2024-10-09T14:45:50-07:00 2023-12-31 261726741 WatsonRice LLP 31 West 34th Street 7006 New York NY 10001 990 2023-01-01 452201993 Commonwise Education Inc COMM 7183040041 2431 Morris Avenue Bronx NY 10468 Nick Iuviene Treasurer 2024-10-09 true true Baruti Bediako CPA P00740658 2124477300 2023 2024-10-15 13:58:12Z Sandra Lobo 2431 Morris Avenue Bronx NY 10468 653023 false X www.bcdi.nyc X 2011 VT The Organization coordinates the people, businesses and institutions of the Bronx to develop shared wealth and ownership and supports low income people of color in the decision making process at every step. This network of stakeholders,is known as the Bronx Cooperative Development Initiative (BCDI). Based on a framework of economic democracy, BCDI leverages existing Bronx assets to address economic, social, and environmental challenges within the borough, and supports collective ownership models in order to distribute wealth and decision-making equitably and broadly among Bronx residents. 9 9 11 47 0 1155550 600535 47861 41500 5379 10988 0 1208790 653023 0 0 738649 689963 3375 5270 579468 230805 1318117 924143 -109327 -271120 804695 529521 37564 33510 767131 496011 COMMONWISE EDUCATION, INC WILL PROVIDE ON-LINE EDUCATION AND TRAINING IN THE AREAS OF ENTREPRENEURSHIP,MANAGEMENT, SUSTAINABILITY, ORGANIZATIONAL DEVELOPMENT AND INNOVATION TO SOCIAL ENTERPRISE AND COMMUNITY DEVELOPMENT BUSINESSES, EMPLOYEE AND COOPERATIVELY OWNED BUSINESSES. THESE SERVICES ARE DESIGNED TO INCREASE THE SUCCESS AND VIABILITY OF THESE BUSINESSES. false false 517645 41500 In 2023 BCDI supported the development of Bronxwide community planning and business infrastructure for economic democracy. This took the shape of co-leading a Bronxwide community planning coalition through our Policy and Planning team, convening and supporting Bronx anchor purchasers and small businesses through the BronXchange, and educating community leaders on models and projects for deepening shared ownership and shared wealth in our communities through the Economic Democracy Learning Center. A signature piece of BCDIs work is co-leading a coalition of 12 community, faith, and labor organizations for a Bronxwide Plan: a long-term Bronxwide economic development plan grounded in racial justice and economic democracy. In 2023 BCDI continued this multi-year effort by synthesizing 20 community-led economic development projects and concept ideas through an online and offline public engagement campaign. We then convened community leaders from across the borough to develop a rubric to assess the viability of projects to advance further. This led to the development of the Sustainable Economy Partnership, scoped as a multi-million dollar borough-wide initiative to advance environmental resilience, small business, and workforce development aligned to our values.In 2023 the BronXchange continued to provide technical assistance to all of our small business clients. Cooperative succession planning became a new addition to our work. BronXchange partnered with the Women's Housing and Economic Development Corporation (WHEDco) in hosting in-person events focused on connecting Bronx businesses in their catchment area with institutional purchasing opportunities. The events and procurement panels centered small Bronx businesses. We shared lessons learned over a decade in contracting with local businesses.For our learning and education work, we continued to engage educators on pathways to educating for economic democracy from K-12 through higher education. We published a report and article in Nonprofit Quarterly reflecting on the 2022 Economic Democracy Schools Fellowship and continued to support educators to develop curriculum aligned to these principles. For postsecondary educators, teh Teaching Economic Democracy webinars we hosted invited panelists to share ways to incorporate employee ownership, cooperatives, and economic democracy into a class and discipline. Panelists also share their latest resources, materials, and concepts for subjects ranging from business, sociology, and public policy, to urban, labor, and community development. 517645 true true false false false false false false false false true false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 6 0 true 11 true false false false false false false false 0 false false false false false false false X 9 9 false false false false true true false true true false false true true true true true false false false false NY X Nick Iuviene 7183040041 2431 Morris Avenue Bronx NY 10468 Michael Partis Executive Dir. 40.00 0.00 X 46142 0 5948 Sandra Lobo President 0.00 0.00 X X 0 0 0 Dariella Rodriguez Vice President 0.00 0.00 X X 0 0 0 Nick Iuviene Treasurer 0.00 0.00 X X 0 0 0 Danny Peralta Member 0.00 0.00 X 0 0 0 Daniel White Member 0.00 0.00 X 0 0 0 Kellie Terry Member 0.00 0.00 X 0 0 0 Wanda Salaman Member 0.00 0.00 X 0 0 0 Wendoly Marte Member 0.00 0.00 X 0 0 0 Yorman Nunez Member 0.00 0.00 X 0 0 0 46142 5948 0 false false false 0 600535 600535 Consulting Fees 611710 41500 41500 41500 10988 10988 0 0 0 0 0 0 0 0 653023 41500 10988 0 0 0 0 52090 52090 0 483684 348709 134975 0 107644 82489 25155 46545 30634 15911 0 25 25 38288 38288 0 3375 3375 0 53924 1310 52614 0 65894 21435 44364 95 0 0 36000 30600 3600 1800 1910 1253 657 0 1215 1215 0 0 0 7852 7852 Credit loss expense 25000 25000 Other Expenses 697 697 0 924143 517645 401228 5270 11953 0 573194 285748 210645 235598 0 0 0 0 0 8903 8175 81981 81981 0 0 0 0 0 0 804695 529521 30087 33510 7477 37564 33510 X 756535 496011 10596 767131 496011 804695 529521 -271120 X false true X false false X 605393 1548949 889863 1155550 600535 4800290 0 0 605393 1548949 889863 1155550 600535 4800290 1219910 3580380 4205 2745 2272 5379 10988 25589 0 0 4825879 502810 0.74190 0.63180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 81981 81981 X 653023 653023 653023 924143 924143 924143 Part X : FIN48 Footnote Auditing standards generally accepted in the United States of America require management to evaluate the tax position taken or expected to be taken by the Organization in a tax return and to recognize a tax liability or an asset if the Organization has taken an uncertain position that more-likely-than-not would be sustained upon examination by the Internal Revenue Service. The Organization does not believe its financial statements include any uncertain tax positions. Management believes it is no longer subject to income tax examinations for tax returns filed prior to 2018. Form 990, Part VI, Section B, Line 11b A copy of the form 990 will be provided to the President, prior to submission to the internal revenue service. Form 990, Part VI, Section B, Line 12c Conflict of interest policy was adopted at board meeting by unanimous resolution dated May 24, 2011. All board members are required to complete an annual disclosure of any conflicts to determine whether a conflict of interest exists. After disclosure of the financial interest, all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The procedures of addressing the conflict of interest is as follows:(1) An interest person shall leave the meeting during the discussion of the transaction or arrangement involving possible conflict of interest. Any interested person shall not attempt to influence the board of directors regarding the conflict matter. (2) The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. (3) After exercising due diligence, the governing board or committee shall determine whether the organization can obtain, with reasonable efforts, a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. (4) If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote whether the transaction or arrangement is in the organization's best interest, and whether it is fair and reasonable and in conformity with the above determination, then it shall make its decision as to whether to enter into the transaction or arrangement. Form 990, Part VI, Section C, Line 19 DISCLOSURE OF the GOVERNING documents CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.