Brooklyn Community Foundation
- Assets
- $117.9m
- Revenue
- $42.8m
- Investments
- $35.4m
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 07/1999
- Data as of
- 06/2021
- EIN
- 11-3422729
Organization Overview
Brooklyn Community Foundation is located in Brooklyn, NY. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brooklyn Community Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Brooklyn Community Foundation generated $42.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 37.7% each year . All expenses for the organization totaled $15.2m during the year ending 06/2021. While expenses have increased by 18.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Brooklyn Community Foundation has awarded 1,022 individual grants totaling $31,994,815. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SPARK LASTING SOCIAL JUSTICE CHANGE, MOBILIZING PEOPLE, CAPITAL, & EXPERTISE FOR A FAIR BROOKLYN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BK COVID19 RESPONSE FUND: IN MARCH 2020, THE FOUNDATION LAUNCHED AN EMERGENCY FUND IN RESPONSE TO THE COVID19 PANDEMIC, ONE OF THE FIRST IN THE NATION. THE FUND HAS SINCE BECOME THE LARGEST COMMUNITY-SUPPORTED EMERGENCY RESPONSE IN THE FOUNDATION'S HISTORY. IN THE FIRST PHASE OF THE FUND, 420 GRANTS WERE AWARDED TO 246 ORGANIZATIONS ACROSS OUR BOROUGH.
DONOR ADVISED FUNDS: THIS PROGRAM PROVIDES CUSTOMIZED SUPPORT, GUIDANCE AND SERVICES TO DONORS WHO OPEN A DONOR ADVISED FUND WITH THE FOUNDATION. FROM JANUARY TO JUNE 2020, THE FOUNDATION ISSUED OVER $2.1 MILLION IN DONOR DIRECTED GRANTS - 70% OF WHICH WENT TO BROOKLYN NONPROFITS.
BROOKLYN ACCELERATOR IS A MULTI-FACETED INITIATIVE DESIGNED TO BOLSTER AND BUILD CAPACITY IN THE BOROUGH'S NONPROFIT SECTOR, ANCHORED BY TWO SIGNATURE PROGRAMS: THE SPARK PRIZE FOR BROOKLYN NONPROFITS AND THE INCUBATOR PROJECT FOR START-UP ORGANIZATIONS AND LEADERS. (CONTINUED ON SCHEDULE O)SPARK PRIZE: CREATED TO CELEBRATE BROOKLYN NONPROFITS AND ENCOURAGE GREATER LOCAL GIVING. IN 2019, FIVE BROOKLYN NONPROFITS RECEIVED A SPARK PRIZE OF $100,000 EACH. IN ADDITION, THE FOUNDATION CREATED BROOKLYN GIVES, A CROWD-FUNDING CAMPAIGN IN CONJUNCTION WITH #GIVING TUESDAY, THROUGH WHICH IT AWARDED $100,000 IN MATCHING GRANTS TO 20 FINALISTS IDENTIFIED THROUGH THE SPARK PRIZE SELECTION PROCESS. INCUBATOR PROJECT: CREATED TO PROVIDE A SPRINGBOARD FOR EXCITING, EMERGING BROOKLYN ORGANIZATIONS. WITH OUR HEADQUARTERS IN CROWN HEIGHTS, THE FOUNDATION SUPPORTS A SMALL COHORT OF STARTUP NONPROFITS BY PROVIDING FREE CO-WORKING SPACE FOR 18 MONTHS, CUSTOMIZED TECHNICAL ASSISTANCE AND CAPACITY BUILDING SUPPORT, AND A $5,000 STIPEND.
IMMIGRANT RIGHTS FUND, BK ELDERS FUND, AND OTHER.
DONOR ADVISED FUNDS: THIS PROGRAM PROVIDES CUSTOMIZED SUPPORT, GUIDANCE AND SERVICES TO DONORS WHO OPEN A DONOR ADVISED FUND WITH THE FOUNDATION. IN FY21, THE FOUNDATION ISSUED OVER $7 MILLION IN DONOR DIRECTED GRANTS - OVER 60% OF WHICH WENT TO BROOKLYN NONPROFITS.
INVEST IN YOUTH GRANT PORTFOLIO: IN FY21, THE FOUNDATION INVESTED OVER $2.34 MILLION THROUGH A UNIQUE SET OF PROGRAMS TO 55 YOUTH-SERVING NONPROFITS FROM OUR INVEST IN YOUTH GRANT PROGRAM.
