Organizations Filed Purposes:
The Business Center for New Americans (BCNA) creates a pathway to self-sufficiency for immigrant and refugee entrepreneurs in New York City by providing access to affordable credit, empowering with financial education, and offering training in best business practices and technology.
Provide microloans and training to help low and moderate-income immigrants, refugees and women in New York City start and run small businesses, build savings and assets, and achieve financial stability.
BCNAs microloan program awarded 338 small business loans with a value of $4,641,450 to immigrant, refugee, and women micro-entrepreneurs operating businesses in all five boroughs of New York City. BCNA worked with clients from 40 countries in FY 2019. 95% of all loans went to minority entrepreneurs and 62% were granted to women. BCNA helped entrepreneurs start 34 new businesses and expand and strengthen 658 businesses. As a result, 135 full-time and 40 part-time jobs were created and 974 jobs were retained, supporting the economic development of communities throughout the city.
BCNAs Individual Development Account program provides financial literacy training and matching grants to help assist refugees with learning personal financial management skills and growing their savings. Each refugee can receive grants of up to $2,000 for an individual or $4,000 for a family. Grants must be used to invest in a small business, towards the purchase of a first home, or to cover costs of further education or vocational training. In FY 2019, a total of 113 refugees participated in the IDA Program and 64 refugees and asylees reached their savings goals, leveraging a total of $313,901 in savings, match grants, and microloans.
BCNA provided 5,577 hours of small group training and individualized assistance to 821 clients in FY 2019. A total of 34 workshops were offered on small business management, financial literacy, social media marketing, and homeownership, with a total of 501 participants. BCNA staff assisted 692 businesses through business plan development, credit review and repair, cash flow analysis, and preparing business loan applications.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Yanki Tshering | Executive Dir. | 35 | $172,356 |
| Kwame Marfo | Director | 1 | $0 |
| Carolina Simon | Director | 1 | $0 |
| Michelle Danso | Director | 1 | $0 |
| Peter Brest | Director | 1 | $0 |
| Jay Taparia Cfa | Director | 1 | $0 |
| Colleen Galvin | Secretary | 1 | $0 |
| Stan Kosyakovskiy Cpa | Treasurer | 1 | $0 |
| Larry Rubenstein | Chair | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202032259349301028_public.xml