Greater Sheepshead Bay Developement Corp

Brooklyn, NY | www.gsbdcorp.org

GuideStar Charity Check

EIN: 11-2527097

Contributions tax deductible
as of November 2023

IRS BMF 509(a)(1)
as of November 13, 2023

View summary

Charity Check report

Mission

We are a non-profit, HUD Certified Housing Counseling Agency and an NYS Neighborhood Preservation Company with over 40 years of commitment to providing affordable homeownership, tenant services, foreclosure prevention, and pre-purchase home buying counseling. Our agency is a place where we embrace diversity and inclusion, and our purpose is to uphold individual dignity. We promote recognition and respect for individual and cultural differences and work to make our employees and clients feel valued and appreciated. All our services are free.

Ruling year info

1981

Executive Director

Ellen Susnow

Main address

2658 GERRITSEN AVENUE

Brooklyn, NY 11229 USA

Show more contact info

EIN

11-2527097

Subject area info

Housing loss prevention

Housing services

Population served info

Older adults

Seniors

Ethnic and racial groups

Economically disadvantaged people

Veterans

NTEE code info

Community, Neighborhood Development, Improvement (S20)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

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

Tax forms

Show Forms 990

Communication

Programs and results

What we aim to solve

This profile needs more info.

If it is your nonprofit, add a problem overview.

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?

Multicultural Affordable Housing Program

Our program is designed to address the housing and financial challenges experienced by residents in our service area, particularly during the COVID-19 pandemic. In 2020, the government introduced the 2020 COVID-19 Emergency Eviction and Foreclosure Prevention Act, which aimed to mitigate the financial difficulties affecting families and their housing stability. Unfortunately, many households were and still are unable to access these fund.
The population we serve has a diverse housing stock-- with rent-stabilized buildings, homes built before 1960, co-op and condo apartments, Mitchel-Lama buildings, and NYCHA buildings. Our area is home to residents from Russia, Ukraine, China, Pakistan, India, and Turkey. There is a lack of affordable housing to accommodate the elderly, immigrant cost-bearing population indicating an increasing need for rental counseling, subsidy assistance, foreclosure prevention, and eviction prevention.

Population(s) Served

Ethnic and racial groups

Seniors

Veterans

Unemployed people

Economically disadvantaged people

Where we work

External reviews

Financials

Greater Sheepshead Bay Developement Corp

Fiscal year: Jul 01 - Jun 30

Yes, financials were audited by an independent accountant.

Revenue vs. expenses: breakdown

SOURCE: IRS Form 990

NET GAIN/LOSS: in

Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023

SOURCE: IRS Form 990

1.46

Average of 3.27 over 10 years

Months of cash in 2023

SOURCE: IRS Form 990

3.8

Average of 2.9 over 10 years

Fringe rate in 2023

SOURCE: IRS Form 990

11%

Average of 11% over 10 years

Funding sources

Source: IRS Form 990

Assets & liabilities

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Digitizing IRS form 990 data

Greater Sheepshead Bay Developement Corp

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

Fiscal year ending: Download Data

Revenue
Contributions	$0
Government Grants	$274,495
Program Services	$70
Investments	$53
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$274,618

Expenses
Program Services	$289,006
Administration	$0
Fundraising	$0
Total Expenses	$289,006
Net Gain/Loss	($14,388)

Functional expenses
Accounting Fees	$14,885
Advertising & Promotion	$265
Information Technology Expenses	$0
Insurance Expenses	$0
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$349,391
Program Services	$144
Investments	$10
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$349,545

Expenses
Program Services	$307,366
Administration	$0
Fundraising	$0
Total Expenses	$307,366
Net Gain/Loss	$42,179

Functional expenses
Accounting Fees	$10,200
Advertising & Promotion	$75
Information Technology Expenses	$0
Insurance Expenses	$0
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$365,608
Program Services	$80
Investments	$6
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$365,694

Expenses
Program Services	$349,502
Administration	$0
Fundraising	$0
Total Expenses	$349,502
Net Gain/Loss	$16,192

Functional expenses
Accounting Fees	$7,556
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$2,105
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$247,119
Program Services	$79
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$247,198

Expenses
Program Services	$287,692
Administration	$0
Fundraising	$0
Total Expenses	$287,692
Net Gain/Loss	($40,494)

Functional expenses
Accounting Fees	$8,962
Advertising & Promotion	$352
Information Technology Expenses	$0
Insurance Expenses	$2,106
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$4,000
Government Grants	$230,357
Program Services	$70
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$234,427

Expenses
Program Services	$208,528
Administration	$0
Fundraising	$0
Total Expenses	$208,528
Net Gain/Loss	$25,899

Functional expenses
Accounting Fees	$8,128
Advertising & Promotion	$685
Information Technology Expenses	$0
Insurance Expenses	$1,652
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$160,965
Program Services	$60
Investments	$7
Special Events	$0
Sales	$0
Other	$90
Total Revenue	$161,122

Expenses
Program Services	$169,334
Administration	$8,347
Fundraising	$0
Total Expenses	$177,681
Net Gain/Loss	($16,559)

Functional expenses
Accounting Fees	$7,685
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$1,595
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$147,100
Program Services	$70
Investments	$3
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$147,173

Expenses
Program Services	$149,885
Administration	$5,329
Fundraising	$0
Total Expenses	$155,214
Net Gain/Loss	($8,041)

Functional expenses
Accounting Fees	$7,678
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$1,768
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$112,276
Program Services	$129
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$112,405

Expenses
Program Services	$120,010
Administration	$32,823
Fundraising	$0
Total Expenses	$152,833
Net Gain/Loss	($40,428)

Functional expenses
Accounting Fees	$7,243
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$1,286
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$97,526
Program Services	$60
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$97,586

Expenses
Program Services	$97,526
Administration	$7,935
Fundraising	$0
Total Expenses	$105,461
Net Gain/Loss	($7,875)

Functional expenses
Accounting Fees	$7,053
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$1,269
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$5,000
Government Grants	$93,669
Program Services	$479
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$99,148

Expenses
Program Services	$93,669
Administration	$10,009
Fundraising	$0
Total Expenses	$103,678
Net Gain/Loss	($4,530)

Functional expenses
Accounting Fees	$7,070
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$730
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$0
Government Grants	$117,425
Program Services	$280
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$117,705

Expenses
Program Services	$117,425
Administration	$109
Fundraising	$0
Total Expenses	$117,534
Net Gain/Loss	$171

Functional expenses
Accounting Fees	$7,143
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$1,657
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$111
Government Grants	$101,901
Program Services	$111
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$102,123

Expenses
Program Services	$102,301
Administration	$9,867
Fundraising	$0
Total Expenses	$112,168
Net Gain/Loss	($10,045)

Functional expenses
Accounting Fees	$6,244
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$2,239
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$8,397
Government Grants	$91,223
Program Services	$0
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$99,620

Expenses
Program Services	$86,723
Administration	$4,500
Fundraising	$0
Total Expenses	$91,223
Net Gain/Loss	$8,397

Functional expenses
Accounting Fees	$7,212
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$2,014
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$12,092
Government Grants	$103,998
Program Services	$0
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$116,090

Expenses
Program Services	$99,498
Administration	$4,500
Fundraising	$0
Total Expenses	$103,998
Net Gain/Loss	$12,092

Functional expenses
Accounting Fees	$8,146
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$2,080
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$2,695
Government Grants	$63,400
Program Services	$0
Investments	$0
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$66,095

Expenses
Program Services	$75,078
Administration	$4,500
Fundraising	$0
Total Expenses	$79,578
Net Gain/Loss	($13,483)

Functional expenses
Accounting Fees	$7,904
Advertising & Promotion	$0
Information Technology Expenses	$0
Insurance Expenses	$1,394
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Greater Sheepshead Bay Developement Corp

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: Download Data

Assets	Jul 01, 2008	Jun 30, 2009	Change
Contributions	$0
Cash & Equivalents	$90,917	$33,558	($57,359)
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$5,742	$43,004	$37,262
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$0	$0	$0
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$0	$0	$0
Other	$2,500	$3,400	$900
Total Assets	$99,159	$79,962	($19,197)

Liabilities	Jul 01, 2008	Jun 30, 2009	Change
Accounts Payable	$0	$0	$0
Grants Payable	$0	$0	$0
Deferred Revenue	$44,200	$0	($44,200)
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$39,391	$39,391
Total Liabilities	$44,200	$39,391	($4,809)

Fund balance	Jul 01, 2008	Jun 30, 2009	Change
Temporarily Restricted Net Assets	$0	$0	$0
Permanently Restricted Net Assets	$0	$0	$0
Total Restricted Net Assets	$0	$0	$0
Unrestricted Net Assets	$54,959	$40,571	($14,388)
Net Assets	$54,959	$40,571	($14,388)

Assets	Jul 01, 2009	Jun 30, 2010	Change
Contributions	$0
Cash & Equivalents	$33,558	$86,995	$53,437
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$43,004	$16,286	($26,718)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$0	$0	$0
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$0	$0	$0
Other	$3,400	$20,730	$17,330
Total Assets	$79,962	$124,011	$44,049

Liabilities	Jul 01, 2009	Jun 30, 2010	Change
Accounts Payable	$0	$0	$0
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$39,391	$41,261	$1,870
Total Liabilities	$39,391	$41,261	$1,870

Greater Sheepshead Bay Developement Corp

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

This snapshot of Greater Sheepshead Bay Developement Corp’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Fiscal year: Jul 01 - Jun 30 View full report Download data

