2024-05-15T13:53:58-07:00 2023-06-30 261726741 WatsonRice LLP 31 West 34th Street 7006 New York NY 10001 990 2022-07-01 132938457 Commonwealth Local Development Corp COMM 2127490900 361 West 125th Street New York NY 10027 E Hamil Douglas President & CEO 2024-05-15 true E Hamil Douglas 999009999 true Baruti Bediako CPA P00740658 2124477300 3 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z E Hamil Douglas 361 West 125th Street New York NY 10027 1247682 false 8065 X www.harlemcommonwealth.org X 1977 NY Local development Corp (LDC) - Community Economic Development projects benefiting the general public. 5 4 0 10 0 0 1222549 1233850 15000 13832 17760 0 1255309 1247682 0 0 375000 400000 0 0 146175 145275 521175 545275 734134 702407 14096606 14754330 2049364 2008090 12047242 12746240 To stimulate overall economic development of the Harlem Community through the creation of enterprises, generation of jobs and improvement of services. false false 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. true false false false false false false false false false true false true false true true false true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 2 0 true 0 false false false false false false false 0 false false false false false false false X 5 4 false false false false false true true true false false false true true true true true true true true false NY X Ayesha Codrington 2127490900 361 West 125th Street New York NY 10027 E Hamil Douglas President & CEO 10.00 30.00 X 70601 150026 0 Suzanne Hurley Vice President 8.00 32.00 32325 129302 0 Ayesha Codrington Dir of Finance 10.00 30.00 33422 77985 0 Joseph L Tait COO 10.00 30.00 X X 35000 65000 0 Michelle Hardy Chair 2.00 1.00 X X 0 0 0 Robert Horsford Board Member 2.00 1.00 X 0 0 0 Anthony D Watson Board Member 2.00 2.00 X 0 0 0 Richard Shaw Board Member 2.00 1.00 X 0 0 0 171348 422313 0 false true false 0 0 Econ. Dev. Prog. Rent 531120 1201650 1201650 Term Loan Interest 900099 32200 32200 1233850 13832 13832 0 0 0 0 0 0 0 0 1247682 1233850 13832 0 0 0 0 105601 105601 0 294399 294399 0 0 0 0 7155 7155 6140 6140 0 0 0 0 0 889 889 0 0 30000 30000 0 0 0 101091 101091 0 0 0 0 545275 0 545275 0 926257 1167883 996592 0 60815 54114 0 0 0 0 0 11031441 11031441 11031441 0 0 1868367 1500000 0 209726 4300 14096606 14754330 4520 6905 2044844 2001185 2049364 2008090 X 12047242 12746240 12047242 12746240 14096606 14754330 702407 -3409 X false true X true false X X 1 Harlem Commonwealth Council Inc 136271908 10 false 0 0 1 0 true false false false false false false false false false false false false false false true false 11031441 11031441 11031441 1500000 Due to Affiliates 1295 Mortgage Payable - Affiliate 1999890 2001185 X 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. false false false false false false false false false E Hamil Douglas President & CEO 70601 150026 70601 150026 Suzanne Hurley Vice President 32325 129302 32325 129302 Form 990, Part VI, Section A, Line 7a Directors of Commonwealth Local Development Corporation (CLDC) are appointed by the Harlem Commonwealth Council, Inc the sole member of CLDC. Form 990, Part VI, Section A, Line 7b Directors of the Commonwealth Local Development Corp. may be removed without cause by its member. Form 990, Part VI, Section B, Line 11b Form 990 is prepared with direct input from the Director of Finance. The Form 990 is distributed to each board member and reviewed by the audit committee before filing. An analytical tool (review checklist) is included with the member's copy of the Form 990 to assist in understanding the purpose and content of each part and section of the Form 990. 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 key employees. Compliance is monitored through internal control procedures on an ongoing basis by the CFO and President. Restrictions are imposed on the voting rights of board members or the President where participation in 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, compensation and finance committee of the Harlem Commonwealth Council, Inc. (HCCI). HCCI 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. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflicts of interest policies 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 organization central website. Form 990, IX, Line, 5, 7, and 10 The organization does not have employees. The compensation, salaries and wages, and payroll taxes reported on Lines 5, 7 and 10 are allocations from Harlem Commonwealth Council, Inc., Commonwealth Industrial Parks, Inc., and Commonwealth Holding Co., Inc., which are all related organizations. Harlem Commonwealth Council Inc 361 West 125th Street New York NY 10027 136271908 developing,operat'g & leasing properties NY 501(c)(3) 9 N/A false Commonwealth Holding Co Inc 361 West 125th Street New York NY 10027 132688150 Holding company NY Harlem Commonwealth C Corp false Commonwealth Industrial Parks Inc 361 West 125th Street New York NY 10027 133015188 Manages Econ Dev. Project NY Commonwealth Holding C Corp false false false false false false false false false false false false false false true true true false false false