2026-03-26T12:24:54-05:00 2025-06-30 390974031 WEGNER CPAS LLP 230 PARK AVE FL 3 NEW YORK NY 101690005 990 2024-07-01 112508370 SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION SOUT 7189653100 4223 1ST AVENUE 2 BROOKLYN NY 11232 JESSE SOLOMON EXECUTIVE DIRECTOR 7189653100 2026-03-25 1 1 YIGIT UCTUM CPA P01269549 2125511724 2026-03-25 2024 2025-03-06 01:10:19Z JESSE SOLOMON 4223 1ST AVENUE 2 BROOKLYN NY 11232 1400911 0 X SBIDC.ORG X 1978 NY SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION (SBIDC) PROVIDES ADVOCACY AND SERVICES TO HELP BUSINESSES IN THE SUNSET PARK, RED HOOK AND GOWANUS NEIGHBORHOODS GROW AND CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS. 13 13 0 14 0 0 1865674 1212343 0 0 62 83 207118 118308 2072854 1330734 0 0 0 0 729436 845572 12000 0 30701 461437 569216 1202873 1414788 869981 -84054 1600101 1954999 179571 618523 1420530 1336476 X SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION PROVIDES ADVOCACY AND SERVICES TO HELP BUSINESSES IN THE SUNSET PARK, RED HOOK AND GOWANUS NEIGHBORHOODS GROW AND CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS. 0 0 1129671 0 0 AS WE HAVE SINCE 1978, SBIDC HAS WORKED TIRELESSLY TO ENSURE THAT THE INDUSTRIAL CORE OF SOUTHWEST BROOKLYN REMAINS STRONG AND THAT IT REMAINS A CENTER OF OPPORTUNITY FOR WORKERS THROUGHOUT THE AREA. OUR UNIQUE COMBINATION OF DIRECT BUSINESS SERVICES, WORKFORCE DEVELOPMENT AND TRAINING, ENTREPRENEURSHIP TRAINING, COMMUNITY PLANNING AND REVITALIZATION, AND ADVOCACY HELPED BUSINESSES THROUGHOUT SOUTHWEST BROOKLYN THRIVE IN A MARKET AND A CITY THAT CAN BE CHALLENGING FOR MANUFACTURERS AND OTHER INDUSTRIAL BUSINESSES. CHALLENGES INCLUDE A COMPETITIVE REAL ESTATE MARKET THAT PRIORITIZES RESIDENTIAL AND COMMERCIAL TENANTS OVER INDUSTRIAL ONES; SUPPLY CHAIN CHALLENGES; RISING COSTS OF DOING BUSINESS IN AN URBAN ENVIRONMENT; AND A COMPETITIVE LABOR MARKET.SINCE JULY 2024, SBIDC SUPPORTED OVER 200 INDUSTRIAL EMPLOYERS SEEKING HELP WITH COMPLEX FINANCING PROGRAMS, NEW BUSINESS DEVELOPMENT OPPORTUNITIES, RECRUITING EMPLOYEES, NAVIGATING GOVERNMENT REGULATIONS, AND LARGE-SCALE REZONING PROPOSALS IN BROOKLYN. SBIDC OFFERS BUSINESS EDUCATION PROGRAMMING FOCUSED ON BUSINESS DEVELOPMENT STRATEGIES AND FINANCIAL GROWTH. IN 2025, SBIDC ALSO LAUNCHED A NEW PROGRAM CALLED WE SOURCE, WHICH AIMS TO CONNECT LOCAL SMALL BUSINESSES TO OPPORTUNITIES IN THE OFFSHORE WIND SECTOR AND LARGER GREEN ECONOMY. AS PART OF THIS PROJECT, WE ARE PROVIDING 20 FIRMS WITH DIRECT PROCUREMENT ASSISTANCE AND 40 HOURS EACH OF BUSINESS CONSULTING SUPPORT SPECIFIC TO THE GREEN ECONOMY AND OFFSHORE WIND SECTOR. IN ADDITION TO OUR NEW PROGRAMS, WE ALSO OFFERED TWO SEMESTERS OF OUR PLAN FOR GROWTH BUSINESS EDUCATION COURSE, AN 8-WEEK PROGRAM THAT HELPS MWBES AND DBES CREATE A PLAN FOR GROWTH. THE PROGRAM INCLUDED COURSES ON