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The Organization creates and retains jobs through establishing programs throughout neighborhoods that assist small businesses and promote tourism and business development.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$3.4M
Program Spending
86%
of total expenses go to program services
Total Contributions
$3M
Total Expenses
▼$3.4M
Total Assets
$3M
Total Liabilities
▼$727K
Net Assets
$2.3M
Officer Compensation
→$140K
Other Salaries
$1.3M
Investment Income
$3,618
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$4.7M
Awards Found
17
Small Business Administration
$500K
QUEENS ECONOMIC DEVELOPMENT CORP - FY23 CONGRESSIONAL COMMUNITY PROJECT FUNDING
Department of Justice
$500K
FOR MANY OPERATING ONES OWN BUSINESS IS THE QUINTESSENTIAL AMERICAN DREAM. WHILE ATTAINABLE, IT IS NOT WITHOUT SIGNIFICANT CHALLENGES. FOR THOSE THAT HAVE BEEN INCARCERATED THE CHALLENGES ARE MULTIPLIED: EDUCATIONAL/KNOWLEDGE GAPS, EXPERIENCE, FINANCIAL BARRIERS, LEGAL ISSUES AND SUPPORT ISSUES.EDUCATION AND WORK EXPERIENCES ARE THE BIGGEST FACTORS.THEQUEENS ECONOMIC DEVELOPMENT CORPORATION (QEDC) IS PREPARED TO ADDRESS THESE OBSTACLES THROUGH A PROGRAMCOMPRISED OF THE FOLLOWING COMPONENTS: RECRUITMENT, ASSESSMENT, COUNSELING, AND MENTORSHIPS. WORKING WITH LOCAL ORGANIZATIONAL PARTNERS THAT PROVIDE COMPREHENSIVE SERVICES FOR THE FORMERLY INCARCERATED, WE WILL RECRUIT AND ASSESS THEIR CLIENTS WHO DESIRE TO OWN AND OPERATE A SMALL BUSINESS. ALL CLIENTS WILL BE REQUIRED TO UNDERGO CLASSES IN BASIC BUSINESS KNOWLEDGE. UPON SATISFACTORY COMPLETION, THEY WOULD ADVANCE TO SPECIALIZED TRAINING IN THEIR SELECTED INTEREST. WHILE WE HAVE CLASSES IN SELECTED FIELDS, MOST TRAINING WILL BE DONE INDIVIDUALLY USING QEDC COUNSELORS. CLIENTS WILL BE ASSIGNED MENTORS. AS MANY FORMERLY INCARCERATED MAY NOT HAVE HAD ROLE MODELS IN THE ENTREPRENEURIAL WORLD, WE BELIEVE THE MENTOR-CLIENT RELATIONSHIP IS VITAL. DURING THE PROGRAM WE WILL COORDINATE ALL EFFORTS WITH OUR PARTNER ORGANIZATIONS THAT PROVIDE SUPPORT IN OTHER AREAS OF THE CLIENTS LIFE. THOUGH THIS GRANT IS FINITE, ALL THOSE WHO PARTICIPATE WILL REMAIN QEDC CLIENTS BEYOND ITS TERM. CLIENTS WILL BE ENCOURAGED TO TAKE ADVANTAGE OF ALL QEDC PROGRAMS IN SERVICES INCLUDING CLASSES, CONTINUED COUNSELING, FUNDING OPPORTUNITIES AND NETWORKING EVENTS AND CLASSES.
Small Business Administration
$450K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE (BASE RENEWAL)
Department of Justice
$450K
THE FRESH PLATE FRESH START PROGRAM OF THE QUEENS ECONOMIC DEVELOPMENT CORPORATION (QEDC) IS A COMMUNITY-DRIVEN PROJECT THAT WILL TRAIN FORMERLY INCARCERATED CLIENTS SO THAT THEY CAN COMMENCE CAREERS IN THE LOCAL FOOD INDUSTRY: RESTAURANTS, MANUFACTURERS AND RETAILERS IN NEED OF SKILLED STAFF. THE COMPONENTS OF THE PROGRAM WILL INCLUDE BASIC TRAINING IN OBTAINING FOOD SAFETY CERTIFICATES, ADVANCED CULINARY TRAINING AS REQUIRED AND ASSISTANCE WITH INTERNSHIPS AND JOB PLACEMENT. THE QEDC WILL PARTNER WITH LOCAL ORGANIZATIONS THAT SUPPORT THE FORMERLY INCARCERATED INCLUDING FORTUNE SOCIETY, HOUR CHILDREN, AND WITNESS TO MASS INCARCERATION. AN IMPORTANT ASPECT WILL BE THE DEVELOPMENT OF A JOBS PORTAL CONNECTING RESTAURANT AND FOOD BUSINESS WITH EMPLOYMENT LISTINGS FOR PROGRAM PARTICIPANTS. SUPERVISED BY A PROGRAM MANAGER, IT WILL ALSO UTILIZE THE RESOURCES OF OUR CURRENT PROGRAMS INCLUDING INSTRUCTORS AND COUNSELORS. TRAINING AND CLASSES WOULD TAKE PLACE AT THE ENTREPRENEUR SPACE, QUEENS ONLY NON-PROFIT COMMERCIAL KITCHEN INCUBATOR. LEARNING ALONGSIDE SMALL FOOD BUSINESSES WILL PROVIDE REAL-LIFE EXPERIENCE.CLIENTS WILL BE OFFERED INTERNSHIPS WITH FOOD BUSINESSES THAT UTILIZE THE FACILITY. WORKINGWITH OUR NEIGHBORHOOD DEVELOPMENT DIVISION THAT PROVIDES ASSISTANCE TO LOCAL RESTAURANTS,WE WILL ENGAGE THEM TO BE PART OF THE OF THE PORTAL FOR THOSE SEEKING JOBS IN THE INDUSTRY. WE EXPECT TO SERVE 100 CLIENTS.
