Liabilities / Assets
47th percentile
Higher debt load relative to assets than 47% of similar nonprofits.
990 • Fiscal year 2019 • EIN 13-2938457
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
Liabilities / Assets
47th percentile
Higher debt load relative to assets than 47% of similar nonprofits.
Liabilities / Revenue
87th percentile
Higher debt load relative to revenue than 87% of similar nonprofits.
Net Margin
80th percentile
Higher net margin than 80% of similar nonprofits.
Top Officer Pay
46th percentile
Higher top officer pay than 46% of similar nonprofits.
Top officer pay equals 13.8% of source-year revenue.
Asset Growth
32nd percentile
Faster asset growth than 32% of similar nonprofits.
Revenue Growth
45th percentile
Faster revenue growth than 45% of similar nonprofits.
Assets
Down$13,061,508
Down $45,649 (-0.3%) from 2018
Net Assets
Up$10,806,414
Up $258,048 (+2.4%) from 2018
Liabilities
Down$2,255,094
Down $303,697 (-12%) from 2018
Revenue
Up$1,194,731
Up $24,127 (+2.1%) from 2018
Expenses
Up$936,683
Up $712,073 (+317%) from 2018
Net Income
Down$258,048
Down $687,946 (-73%) from 2018
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 | $11,031,441 | $11,031,441 | → $0 |
| Cash and Non-Interest-Bearing Accounts | $1,065,990 | $992,106 | ▼ $73,884 |
| Investments Program Related | $800,000 | $800,000 | → $0 |
| Savings and Temporary Cash Investments | - | $0 | - |
| Accounts Receivable | - | $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 in Publicly Traded Securities | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Prepaid Expenses and Deferred Charges | - | $0 | - |
| Total Assets | $13,107,157 | $13,061,508 | ▼ $45,649 |
| Other Assets Total | $209,726 | $237,961 | ▲ $28,235 |
| Liabilities | |||
| Other Liabilities | $2,538,791 | $2,235,094 | ▼ $303,697 |
| Accounts Payable and Accrued Expenses | $20,000 | $20,000 | → $0 |
| Total Liabilities | $2,558,791 | $2,255,094 | ▼ $303,697 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $10,548,366 | $10,806,414 | ▲ $258,048 |
| Total Net Assets Fund Balance | $10,548,366 | $10,806,414 | ▲ $258,048 |
| Total Liabilities and Net Assets / Fund Balance | $13,107,157 | $13,061,508 | ▼ $45,649 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Land | $11,031,441 | - | $11,031,441 |
| Name | Title | Other | Total |
|---|---|---|---|
| Joseph L Tait | COO | $100,000 | $100,000 |
| Narain Sew | CFO | $85,189 | $85,189 |
| Name | Title |
|---|---|
| Jonnie Marshall | Chairperson |
| Kelvin collins | President & CEO |
| Richard Shaw | Vice Chair |
| Aaron Migdol Esq | Member |
| Zevilla J Preston | Member |
| Michael T Johnson | Secretary |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $650,000 |
| Other Expenses | $146,683 |
| Salaries, Compensation, and Employee Benefits | $140,000 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $650,000 | - | - | $650,000 |
| Other Salaries and Wages | - | $113,684 | - | $113,684 |
| Interest | - | $110,554 | - | $110,554 |
| Current Officers, Directors, Trustees, and Key Employees | - | $26,316 | - | $26,316 |
| Fees for Services Accounting | - | $17,000 | - | $17,000 |
| Occupancy | - | $10,000 | - | $10,000 |
| Fees for Services Legal | - | $5,260 | - | $5,260 |
| Office Expenses | - | $3,869 | - | $3,869 |
| Total Functional Expenses | $650,000 | $286,683 | $0 | $936,683 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $936,683 |
| Total Expenses per Audited Statements | $936,683 |
| Total Expenses per Form 990 | $936,683 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Harlem Entrepreneurial Fund | New York, NY | - | - | $400,000 |
| Harlem Commonwealth Council | New York, NY | 501(c)(3) | To grant business loans/oper. Exp | $250,000 |
| 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 | $2,233,679 |
| Due to Affiliates | $1,415 |
“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 Director of Finance. 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 | 20000 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 20000 |
| 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 | Kimberly Cartagena |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 2127490900 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 361 West 125th Street |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | New York |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | NY |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 10027 |
| IRS990/BusinessRlnWithFamMemInd | 0 | false |
| IRS990/BusinessRlnWithOfficerEntInd | 0 | false |
| IRS990/BusinessRlnWithOrgMemInd | 0 | false |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 1065990 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 992106 |
| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/CollectionsOfArtInd | 0 | false |
| IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt | 0 | 26316 |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 26316 |
| 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 | 650000 |
| IRS990/CYInvestmentIncomeAmt | 0 | 0 |
| IRS990/CYOtherExpensesAmt | 0 | 146683 |
| IRS990/CYOtherRevenueAmt | 0 | 20833 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 1173898 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 258048 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 140000 |
| IRS990/CYTotalExpensesAmt | 0 | 936683 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 1194731 |
| IRS990/DAFExcessBusinessHoldingsInd | 0 | false |
| IRS990/DecisionsSubjectToApprovaInd | 0 | true |
| IRS990/DeductibleArtContributionInd | 0 | false |
| IRS990/DeductibleNonCashContriInd | 0 | false |
| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 0 |
