2017-11-15T13:54:58-08:00 2016-12-31 BCA WATSON RICE LLP 5 PENN PLAZA 15TH FL NEW YORK NY 100011810 990 2016-01-01 452201993 Commonwise Education Inc COMM 9172422577 2431 Morris Avenue Bronx NY 10468 Wendoly Marte President 2017-11-15 true Baruti Bediako CPA P00740658 2124477300 2016 2017-02-10 21:41:12Z Wendoly Marte PO Box 776 New York NY 10108 408558 false 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. 12 5 5 5 0 268500 361879 0 52 2679 44000 268552 408558 0 0 144503 287143 0 60919 214439 312361 358942 599504 -90390 -190946 748554 493406 28874 61678 719680 431728 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 398780 WE HAVE BUILT NETWORKS OF DIVERSE PARTNERS, INCLUDING KEY ANCHOR INSTITIONS AND COMMUNITY ORGANIZATIONS THAT FOCUS ON BUILDING SHARED WEALTH IN THE BRONX. ADDITIONALY, WE HAVE LAUNCHED PILOT PROGRAMS IN THE PROCUREMENT AND COMMUNITY HEALTH SECTOR; AND DEVELOPED AND ADVANCED AN ECONOMIC DEMOCRACY TRAINING SERIES WITH GRASSROOTS RESIDENTS IN THE BRONX. 398780 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 false false false false true 23 0 true 5 true false false false false false false false false 0 false false false false false false false false false false X 12 5 false false false false true true false true true false false true true true true true false false false false NY X Jane Aldea 2126478713 1350 Broadway Suite 1710 New York NY 10018 Wendoly Marte President 2.00 0.00 X X 0 0 0 Sandra Lobo Vice President 1.00 0.00 X X 0 0 0 Angela Fernandez Treasurer 1.00 0.00 X X 0 0 0 Wanda Salaman Secretary 2.00 0.00 X 0 0 0 Daniel White Member 1.00 0.00 X 0 0 0 YORMAN NUNEZ Member 1.00 0.00 X 0 0 0 Misra Walker Member 1.00 0.00 X 24240 0 0 Rebecca Lurie Member 1.00 0.00 X 0 0 0 ANGELA TOVAR Member 1.00 0.00 X 0 0 0 NICK IUVIENE Member 1.00 0.00 X 0 0 0 KELLIE TERRY Member 1.00 0.00 X 0 0 0 Dara Nussbaum Executive Dir. 40.00 0.00 X 81000 0 0 105240 0 false false false 0 56279 305600 361879 0 2679 2679 0 0 0 0 0 0 0 Consulting Fees 900099 44000 44000 44000 408558 44000 2679 X 0 0 0 0 105240 89040 16200 0 128029 76577 24640 26812 0 33202 24125 5662 3415 20672 15091 3514 2067 0 1265 1265 35924 35924 0 0 0 98485 80485 18000 0 88455 56092 28811 3552 23000 23000 0 11500 7015 4485 15921 11582 4339 0 23354 17655 3652 2047 0 0 5314 3868 905 541 6570 6570 Bad debt exepnse 1894 1894 Miscellaneous 679 679 0 599504 398780 139805 60919 234807 1359 60849 445585 435000 26529 0 0 0 0 0 9384 6404 22859 9330 8514 13529 0 0 0 0 0 748554 493406 28874 61678 28874 61678 X 72838 174372 646842 257356 719680 431728 748554 493406 -190946 -97006 X false true X false false X 382875 48500 130300 222136 361879 1145690 0 0 382875 48500 130300 222136 361879 1145690 721163 424527 52 2679 2731 0 0 1148421 44000 0.36970 X Support Schedule: Other Income Explanation 2013 Unusual grant $900,000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22859 9330 13529 13529 X 441143 32585 32585 408558 408558 632089 32585 32585 599504 599504 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 2013. 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.