NonprofitsRenaissance Economic Development Corporation

Community Improvement & Capacity Building

Renaissance Economic Development Corporation

NEW YORK, NY

Total revenue

$6.0M

Total expenses

$5.6M

Net assets

$19.0M

Grants received

$3.3M

31 grants

EIN

133946529

Tax year

2024

Mission

Renaissance economic development corporation provides direct financing and technical assistance services throughout new york city. Renaissance focuses on low-income neighborhoods where the barriers of language, culture and conventional loan underwriting have stymied the growth of small businesses. Underpinning all of renaissance's lending activity is a commitment to increase business opportunities for low-income entrepreneurs.

Programs

1 program

Technical assistance & education - redc provides targeted technical assistance to low income entrepreneurs & small business owners, helping them to overcome traditional impediments to business growth and success. Redc specializes in servicing businesses in its target markets that banks and government programs cannot serve, suchas 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.

Expenses: $1.9M

Financials

FY 2024

Revenue

Contributions & grants$4.8M
Program service revenue$1.1M
Investment income$139K
Other revenue
Total revenue$6.0M

Expenses

Grants paid
Salaries & benefits$3.2M
Fundraising$394K
Other expenses$2.4M
Total expenses$5.6M
Total assets$33.7M
Net assets$19.0M

People

16 listed

NameRoleCompensation

JESSIE LEE

MANAGING DIRECTOR

Board

$203K

35 hrs/wk

MARY LIU

DEPUTY MANAGING DIRECTOR

Board

$142K

40 hrs/wk

MICHAEL LEE

BOARD MEMBER

Board

1 hrs/wk

PEGGY CHAN

TREASURER (OUTGOING)

Board

0.3 hrs/wk

RAYMOND LOU

SECRETARY (OUTGOING)

Board

1 hrs/wk

THOMAS YU

PRESIDENT/EXECUTIVE DIRECTOR

Board

1 hrs/wk

CONNIE LEE

BOARD MEMBER

Board

1 hrs/wk

TONY LIN

BOARD MEMBER

Board

1 hrs/wk

TURNEY SINGH BABA

TREASURER

Board

1 hrs/wk

JOY SUZANNE GRANADO

CHIEF ACCOUNTING OFFICER (OUTGOING)

Board

1 hrs/wk

TIMOTHY WONG

BOARD MEMBER

Board

1 hrs/wk

GIGI LAU GILSINAN

BOARD MEMBER

Board

1 hrs/wk

KYLE FOLEY

BOARD MEMBER

Board

0.3 hrs/wk

MICHAEL FONG

BOARD MEMBER

Board

1 hrs/wk

JANNIE LAI

DIRECTOR OF PROGRAMS

Staff

$116K

40 hrs/wk

SOCORRO MARIA CORONA

PLEASE PROVIDE TITTLE

Staff

$100K

40 hrs/wk

Grants received

Showing 31 of 31

FromAmountPurposeYear
$150K
IN SUPPORT OF NEIGHBORHOOD REVITALIZATION
2024
$150K
Expand Small Business Support
2024
$133K
GOLDMAN SACHS AND NEIGHBORWORKS PASS THROUGH GRANT TO REDC
2024
$100K
GENERAL SUPPORT
2024
$150K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2023
$135K
ASSISTANCE TO SMALL BUSINESS
2023
$65K
Expansion of small business counseling in NJ and LI
2023
$35K
Neighborhood Strategies
2023
$19K
OPERATING SUPPORT
2023
$10K
General operating support
2023
$150K
ADVISED - TO HELP RENAISSANCE ECONOMIC DEVELOPMENT CORP (REDC) TO SUPPORT AND HELP TRANSFORM LOW-TO-MODERATE INCOME AND IMMIGRANT COMMUNITIES IN NEW YORK CITY BY PROVIDING LOW-INTEREST SMALL BUSINESS LOANS. TRAINING AND COUNSELING SERVICES IN NYC.
2022
$103K
GENERAL SUPPORT
2022
$100K
OFN CDFI TECH GRANT PROGRAM SUPPORTED BY GOOGLE.ORG
2022
$92K
Small Business Network
2022
$45K
ASSISTANCE TO SMALL BUSINESS
2022
$45K
ASSISTANCE TO SMALL BUSINESS
2022
$19K
OPERATING SUPPORT
2022
$518
GENERAL OPERATING SUPPORT
2022
$518
GENERAL OPERATING SUPPORT
2022
$625K
PROVIDES DIRECT FINANCING AND TECHNICAL ASSISTANCE SERVICES THROUGHT NEW YORK CITY, FOCUSES ON LOW-INCOME, IMMIGRANT NEIGHBORHOODS WHERE THE BARRIERS OF LANGUAGE, CULTURE AND CONVENTIONAL LOAN UNDERWRITING HAVE STYMIED THE GROWTH OF SMALL BUSINESS
2021
$100K
GENERAL SUPPORT
2021
$100K
GENERAL SUPPORT
2021
$47K
AAPI Community Resilience Fund; Small Business Network
2021
$43K
Business Financial Assistance Program
2021
$400K
TO SUPPORT TECHNOLOGY, STAFF, AND OTHER STRATEGIES FOR INCREASING CAPACITY TO TRACK DATA AND DELIVER INNOVATIVE PRODUCTS
2020
$115K
GENERAL
2020
$80K
Counseling and financial assistance
2020
$57K
AAPI Community Resilience Fund; Small Business Network; Housing Counseling
2020
$150K
For grant recipient's exempt purposes
2019
$33K
Asset Building and Housing Counseling and Small Business
2019

Funded by

$3.3M from 15 funders · 31 grants · 2019–2024

The Alphadyne Foundation

$625K · 1 grant · 2021

The Blackbaud Giving Fund

$403K · 4 grants · 2021–2024

The Chicago Community Trust

$400K · 1 grant · 2020

Asian Americans For Equality Inc

$358K · 4 grants · 2022–2024

Jpmorgan Chase Foundation

$300K · 2 grants · 2023–2024

Korean-American Community Foundation Inc

$295K · 3 grants · 2020–2024

National Coalition for Asian Pacific

$293K · 6 grants · 2019–2024

Details

EIN133946529
NTEE codeS30
Subsection03
Ruling date1998-03
Formed1997
Employees39
Volunteers8
RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION — Mission, Financials & Grants Received | Grantivo