MARKETING, FINANCING, CHART OF ACCOUNTS, CUSTOMER DISCOVERY, AND MORE. WE GRADUATED 40 BUSINESSES FROM THESE PLAN FOR GROWTH COHORTS. TO DATE, THE PROGRAM HAS GRADUATED OVER 160 BUSINESS OWNERS. WE ALSO HOSTED FOUR WEBINARS ON CREDIT COUNSELING AND ACCESSING FINANCING THROUGHOUT THE YEAR. FINALLY, WE HOSTED TWO LARGE NETWORKING EVENTS FOR SMALL BUSINESSES. SBIDC'S WORKFORCE 1 CENTER INCLUDES A STAFF OF FOUR FULL-TIME WORKFORCE DEVELOPMENT PROFESSIONALS. OUR JOB DEVELOPERS HELPED PLACE 180 PEOPLE IN FULL TIME INDUSTRIAL JOBS THIS YEAR. OUR CAREER SERVICES MANAGER AND RECRUITMENT SPECIALIST SAW OVER 1000 CUSTOMERS, HELPING THEM WITH CAREER COUNSELING, RESUME BUILDING, AND REFERRALS TO WRAP AROUND SERVICES. THE TEAM ALSO PLACED 182 PEOPLE IN FULL-TIME INDUSTRIAL JOBS. SBIDC CONTINUED TO ADVOCATE FOR THE INDUSTRIAL WORKING WATERFRONT. WE JOINED THE BROOKLYN MARINE TASKFORCE TO ADVOCATE FOR MARITIME INDUSTRY THROUGHOUT THE INDUSTRIAL BUSINESS ZONE. WE ALSO INCREASED OUR REAL ESTATE ASSISTANCE SERVICES, HELPING TWO SMALL MANUFACTURERS LOCATE IN A NEW INDUSTRIAL BUILDING IN GOWANUS. 1129671 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 22 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X JESSE SOLOMON 7189653100 4223 1ST AVENUE SUITE 2 BROOKLYN NY 11232 JEFFREY LEE ROMERO CHAIRPERSON 2.00 X X 0 0 0 ELIZABETH DEMETRIOU SECRETARY 2.00 X X 0 0 0 SUSAN FERMISCO TREASURER 2.00 X X 0 0 0 MICHAEL DIMARINO DIRECTOR 2.00 X 0 0 0 PAUL GEVERTZMAN DIRECTOR 2.00 X 0 0 0 STEPHEN GIUMENTA DIRECTOR 2.00 X 0 0 0 CHRISTOPHER MURTHA DIRECTOR 2.00 X 0 0 0 MICHAEL JEFFREY SPINNER DIRECTOR 2.00 X 0 0 0 EILEEN THORNTON VAZQUEZ DIRECTOR 2.00 X 0 0 0 BLAKE TOMNITZ DIRECTOR 2.00 X 0 0 0 ALAN PETRILLI DIRECTOR 2.00 X 0 0 0 ALAN SAGE DIRECTOR 2.00 X 0 0 0 MIKE STAMATIS DIRECTOR 2.00 X 0 0 0 IRINA CONSTANTINE DIRECTOR (THRU SEPT 2024) 2.00 X 0 0 0 JESSE SOLOMON EXECUTIVE DIRECTOR 40.00 X 154838 0 28641 154838 0 28641 1 0 1 0 0 16462 31500 900381 264000 1212343 83 83 3000 0 3000 3000 3000 185485 31500 70177 115308 115308 1330734 0 0 118391 X 181726 101747 56069 23910 534551 534551 4160 3702 333 125 71550 63680 5724 2146 53585 47691 4287 1607 99080 99080 271163 261750 9413 5308 2697 2611 55312 35243 19168 901 21406 12285 9121 68334 41019 25975 1340 1636 701 721 214 17261 4813 12331 117 2589 2304 207 78 9429 7315 2114 JOB POSTINGS 13452 9215 4237 DUES AND SUBSCRIPTIONS 2883 939 1944 1363 19 1081 263 1414788 1129671 254416 30701 83412 282498 396815 347601 1104263 837552 14498 18501 227707 214417 1113 13290 0 455557 1600101 1954999 179571 159189 0 459334 179571 618523 X 622629 745913 797901 590563 1420530 1336476 1600101 1954999 -84054 0 X 0 1 X 1 0 X 1153981 1185513 1101233 1865674 1212343 6518744 1153981 1185513 1101233 1865674 1212343 6518744 802555 5716189 62 3083 3145 21355 12256 10229 43840 6565729 722194 0.87060 0.84280 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2020 AMOUNT: $ 21,355. 