Commonwise Education Inc
- Assets
- $784.2k
- Revenue
- $932.4k
- Investments
- $0.0
- Employees
- 30
- Location
- Bronx, NY
- Founding
- 09/2011
- Data as of
- 12/2021
- EIN
- 45-2201993
Organization Overview
Commonwise Education Inc is located in Bronx, NY. The organization was established in 2011. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Commonwise Education Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwise Education Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Commonwise Education Inc generated $932.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 20.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION COORDINATES THE PEOPLE, BUSINESSES AND INSTITUTIONS OF THE BRONX TO DEVELOP SHARED WEALTH AND OWNERSHIP AND SUPPORTS LOW INCOME PEOPLE OF COLOR IN THE DECISION MAKING PROCESS AT EVERY STEP. THIS NETWORK OF STAKEHOLDERS,IS KNOWN AS THE BRONX COOPERATIVE DEVELOPMENT INITIATIVE (BCDI). BASED ON A FRAMEWORK OF ECONOMIC DEMOCRACY, BCDI LEVERAGES EXISTING BRONX ASSETS TO ADDRESS ECONOMIC, SOCIAL, AND ENVIRONMENTAL CHALLENGES WITHIN THE BOROUGH, AND SUPPORTS COLLECTIVE OWNERSHIP MODELS IN ORDER TO DISTRIBUTE WEALTH AND DECISION-MAKING EQUITABLY AND BROADLY AMONG BRONX RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR PLANNING AND POLICY LAB COORDINATED A COALITION OF TWELVE ORGANIZATIONS TO CO-CREATE A MUNICIPAL PLATFORM THAT WAS ENDORSED BY OVER 30 GROUPS. THE COALITIONS FIRST BRONX PEOPLES FESTIVAL HAD ALMOST 200 ATTENDEES LEARNED MORE ABOUT OUR WORK, THE 2021 PLATFORM, AND THE ONGOING PROCESS OF CREATING A BRONX-WIDE ECONOMIC DEVELOPMENT PLAN.THE INNOVATION FACTORY PARTNERED WITH ADIDAS TO CELEBRATE BLACK ENTREPRENEURS THAT WORK IN THE BRONX WITH OUR ORGANIZATION. ATTENDEES OF THE CAMPAIGNS FALL 2021 ACTIVATION MET LOCAL BUSINESS OWNERS IN FOOD AND FASHION, AS WELL AS ELECTED OFFICIALS.THE ECONOMIC DEMOCRACY LEARNING CENTER RELEASED A COMMUNITY PLANNING FIELD GUIDE, AS A NON-COST, DIGITAL ACCESSIBLE TOOL FOR COMMUNITY GROUPS AND OTHER STAKEHOLDERS INTERESTED IN PARTICIPATORY URBAN PLANNING. WE ALSO RAN A PARTICIPATORY ACTION RESEARCH PROJECT WITH BRONX ORGANIZATIONS AND PUBLIC HIGH SCHOOLS, TO CO-DESIGN THE CURRICULUM AND PROGRAM STRUCTURE FOR A MULTI-SCHOOL TRAINING PROGRAM IN URBAN PLANNING AND PARTICIPATORY POLICY MAKING. FOR POPULAR EDUCATION, THE CENTER DESIGNED AND FACILITATED A MULTI-WEEK BOOK CLUB WITH PARTICIPANTS WHO LIVE, WORK, AND ARE FROM THE BRONX.THE BRONXCHANGE LAUNCHED BECON: A BUSINESS NAVIGATOR DESIGNED TO ACCELERATE THE ECONOMIC RECOVERY FROM COVID AND EXPAND OPPORTUNITIES AT SCALE THROUGH AGGREGATING AND VETTING AVAILABLE RESOURCES THAT SUPPORT BRONX SMALL BUSINESSES. OUR STAFF PROVIDED OFFERINGS OF TECHNICAL ASSISTANCE AND EDUCATIONAL SERVICES TO STAKEHOLDERS IN THE WORKER COOPERATIVES ECOSYSTEM, WITH RESOURCES BEING FILTERED THROUGH BECON. WE ALSO CONVENED OUR BRONX ANCHOR COUNCIL.IN 2021, OUR ORGANIZATION MADE IMPORTANT PROGRESS TOWARDS THE MISSION OF ADVANCING ECONOMIC DEMOCRACY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Partis Executive Dir. | Officer | 40 | $92,077 |
Wendoly Marte President | OfficerTrustee | 0.25 | $0 |
Sandra Lobo Vice President | OfficerTrustee | 0.25 | $0 |
Katiuska Lopez Treasurer | OfficerTrustee | 0.25 | $0 |
Allison Manuel Secretary | OfficerTrustee | 0.25 | $0 |
Daniel White Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $355,673 |
| All other contributions, gifts, grants, and similar amounts not included above | $534,190 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $889,863 |
| Total Program Service Revenue | $40,220 |
| Investment income | $2,272 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $932,355 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $92,077 |
| Compensation of current officers, directors, key employees. | $92,077 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $636,303 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95,479 |
| Payroll taxes | $58,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35 |
| Fees for services: Accounting | $55,663 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $240,665 |
| Advertising and promotion | $0 |
| Office expenses | $79,154 |
| Information technology | $7,500 |
| Royalties | $0 |
| Occupancy | $36,000 |
| Travel | $4,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,980 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,908 |
| Insurance | $8,919 |
| All other expenses | $0 |
| Total functional expenses | $1,327,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,772 |
| Savings and temporary cash investments | $399,400 |
| Pledges and grants receivable | $365,000 |
| Accounts receivable, net | $3,300 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,170 |
| Net Land, buildings, and equipment | $524 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $784,166 |
| Accounts payable and accrued expenses | $52,509 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $119,652 |
| Other liabilities | $0 |
| Total liabilities | $172,161 |
| Net assets without donor restrictions | $254,292 |
| Net assets with donor restrictions | $357,713 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $784,166 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Commonwise Education Inc has recieved totaling $359,660.
| Awarding Organization | Amount |
|---|---|
Kendeda Fund Wilmington, DE PURPOSE: BRONX COOPERATIVE DEVELOPMENT INITIATIVE | $300,000 |
Ford Foundation New York, NY PURPOSE: CORE SUPPORT FOR THE BRONX COOPERATIVE DEVELOPMENT INITIATIVE TO LEVERAGE ASSETS TO BUILD COLLECTIVE OWNERSHIP AND WEALTH AT SCALE FOR LOW-INCOME COMMUNITIES OF COLOR IN THE BRONX | $37,500 |
Business Outreach Center Network Inc Brooklyn, NY PURPOSE: Ascend NY program | $22,160 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Center For Civic Innovation Inc New York, NY | $21,208,939 | $12,582,443 |
Masschallenge Boston, MA | $11,733,602 | $12,993,021 |
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Entrepreneurship For All Inc Lowell, MA | $9,819,862 | $9,183,052 |
Trenton Business Assistance Corporation Mercerville, NJ | $91,160,866 | $14,574,637 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Commonwealth Kitchen Inc Dorchester, MA | $6,037,148 | $6,037,848 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |