Public Charity

SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION

SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION, of BRONX, NY, is a Public Charity tracked in Imperigo's IRS 990 database. The 2023 filing shows $8.9M in revenue, $10.7M in expenses, $10.2M in total assets. 23 publicly reported grants to this organization, totaling roughly $3.5M, appear in IRS filings.

EIN: 132736022 BRONX, NY Urban & Community Economic Development NTEE: S31 Latest filing: 2023
Total Revenue$8.9M
Total Expenses$10.7M
Total Assets$10.2M
Grant Records23
Funding Total$3.5M
Filing Years2019–2023

Mission

OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN THE SOUTH BRONX BY STRENGTHENING BUSINESSES AND CREATING INNOVATIVE ECONOMIC, HOUSING, EDUCATIONAL, AND CAREER DEVELOPMENT PROGRAMS FOR YOUTH AND ADULTS. SOBRO WAS FOUNDED IN 1972 BY A GROUP OF BUSINESS EXECUTIVES AND COMMUNITY LEADERS. OUR TASK WAS URGENT: REVERSE THE FLIGHT OF BUSINESSES AND JOBS FROM THE SOUTH BRONX. IT WAS THE FIRST AND MOST FUNDAMENTAL STEP TOWARD REBUILDING A COMMUNITY WHOSE NAME EVOKED IMAGES OF BURNED BUILDINGS, CRIME, POVERTY AND DRUGS. BUT AS SOBRO BEGAN TO EVOLVE, IT BECAME CLEARER THAT COMMUNITY REVITALIZATION REQUIRED A MULTI-FACETED EFFORT. TODAY, WE ADDRESS ALL ASPECTS OF COMMUNITY DEVELOPMENT: ASSISTING BUSINESSES TO GET STARTED AND GROW, TRAINING RESIDENTS ACCORDING TO THE NEEDS OF EMPLOYERS, OFFERING OPPORTUNITIES FOR YOUTH TO LEARN AND DEVELOP, AND CREATING AFFORDABLE HOUSING AND COMMERCIAL SPACES THAT REVERSE BLIGHT IN THE COMMUNITY.

Officers & Directors

SECRETARY Anthony M Riccio Jr
VICE CHAIR Arline Parks
BOARD MEMBER Conor Mccarthy
CAO Delilah Tyson
BOARD MEMBER Hugh Grant
BOARD MEMBER Jennifer Rivera

Officer compensation and complete director data available with membership.

Top Grant Purposes

EXPANDED LEARNING
$1,104,125 5 grants
EXPANDED LEARNING TIME
$798,945 4 grants
AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE.
$641,320 2 grants
AN UNRESTRICTED GRANT TO FURTHER the donee's exempt purpose.
$268,386 1 grant
AN UNRESTRICTED GRANT TO FURTHER THE DONEES EXEMPT PURPOSE
$268,386 1 grant

Financial Trends

Year Revenue Expenses Assets
2023 $8.9M $10.7M $10.2M
2022 $12.0M $12.2M $9.4M
2021 $9.5M $8.3M $11.3M
2020 $15.1M $11.3M $7.4M
2019 $14.5M $12.7M $5.7M

Between 2019 and 2023, reported annual revenue declined from $14.5M to $8.9M (-39%), with total assets most recently reported at $10.2M.

Interactive year-over-year charts and full filing details available with membership.

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