2023-08-14T13:03:36-05:00 2022-09-30 133628255 CONDON O'MEARA MCGINTY & DONNELLY LLP ONE BATTERY PARK PLAZA 7TH FL NEW YORK NY 10004 990 2021-10-01 133048638 COMMUNITY RESOURCE EXCHANGE INC COMM 2128943394 228 PARK AVE S PMB 78695 NEW YORK NY 100031502 KATHARINE J LEONBERGER PRESIDENT & CEO 2128943394 2023-08-14 1 KATHARINE LEONBERGER 999009999 ALEXANDER LAZZARUOLO P01775353 2126617777 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z TILOMA JAYASINGHE 228 PARK AVE S PMB 78695 NEW YORK NY 100031502 4246760 0 X WWW.CRENYC.ORG X 1979 NY CRE HELPS NONPROFIT LEADERS BUILD SUSTAINABLE, HIGH-PERFORMING ORGANIZATIONS THAT IMPROVE PEOPLE'S LIVES AND DRIVE SOCIAL CHANGE. 14 14 35 14 0 0 2013234 2274677 1890485 1789978 84047 73548 9742 5572 3997508 4143775 0 0 0 0 3209568 3423262 0 0 45862 570341 535124 3779909 3958386 217599 185389 5552695 4627434 1364376 516271 4188319 4111163 X SEE SCHEDULE O. 0 0 3261856 1793750 SEE SCHEDULE O. 3261856 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 16 0 1 35 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 NY X X MELKIS ALVAREZ- BAEZ 2128943394 228 PARK AVE S PMB 78695 NEW YORK NY 100031502 AMER S AHMED CHAIR 4.00 X X 0 0 0 BENJAMIN F LORICK SECRETARY 2.00 X X 0 0 0 LAURIE LESSAGE TREASURER 2.00 X X 0 0 0 MARGARET BOOTH DEVELOPMENT & MARKETING CHAIR 2.00 X 0 0 0 SANDY FERNANDEZ DIRECTOR 2.00 X 0 0 0 MIRIAM TAI DIRECTOR 2.00 X 0 0 0 DIPTY JAIN FINANCE COMMITEE CHAIR 2.00 X 0 0 0 CHANTAL BONITTO DIRECTOR 2.00 X 0 0 0 GREGG S FISHER DIRECTOR 2.00 X 0 0 0 HALI LEE DIRECTOR 2.00 X 0 0 0 ROSA ALFONSO-MCGOLDRICK DIRECTOR 2.00 X 0 0 0 JERRY H MARCUS DIRECTOR 2.00 X 0 0 0 SARA SOLFANELLI DIRECTOR 2.00 X 0 0 0 ZOHRA ZORI DIRECTOR 2.00 X 0 0 0 TILOMA JAYASINGHE PRESIDENT AND CEO 40.00 X 217554 0 26466 JEAN R LOBELL CHIEF PROGRAM OFFICER 36.00 X 162396 0 20553 TRACEY K ALLARD DIR. OF CULTURE AND EQUITY 40.00 X 155525 0 20604 RANDALL K QUAN SENIOR CONSULTANT 40.00 X 137485 0 19333 UNIQUE A BRATHWAITE DIR. OF STRATEGIC DEVELOPMENT 40.00 X 137587 0 19670 JEFFERSON A BALLOW SENIOR CONSULTANT 40.00 X 134805 0 32955 945352 0 139581 12 0 1 0 0 X 1234479 1040198 25227 2274677 CONSULTING FEES 541610 1761612 1761612 DYCD - CONTRACTS 900099 28000 28000 DYCD - CONTRACTS 900099 366 366 1789978 40649 40649 1800 0 1800 1800 1800 135884 102985 32899 32899 32899 OTHER INCOME 900099 3772 3772 3772 4143775 1793750 0 75348 266863 219934 44097 2832 2577754 2092693 454858 30203 104381 94275 9737 369 271673 245371 25343 959 202591 182977 18899 715 29735 24190 5343 202 5392 5392 148370 122121 25291 958 46555 44430 997 1128 61124 49725 10983 416 17578 14626 2563 389 5700 4637 1024 39 18375 14947 3302 126 SUBSCRIPTIONS & MEMBERS 78141 63933 8352 5856 SUBCONTRACTORS & CLIENT 51700 51700 STAFF DEVELOPMENT 34227 30175 3904 148 BAD DEBT 30000 30000 8227 6122 583 1522 3958386 3261856 650668 45862 281 281 3856246 3143574 62627 174842 732801 536333 110367 126906 382312 378386 8227 3926 782146 641572 5552695 4627434 365676 298590 411458 217681 587242 1364376 516271 X 3660841 3586379 527478 524784 4188319 4111163 5552695 4627434 185389 -262545 0 X 0 1 X 1 0 X 2654990 1831272 1933248 2013234 2274677 10707421 2654990 1831272 1933248 2013234 2274677 10707421 848882 9858539 138036 159216 108054 41502 42449 489257 16201 3079 3772 23052 11219730 9811487 0.87870 0.85810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2028832 890292 892986 2026138 2108244 674652 754064 2028832 2848919 850500 1591175 2108244 2936621 1040275 1127977 2848919 2169766 1850239 1083384 2936621 0.74099 0.11046 0.14855 0 0 201615 201615 0 180697 176771 3926 3926 3883917 -262545 8079 -254466 4138383 5392 5392 4143775 3961073 8079 8079 3952994 5392 5392 3958386 PART V, LINE 4: UNRESTRICTED MONIES OR ASSETS CONTRIBUTED TO CRE WHICH ARE DESIGNATED BY THE BOARD OF DIRECTORS TO PROVIDE LONG-TERM FINANCIAL SUPPORT FOR USES INCLUDING INVESTMENTS AND EMERGENCIES. USE OF THESE FUNDS REQUIRES BOARD APPROVAL. NET ASSETS WITH DONOR RESTRICTIONS OF CRE WHICH HAVE BEEN LIMITED BY DONOR-IMPOSED STIPULATIONS THAT EITHER EXPIRE WITH THE PASSAGE OF TIME OR CAN BE FULFILLED AND REMOVED BY THE ACTIONS OF CRE PURSUANT TO THOSE STIPULATIONS. X X X 0 0 0 0 0 0 0 0 0 TILOMA JAYASINGHE PRESIDENT AND CEO 217554 0 0 0 0 0 0 0 26466 0 244020 0 0 0 JEAN R LOBELL CHIEF PROGRAM OFFICER 162396 0 0 0 0 0 8058 0 12495 0 182949 0 0 0 TRACEY K ALLARD DIR. OF CULTURE AND EQUITY 155525 0 0 0 0 0 7960 0 12644 0 176129 0 0 0 JEFFERSON A BALLOW SENIOR CONSULTANT 124805 0 10000 0 0 0 6932 0 26023 0 167760 0 0 0 UNIQUE A BRATHWAITE DIR. OF STRATEGIC DEVELOPMENT 137587 0 0 0 0 0 6916 0 12754 0 157257 0 0 0 RANDALL K QUAN SENIOR CONSULTANT 137485 0 0 0 0 0 6867 0 12466 0 156818 0 0 0 X 1 25227 0 1 0 PART III - LINE 1 COMMUNITY RESOURCE EXCHANGE (CRE) IS A NONPROFIT CONSULTING FIRM THAT PROVIDES THE STRATEGIES AND TOOLS NEEDED TO BUILD SUSTAINABLE, HIGH-PERFORMING ORGANIZATIONS THAT IMPROVE PEOPLE'S LIVES AND DRIVE SOCIAL CHANGE. WE SPECIALIZE IN SERVING ORGANIZATIONS THAT HAVE DEEP ROOTS IN URBAN COMMUNITIES, PARTICULARLY THOSE GROUPS WORKING TO FIGHT POVERTY, PROMOTE EQUITY, AND EXPAND OPPORTUNITY. CRE WAS FOUNDED IN 1979 WITH A VISION TO HELP COMMUNITY LEADERS BUILD IMPACTFUL AND LONG-STANDING ORGANIZATIONS TO ADDRESS THE NEEDS OF PEOPLE LIVING IN POVERTY. SINCE OUR BEGINNING, WE HAVE BEEN PROVIDING ALL ASPECTS OF CAPACITY BUILDING SUPPORT TO NYC BASED NONPROFITS INCLUDING LEADERSHIP DEVELOPMENT, STRATEGIC PLANNING, BOARD