Civic Intelligence

Harlem Commonwealth Council Inc.

990 • Fiscal year 2018 • EIN 13-6271908

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

Organization Profilewww.harlemcommonwealth.org
361 West 125th StreetNew York, NY 10027

(212) 749-0900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

29th percentile

0.06x

Higher debt load relative to assets than 29% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

60th percentile

0.35x

Higher debt load relative to revenue than 60% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

7th percentile

-39%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

66th percentile

$231,116

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

19th percentile

-5.5%

Faster asset growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

70th percentile

13%

Faster revenue growth than 70% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$15,449,372

Down $902,942 (-5.5%) from 2017

Net Assets

Down

$14,551,948

Down $952,898 (-6.1%) from 2017

Liabilities

Up

$897,424

Up $49,956 (+5.9%) from 2017

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin7th percentile

Revenue

Up

$2,579,605

Up $290,497 (+13%) from 2017

Expenses

Up

$3,581,880

Up $777,507 (+28%) from 2017

Net Income

Down

-$1,002,275

Down $487,010 (-95%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2011: $15,991,674Liabilities 2011: $546,566Net Assets 2011: $15,445,1082011Assets 2012: $16,386,960Liabilities 2012: $1,249,614Net Assets 2012: $15,137,3462012Assets 2013: $16,233,608Liabilities 2013: $1,712,218Net Assets 2013: $14,521,3902013Assets 2014: $18,320,121Liabilities 2014: $3,473,689Net Assets 2014: $14,846,4322014Assets 2015: $18,424,504Liabilities 2015: $1,260,692Net Assets 2015: $17,163,8122015Assets 2016: $17,173,839Liabilities 2016: $1,199,875Net Assets 2016: $15,973,9642016Assets 2017: $16,352,314Liabilities 2017: $847,468Net Assets 2017: $15,504,8462017Assets 2018: $15,449,372Liabilities 2018: $897,424Net Assets 2018: $14,551,9482018Assets 2019: $15,509,374Liabilities 2019: $1,004,084Net Assets 2019: $14,505,2902019Assets 2020: $17,297,472Liabilities 2020: $1,142,097Net Assets 2020: $16,155,3752020Assets 2021: $23,103,090Liabilities 2021: $5,309,666Net Assets 2021: $17,793,4242021Assets 2022: $21,380,890Liabilities 2022: $3,794,792Net Assets 2022: $17,586,0982022Assets 2023: $23,796,742Liabilities 2023: $3,945,268Net Assets 2023: $19,851,4742023Assets 2024: $27,433,787Liabilities 2024: $5,261,399Net Assets 2024: $22,172,3882024

Highlighted filing

2018

Assets$15,449,372
Liabilities$897,424
Net Assets$14,551,948
Open 2018 Filing

Operations Trend

Revenue Growth70th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $808,547Expenses 2011: $1,405,618Net Income 2011: -$597,0712011Expenses 2012: $1,883,6582012Expenses 2013: $2,967,5772013Revenue 2014: $2,192,696Expenses 2014: $2,699,685Net Income 2014: -$506,9892014Revenue 2015: $4,846,666Expenses 2015: $3,029,286Net Income 2015: $1,817,3802015Revenue 2016: $2,403,844Expenses 2016: $2,816,238Net Income 2016: -$412,3942016Revenue 2017: $2,289,108Expenses 2017: $2,804,373Net Income 2017: -$515,2652017Revenue 2018: $2,579,605Expenses 2018: $3,581,880Net Income 2018: -$1,002,2752018Revenue 2019: $3,438,770Expenses 2019: $3,531,260Net Income 2019: -$92,4902019Revenue 2020: $5,259,296Expenses 2020: $3,649,785Net Income 2020: $1,609,5112020Revenue 2021: $4,625,925Expenses 2021: $3,300,998Net Income 2021: $1,324,9272021Revenue 2022: $4,456,840Expenses 2022: $3,467,340Net Income 2022: $989,5002022Revenue 2023: $4,589,344Expenses 2023: $4,059,208Net Income 2023: $530,1362023Revenue 2024: $6,742,627Expenses 2024: $4,720,041Net Income 2024: $2,022,5862024

Highlighted filing

2018

Revenue$2,579,605
Expenses$3,581,880
Net Income-$1,002,275
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.2
Gross Receipts
$2,579,605
Mission and Program Overview