BROOKLYN COMMUNITY FOUNDATION LAUNCHED THE BROOKLYN COVID-19 RESPONSE FUND IN MARCH 2020 WITH AN EXPLICIT FOCUS ON RACIAL JUSTICE AND CENTERING COMMUNITIES OF COLOR. THE FUND HAS SINCE BECOME THE LARGEST COMMUNITY-SUPPORTED EMERGENCY RESPONSE IN THE FOUNDATION'S HISTORY, WITH OVER $6.5 MILION IN COMMITMENTS TO NONPROFITS ACROSS THE BOROUGH.
BROOKLYN ELDERS FUND: IN MARCH 2019, BROOKLYN COMMUNITY FOUNDATION OFFICIALLY ANNOUNCED THE LAUNCH OF THE BROOKLYN ELDERS FUND, A NOW $16 MILLION ENDOWED FUND TO PROMOTE THE CARE AND WELFARE OF OLDER ADULTS IN BROOKLYN. THE FIRST OF ITS KIND TO TACKLE ISSUES AFFECTING AGING BROOKLYNITES, THE FUND BRINGS TOGETHER OLDER ADULTS, POLICYMAKERS, AND COMMUNITY-BASED NONPROFITS TO SUPPORT BOTH PROVEN STRATEGIES AND INNOVATIVE APPROACHES TO PROVIDING THE CARE AND SUPPORT THAT OUR AGING POPULATION NEEDS.OTHER PROGRAMS ALSO INCLUDE: - IMMIGRANT RIGHTS FUND- CENSUS 2020- OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecilia Clarke President & CEO | Officer | 35 | $0 |
Sarah Shannon Chief Operating Officer | 35 | $159,865 | |
Marcella Tillett Vice President Of Programs | 35 | $147,008 | |
Liane Stegmaier Vice President Of Communications | 35 | $111,194 | |
Jenny Walski Director Of Donor Engagement | 35 | $109,213 | |
Nicole Gueron Co-Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7,525 |
| Related organizations | $0 |
| Government grants | $3,106,681 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,474,629 |
| Noncash contributions included in lines 1a–1f | $1,552,661 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,581,310 |
| Total Program Service Revenue | $0 |
| Investment income | $560,999 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,626,486 |
| Net Income from Fundraising Events | $10,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,787,989 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,450,452 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $294,369 |
| Compensation of current officers, directors, key employees. | $92,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $989,412 |
| Pension plan accruals and contributions | $35,674 |
| Other employee benefits | $138,395 |
| Payroll taxes | $86,440 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,186 |
| Fees for services: Accounting | $71,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $174,560 |
| Fees for services: Other | $420,541 |
| Advertising and promotion | $59,615 |
| Office expenses | $130,505 |
| Information technology | $119,599 |
| Royalties | $0 |
| Occupancy | $114,352 |
| Travel | $413 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,729 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,348 |
| Insurance | $18,707 |
| All other expenses | $0 |
| Total functional expenses | $15,163,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,063,951 |
| Savings and temporary cash investments | $21,006,040 |
| Pledges and grants receivable | $411,687 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,269 |
| Net Land, buildings, and equipment | $44,134 |
| Investments—publicly traded securities | $59,845,107 |
| Investments—other securities | $35,429,977 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,775 |
| Total assets | $117,862,940 |
| Accounts payable and accrued expenses | $261,638 |
| Grants payable | $1,758,292 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $30,859 |
| Total liabilities | $2,050,789 |
| Net assets without donor restrictions | $113,120,604 |
| Net assets with donor restrictions | $2,691,547 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $117,862,940 |
Grants Awarded
Over the last fiscal year, Brooklyn Community Foundation has awarded $14,522,562 in support to 433 organizations.
| Grant Recipient | Amount |
|---|---|
Brooklyn, NY PURPOSE: DAF | $636,700 |
Brooklyn, NY PURPOSE: GENERAL SUPPORT | $512,500 |
Los Angeles, CA PURPOSE: DAF | $500,000 |
Washington, DC PURPOSE: DAF | $500,000 |
Brooklyn, NY PURPOSE: DAF | $412,500 |
New York, NY PURPOSE: DAF | $375,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Brooklyn Community Foundation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
De La Cour Family Foundation Glen Cove, NY PURPOSE: TO HELP FUND THE RECIPIENTS OPERATING BUDGET | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
The Comcast Nbcuniversal Foundation Philadelphia, PA | $16,720,236 | $25,679,760 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |
Oneworld Boston Inc Woburn, MA | $219,473,176 | $23,349,707 |
Deloitte Foundation Stamford, CT | $61,773,232 | $17,876,963 |
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Verizon Foundation Basking Ridge, NJ | $26,429,657 | $21,584,016 |
Nsn Foundation Inc Roseland, NJ | $55,407,565 | $72,760,212 |
Arconic Charitable Foundation Pittsburgh, PA | $0 | $10,360,918 |