DEVELOPMENT, AND HELPING LEADERS EFFECTIVELY MANAGE CHANGE AND GROWTH. WE HAVE DEVELOPED A KEY SET OF CORE COMPETENCIES: CONSULTING, PEER BASED LEARNING, TRAINING, AND COACHING. CENTRAL TO OUR APPROACH IS OUR COMMITMENT TO ADVANCE RACIAL EQUITY AND INTEGRATING A DIVERSITY, EQUITY, AND INCLUSION (DEI) LENS WITHIN ALL OF OUR OFFERINGS. WE PROVIDE CUSTOMIZED SUPPORT AND TOOLS NEEDED TO ENSURE EFFECTIVE LEADERSHIP, HIGH-PERFORMING STAFF, FINANCIAL SUSTAINABILITY, AND IMPACTFUL PROGRAMS; TOGETHER THESE CRUCIAL ELEMENTS ALLOW ORGANIZATIONS TO SERVE THEIR COMMUNITIES AS EFFECTIVELY AS POSSIBLE. CRE HAS FOUR MAIN SERVICE LINES: (I) STRATEGY AND PLANNING, WHICH ALIGNS STAKEHOLDERS, SETS CLEAR GOALS FOR SUCCESS, AND SUPPORTS ORGANIZATIONS IN MAKING EFFECTIVE USE OF LIMITED RESOURCES TO ENSURE SUSTAINABILITY WHILE MAXIMIZING AND MEASURING IMPACT; (II) ORGANIZATIONAL MANAGEMENT, WHERE CUSTOMIZED ASSESSMENT TOOLS AND METHODS ARE USED TO HELP ORGANIZATIONS DETERMINE WHAT CHANGES THEY SHOULD IMPLEMENT; (III) TALENT AND INNOVATION, WHICH FOCUSES ON DEVELOPING PRACTICES, PROCESSES, AND SYSTEMS THAT ATTRACT, DEVELOP, AND RETAIN TALENT, BUT GOES DEEPER TO ADDRESS TEAM EFFECTIVENESS, CULTURE CHANGE, AND EXECUTIVE SEARCH; AND (IV) LEADERSHIP DEVELOPMENT, WHICH STRENGTHENS THE LEADERSHIP CAPABILITIES OF ESTABLISHED AND EMERGING NONPROFIT LEADERS THROUGH PEER-BASED LEARNING, CUSTOMIZED TRAINING, AND EXECUTIVE COACHING. OUR PROGRAMS ARE DELIVERED THROUGH ONE-TO-ONE CONSULTING, PEER-BASED LEARNING, TRAINING, COACHING, AND ASSESSMENT. PART III - LINE 4A STARTED OVER 40 YEARS AGO, OUR WORK TODAY SUPPORTS AND STRENGTHENS OVER 500 SOCIAL SECTOR ORGANIZATIONS ANNUALLY. THROUGH THIS WORK, WE IMPACT THE LIVES OF OVER 3.5 MILLION PEOPLE EACH YEAR WHO ARE AFFECTED BY PRESSING SOCIAL ISSUES SUCH AS, EDUCATION, HOUSING, WORKFORCE DEVELOPMENT, AND COMMUNITY REVITALIZATION. CRE'S FOUR SERVICE LINES STRATEGY AND PLANNING, ORGANIZATIONAL MANAGEMENT, TALENT AND INNOVATION, AND LEADERSHIP DEVELOPMENT ARE DELIVERED IN THE FOLLOWING MODALITIES: ONE-TO-ONE CONSULTING, PEER-BASED LEARNING, TRAINING, COACHING, AND ASSESSMENT. STRATEGY AND PLANNING CRE APPROACHES PLANNING AS A PROCESS IN WHICH THE BEST DECISIONS ARE MADE NOW TO THEN GUIDE THE ORGANIZATION IN THE FUTURE. WE PARTNER WITH OUR CLIENTS TO ENSURE THEY ARE INFORMED BY MEANINGFUL DATA INCLUDING INPUT FROM BOTH THEIR CONSTITUENTS AND STAKEHOLDERS THAT LEADS TO IMPLEMENTABLE DECISIONS. PLANNING ALIGNS STAKEHOLDERS, ESTABLISHES CLEAR GOALS FOR SUCCESS, AND SUPPORTS ORGANIZATIONS IN SUSTAINING THE MOST EFFECTIVE USE OF LIMITED RESOURCES WHILE MAXIMIZING MEASURABLE IMPACT. THE END-GOAL OF ALL PLANNING ENGAGEMENTS IS TO ENABLE NONPROFITS TO BETTER ACHIEVE THEIR