2020-11-12T15:13:04-08:00 2019-12-31 261726741 WATSONRICE LLP 5 PENN PLZ 15TH FL NEW YORK NY 10001 990 2019-01-01 452201993 Commonwise Education Inc COMM 9172422577 2431 Morris Avenue Bronx NY 10468 Wendoly Marte President 2020-11-12 true Baruti Bediako CPA P00740658 2124477300 2019 2021-01-29 14:40:06Z Wendoly Marte 2431 Morris Avenue Bronx NY 10468 786441 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 7 17 47 0 218916 605393 39600 39600 2667 4205 48129 137243 309312 786441 0 0 397532 571775 0 52932 406080 441533 803612 1013308 -494300 -226867 637164 517755 49760 157218 587404 360537 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 756666 In 2019, we were able to achieve substantial impact across 4 of our projects. -Through our BronXchange project, we built deeper partnerships with and increased our impact with small businesses. In some cases, we're able to double their workforce. -Through our Economic Democracy Learning Center project, we build the leadership of Bronx Residents by training youth from various community organizations. -Through our Bronx Innovation Factory Project, we launched a community innovation afterschool program in digital fabrication, electronics, prototyping and economic democracy. -Lastly, through our Planning and Policy Lab project, we redefined how organizations on the ground are addressing issues of redlining, gentrification, and displacement in the Bronx through deep coordination and strategic planning. 756666 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 37 0 true 17 true false false false false false false false 0 false false false false false false false X 10 7 false false false false true true false true true false false true true true true true false false false false NY X Nick Iuviene 2126478713 2431 Morris Avenue Bronx NY 10468 Wanda Salaman Member/Edu Dir. 40.00 0.00 X 31010 0 0 Nick Iuviene Member 0.25 0.00 X 15400 0 0 Allison Manuel Secretary 0.25 0.00 X X 3443 0 0 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 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 49853 0 false false false 0 334154 271239 605393 Rent 900099 39600 39600 39600 4205 4205 0 0 0 0 0 0 0 Consulting Fees 900099 136666 136666 Other Income 900099 577 577 137243 786441 176843 4205 X 0 0 0 0 49853 49853 0 433304 338182 54918 40204 0 51656 40800 6900 3956 36962 29685 4201 3076 0 0 59404 59404 0 0 0 187691 138147 49544 4007 110 3897 97178 85631 8868 2679 0 0 36000 30600 3600 1800 12724 8370 4347 7 0 16236 14724 1512 0 0 21489 14851 5764 874 6677 5675 668 334 Miscellaneous 127 38 87 2 0 1013308 756666 203710 52932 29801 17983 54831 160970 483322 250891 18783 43722 0 0 0 0 12430 21393 81981 59185 37997 22796 0 0 0 0 0 637164 517755 44456 34557 5304 122661 49760 157218 X 253901 288356 333503 72181 587404 360537 637164 517755 -226867 X false true X false false X 222136 361879 1164060 218916 605393 2572384 0 0 222136 361879 1164060 218916 605393 2572384 1504608 1067776 52 2679 3187 2667 4205 12790 0 0 2585174 350572 0.41300 0.36300 X Support Schedule: Other Income Explanation 2013 Unusual grant $900,000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 81981 59185 22796 22796 X 786441 786441 786441 1013308 1013308 1013308 Part X : FIN48 Footnote Auditing standards generally accepted in the United States of America requires 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 2016. 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.