on a number of factors.
Bowery Residents' Committee (BRC)
131 West 25th Street
New York, NY 10001
Ratings & Metrics
|Entity||Document Type||Tax ID|
|Bowery Residents' Committee & Affiliated Organizations||Audited Combined Financial Statements||multiple|
|Bowery Residents' Committee||IRS Form 990||13-2736659|
Entity: Bowery Residents' Committee & Affiliated Organizations
Document Type: Audited Combined Financial Statements
Tax ID: multiple
Entity: Bowery Residents' Committee
Document Type: IRS Form 990
Tax ID: 13-2736659
Governance & Transparency
|2||Angela Kedzior||Chief Medical Officer||$333,991|
|3||David Tatum||Chief Program Officer||$321,461|
Name: Lawrence Rosenblatt
Name: Angela Kedzior
Title: Chief Medical Officer
Name: David Tatum
Title: Chief Program Officer
According to the Bowery Residents' Committee (BRC) combined audit of June 30, 2021 (Note 9, Loans Payable):
"On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act. During April 2021 the Organization received a loan in the amount of $9,779,820 pursuant to the Paycheck Protection Program (PPP). The Organization has elected to account for the funding as a loan... The loan is due five years from the date of the first disbursement under the loan and has a fixed interest rate of 1 percent per year. Any forgiveness of the loan will be recognized as a gain in the financial statements in the period the debt is legally released. PPP loans are subject to audit and acceptance by the U.S. Department of Treasury, Small Business Administration or lender; as a result of such audit, adjustments could be required to any gain recognized."
According to the Bowery Residents' Committee (BRC) combined audit of June 30, 2021 (Note 15, Significant Estimates and Concentrations, Contributions): "Approximately 20 percent and 16 percent of all contributions were received from one and two donors in 2021 and 2020, respectively."
According to the Bowery Residents' Committee (BRC) combined audit of June 30, 2021 (Note 15, Significant Estimates and Concentrations, Labor Agreement):
"Approximately 63 percent of the Organization's employees are covered by collective bargaining agreements. The collective bargaining agreements expires [sic] on June 30, 2021, and negotiations for renewal are ongoing."
According to the Bowery Residents' Committee (BRC) combined audit of June 30, 2021 (Note 16, Economic Uncertainties):
"As a result of the spread of the COVID-19 coronavirus pandemic, economic uncertainties have arisen which my negatively affect the financial position, changes in net assets and cash flows of the Organization. The duration of these uncertainties and the ultimate financial effects cannot be reasonably estimated at this time.
"During the reporting period, and supported by emergency orders of the NYC Mayor, BRC significantly increased its residential capacity and budgeted workforce. Further, BRC participated in the major temporary relocation of clients from shelters to hotels, which resulted in temporary increases in expenses. As a result of the passage of the American Rescue Plan in 2021, BRC was finally eligible to and did participate in the Paycheck Protection Program, as described in Note 9 [portion cited separately, above].
"While certainly not immune to the impacts of the COVID-19 crisis, BRC is proud of the successful emergency response actions that we implemented for our clients, our staff and our sector. We have remained resilient and operational, and it is important to note that our clients continue to achieve significant and positive outcomes..."