MISSIONS IN A FINANCIALLY SUSTAINABLE WAY. STRATEGY AND PLANNING OFFERINGS INCLUDE: THEORY OF CHANGE, STRATEGIC PLANNING, BUSINESS PLANNING, PROGRAM PLANNING, OUTCOMES MEASUREMENT, COMMUNITY COLLABORATION, AND STRATEGIC ALLIANCES. ORGANIZATIONAL MANAGEMENT CRE UNDERSTANDS THAT NONPROFITS OPERATE IN A COMPLEX ENVIRONMENT AND WORKS WITH THEM TO PRIORITIZE IMPACT AND SUSTAINABILITY AS THEY GROW. WE USE CUSTOMIZED ASSESSMENT TOOLS AND METHODS TO HELP ORGANIZATIONS DETERMINE WHAT CHANGES THEY SHOULD IMPLEMENT, WHEN, AND WHY. WE PARTNER WITH EACH NONPROFIT CLIENT TO ACHIEVE THESE RESULTS, PAYING CLOSE ATTENTION TO WHAT IS REQUIRED TO ENVISION AND MANAGE CHANGE. WHETHER IT IS BOARD DEVELOPMENT, HR MANAGEMENT, OR RISK ASSESSMENT, OUR TEAM'S EXTENSIVE KNOWLEDGE PAIRED WITH OUR PRACTICAL APPROACH ALLOWS NONPROFITS TO ACHIEVE BETTER RESULTS. ORGANIZATIONAL MANAGEMENT OFFERINGS INCLUDE: BOARD DEVELOPMENT, ORGANIZATIONAL ASSESSMENT, RISK MANAGEMENT, CHANGE MANAGEMENT, FINANCIAL MANAGEMENT, HUMAN RESOURCE MANAGEMENT, AND IMPLEMENTATION SUPPORT. TALENT AND INNOVATION AT CRE, WE BELIEVE THAT HAVING THE RIGHT PEOPLE IN THE RIGHT ROLES IS ESSENTIAL TO AN ORGANIZATION'S GROWTH AND SUCCESS. OUR TALENT MANAGEMENT AND INNOVATION PRACTICE NOT ONLY FOCUSES ON DEVELOPING PRACTICES, PROCESSES, AND SYSTEMS THAT ATTRACT, DEVELOP, AND RETAIN TALENT, BUT ALSO ADDRESSES TEAM EFFECTIVENESS, CULTURE CHANGE, AND EXECUTIVE SEARCH. WE ALSO CHALLENGE OURSELVES AND OUR CLIENTS TO USE APPROACHES THAT FOSTER INNOVATION BY PUTTING THE RECIPIENTS OF A NONPROFIT'S SERVICES AT THE CENTER OF ORGANIZATIONAL PLANNING, SO THAT TOGETHER WE DEVELOP BOLD IDEAS THAT BETTER SERVE OUR COMMUNITIES. THESE OFFERINGS INCLUDE: INNOVATION; DIVERSITY, EQUITY, AND INCLUSION; CULTURE CHANGE; TEAM EFFECTIVENESS; EXECUTIVE SEARCH; AND TALENT MANAGEMENT. LEADERSHIP DEVELOPMENT BUILDING EFFECTIVE LEADERS IS AT THE HEART OF WHAT WE DO AT CRE. WE STRENGTHEN THE LEADERSHIP CAPABILITIES OF ESTABLISHED AND EMERGING NONPROFIT LEADERS THROUGH PEER-BASED LEARNING, CUSTOMIZED TRAINING, AND EXECUTIVE COACHING. BECAUSE MOST PEOPLE LEARN BEST BY DOING, WE USE ADULT LEARNING THEORIES IN OUR LEADERSHIP DEVELOPMENT TRAININGS AND COACHING ACTIVITIES. FORM 990, PART VI, SECTION A, LINE 8B WHILE NOTES ARE TAKEN DURING COMMITTEE MEETINGS AND RECOMMENDATIONS OF THE COMMITTEES ARE NOTED IN BOARD MEETING MINUTES, SEPARATE FORMAL MINUTES OF COMMITTEE MEETINGS ARE NOT PREPARED. FORM 990, PART VI, SECTION B, LINE 11B THE PROCESS USED BY COMMUNITY RESOURCE EXCHANGE, INC. TO REVIEW FORM 990 BEFORE FILING IS: 1. EXTERNAL AUDITING FIRM PREPARES CRE'S 990; 2. 