| IRS990/Desc | 0 | CLDC IS A LOCAL DEVELOPMENT CORPORATION THAT MANAGES LOCAL DEVELOPMENT PROJECTS IN HARLEM AND SURROUNDING COMMUNITIES. THE PORTFOLIO OF PROJECTS INCLUDES RETAIL AND COMMERCIAL DEVELOPMENTS WHICH HAVE BEEN CRITICAL IN THE ECONOMIC DEVELOPMENT OF THE LOCALS OF HARLEM ECONOMY. HUNDREDS OF JOBS HAVE BEEN CREATED AND RETAINED IN VARIOUS SECTORS AND ARE AVAILABLE TO RESIDENTS OF THE COMMUNITY. THE ORGANIZATIONS OVERALL WORK PROMOTES THE ECONOMIC VIBRANCY AND GENERAL WELFARE OF THE COMMUNITY AND it's RESIDENTS. |
| 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/ExpenseAmt | 0 | 650000 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditRequiredInd | 0 | false |
| IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt | 0 | 17000 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 17000 |
| IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt | 0 | 5260 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 5260 |
| 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 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 1 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 2 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 3 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 4 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 5 | 32.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 6 | 33.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 7 | 33.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 2.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 3.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 3.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 3.00 |
| 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/OfficerInd | 5 | 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/OtherCompensationAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Jonnie Marshall |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Richard Shaw |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Michael T Johnson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Aaron Migdol Esq |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Zevilla J Preston |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Kelvin collins |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Narain Sew |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Joseph L Tait |
| 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/ReportableCompFromOrgAmt | 7 | 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 | 164328 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 85189 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 100000 |
| 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 | President & CEO |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | CFO |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | COO |
| 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/GrantAmt | 0 | 650000 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 650000 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 650000 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | true |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 1194731 |
| 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/ManagementAndGeneralAmt | 0 | 110554 |
| IRS990/InterestGrp/TotalAmt | 0 | 110554 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 800000 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 800000 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 1 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 11031441 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 11031441 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 11031441 |
| 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 | 10548366 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 10806414 |
| 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/ManagementAndGeneralAmt | 0 | 10000 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 10000 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 3869 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 3869 |
| 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 | 209726 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 237961 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 0 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2538791 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 2235094 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | Other Income |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 20833 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 20833 |
| IRS990/OtherRevenueTotalAmt | 0 | 20833 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 113684 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 113684 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
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| IRS990/PrincipalOfficerNm | 0 | Joseph L Tait |
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| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | Harlem Commonwealth Council Inc |
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| 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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| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | To grant business loans/oper. Exp |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | Kelvin collins |
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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 Director of Finance. 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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Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.