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Queens Economic Development Corporation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Economic Development (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$2.99M (2023)

Expenses
$2.98M (2023)

Total Assets
$2.56M (2023)

Total Liabilities
$305k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,989,661
Expenses
$2,975,906
Net Income
$13,755
Net Assets
$2,251,059
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,545,454
85.1%
Program Services $444,153
14.9%
Investment Income $54
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $129,265
4.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,555,923
Total Liabilities $304,864
Net Assets $2,251,059
Compensation
Key Employees and Officers Compensation Related Other
Seth Bornstein (Executive Director) $147,500 $0 $0
Philippa Karteron (Board Member) $0 $0 $0
Winston Crosswell (Vice President) $0 $0 $0
Tracy Capune (President) $0 $0 $0
Anita Siravastava (Treasurer) $0 $0 $0
Leonard D'amico (Board Member) $0 $0 $0
James Bua (Board Member) $0 $0 $0
Omar Baptiste (Board Member) $0 $0 $0
Stephen Franklin (Member) $0 $0 $0
Verdia Noel (Board Member) $0 $0 $0
Gianna Frederique (Board Member) $0 $0 $0
Aidan O'donnell (Board Member) $0 $0 $0
Ryan Walsh (Board Member) $0 $0 $0
Mark Lucaj (Board Member) $0 $0 $0
Stephen Levin (Board Member) $0 $0 $0
Ben Guttmann (Board Member) $0 $0 $0
Bill Singh (Board Member) $0 $0 $0
Veronica Rose (Board Member) $0 $0 $0
Shurn Anderson (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,596,167
Expenses
$2,554,115
Net Income
$42,052
Net Assets
$2,237,304
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,009,626
77.4%
Program Services $565,368
21.8%
Investment Income $21,173
0.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $195,400
7.7%
Professional Fundraising Fees $0
Other Salaries and Wages $1,000,655
39.2%
Assets/Debt
Total Assets $2,366,553
Total Liabilities $129,249
Net Assets $2,237,304
Compensation
Key Employees and Officers Compensation Related Other
Seth Bornstein (Executive Director) $135,000 $0 $0
Philippa Karteron (Board Member) $0 $0 $0
Winston Crosswell (Vice President) $0 $0 $0
Tracy Capune (President) $0 $0 $0
Omar Baptiste (Board Member) $0 $0 $0
Leonard D'amico (Board Member) $0 $0 $0
James Bua (Board Member) $0 $0 $0
Frederigue Gianna (Board Member) $0 $0 $0
Stephen Franklin (Audit Comm. Chair) $0 $0 $0
Verdia Noel (Secretary) $0 $0 $0
Aiden O'donnell (Board Member) $0 $0 $0
Anita Siravastava (Treasurer) $0 $0 $0
Ryan Walsh (Board Member) $0 $0 $0
Mark Lucaj (Board Member) $0 $0 $0
Stephen Levin (Board Member) $0 $0 $0
Ben Guttmann (Executive Committee) $0 $0 $0
Bill Singh (Board Member) $0 $0 $0
Veronica Rose (Board Member) $0 $0 $0
Shurn Anderson (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,838,360
Expenses
$2,321,163
Net Income
$517,197
Net Assets
$2,195,252
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,840,700
64.9%
Program Services $986,628
34.8%
Investment Income $11,032
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $127,500
5.5%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,302,292
Total Liabilities $107,040
Net Assets $2,195,252
Compensation
Key Employees and Officers Compensation Related Other
Seth Bornstein (Executive Director) $127,500 $0 $0
Philippa Karteron (Board Member) $0 $0 $0
Winston Crosswell (Board Member) $0 $0 $0
Tracy Capune (President) $0 $0 $0
Ernest Cury (Treasurer) $0 $0 $0
Leonard D'amico (Board Member) $0 $0 $0
James Bua (Board Member) $0 $0 $0
Emily Lin (Chairperson) $0 $0 $0
Stephen Franklin (Audit Comm. Chair) $0 $0 $0
Verdia Noel (Board Member) $0 $0 $0
Michael Rodin (Board Member) $0 $0 $0
Patty Clark (Board Member) $0 $0 $0
Lawrence Sokol (Board Member) $0 $0 $0
Pauline Huang (Board Member) $0 $0 $0
Stephen Levin (Board Member) $0 $0 $0
Ben Guttmann (Board Member) $0 $0 $0
Bill Singh (Board Member) $0 $0 $0
Veronica Rose (Board Member) $0 $0 $0
Shurn Anderson (Board Member) $0 $0 $0
Mark Lucaj (Board Member) $0 $0 $0
Ryan Walsh (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,353,445
Expenses
$2,198,317
Net Income
$155,128
Net Assets
$1,718,055
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,387,195
58.9%
Program Services $961,341
40.8%
Investment Income $4,909
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $127,500
5.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,065,261
Total Liabilities $347,206
Net Assets $1,718,055