Mission

Stimulate overall economic development through creation of enterprises, generation of jobs and improvement of services. Mission accomplished through community development projects, education, training, entrepreneurial loan program, and other support.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,655,900$6,508,582▼ $147,318
Investments Program Related$6,065,245$5,684,728▼ $380,517
Investments in Publicly Traded Securities$1,122,031$1,196,789▲ $74,758
Cash and Non-Interest-Bearing Accounts$347,372$603,967▲ $256,595
Savings and Temporary Cash Investments$504,222$0▼ $504,222
Pledges and Grants Receivable$319,112$432,755▲ $113,643
Accounts Receivable$25,725$0▼ $25,725
Prepaid Expenses and Deferred Charges$27,145$22,551▼ $4,594
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$16,352,314$15,449,372▼ $902,942
Other Assets Total$1,285,562$1,000,000▼ $285,562
Liabilities
Other Liabilities$636,210$607,389▼ $28,821
Accounts Payable and Accrued Expenses$211,258$268,761▲ $57,503
Deferred Revenue-$21,274-
Total Liabilities$847,468$897,424▲ $49,956
Net Assets / Fund Balance
Unrestricted Net Assets$15,504,846$14,551,948▼ $952,898
Total Net Assets Fund Balance$15,504,846$14,551,948▼ $952,898
Total Liabilities and Net Assets / Fund Balance$16,352,314$15,449,372▼ $902,942

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,639,786$6,431,428$11,071,214
Land$1,860,351-$1,860,351
Equipment$8,445$374,526$382,971
Other Assets Org$1,000,000--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Joseph L TaitCOOPT$229,167$1,949$231,116
Kelvin CollinsPres/CEOPT$150,000-$150,000
Narain SewCFOPT$90,000-$90,000

Board Members and Trustees

NameTitle
Richard ShawChairperson
Michelle HardyVice Chair
Aaron MidgolBoard Director
Jonnie MarshallBoard Director
Michael T JohnsonBoard Director
Zevilla Jackson PrestonBoard Director
Anthony D WatsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,665,884
Program Service Revenue
$880,162
Investment Income
$128
Other Revenue
$33,431
All Other Contributions
$307,000
Change in Net Assets
$-1,002,275

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,567,630
Revenue Not Reported on Financial Statements
$11,975
Revenue Not Reported on Form 990
$348,310
Other Revenue Adjustments
$11,975
Total Revenue per Audited Statements
$2,915,940
Total Revenue per Form 990
$2,579,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,193,484
Other Expenses$1,388,396
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$786,966$612,964-$1,399,930
Fees for Services Other$62,011$304,225-$366,236
Current Officers, Directors, Trustees, and Key Employees$24,385$325,510-$349,895
Office Expenses$139,195$136,726-$275,921
Other Employee Benefits$90,746$152,913-$243,659
Payroll Taxes$49,152$127,618-$176,770
Depreciation Depletion-$151,318-$151,318
Occupancy$11,501$116,499-$128,000
Fees for Services Legal-$64,990-$64,990
Conferences and Meetings$8,833$20,983-$29,816
Insurance$1,448$25,724-$27,172
Information Technology-$24,162-$24,162
Pension Plan Contributions$7,151$16,079-$23,230
Other Expenses$19,137$60,947-$19,137
Fees for Services Accounting$2,350$15,107-$17,457
Travel$10,763$2,824-$13,587
All Other Expenses-$12,156-$12,156
Interest-$10,907-$10,907
Advertising-$3,291-$3,291
Total Functional Expenses$1,249,957$2,331,923$0$3,581,880

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,868,838
Total Expenses per Form 990$3,581,880
Expenses per Audited Statements$3,569,905
Expenses Not Reported on Form 990$298,933
Expenses Not Reported on Financial Statements$11,975
Other Expense Adjustments$11,975
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
loan payable-unconsolidated affiliate$353,827
Due to Affiliate$227,598
Security Deposit$25,964
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 is prepared with direct input from the CFO and president and is reviewed by the audit committee and distributed to each board member before filing. Questions or comments are to be brought to the attention of the President and the Form 990 paid preparer.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization's written conflict of interest policies and annual updates apply to officers, directors and employees. Compliance is monitored through internal control procedures on an ongoing basis by the CFO and President. Restrictions are imposed on voting rights of board members or officers where participation in the governing body's deliberations and decisions could result in conflicts of interest.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation of the Chief Executive Officer and President is reviewed and approved by the board of directors, and the compensation and finance committee. The organization 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. No other officers or employees receive annual compensation in excess of $75,000 from the organization, including related entities.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents, conflict of interest policy 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 organizations website.”

Filing and Contact Details

Filer

Filer Name
Harlem Commonwealth Council Inc
EIN
13-6271908
Phone
2127490900
Address
361 West 125th Street, New York, NY 10027

Signing Officer

Name
Kelvin Collins
Title
President & CEO
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelvin Collins
Formed
1967
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
7
Employees
48
Volunteers
7

Preparer

Firm
Bca Watson Rice Llp
Address
5 PENN PLAZA 15TH FL, NEW YORK, NY 10001-1810
Preparer
Baruti Bediako CPA
Phone
2124477300
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“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 have adopted the provisions of F ASB 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.”