2021 AMOUNT: $ 12,256. 2022 AMOUNT: $ 10,229. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 97743 97743 0 63599 63599 0 66365 53075 13290 13290 OPERATING LEASE RIGHT OF USE ASSETS 455557 455557 OPERATING LEASE LIABILITIES 459334 459334 1428079 50500 50500 1377579 -46845 -46845 1330734 1512133 50500 46845 97345 1414788 0 1414788 PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES REPORTED ON PART VIII LINE 8B -46,845. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES REPORTED ON PART VIII LINE 8B 46,845. SUNSET SWING 216985 31500 185485 40970 855 28352 216985 31500 185485 40970 855 28352 70177 115308 X X X 0 0 0 0 0 0 0 0 0 JESSE SOLOMON EXECUTIVE DIRECTOR 146638 0 8200 0 0 0 3582 0 25059 0 183479 0 0 0 FORM 990, PART V, LINE 2A: SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION LEASES EMPLOYEES FROM A PROFESSIONAL EMPLOYMENT ORGANIZATION, INSPERITY PEO SERVICES, L.P. THE EMPLOYEES ARE CONSIDERED COMMON LAW EMPLOYEES OF SOUTHWEST BROOKLYN INDUSTRIAL DEVELOPMENT CORPORATION, HOWEVER, INSPERITY PEO SERVICES, L.P. IS THE EMPLOYER OF RECORD AND EMPLOYEES GET THEIR W2S FROM INSPERITY PEO SERVICES, L.P. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP SHALL BE OPEN TO PERSONS OR ORGANIZATIONS WHO OWN A BUSINESS OR CONDUCT BUSINESS OR OWN PROPERTY OR RESIDE WITHIN THE SERVICE AREA AS SPECIFIED BY THE BOARD OF DIRECTORS OF THE CORPORATION OR OTHER SUCH PERSONS THE BOARD DEEMS APPROPRIATE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE ORGANIZATION ELECT BOARD DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWED A DRAFT OF THE FORM 990 WITH THE AUDIT/FINANCE COMMITTEE AND PROVIDED EDITS TO THE TAX PREPARER. AFTER THIS PROCESS WAS PERFORMED, THE FORM 990 WAS SENT TO THE FULL BOARD OF DIRECTORS PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED AT LEAST ANNUALLY BY THE DIRECTORS. ALL DIRECTORS AND OFFICERS ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. A DIRECTOR OR OFFICER WITH A CONFLICT OF INTEREST IS PROHIBITED FROM PARTICIPATING IN DELIBERATIONS AND DECISIONS REGARDING THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A EACH YEAR, THE EXECUTIVE COMMITTEE REVIEWS COMPARABLE SALARIES BASED ON A RECOGNIZED STUDY AND REVIEWS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR AND OTHER OFFICERS AND KEY EMPLOYEES TO DETERMINE IF THE EXISTING SALARIES FALL WITHIN THESE RANGES. AFTER A DELIBERATION OF THIS MATTER, A NEW PROPOSED SALARY AND BENEFIT PACKAGE FOR EACH INDIVIDUAL IS VOTED ON. THE MINUTES OF THE BOARD OF DIRECTORS REFLECTS THE NATURE OF THIS PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROGRAM CONSULTANT FEES: PROGRAM SERVICE EXPENSES 261,750. MANAGEMENT AND GENERAL EXPENSES 9,413. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 271,163.