Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1987.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
91 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
7 people listed on the 990; $56K paid to officers and key staff (Part VII, Section A).
Pat Rosenthal’s $32K as Executive Director is at the 16th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Pat Rosenthal | $32,304 | $31,062 | $23,607 | $26,092 | $35,783 |
| James Converse | $23,995 | $23,995 | $21,226 | $22,149 | $23,072 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Common Wealth INC executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Empowers democratic businesses with education, technical help, and support to create jobs and boost local economies.
Questions for Common Wealth INC
Your first name shows with your question. Common Wealth INC answers here, for everyone.
Provide education, technical assistance, and organizational development assistance to low income individuals and groups to solve problems of poverty and to help job and housing creation in an effort to provide decent housing that is affordable to low and moderate income people; to support efforts for low income housing development and…
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 34-1517533) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.4M | $947K |
| InvestmentsLn 11–13 | $1.2M | $1.2M |
| Land, buildings, equipmentLn 10c | $916K | $826K |
| Total assetsLn 16 | $10.1M | $9.9M |
| LiabilitiesLn 26 | $215K | $296K |
| Net assetsLn 32 | $9.9M | $9.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $56K | $34K | $22K | $563 |
| Other salaries and wagesLn 7 | $111K | $99K | $12K | |
| Other employee benefitsLn 9 | $2K | $2K | $504 | $8 |
| Payroll taxesLn 10 | $13K | $11K | $3K | $46 |
| Advertising and promotionLn 12 | $219 | $219 | ||
| Office expensesLn 13 | $6K | $6K | ||
| OccupancyLn 16 | $103K | $103K | ||
| Depreciation, depletion and amortizationLn 22 | $90K | $90K | ||
| InsuranceLn 23 | $13K | $13K | ||
| Other expenses (24a–d)Ln 24 | $101K | $94K | $8K | |
| All other expensesLn 24e | $7K | $6K | $1K | |
| Total functional expensesLn 25 | $504K | $456K | $47K | $617 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 12, 2025 | $208K | $504K | −$296K | $9.6M | 990 PDF |
| FY2023Filed with the IRS Nov 15, 2024 | $730K | $556K | $174K | $9.9M | 990 PDF |
| FY2022Filed with the IRS Nov 10, 2023 | $970K | $526K | $443K | $9.7M | 990 PDF |
| FY2021Filed with the IRS Nov 14, 2022 | $392K | $497K | −$104K | $9.3M | 990 PDF |
| FY2020Filed with the IRS Nov 12, 2021 | $471K | $601K | −$130K | $9.4M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $208,039 revenue, 12 lines filed
Part VI · Governance 5 of 6 board members independent, 3 to look at
Part VIII · Statement of revenue $208,039 across 6 lines filed
Part IX · Statement of functional expenses $503,596 across 11 lines filed
Part X · Balance sheet $9,910,672 assets, 16 lines filed
Part XI · Reconciliation of net assets $9,614,245 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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