Liabilities / Assets
48th percentile
Higher debt load relative to assets than 48% of similar nonprofits.
990 • Fiscal year 2014 • EIN 13-2938457
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
Liabilities / Assets
48th percentile
Higher debt load relative to assets than 48% of similar nonprofits.
Liabilities / Revenue
85th percentile
Higher debt load relative to revenue than 85% of similar nonprofits.
Net Margin
97th percentile
Higher net margin than 97% of similar nonprofits.
Top Officer Pay
87th percentile
Higher top officer pay than 87% of similar nonprofits.
Top officer pay equals 31.1% of source-year revenue.
Asset Growth
35th percentile
Faster asset growth than 35% of similar nonprofits.
Revenue Growth
33rd percentile
Faster revenue growth than 33% of similar nonprofits.
Assets
Down$8,761,522
Down $59,897 (-0.7%) from 2013
Net Assets
Up$7,264,307
Up $762,373 (+12%) from 2013
Liabilities
Down$1,497,215
Down $822,270 (-35%) from 2013
Revenue
Down$939,138
Down $12,346 (-1.3%) from 2013
Expenses
Down$176,764
Down $21,957 (-11%) from 2013
Net Income
Up$762,374
Up $9,611 (+1.3%) from 2013
To stimulate overall economic development of the Harlem Community through the creation of enterprises, generation of jobs and improvement of services.
Local development Corp (LDC) - Community Economic Development projects benefiting the general public.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $8,195,154 | $8,182,514 | ▼ $12,640 |
| Cash and Non-Interest-Bearing Accounts | $577,016 | $367,575 | ▼ $209,441 |
| Accounts Receivable | $39,300 | $0 | ▼ $39,300 |
| Savings and Temporary Cash Investments | - | $0 | - |
| Other Notes and Loans Receivable, Net | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | - | $0 | - |
| Investments Program Related | - | $0 | - |
| Investments in Publicly Traded Securities | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Prepaid Expenses and Deferred Charges | - | $0 | - |
| Total Assets | $8,821,418 | $8,761,522 | ▼ $59,896 |
| Other Assets Total | $9,948 | $211,433 | ▲ $201,485 |
| Liabilities | |||
| Other Liabilities | $2,309,485 | $1,486,905 | ▼ $822,580 |
| Accounts Payable and Accrued Expenses | $10,000 | $10,310 | ▲ $310 |
| Total Liabilities | $2,319,485 | $1,497,215 | ▼ $822,270 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $6,501,933 | $7,264,307 | ▲ $762,374 |
| Total Net Assets Fund Balance | $6,501,933 | $7,264,307 | ▲ $762,374 |
| Total Liabilities and Net Assets / Fund Balance | $8,821,418 | $8,761,522 | ▼ $59,896 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Land | $8,151,441 | - | $8,151,441 |
| Equipment | $31,073 | $32,127 | $63,200 |
| Name | Title | Other | Total |
|---|---|---|---|
| Salvatore V Jordan Jr | CFO | $90,024 | $90,024 |
| Name | Title |
|---|---|
| Jonnie Marshall | Chairperson |
| Millicent Redick | Vice Chair |
| Barbara Askins | Member |
| Michael T Johnson | Member |
| Joseph L Tait | Pres/CEO |
| Gloria Hartley | Secretary |
| Line Item | Amount |
|---|---|
| Other Expenses | $170,603 |
| Salaries, Compensation, and Employee Benefits | $6,161 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Occupancy | $96,100 | - | - | $96,100 |
| Other Expenses | - | $39,300 | - | $39,300 |
| Depreciation Depletion | $12,640 | - | - | $12,640 |
| Fees for Services Legal | - | $10,160 | - | $10,160 |
| Fees for Services Accounting | - | $10,000 | - | $10,000 |
| Other Salaries and Wages | $4,929 | - | - | $4,929 |
| Office Expenses | - | $2,403 | - | $2,403 |
| Payroll Taxes | $1,232 | - | - | $1,232 |
| Total Functional Expenses | $114,901 | $61,863 | $0 | $176,764 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
| Liability | Amount |
|---|---|
| Mortgage Payable - Affiliate | $1,463,657 |
| Rent Collected in Advance | $20,833 |
| Due to Affiliates | $2,415 |
“Directors of Commonwealth Local Development Corporation (CLDC) are appointed by the Harlem Commonwealth Council, Inc the sole member of CLDC.”
“Directors of the Commonwealth Local Development Corp. may be removed without cause by its member.”
“Form 990 is prepared with direct input from the CFO and president. The Form 990 is distributed to each board member and reviewed by the audit committee before filing. An analytical tool (review checklist) is included with the member's copy of the Form 990 to assist in understanding the purpose and content of each part and section of the Form 990. Questions or comments are to be brought to the attention of the president and the Form 990 paid preparer.”
“The organization's written conflict of interest policies and annual updates apply to officers, directors, and key employees. Compliance is monitored through internal control procedures on an ongoing basis by the CFO and President. Restrictions are imposed on the voting rights of board members or the President where participation in governing body's deliberations and decisions could result in conflicts of interest.”
