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Passes our checks

Commonwise Education Inc

EIN 45-2201993 · Bronx, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak25 out of 100GovernanceGood79 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Only 43% of its spending went to programs.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

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.

Income
$314,772
Spending
$625,235
Spent on programs
43%
Reserves
3.6 months of spending
Largest source of income
donations and private grants, 99%
Employees
7
Volunteers
47
Highest pay
$30,769, executive dir.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 25 out of 100. Higher than 3% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.6 months of spending.

  • Debt

    5 of 20

    It owes 61% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 99% of income.

  • Income trend

    0 of 15

    Income fell 52% on the year before.

  • Spending floor

    0 of 15

    43% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 79 out of 100. Higher than 55% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $267,438 spent. In 2024 BCDI core work was supporting the advancement of a Bronxwide economic development plan grounded in our values of economic democracy and racial justice. In 2024 our coalition moved from planning to our first year of advocacy for implementation of our priority projects. BCDI supported the development of the Sustainable Economy Partnership (SEP). The SEP is a multi-million dollar borough-wide initiative to advance environmental resilience, small business, and workforce development in connection with necessary retrofits of our aging and neglected built environment. We also continued to work on securing the future of our planning work by initiating a partnership with the Bronx Economic Development Corporation (BXEDC) to pursue a Comprehensive Economic Development Strategy (CEDS) grant from the Federal Economic Development Administration. Our successful application for this two year grant allows us to broaden our reach and validate our years of community-led work by having the first Bronxwide economic development plan arise from our multi-year efforts. In 2024, the BronXchange continued the work as a network and service platform that leverages Bronx institutional buying power to build shared wealth. We connected worker cooperatives and other high-road local businesses to new market opportunities and resources, advancing equitable and sustainable procurement across the borough. We continued our services to include front- and back-office services such as marketing, bookkeeping, strategic planning, and web support helping small businesses strengthen operations and adopt equitable practices. By redirecting institutional purchasing and providing targeted technical and financial assistance, we helped scale the impact of worker cooperatives. We also supported ten Bronx-based small business owners in preparing for contracts and capital opportunities through customized research, marketing consulting, and compliance assistance positioning them for long-term growth and impact.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 2011.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.