Civic Intelligence

Harlem Commonwealth Council Inc.

990 • Fiscal year 2024 • EIN 13-6271908

Jul 01, 2023 to Jun 30, 2024 • Filed on May 15, 2025

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

47th percentile

0.19x

Higher debt load relative to assets than 47% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.78x

Higher debt load relative to revenue than 73% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

82nd percentile

30%

Higher net margin than 82% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

78th percentile

$425,000

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

77th percentile

15%

Faster asset growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

85th percentile

47%

Faster revenue growth than 85% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$27,433,787

Up $3,637,045 (+15%) from 2023

Net Assets

Up

$22,172,388

Up $2,320,914 (+12%) from 2023

Liabilities

Up

$5,261,399

Up $1,316,131 (+33%) from 2023

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin82nd percentile

Revenue

Up

$6,742,627

Up $2,153,283 (+47%) from 2023

Expenses

Up

$4,720,041

Up $660,833 (+16%) from 2023

Net Income

Up

$2,022,586

Up $1,492,450 (+282%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2024

Assets$27,433,787
Liabilities$5,261,399
Net Assets$22,172,388
Open 2024 Filing

Operations Trend

Revenue Growth85th 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

2024

Revenue$6,742,627
Expenses$4,720,041
Net Income$2,022,586
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$6,742,627
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$6,245,323$6,424,378▲ $179,055
Cash and Non-Interest-Bearing Accounts$5,914,751$5,999,896▲ $85,145
Investments Program Related$5,769,156$5,536,351▼ $232,805
Investments in Publicly Traded Securities$2,841,195$4,703,433▲ $1,862,238
Accounts Receivable$2,057,736$2,496,131▲ $438,395
Pledges and Grants Receivable$529,144$1,297,723▲ $768,579
Savings and Temporary Cash Investments$225,449$593,139▲ $367,690
Prepaid Expenses and Deferred Charges$59,936$42,172▼ $17,764
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$23,796,742$27,433,787▲ $3,637,045
Other Assets Total$154,052$340,564▲ $186,512
Liabilities
Other Liabilities$1,706,031$2,377,434▲ $671,403
Unsecured Notes Loans Payable$1,423,694$2,299,481▲ $875,787
Accounts Payable and Accrued Expenses$805,913$581,654▼ $224,259
Deferred Revenue$9,630$2,830▼ $6,800
Total Liabilities$3,945,268$5,261,399▲ $1,316,131
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,851,474$22,172,388▲ $2,320,914
Total Net Assets Fund Balance$19,851,474$22,172,388▲ $2,320,914
Total Liabilities and Net Assets / Fund Balance$23,796,742$27,433,787▲ $3,637,045

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,540,724$7,295,237$11,835,961
Land$1,860,351-$1,860,351
Equipment$23,303$388,636$411,939
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph TaitSecretary/COOPT$320,000$105,000$320,000
Suzanne HurleyVice PresidentPT$145,776$16,198$145,776
Ayesha CodringtonDirector of FinancePT$62,112$75,914$138,026
Terri-Ann SmithSenior Lending DirectorFT$133,182-$133,182
Ericka Powell-SinclairSr. Compliance DirectorFT$130,451-$130,451
Christian DamibaProgram DirectorFT$111,900-$111,900
E Hamil DouglasPresidentPT$37,242$211,043$37,242

Board Members and Trustees

NameTitle
Sharon E JosephBoard Chair
Zevilla Jackson-PrestonVice Chair
Ashli GibbsBoard Director
Curtis ArcherBoard Director
Erik ChietteBoard Director
Lewiston MurrayBoard Director
Michael JohnsonBoard Director
Nathaniel MontgomeryBoard Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Ernest ImprovementConstruction/RenovationPO Box 622511, Bronx, NY 10462$510,465
WatsonRice LLPAudit and tax services31 West 34th Street Suite 7006, New York, NY 10001$105,268
Kelvin BowersCleaning Services3550 Bivona St Suite 5F, Bronx, NY 10475$104,505
Revenue and Support

Revenue Composition

Contributions and Grants
$4,009,237
Program Service Revenue
$2,354,518
Investment Income
$79,024
Other Revenue
$299,848
All Other Contributions
$508,228
Change in Net Assets
$2,022,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,380,460
Salaries, Compensation, and Employee Benefits$2,339,581
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$920,063$363,078-$1,283,141
Fees for Services Other$130,172$570,914-$701,086
Payroll Taxes$88,398$360,269-$448,667
Current Officers, Directors, Trustees, and Key Employees-$385,451-$385,451
Fees for Services Legal-$282,490-$282,490
Other Employee Benefits$72,066$119,793-$191,859
Office Expenses$64,531$108,554-$173,085
Depreciation Depletion-$159,086-$159,086
Fees for Services Accounting$3,210$142,449-$145,659
Occupancy$46,212$95,930-$142,142
Other Expenses$86,897$107,874-$86,897
Information Technology$16,408$64,083-$80,491
Insurance-$73,077-$73,077
Conferences and Meetings$9,000$48,045-$57,045
Interest-$50,075-$50,075
Travel$18,543$22,024-$40,567
Pension Plan Contributions$4,018$26,445-$30,463
Advertising-$19,995-$19,995
Total Functional Expenses$1,459,518$3,260,523$0$4,720,041
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
Due to Affiliate$1,769,310
Refundable Advance$451,363
Lease Liability$120,606
Due to Lessee$36,155
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“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, Section B, Line 12C

“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, Section B, Line 15A

“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, Section C, Line 19

“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
Sharon E Joseph
Title
President & CEO
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sharon E Joseph
Formed
1967
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
8
Employees
94
Volunteers
10

Preparer

Firm
WatsonRice LLP
Address
31 West 34th Street 7006, New York, NY 10001
Preparer
Baruti Bediako CPA
Phone
2124477300
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“HCCI and CLDC are nonprofit entities exempt from income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code. HCCI and CLDC have 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. HCCI and CLDC do not believe its financial statements include any uncertain tax positions.”

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IRS990/Form990PartVIISectionAGrp/PersonNm12Erik Chiette
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,433,787
Liabilities
$5,261,399
Net assets
$22,172,388
Revenue
$6,742,627
Expenses
$4,720,041
Net income
$2,022,586
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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
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