Commonwise Education Inc.

“Jeffrey hollender and sheila hollender have a family relationship.”

“A copy of the form 990 is sent to the president prior to submission to the internal revenue service.”

“Conflict of interest policy was adopted at board meeting by unanimous resolution dated may 24, 2011. All board members are required to complete an annual disclosure of any conflicts. To determine whether a conflict of interest exists, after disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The procedures of addressing the conflict of interest is as follows: (1) an interest person shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving possible conflict of interest. Any interested person shall not attempt to influence the board of directors regarding the conflict matter; (2) the chairperson of the governing board of committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement; (3) after exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest; and (4) if a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, form 990, form 1023, and by-laws are also available upon written request or by calling the organization directly.”

“The organization is organized exclusively for charitable, educational and/or scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code of 1986, as amended the "code")(or corresponding provision of any future united states internal revenue law), including in particular (i) to provide education and training to social enterprise and community development businesses, cooperatives and esops in topics such as democratic management, entrepreneurship, sustainability, fundraising and related topics; (ii) to develop and design these training and development services to be available both on-line and through in-person delivery; (iii) to work with universities and other educational institutions to develop these services; (iv) to apply for any and all required governmental approvals for any of the foregoing activities; and (v) to engage in any and all lawful activities incidental to and in pursuit of the foregoing purposes, except as restricted herein.”

“Commonwise education, inc. Is the fiscal sponsor for the bronx cooperative development initiative (bcdi), which was launched by bronx-based institutions, grassroots organizations and civic leaders in 2011. The mission of the bcdi is to end generational poverty in the bronx by building community wealth and ownership amongst residents and by instituting democratic planning and economic development processes throughout the borough. Bcdi's strategies include harnessing existing assets to address the borough's economic, social, and environmental challenges and to transform the bronx into a strong, inclusive, equitable, and sustainable economy. Throughout 2013, commonwise provided business and entrepreneurial development support to the initiative, including a development study of the bronx with mit's community innovators lab. Commonwise served as fiscal sponsor for the american sustainable business council (asbc). Asbc offers programs that educate and inform the public and policy makers about the benefits of a more sustainable economy, and about policies and practices that can help the economy become more sustainable. The council spans a growing network of business associations across the united states, which in turn represent over 200,000 businesses and 325,000 business executives, owners, investors, and others.”

“Consultants: program service expenses 37,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,000. Business analyst: program service expenses 94,556. Management and general expenses 0. Fundraising expenses 0. Total expenses 94,556. Other professional: program service expenses 15,567. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,567.”