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Nonprofiteer
← HARLEM COMMONWEALTH COUNCIL INC

Form 990 for tax year 2022

Filed by HARLEM COMMONWEALTH COUNCIL INC.

Totals

Total revenue
$1,247,682
Total expenses
$545,275
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,233,850
Investment income
$13,832
Other revenue
$0
Total assets, end of year
$14,754,330
Total liabilities, end of year
$2,008,090
Net assets or fund balances, end of year
$12,746,240
Program services expenses (Part IX)
$0
Management and general expenses
$545,275
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Econ. Dev. Prog. Rent

    total $1,201,650 · related or exempt $1,201,650

  • 2b · Program service revenue: Term Loan Interest

    total $32,200 · related or exempt $32,200

  • 3 · Investment income

    total $13,832 · excluded $13,832

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $105,601 · management and general $105,601

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $294,399 · management and general $294,399

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $7,155 · management and general $7,155

  • 11c · Fees: accounting

    total $6,140 · management and general $6,140

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $889 · management and general $889

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $30,000 · management and general $30,000

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $101,091 · management and general $101,091

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $926,257 · end of year $1,167,883

  • 2 · Savings and temporary cash investments

    end of year $996,592

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $60,815 · end of year $54,114

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $11,031,441

  • 10c · Land, buildings and equipment, net

    beginning of year $11,031,441 · end of year $11,031,441

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $1,868,367 · end of year $1,500,000

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $209,726 · end of year $4,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,520 · end of year $6,905

  • 25 · Other liabilities

    beginning of year $2,044,844 · end of year $2,001,185

  • 27 · Net assets without donor restrictions

    beginning of year $12,047,242 · end of year $12,746,240

Mission and programs · 2022

Mission

To stimulate overall economic development of the Harlem Community through the creation of enterprises, generation of jobs and improvement of services.

Activities or mission (Part I)

Local development Corp (LDC) - Community Economic Development projects benefiting the general public.

  • 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.

As filed on the 2022 return.

Listed in Part VII

  • E Hamil Douglas

    President & CEO

    Total calculated
    $220,627
    From this org
    $70,601
    From related orgs
    $150,026
    Other
    $0
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $70,601 + $150,026 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $70,601 + $150,026 related

  • Suzanne Hurley

    Vice President

    Total calculated
    $161,627
    From this org
    $32,325
    From related orgs
    $129,302
    Other
    $0
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $32,325 + $129,302 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $32,325 + $129,302 related

  • Ayesha Codrington

    Dir of Finance

    Total calculated
    $111,407
    From this org
    $33,422
    From related orgs
    $77,985
    Other
    $0
    Hours/week
    10 + 30 related

  • Joseph L Tait

    COO

    Total calculated
    $100,000
    From this org
    $35,000
    From related orgs
    $65,000
    Other
    $0
    Hours/week
    10 + 30 related

  • Michelle Hardy

    Chair

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Robert Horsford

    Board Member

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Anthony D Watson

    Board Member

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Richard Shaw

    Board Member

    Total calculated
    $0
    Hours/week
    2 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Commonwealth Holding Co Inc

    C Corp · Holding company · NY

    Directly controlled by Harlem Commonwealth

  • Commonwealth Industrial Parks Inc

    C Corp · Manages Econ Dev. Project · NY

    Directly controlled by Commonwealth Holding

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202441369349314424

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