2021-11-10T08:36:16-08:00 2020-12-31 261726741 WATSONRICE LLP 5 PENN PLZ 15TH FL NEW YORK NY 10001 990 2020-01-01 452201993 Commonwise Education Inc COMM 9172422577 2431 Morris Avenue Bronx NY 10468 Wendoly Marte President 2021-11-10 true Wendoly Marte 999009999 Baruti Bediako CPA P00740658 2124477300 2 AAL1 IAL1 FAL1 2020 2022-09-23 18:48:47Z Wendoly Marte 2431 Morris Avenue Bronx NY 10468 1748080 false X www.commonwise.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. 10 10 16 47 0 605393 1548949 39600 196386 4205 2745 137243 0 786441 1748080 0 0 571775 768949 6400 44727 441533 325693 1013308 1101042 -226867 647038 517755 1189643 157218 182068 360537 1007575 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 688866 156786 In 2020, our organization made important progress towards the mission of advancing economic democracy. Our Innovation Factory held our first Encuentro, where Bronx stakeholders discussed the future of our local and regional economy. Bronx young people joined our InventTeam and created a prototype of a wearable electronic bracelet and app.The BronXchange convened & formalized our Bronx Anchor Council. We continued our work with Bronx minority-owned businesses through supporting businesses in integrated pest management, cleaning services, and other industries.The organizations Planning and Policy Lab served as a co-lead for the forming & coordination of the Bronx-wide Coalition: a group of nonprofits, labor unions, and faith-based groups advancing racial justice and economic democracy in the borough. Our Economic Democracy and Learning Center provided several training and workshops for Bronx community-based organizations and national organizations. We also completed a pilot with one Bronx high school. 688866 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 17 0 true 16 true false false false false false false false 0 false false false false false false false X 10 10 false false false false true true false true true false false true true true true true false false false false NY X Katiuska Lopez 7183040041 2431 Morris Avenue Bronx NY 10468 X Wendoly Marte President 0.25 0.00 X X 0 0 0 Sandra Lobo Vice President 0.25 0.00 X X 0 0 0 Katiuska Lopez Treasurer 0.25 0.00 X X 0 0 0 Allison Manuel Secretary 0.25 0.00 X X 0 0 0 Daniel White Member 0.25 0.00 X 0 0 0 Yorman Nunez Member 0.25 0.00 X 0 0 0 Danny Peralta Member 0.25 0.00 X 0 0 0 Kellie Terry Member 0.25 0.00 X 0 0 0 Nick Iuviene Member 0.25 0.00 X 0 0 0 Wanda Salaman Member/Edu Dir. 40.00 0.00 X 0 0 0 0 false false false 0 346923 1202026 1548949 Consulting Fees 611710 156786 156786 Rent 900099 39600 39600 196386 2745 2745 0 0 0 0 0 0 0 0 1748080 196386 2745 X 0 0 0 0 0 0 597172 380406 189808 26958 0 119091 79255 34273 5563 52686 33562 16746 2378 0 0 32969 32969 0 6400 6400 0 148420 121735 26685 0 48327 34528 12486 1313 0 0 36000 30600 3600 1800 1532 582 950 0 13355 385 12970 0 0 17364 17364 6014 5358 341 315 Bad Debt 19257 19257 Miscellaneous 2455 2455 0 1101042 688866 367449 44727 17983 30730 160970 385368 250891 713 43722 760195 0 0 0 0 21393 7205 81981 76549 22796 5432 0 0 0 0 0 517755 1189643 34557 23998 122661 25000 133070 157218 182068 X 288356 319924 72181 687651 360537 1007575 517755 1189643 647038 X false true X false false X 361879 1164060 218916 605393 1548949 3899197 0 0 361879 1164060 218916 605393 1548949 3899197 2409752 1489445 2679 3187 2667 4205 2745 15483 0 0 3914680 546958 0.38050 0.41300 X Support Schedule: Other Income Explanation 2013 Unusual grant $900,000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 81981 76549 5432 5432 X 1748080 1748080 1748080 1101042 1101042 1101042 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 2017. Form 990, Part VI, Line 11b: Form 990 Review Process A copy of the form 990 will be provided to the President, prior to submission to the internal revenue service. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 19: Other Organization Documents Publicly Available DISCLOSURE OF the GOVERNING documents CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.