III

Senior Vice President of External Affairs, Strategy & Marketing, The Brooklyn Hospital Center

Binta Vann

Chief Marketing Officer, NPower

Wayne Riley

President, SUNY Downstate Medical Center

David Ehrenberg

Immediate Past President and CEO, Brooklyn Navy Yard Development Corporation

Eric Eve

Chief Executive Officer, Ichor Strategies

Joni Yoswein

President & CEO, Yoswein New York

Organizational demographics

SOURCE: Self-reported; last updated 7/19/2022

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American/African
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

The organization's co-leader identifies as:

Race & ethnicity
Black/African American/African
Gender identity
Male, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data