Civic Intelligence

Harlem Commonwealth Council Inc.

990 • Fiscal year 2021 • EIN 13-6271908

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

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

44th percentile

0.23x

Higher debt load relative to assets than 44% of similar nonprofits.

2021 filings • NTEE S • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

64th percentile

1.15x

Higher debt load relative to revenue than 64% of similar nonprofits.

2021 filings • NTEE S • $10M-$25M nonprofits • Source year 2021

Net Margin

60th percentile

29%

Higher net margin than 60% of similar nonprofits.

2021 filings • NTEE S • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

43rd percentile

$140,125

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2021 filings • NTEE S • $10M-$25M nonprofits • Source year 2021

Asset Growth

84th percentile

34%

Faster asset growth than 84% of similar nonprofits.

2021 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

21st percentile

-12%

Faster revenue growth than 21% of similar nonprofits.

2021 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$23,103,090

Up $5,805,618 (+34%) from 2020

Net Assets

Up

$17,793,424

Up $1,638,049 (+10%) from 2020

Liabilities

Up

$5,309,666

Up $4,167,569 (+365%) from 2020

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin60th percentile

Revenue

Down

$4,625,925

Down $633,371 (-12%) from 2020

Expenses

Down

$3,300,998

Down $348,787 (-9.6%) from 2020

Net Income

Down

$1,324,927

Down $284,584 (-18%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2021

Assets$23,103,090
Liabilities$5,309,666
Net Assets$17,793,424
Open 2021 Filing

Operations Trend

Revenue Growth21st 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

2021

Revenue$4,625,925
Expenses$3,300,998
Net Income$1,324,927
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$4,625,925
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
Investments Program Related$5,770,796$9,759,107▲ $3,988,311
Land, Buildings, and Equipment, Net$6,213,974$6,068,892▼ $145,082
Savings and Temporary Cash Investments$2,620,915$3,875,683▲ $1,254,768
Investments in Publicly Traded Securities$1,994,556$2,532,621▲ $538,065
Pledges and Grants Receivable$413,484$539,566▲ $126,082
Prepaid Expenses and Deferred Charges$27,162$67,696▲ $40,534
Accounts Receivable$70,661$43,394▼ $27,267
Cash and Non-Interest-Bearing Accounts-$12,340-
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$17,111,548$23,103,090▲ $5,991,542
Other Assets Total-$203,791-
Liabilities
Other Liabilities$569,520$4,558,107▲ $3,988,587
Unsecured Notes Loans Payable$445,093$475,571▲ $30,478
Accounts Payable and Accrued Expenses$126,215$275,988▲ $149,773
Total Liabilities$1,140,828$5,309,666▲ $4,168,838
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,970,720$17,793,424▲ $1,822,704
Total Net Assets Fund Balance$15,970,720$17,793,424▲ $1,822,704
Total Liabilities and Net Assets / Fund Balance$17,111,548$23,103,090▲ $5,991,542

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,208,541$6,862,673$11,071,214
Land$1,860,351-$1,860,351
Equipment-$382,971$382,971
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dr Joseph L TaitCOOPT$140,125$140,125
E Hamil DouglasPresident & CEOPT$132,693$132,693

Board Members and Trustees

NameTitle
Anthony D WatsonChairman
Michelle HardyVice Chair
Barbara AskinsBoard Director
Michael T JohnsonBoard Director
Richard ShawBoard Director
Robert HorsfordBoard Director
Revenue and Support

Revenue Composition

Contributions and Grants
$2,422,289
Program Service Revenue
$1,781,678
Investment Income
$40,509
Other Revenue
$381,449
All Other Contributions
$88,000
Change in Net Assets
$1,324,927
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,029,108
Other Expenses$1,271,890
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$917,253$576,976-$1,494,229
Fees for Services Other$227,966$257,777-$485,743
Other Employee Benefits$235,248$130,341-$365,589
Office Expenses$147,359$64,264-$211,623
Payroll Taxes$91,190$54,216-$145,406
Depreciation Depletion-$145,082-$145,082
Fees for Services Accounting$69,224$54,850-$124,074
Occupancy$28,321$76,690-$105,011
Information Technology$26,420$16,076-$42,496
Conferences and Meetings$1,236$24,263-$25,499
Pension Plan Contributions$14,788$9,096-$23,884
Insurance-$20,800-$20,800
Interest-$13,545-$13,545
Fees for Services Legal$4,648$3,099-$7,747
Other Expenses$4,503$237-$4,740
Advertising$1,978$1,450-$3,428
Travel$17--$17
Total Functional Expenses$1,770,151$1,530,847$0$3,300,998
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$4,222,102
Due to Affiliate$310,041
Due to Lessee$25,964
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
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
EHamil Douglas
Title
President
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
EHamil Douglas
Formed
1967
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
6
Employees
57
Volunteers
7

Preparer

Firm
Watsonrice Llp
Address
5 Penn Plz FL 19, New York, NY 10001
Preparer
Baruti Bediako CPA
Phone
2124477300
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IRS990/PrincipalOfficerNm0EHamil Douglas
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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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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,103,090
Liabilities
$5,309,666
Net assets
$17,793,424
Revenue
$4,625,925
Expenses
$3,300,998
Net income
$1,324,927
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
2021Detailed filing. Detailed filing data is available for this year.$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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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