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“$0 In-Kind support $11975”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“In-kind expense netted against Evnt/act $11975”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm4Aaron Midgol
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IRS990/Form990PartVIISectionAGrp/PersonNm6Michael T Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm7Dr Joseph L Tait
IRS990/Form990PartVIISectionAGrp/PersonNm8Kelvin Collins
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IRS990/MissionDesc0Stimulate overall economic development through creation of enterprises, generation of jobs and improvement of services. Mission accomplished through community development projects, education, training, entrepreneurial loan program, and other support.
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IRS990/OccupancyGrp/TotalAmt0128000
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0136726
IRS990/OfficeExpensesGrp/ProgramServicesAmt0139195
IRS990/OfficeExpensesGrp/TotalAmt0275921
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IRS990/OtherAssetsTotalGrp/EOYAmt01000000
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0152913
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt090746
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0243659
IRS990/OtherExpensesGrp/Desc0Repairs and maintenance
IRS990/OtherExpensesGrp/Desc1Provision for loan losses
IRS990/OtherExpensesGrp/Desc2Mentors
IRS990/OtherExpensesGrp/Desc3Stipend
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0146980
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt160947
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IRS990/OtherExpensesGrp/ProgramServicesAmt131604
IRS990/OtherExpensesGrp/ProgramServicesAmt219137
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IRS990/OtherExpensesGrp/TotalAmt160947
IRS990/OtherExpensesGrp/TotalAmt231604
IRS990/OtherExpensesGrp/TotalAmt319137
IRS990/OtherLiabilitiesGrp/BOYAmt0636210
IRS990/OtherLiabilitiesGrp/EOYAmt0607389
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt033431
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt033431
IRS990/OtherRevenueTotalAmt033431
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0612964
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0786966
IRS990/OtherSalariesAndWagesGrp/TotalAmt01399930
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0127618
IRS990/PayrollTaxesGrp/ProgramServicesAmt049152
IRS990/PayrollTaxesGrp/TotalAmt0176770
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt016079
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt07151
IRS990/PensionPlanContributionsGrp/TotalAmt023230
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0432755
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt027145
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt022551
IRS990/PrincipalOfficerNm0Kelvin Collins
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
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IRS990/ProgramServiceRevenueGrp/Desc1Intercompany Rent Income
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IRS990/ProgramServiceRevenueGrp/Desc3Rental Income - Econ. Dev
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1387892
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2128491
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3304932
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt058847
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1387892
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2128491
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3304932
IRS990/ProgSrvcAccomActy2Grp/Desc0Harlem Entrepreneurial Fund (HEF) is a federally certified Community Development Financial Institution. HEFs mission is to serve low-income and minority populations by being a direct lender of capital to facilitate small business creation and expansion, and job growth in the under-served communities of Harlem and the Bronx. HEF continues to offer lending products along with pre- and post- loan technical assistance to entrepreneurs.
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IRS990/PYInvestmentIncomeAmt01227
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IRS990/PYOtherExpensesAmt01112545
IRS990/PYOtherRevenueAmt025945
IRS990/PYProgramServiceRevenueAmt0840644
IRS990/PYRevenuesLessExpensesAmt0-515265
IRS990/PYSalariesCompEmpBnftPaidAmt01691828
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IRS990/ReportLandBuildingEquipmentInd0true
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,449,372
Liabilities
$897,424
Net assets
$14,551,948
Revenue
$2,579,605
Expenses
$3,581,880
Net income
-$1,002,275
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.4$5.26$22.2$6.74$4.72$2.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.8$3.95$19.9$4.59$4.06$0.53
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.4$3.79$17.6$4.46$3.47$0.99
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.1$5.31$17.8$4.63$3.30$1.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.3$1.14$16.2$5.26$3.65$1.61
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.5$1.00$14.5$3.44$3.53$0.09
2018Detailed filing. Detailed filing data is available for this year.$15.4$0.90$14.6$2.58$3.58$1.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.4$0.85$15.5$2.29$2.80$0.52
2016Detailed filing. Detailed filing data is available for this year.$17.2$1.20$16.0$2.40$2.82$0.41
2015Detailed filing. Detailed filing data is available for this year.$18.4$1.26$17.2$4.85$3.03$1.82
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.3$3.47$14.8$2.19$2.70$0.51
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$1.71$14.5$2.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.4$1.25$15.1$1.88
2011Summary only. Only limited summary data is available for this year.$16.0$0.55$15.4$0.81$1.41$0.60