Commonwise Education Inc

Analysis

Commonwise Education Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Commonwise Education Inc reported income of $653k and spending of $924k, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $786k to $653k (-17%), an average of -4.5% a year. The sharpest change came in the year to December 2020, when income rose by 122%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Commonwise Education Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Employee Ownership Expansion Network ($653k), Empowerment Zone Coalition ($653k) and Green Mountain Childrens Center ($652k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 6.4% of the total. Compensation of current officers, directors and key employees was $52k (5.6% of expenses). Other salaries and wages came to $484k. It paid $3,375 in professional fundraising fees. At year end it held assets of $530k against liabilities of $34k, net assets of $496k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.