Small Business Administration
$420K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE - CARES ACT
Small Business Administration
$366.2K
WOMEN S BUSINESS OWNERSHIP ASSISTANCE-RENEWAL
Small Business Administration
$300K
WBC - NY - QUEENS ECONOMIC DEVELOPMENT CORPORATION
Small Business Administration
$300K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE NEW RENEWAL
Department of Housing and Urban Development
$250K
ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING, AND MISCELLANEOUS GRANTS
Small Business Administration
$217.2K
PROMOTE THE INTEREST OF SMALL BUSINESS CONCERNS OWNED AND CONTROLLED BY WOMEN AND REMOVE BARRIERS TOACCESSING CAPITAL
Small Business Administration
$165.6K
ENTREPRENEURIAL DEVELOPMENT DISASTER ASSISTANCE
Small Business Administration
$150K
QUEENS ECONOMIC DEVELOPMENT CORPORATION
Small Business Administration
$150K
QUEENS ECONOMIC DEVELOPMENT CORPORATION - CONTINUATION OPTION YEAR 2 (R-2020)
Small Business Administration
$0
WOMEN S BUSINESS OWNERSHIP ASSISTANCE (RENEWAL)
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
1
Clean Audits
1
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $1.3M | No | 2026-04-08 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.3M
Tax Year 2023 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $3.4M | $3M | $3.4M | $3M | $2.3M |
| 2022IRS e-File | $3M | $2.5M | $3M | $2.6M | $2.3M |
| 2021 | $2.8M | $1.8M | $2.3M | $2.3M | $2.2M |
| 2020 | $2.4M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2023)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Seth Bornstein | Executive Dir. | 35 | $140K | $0 | $0 | $140K |
Seth Bornstein
Executive Dir.
$140K
Hrs/Wk
35
Compensation
$140K
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Aaron Fernandez | Member | 1 | $0 | $0 | $0 | $0 |
| Anita Srivastava | Treasurer | 1 | $0 | $0 | $0 | $0 |
| Ben Guttmann | President | 1 | $0 | $0 | $0 | $0 |
| Brian Reynolds | Member | 1 | $0 | $0 | $0 | $0 |
| Danny Rojas | Member | 1 | $0 | $0 | $0 | $0 |
| David Sands | Member | 1 |
Aaron Fernandez
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Anita Srivastava
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Ben Guttmann
President
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $1.4M |
| $2.2M |
| $2.1M |
| $1.7M |
| 2019 | $2.1M | $1.4M | $1.9M | $1.7M | $1.6M |
| 2018 | $1.9M | $1.2M | $1.8M | $1.6M | $1.4M |
| 2017 | $1.9M | $1.2M | $1.9M | $1.6M | $1.4M |
| 2016 | $1.9M | $1.1M | $1.8M | $1.6M | $1.4M |
| 2015 | $1.7M | $1M | $1.7M | $1.5M | $1.2M |
| 2014 | $1.7M | $1M | $1.8M | $1.4M | $1.2M |
| 2013 | $1.6M | $973.2K | $1.6M | $1.5M | $1.3M |
| 2012 | $1.6M | $1.1M | $1.5M | $1.5M | $1.2M |
| 2011 | $1.4M | $922.5K | $1.4M | $1.3M | $1.2M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2008 | 990-EZ | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| $0 |
| $0 |
| $0 |
| $0 |
| Jeff Lambert | Member | 1 | $0 | $0 | $0 | $0 |
| Mark Lucaj | Member | 1 | $0 | $0 | $0 | $0 |
| Omar Baptiste | Member | 1 | $0 | $0 | $0 | $0 |
| Philippa Karteron | Member | 1 | $0 | $0 | $0 | $0 |
| Ryan Walsh | Member | 1 | $0 | $0 | $0 | $0 |
| Shurn Anderson | Member | 1 | $0 | $0 | $0 | $0 |
| Stephen Franklin | Exec. Com. | 1 | $0 | $0 | $0 | $0 |
| Stephen Levin | Member | 1 | $0 | $0 | $0 | $0 |
| Verdia Noel | Secretary | 1 | $0 | $0 | $0 | $0 |
| Victor Hunt | Member | 1 | $0 | $0 | $0 | $0 |
| Winston Crosswell | Vice President | 1 | $0 | $0 | $0 | $0 |
Brian Reynolds
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Danny Rojas
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
David Sands
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jeff Lambert
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mark Lucaj
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Omar Baptiste
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Philippa Karteron
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Ryan Walsh
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Shurn Anderson
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stephen Franklin
Exec. Com.
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stephen Levin
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Verdia Noel
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Victor Hunt
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Winston Crosswell
Vice President
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0