Program areas at Renaissance Economic Development Corporation
Small business loans program - redc lends money to small businesses in its target communities. Many of these small business borrowers operate business in the retail, wholesale, restaurant, and certain personal service industries with their primary business operations located in manhattan, queens, and brooklyn.
Technical assistance & education - redc provides targeted technical assistance to low income, minority, women and immigrant entrepreneurs & small business owners, helping them to overcome traditional impediments to business growth and success. Redc specializes in serving businesses in its target markets that banks and government programs cannot serve, such as low income, start-up, thinly capitalized enterprises whose owners are often hobbled by poor or non-existent english skills and unfamiliarity with the banking system in this country.
Who funds Renaissance Economic Development Corporation
Grants from foundations and other nonprofits
Personnel at Renaissance Economic Development Corporation
| Name | Title | Compensation | Date of data |
|---|
| Tim Jung | Chief Financial Officer | $0 | 2021-12-31 |
| Joy Suzanne Granado | Chief Accounting Officer | $0 | 2022-12-31 |
| Jessie Lee | Managing Director | $170,077 | 2023-12-22 |
| Thomas Yu | Board Chair | $0 | 2023-12-22 |
| Jannie Lai | Director of Programs | $104,898 | 2023-12-22 |
| ...and 5 more key personnel |
Financials for Renaissance Economic Development Corporation
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $3,866,453 | $4,494,801 | -14% |
| Program services | $539,706 | $1,097,566 | -50.8% |
| Investment income and dividends | $24,572 | $5,124 | 379.5% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $-209,224 | $-158,756 | -31.8% |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $4,221,507 | $5,438,735 | -22.4% |
Organizations like Renaissance Economic Development Corporation
| Organization | Type | Location | Revenue |
|---|
| Seattle Economic Development Fund Business Impact NW | 501(c)(3) | Tukwila, WA | $6,779,426 |
| Chicago Community Loan Fund (CCLF) | 501(c)(3) | Chicago, IL | $14,555,763 |
| Dakota Resources | 501(c)(3) | Renner, SD | $2,438,799 |
| Common Capital | 501(c)(3) | Springfield, MA | $1,986,861 |
| Craft3 | 501(c)(3) | Astoria, OR | $19,219,259 |
| Grow South Dakota / Northeast South Dakota Economic Corporation | 501(c)(3) | Sisseton, SD | $1,331,875 |
| Economic and Community Development Institute (ECDI) | 501(c)(3) | Columbus, OH | $13,823,454 |
| Community Loan Fund of the Capital Region | 501(c)(3) | Albany, NY | $2,816,861 |
| Working Solutions Cdfi | 501(c)(3) | San Francisco, CA | $6,684,587 |
| Anchor Financial Services | 501(c)(3) | Perrysburg, OH | $2,012,501 |
Data update history
January 20, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 20, 2024
Updated personnel
Identified 2 new personnel
December 23, 2023
Updated personnel
Identified 3 new personnel
Nonprofit Types
Business and community development organizationsCommunity Development Financial InstitutionsChapter / child organizationsCharities
Issues
Community improvementImmigrationEconomic development
Characteristics
Receives government fundingTax deductible donationsAccepts online donations
General information
- Address
- 2 Allen St 7th Floor
- New York, NY 10002
- Metro area
- New York-Newark-Jersey City, NY-NJ-PA
- County
- New York County, NY
- Website URL
- renaissancesbs.org/Â
- Phone
- (212) 964-6022
- Facebook page
- Renaissance-Economic-Development-CorporationÂ
IRS details
- EIN
- 13-3946529
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1997
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S30: Economic Development
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Subordinate organization
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