Commonwealth Local Development Corp CLDC

EIN: 132938457 501(c)(3)

New York, NY

Total Revenue
$1,795,718
Total Expenses
$1,647,042
Total Assets
$23,981,478
Net Assets
$22,059,471
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
NY
Principal Officer
Sharon E Joseph
Phone
2127490900
Tax Period
2024-07-01 to 2025-06-30

Commonwealth Local Development Corp CLDC, founded in 1977, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2024. Expenses of $1.6M left a modest 8% surplus.

Mission

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

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,753,450
Investment Income $42,268
Other Revenue $0
TOTAL REVENUE $1,795,718

Expense Breakdown

Grants Paid $0
Salaries & Benefits $400,000
Fundraising Expenses $0
Other Expenses $1,247,042
TOTAL EXPENSES $1,647,042

Year-over-Year Comparison

2024 2023 Change
Revenue $1,795,718 $1,800,974 0.0%
Expenses $1,647,042 $2,045,172 -0.2%
Net Income $148,676 $-244,198 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
6
Employees
N/A
Volunteers
10

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$370,609
Total Directors
7
$62,500
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
E Hamil Douglas President 10.00
Officer
$123,244 $0 $308,109
Ayesha Codrington Direct of Finance 10.00
$69,648 $0 $174,120
Terri-Ann Smith Senior Lending Dir 10.00
$36,452 $0 $145,807
Andre Simon Chief of Staff 10.00
$35,778 $0 $143,113
Joseph Tait Board Memb/COO 10.00
Officer Director
$31,250 $0 $62,500
Zevilla Jackson-Preston Board Chair 2.00
Officer Director
$0 $0 $0
Sharon E Joseph Vice Chair 2.00
Officer Director
$0 $0 $0
Erik Chiette Secretary 2.00
Officer Director
$0 $0 $0
Lewiston Murray Board Member 2.00
Director
$0 $0 $0
Curtis Archer Board Member 2.00
Director
$0 $0 $0
Ashli Gibbs Board Member 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,795,718 $1,647,042 $23,981,478 $148,676
2024 $1,800,974 $2,045,172 $23,866,180 $-244,198
2023 $1,247,682 $545,275 $14,754,330 $702,407
2022 $1,255,309 $521,175 $14,096,606 $734,134
2021 $1,171,417 $283,278 $13,512,087 $888,139
2020 $1,197,711 $1,563,928 $12,658,585 $-366,217
2019 $1,194,731 $936,683 $13,061,508 $258,048
2018 $1,170,604 $224,610 $13,107,157 $945,994
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