“Compensation of the Chief Executive Officer and President is reviewed and approved by the board of directors, compensation and finance committee of the Harlem Commonwealth Council, Inc. (HCCI). HCCI refers to compensation data for similarly qualified persons in functionally comparable positions. Outside legal counsel's analysis/study of comparable salary levels is used. Contemporaneous documentation of deliberations and decisions regarding compensation contracts is maintained. There are employment contracts for the CEO/President.”
“The organization makes its governing documents, conflicts of interest policies and financial statements available to the general public upon request. Audited financial statements are provided to donors, potential donors and funding sources. All documents are available at the organization's executive office. Financial and program information is published on the organization central website.”
“The organization does not have employees. The compensation, salaries and wages, and payroll taxes reported on Lines 5, 7 and 10 are allocations from Harlem Commonwealth Council, Inc., Commonwealth Industrial Parks, Inc., and Commonwealth Holding Co., Inc., which are all related organizations.”
“HCC and CLDC are nonprofit entities exempt from income tax under the provisions of Section 501 (c)(3) of the Internal Revenue Code. HCC and CLDC has adopted the provisions of FASB ASC 740-10-25, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. HCC and CLDC do not believe its financial statements include any uncertain tax positions.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990/AccountantCompileOrReviewInd | 0 | false |
| IRS990/AccountsPayableAccrExpnssGrp/BOYAmt | 0 | 10000 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 10310 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 39300 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | Local development Corp (LDC) - Community Economic Development projects benefiting the general public. |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 0 |
| IRS990/AllAffiliatesIncludedInd | 0 | false |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 0 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | true |
| IRS990/AuditCommitteeInd | 0 | true |
| IRS990/BackupWthldComplianceInd | 0 | true |
| IRS990/BenefitsToMembersGrp/TotalAmt | 0 | 0 |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | Salvatore V Jordan Jr |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 2127490900 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1 | 0 | 361 West 125th Street |
| IRS990/BooksInCareOfDetail/USAddress/City | 0 | New York |
| IRS990/BooksInCareOfDetail/USAddress/State | 0 | NY |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCode | 0 | 10027 |
| IRS990/BusinessRlnWithFamMemInd | 0 | false |
| IRS990/BusinessRlnWithOfficerEntInd | 0 | false |
| IRS990/BusinessRlnWithOrgMemInd | 0 | false |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 577016 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 367575 |
| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/CollectionsOfArtInd | 0 | false |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 0 |
| IRS990/CompDisqualPersonsGrp/TotalAmt | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | false |
| IRS990/CompensationProcessCEOInd | 0 | true |
| IRS990/CompensationProcessOtherInd | 0 | true |
| IRS990/ConferencesMeetingsGrp/TotalAmt | 0 | 0 |
| IRS990/ConflictOfInterestPolicyInd | 0 | true |
| IRS990/ConservationEasementsInd | 0 | false |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | true |
| IRS990/CreditCounselingInd | 0 | false |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 0 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/CYInvestmentIncomeAmt | 0 | 138 |
| IRS990/CYOtherExpensesAmt | 0 | 170603 |
| IRS990/CYOtherRevenueAmt | 0 | 0 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 939000 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 762374 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 6161 |
| IRS990/CYTotalExpensesAmt | 0 | 176764 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 939138 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | true |
| IRS990/DeductibleArtContributionInd | 0 | false |
| IRS990/DeductibleNonCashContriInd | 0 | false |
| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 12640 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 12640 |
| IRS990/Desc | 0 | Community Local Development - Organization originates community economic development projects in enterprise or equivalent zones targeted as economic development areas (Harlem NYC). Projects include an indoor retail shopping and theater/entertainment complex accommodating thousands of consumers and visitors. Approximately 500 new jobs were created through this project which provides a retail stimulus to economic development in the target area. A second community development project, a retail shopping complex, now in the early development stage, is being constructed on a site owned by the organization and designated for local economic development purposes. The organization provides input to ensure that their projects achieve the objectives of economic development and promote the general welfare. |
| IRS990/DescribedInSection501c3Ind | 0 | true |
| IRS990/DisregardedEntityInd | 0 | false |
| IRS990/DistributionToDonorInd | 0 | false |
| IRS990/DocumentRetentionPolicyInd | 0 | true |
| IRS990/DonorAdvisedFundInd | 0 | false |
| IRS990/ElectionOfBoardMembersInd | 0 | true |
| IRS990/EmployeeCnt | 0 | 0 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | false |
| IRS990/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990/EscrowAccountInd | 0 | false |
| IRS990/ExcessBusinessHoldingsInd | 0 | false |
| IRS990/ExpenseAmt | 0 | 114901 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditRequiredInd | 0 | false |
| IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt | 0 | 10000 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 10000 |
| IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt | 0 | 10160 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 10160 |
| IRS990/FeesForServicesLobbyingGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesProfFundraising/TotalAmt | 0 | 0 |
| IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignGrantsGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | false |
| IRS990/Form1098CFiledInd | 0 | false |
| IRS990/Form8282FiledCnt | 0 | 0 |
| IRS990/Form8282PropertyDisposedOfInd | 0 | false |
| IRS990/Form8899Filedind | 0 | false |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 0 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 1 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 2 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 3 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 4 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 5 | 32.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 6 | 33.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 3.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 5 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Jonnie Marshall |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Millicent Redick |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Gloria Hartley |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Michael T Johnson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Barbara Askins |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Joseph L Tait |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Salvatore V Jordan Jr |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 292307 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 90024 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | Chairperson |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Vice Chair |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Pres/CEO |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | CFO |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/Form990TFiledInd | 0 | false |
| IRS990/FormationYr | 0 | 1977 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 6 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 939138 |
