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Southwest Brooklyn Industrial Development Corporation

EIN 11-2508370 · Brooklyn, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair57 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$1.3 million
Spending
$1.4 million
Spent on programs
80%
Reserves
6.2 months of spending
Largest source of income
government grants, 68%
Employees
0
Volunteers
14
Highest pay
$183,479, executive director

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 57 out of 100. Higher than 30% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 6.2 months of spending.

  • Debt

    10 of 20

    It owes 32% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 6% of income.

  • Income trend

    0 of 15

    Income fell 36% on the year before.

  • Spending floor

    15 of 15

    80% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    13 of 13 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $1.1 million spent. 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.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since June 1980.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.