990 IS REVIEWED BY MANAGEMENT AND AN ELECTRONIC DRAFT IS FORWARDED TO THE FINANCE/AUDIT COMMITTEE OF THE BOARD OF DIRECTORS FOR REVIEW AND COMMENTS; 3. STAFF AND FINANCE/AUDIT COMMITTEE COMMENTS ARE DISCUSSED WITH AUDITORS AND A FINAL DRAFT IS CREATED; 4. A FINAL DRAFT IS FORWARDED TO THE BOARD OF DIRECTORS WHICH IS GIVEN 3-5 BUSINESS DAYS TO REVIEW. 5. COMMENTS FROM THE BOARD OF DIRECTORS ARE FORWARDED TO AND ADDRESSED BY MANAGEMENT. 6. FOLLOWING BOARD APPROVAL, MANAGEMENT APPROVES 990 FOR FILING AND 990 IS FILED WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C CRE REQUIRES ITS DIRECTORS, OFFICERS AND KEY EMPLOYEES TO DISCLOSE TO THE BOARD CHAIR OR HIS DESIGNEE PRIOR TO THE OPENING OF ANY NEGOTIATIONS OR DISCUSSIONS CONCERNING A TRANSACTION. IN ADDITION TO THIS CONTINUING OBLIGATION, INTERESTED PERSONS COVERED BY THE POLICY MUST AGAIN DISCLOSE POTENTIAL CONFLICTS FROM THE PREVIOUS YEAR AT THE END OF EACH FISCAL YEAR. ALL INTERESTED PERSONS COVERED BY THE POLICY MUST PREPARE A BRIEF LETTER DESCRIBING THE TRANSACTION, THEIR INTEREST IN IT, AND WHY THE TRANSACTION IS IN THE BEST INTEREST OF CRE. THE TRANSACTION IS THEN REVIEWED CAREFULLY TO ENSURE THAT IT SHOULD BE ENTERED INTO. IF A CONFLICT OF INTEREST EXISTS, THE INTERESTED PARTY IS EXCLUDED FROM THE BOARD DISCUSSION AND APPROVAL OF SUCH TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS USED BY CRE FOR DETERMINING AND DOCUMENTING COMPENSATION FOR THE PRESIDENT & CEO IS: 1. CRE HUMAN RESOURCES (HR) STAFF COMPILES A SURVEY ON COMPENSATION PAID BY SIMILARLY SITUATED ORGANIZATIONS FOR COMPARABLE POSITIONS AND PROVIDES THE DATA TO THE CRE HR BOARD HUMAN RESOURCES COMMITTEE; 2. THE BOARD HUMAN RESOURCES COMMITTEE REVIEWS THE COMPARABILITY DATA; 3. THE HUMAN RESOURCES COMMITTEE COMPARES THE PROPOSED SALARIES FOR THE EMPLOYEE WITH THE COMPARABLE DATA, DETERMINES THE REASONABLENESS OF THE PROPOSED COMPENSATION PACKAGE. IF THE COMMITTEE DETERMINED THE REASONABLE COMPENSATION IS HIGHER OR LOWER THAN THE RANGE OF COMPARABLE DATA OBTAINED, THEY ARTICULATE THE BASIS FOR DETERMINATION; AND 4. THE HUMAN RESOURCES COMMITTEE TAKES THE CEO COMPENSATION RECOMMENDATION TO THE FULL BOARD FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 CRE MAKES ITS AUDITED FINANCIAL STATEMENTS AND 990 AVAILABLE TO THE PUBLIC BY POSTING THEM ON ITS WEBSITE. IN ADDITION, CRE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST AT 228 PARK AVE S PMB 78695 NEW YORK, NY 10003-1502 OR BY CALLING (212) 894-3394. PART VIII - LINE 1E IN FEBRUARY 2021, CRE RECEIVED A SECOND LOAN TOTALING $587,242 UNDER THE PAYCHECK PROTECTION PROGRAM, A BUSINESS LOAN PROGRAM ESTABLISHED UNDER THE CARES ACT. IN NOVEMBER 2021, THE SBA AUTHORIZED THIS LOAN TO BE FORGIVEN AND CONSIDERED PAID IN FULL. CRE HAS RECORDED THE LOAN AS PART OF GOVERNMENT GRANTS AND CONTRACT REVENUE IN 2022.