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,057,657
Expenses
$1,917,705
Net Income
$139,952
Net Assets
$1,562,927
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,350,368
65.6%
Program Services $706,363
34.3%
Investment Income $926
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $120,000
6.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,711,544
Total Liabilities $148,617
Net Assets $1,562,927

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,850,029
Expenses
$1,818,318
Net Income
$31,711
Net Assets
$1,424,770
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,196,152
64.7%
Program Services $651,442
35.2%
Investment Income $2,435
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $126,000
6.9%
Professional Fundraising Fees $0
Other Salaries and Wages $742,810
40.9%
Assets/Debt
Total Assets $1,619,183
Total Liabilities $194,413
Net Assets $1,424,770

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,881,408
Expenses
$1,850,421
Net Income
$30,987
Net Assets
$1,393,059
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,186,948
63.1%
Program Services $694,064
36.9%
Investment Income $396
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $120,000
6.5%
Professional Fundraising Fees $0
Other Salaries and Wages $743,695
40.2%
Assets/Debt
Total Assets $1,597,871
Total Liabilities $204,812
Net Assets $1,393,059

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,922,750
Expenses
$1,776,633
Net Income
$146,117
Net Assets
$1,362,072
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,098,240
57.1%
Program Services $823,494
42.8%
Investment Income $1,016
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $120,000
6.8%
Professional Fundraising Fees $0
Other Salaries and Wages $634,158
35.7%
Assets/Debt
Total Assets $1,641,750
Total Liabilities $279,678
Net Assets $1,362,072

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,666,347
Expenses
$1,658,054
Net Income
$8,293
Net Assets
$1,215,955
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,027,100
61.6%
Program Services $630,036
37.8%
Investment Income $5,499
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,712
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $122,970
7.4%
Professional Fundraising Fees $0
Other Salaries and Wages $605,976
36.5%
Assets/Debt
Total Assets $1,459,646
Total Liabilities $243,691
Net Assets $1,215,955

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,735,070
Expenses
$1,782,930
Net Income
-$47,860
Net Assets
$1,207,641
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,033,584
59.6%
Program Services $694,681
40.0%
Investment Income $375
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $6,430
0.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $110,000
6.2%
Professional Fundraising Fees $0
Other Salaries and Wages $659,322
37.0%
Assets/Debt
Total Assets $1,424,954
Total Liabilities $217,313
Net Assets $1,207,641

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,603,459
Expenses
$1,623,058
Net Income
-$19,599
Net Assets
$1,255,501
Notable Sources of Revenue Percent of Total Revenue
Contributions $973,240
60.7%
Program Services $624,718
39.0%
Investment Income $1,801
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,700
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $110,000
6.8%
Professional Fundraising Fees $0
Other Salaries and Wages $567,469
35.0%
Assets/Debt
Total Assets $1,464,513
Total Liabilities $209,012
Net Assets $1,255,501

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,588,394
Expenses
$1,518,649
Net Income
$69,745
Net Assets
$1,227,997
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,061,424
66.8%
Program Services $522,806
32.9%
Investment Income $768
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,396
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $110,000
7.2%
Professional Fundraising Fees $0
Other Salaries and Wages $509,953
33.6%
Assets/Debt
Total Assets $1,450,792
Total Liabilities $222,795
Net Assets $1,227,997

Document Links

Fiscal Year Ending June
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,360,239
Expenses
$1,428,104
Net Income
-$67,865
Net Assets
$1,158,252
Notable Sources of Revenue Percent of Total Revenue
Contributions $922,486
67.8%
Program Services $434,374
31.9%
Investment Income $1,114
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,265
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $103,750
7.3%
Professional Fundraising Fees $0
Other Salaries and Wages $432,743
30.3%
Assets/Debt
Total Assets $1,349,411
Total Liabilities $191,159
Net Assets $1,158,252

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

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