Business model indicators

Profitability	2019	2020	2021	2022	2023
Unrestricted surplus (deficit) before depreciation	$171	-$6,755	$9,063	$12,093	-$13,483
As % of expenses	0.1%	-6.0%	9.9%	11.6%	-16.9%
Unrestricted surplus (deficit) after depreciation	$171	-$6,755	$9,063	$12,093	-$13,483
As % of expenses	0.1%	-6.0%	9.9%	11.6%	-16.9%

Revenue composition
Total revenue (unrestricted & restricted)	$117,705	$102,123	$99,620	$116,090	$66,095
Total revenue, % change over prior year	18.7%	-13.2%	-2.5%	16.5%	-43.1%
Program services revenue	0.2%	0.1%	0.0%	0.0%	0.0%
Membership dues	0.0%	0.1%	8.4%	0.7%	4.1%
Investment income	0.0%	0.0%	0.0%	0.0%	0.0%
Government grants	99.8%	99.8%	91.6%	89.6%	95.9%
All other grants and contributions	0.0%	0.0%	0.0%	9.7%	0.0%
Other revenue	0.0%	0.0%	0.0%	0.0%	0.0%

Expense composition
Total expenses before depreciation	$117,534	$112,168	$91,223	$103,998	$79,578
Total expenses, % change over prior year	13.4%	-4.6%	-18.7%	14.0%	-23.5%
Personnel	64.3%	54.3%	76.9%	79.8%	68.5%
Professional fees	6.1%	7.7%	12.3%	12.1%	12.8%
Occupancy	20.8%	23.1%	0.0%	0.0%	11.3%
Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Pass-through	0.0%	0.0%	0.0%	0.0%	0.0%
All other expenses	8.8%	14.9%	10.8%	8.1%	7.4%

Full cost components (estimated)	2019	2020	2021	2022	2023
Total expenses (after depreciation)	$117,534	$112,168	$91,223	$103,998	$79,578
One month of savings	$9,795	$9,347	$7,602	$8,667	$6,632
Debt principal payment	$0	$0	$0	$0	$0
Fixed asset additions	$0	$0	$0	$0	$0
Total full costs (estimated)	$127,329	$121,515	$98,825	$112,665	$86,210

Capital structure indicators

Liquidity	2019	2020	2021	2022	2023
Months of cash	0.8	0.4	3.8	4.7	3.8
Months of cash and investments	0.8	0.4	3.8	4.7	3.8
Months of estimated liquid unrestricted net assets	0.7	0.0	1.2	2.5	1.2

Balance sheet composition	2019	2020	2021	2022	2023
Cash	$7,461	$3,740	$29,107	$40,565	$25,247
Investments	$0	$0	$0	$0	$0
Receivables	$16,983	$10,230	$0	$0	$0
Gross land, buildings, equipment (LBE)	$0	$0	$0	$0	$0
Accumulated depreciation (as a % of LBE)	0.0%	0.0%	0.0%	0.0%	0.0%
Liabilities (as a % of assets)	74.6%	98.0%	67.7%	47.0%	68.3%
Unrestricted net assets	$7,085	$330	$9,393	$21,486	$8,003
Temporarily restricted net assets	$0	N/A	N/A	N/A	N/A
Permanently restricted net assets	$0	N/A	N/A	N/A	N/A
Total restricted net assets	$0	$0	$0	$0	$0
Total net assets	$7,085	$330	$9,393	$21,486	$8,003

Key data checks

Key data checks	2019	2020	2021	2022	2023
Material data errors	No	No	No	No	No

Operations

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

Documents

Letter of Determination is not available for this organization

Form 1023/1024 is not available for this organization

Executive Director

Ellen Susnow

Number of employees

Source: IRS Form 990

Greater Sheepshead Bay Developement Corp

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

This organization has no recorded board members.

Greater Sheepshead Bay Developement Corp

Mission

Is this your nonprofit?

Programs and results

What we aim to solve

This profile needs more info.

Our programs

Multicultural Affordable Housing Program

Where we work

Financials

Revenue vs. expenses: breakdown

Liquidity in 2023 info

1.46

Months of cash in 2023 info

3.8

Fringe rate in 2023 info

11%

Funding sources info

Assets & liabilities info

Financial data

Digitizing IRS form 990 data

Greater Sheepshead Bay Developement Corp

Greater Sheepshead Bay Developement Corp

Greater Sheepshead Bay Developement Corp

Business model indicators

Capital structure indicators

Key data checks

Operations

Documents

Executive Director

Ellen Susnow

Number of employees

Greater Sheepshead Bay Developement Corp

Compensation data

Liquidity in 2023

Months of cash in 2023

Fringe rate in 2023

Funding sources

Assets & liabilities