47th Street Business Improvement District Inc
- Assets
- $549.2k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 06/1998
- Data as of
- 06/2022
- EIN
- 13-3944300
Organization Overview
47th Street Business Improvement District Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 47th Street Business Improvement District Inc 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 06/2022, 47th Street Business Improvement District Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SECURITY, SANITATION AND MARKETING SERVICES TO JEWELRY MERCHANTS IN THE 5TH AVENUE AND 47TH STREET AREA.
Describe the Organization's Program Activity:
SANITATION AND STREETSCAPE - MAINTAINING CLEAN STREETS/CURBS, REMOVING GARBAGE AND GRAFFITI, AND IMPROVING THE OVERALL APPEARANCE OF THE DISTRICT THROUGH A COMBINATION OF PROJECTS INCLUDING LIGHTING AND PUBLIC FIXTURES.
SECURITY - PROVIDING INCREASED SECURITY THOUGHT A COMBINATION OF NEW CITY POLICE OFFICERS BEING PAID THOUGH THE NEW YORK CITY'S PAID DETAIL UNIT OF THE NYPD AND A CLOSE WORKING RELATIONSHIP WITH THE NEW YORK CITY POLICE DEPARTMENT FOR SUPPLEMENTAL SERVICES.
PROMOTION - PROMOTING NEW YORK CITY ICONIC DIAMOND DISTRICT TO RESIDENTS AND TOURIST THROUGH ADVERTISING AND EVENTS HELD WITHIN THE THE DIAMOND DISTRICT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harvey Nagin President | OfficerTrustee | 15 | $0 |
Steven Grauer Chair | OfficerTrustee | 20 | $0 |
Dennis Marlow Secretary | OfficerTrustee | 5 | $0 |
Yale Zoland Treasurer | OfficerTrustee | 5 | $0 |
Adnan Aydin Director | Trustee | 2 | $0 |
Ben Krischer Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,000 |
| Total Program Service Revenue | $1,360,504 |
| Investment income | $211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,395,715 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $156,168 |
| Compensation of current officers, directors, key employees. | $54,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,674 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,100 |
| Fees for services: Lobbying | $34,524 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $899,387 |
| Advertising and promotion | $0 |
| Office expenses | $13,464 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,376 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $455 |
| Insurance | $31,168 |
| All other expenses | $2,550 |
| Total functional expenses | $1,255,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $292,731 |
| Savings and temporary cash investments | $200,074 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,390 |
| 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 | $21,501 |
| Net Land, buildings, and equipment | $3,197 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $330 |
| Total assets | $549,223 |
| Accounts payable and accrued expenses | $26,102 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $26,102 |
| Net assets without donor restrictions | $523,121 |
| Net assets with donor restrictions | $0 |
| 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 | $549,223 |