| IRS990/GroupExemptionNum | 0 | 8065 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | true |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 5 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 0 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 0 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/InterestGrp/TotalAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 138 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 138 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 1 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 32127 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 8195154 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 8182514 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 8214641 |
| IRS990/LegalDomicileStateCd | 0 | NY |
| IRS990/LicensedMoreThanOneStateInd | 0 | false |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | false |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | To stimulate overall economic development of the Harlem Community through the creation of enterprises, generation of jobs and improvement of services. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 6501933 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 7264307 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 96100 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 96100 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 2403 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 2403 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OnBehalfOfIssuerInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OrgFiledInLieuOfForm1041Ind | 0 | false |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 9948 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 211433 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | Bad debts |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 39300 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 39300 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2309485 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 1486905 |
| IRS990/OtherRevenueTotalAmt | 0 | 0 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 4929 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 4929 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 1232 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 1232 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | Joseph L Tait |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 531120 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Econ. Dev. Prog. Rent |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 939000 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 939000 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 1484 |
| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 155166 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 950000 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 752763 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 43555 |
| IRS990/PYTotalExpensesAmt | 0 | 198721 |
| IRS990/PYTotalRevenueAmt | 0 | 951484 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
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| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 1484 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 1622 |
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| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 950000 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 885000 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 864000 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 864000 |
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| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 1484 |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 20833 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Due to Affiliates |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | Mortgage Payable - Affiliate |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | Rent Collected in Advance |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | HCC and CLDC are nonprofit entities exempt from income tax under the provisions of Section 501 (c)(3) of the Internal Revenue Code. HCC and CLDC has adopted the provisions of FASB ASC 740-10-25, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. HCC and CLDC do not believe its financial statements include any uncertain tax positions. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
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| IRS990ScheduleD/TotalLiabilityAmt | 0 | 1486905 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | Joseph L Tait |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Directors of Commonwealth Local Development Corporation (CLDC) are appointed by the Harlem Commonwealth Council, Inc the sole member of CLDC. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Directors of the Commonwealth Local Development Corp. may be removed without cause by its member. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Form 990 is prepared with direct input from the CFO and president. The Form 990 is distributed to each board member and reviewed by the audit committee before filing. An analytical tool (review checklist) is included with the member's copy of the Form 990 to assist in understanding the purpose and content of each part and section of the Form 990. Questions or comments are to be brought to the attention of the president and the Form 990 paid preparer. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The organization's written conflict of interest policies and annual updates apply to officers, directors, and key employees. Compliance is monitored through internal control procedures on an ongoing basis by the CFO and President. Restrictions are imposed on the voting rights of board members or the President where participation in governing body's deliberations and decisions could result in conflicts of interest. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Compensation of the Chief Executive Officer and President is reviewed and approved by the board of directors, compensation and finance committee of the Harlem Commonwealth Council, Inc. (HCCI). HCCI refers to compensation data for similarly qualified persons in functionally comparable positions. Outside legal counsel's analysis/study of comparable salary levels is used. Contemporaneous documentation of deliberations and decisions regarding compensation contracts is maintained. There are employment contracts for the CEO/President. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | The organization makes its governing documents, conflicts of interest policies and financial statements available to the general public upon request. Audited financial statements are provided to donors, potential donors and funding sources. All documents are available at the organization's executive office. Financial and program information is published on the organization central website. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | The organization does not have employees. The compensation, salaries and wages, and payroll taxes reported on Lines 5, 7 and 10 are allocations from Harlem Commonwealth Council, Inc., Commonwealth Industrial Parks, Inc., and Commonwealth Holding Co., Inc., which are all related organizations. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 11b: Form 990 Review Process |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, IX, Line, 5, 7, and 10 |
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| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt | 1 | C Corp |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd | 0 | NY |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd | 1 | NY |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt | 0 | Holding company |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt | 1 | Manages Econ Dev. Project |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1 | 0 | Commonwealth Holding Co Inc |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1 | 1 | Commonwealth Industrial Parks Inc |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1 | 0 | 361 West 125th Street |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1 | 1 | 361 West 125th Street |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/City | 0 | New York |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/City | 1 | New York |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/State | 0 | NY |
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Displayed year
2014 • Form 990Detailed filing. Detailed filing data is available for this year.