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Corenet Global INC FY2022 filing

Not tax-deductible

New York, NY501(c)(6)Community Development EIN 45-5051907Revenue $1.0M in FY2022

On file with the IRSnewyorkcity.corenetglobal.org380 Lexington Ave Rm 5105, 10168-4703 · New York, NYTax-exempt since Aug 2014

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Chapter focused on education and providing a forum for corporate real estate executives

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $5K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+133% vs prior year
Spent
$1.0M
Net assets
$630K
By yearFY2020–FY2025
Revenue
$1.0M
FY2022▲ +133%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$439K
FY2022$1.0M
FY2023$1.4M
FY2024$1.9M
FY2025$1.7M
Expenses
$1.0M
FY2022▲ +153%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$407K
FY2022$1.0M
FY2023$956K
FY2024$1.9M
FY2025$1.8M
Net assets
$630K
FY2022▲ +0.5%
Tap a bar for its year
Net assets by fiscal year
FY2020$568K
FY2021$627K
FY2022$630K
FY2023$1.0M
FY2024$1.0M
FY2025$983K

From the FY2022 Form 990 (year ending March 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Charlip
Vice President
$0Pt VII · Sec A
Frank Cuevas
Treasurer
$0Pt VII · Sec A
Sarah Brown
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Corenet Global INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates corporate real estate executives and provides a forum for them.

Questions for Corenet Global INC

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Provided by the organization

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1 program · in their own filed words · FY2021
01

The organization held several events for its members. The main event included an annual dinner which produced a combined attendance of over 700 guests. Other smaller events throughout the fiscal year including programs which are held quarterly and are designed to present industry topics that are current in nature and promote discussions…

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Carpenter Contractor Alliance of Metropolitan New York INCFY2020$7K
Total grants receivedfrom 1 funder$7K
Grants paid · 5 grants · $44K · 2019–2019
Coro New York Leadership CenterNY · FY2019$20,000
Fordham UniversityNY · FY2019$6,000
New York UniversityNY · FY2019$6,000
The Trustees of Columbia University in the City of New YorkNY · FY2019$6,000
Pratt InstituteNY · FY2019$6,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$990K
Other incomeLn 4–11$27K
Investment incomeLn 3$7K
Money outPt IX
$1.0M
Ln 25
Owns and owesPt X
$630K
net assets · Ln 32
Cash and savingsLn 1–2$375K
Total assetsLn 16$630K
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$990K
Investment incomeLn 3$7K
Other incomeLn 4–11$27K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$358K
SavingsLn 2$17K
Cash and savings togetherLn 1–2$375K
InvestmentsLn 11–13$255K
Total assetsLn 16$630K
LiabilitiesLn 26$0
Net assetsLn 32$630K
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$336K$375K
InvestmentsLn 11–13$310K$255K
Total assetsLn 16$646K$630K
LiabilitiesLn 26$19K$0
Net assetsLn 32$627K$630K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$154K
Other fees for servicesLn 11g$103K
Advertising and promotionLn 12$72K
Office expensesLn 13$13K
Information technologyLn 14$2K
TravelLn 17$748
Conferences, conventions and meetingsLn 19$673K
Other expenses (24a–d)Ln 24$11K
Total functional expensesLn 25$1.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.7M$1.8M−$64K$983K 990 PDF
FY2024 $1.9M$1.9M$7K$1.0M 990 PDF
FY2023 $1.4M$956K$410K$1.0M 990 PDF
FY2022 Viewing $1.0M$1.0M−$3K$630K 990 PDF
FY2021 $439K$407K$32K$627K 990 PDF
FY2020 $1.3M$1.7M−$413K$568K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $1,024,304 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $424,049$990,293
I-10 Investment incomePrior year $14,640$6,693
I-11 Other revenuePrior year $0$27,318
I-12 Total revenuePrior year $438,689$1,024,304
I-13 Grants and similar amounts paidPrior year $6,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $400,656$1,027,515
I-18 Total expensesPrior year $406,656$1,027,515
I-19 Revenue less expensesPrior year $32,033−$3,211
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,024,304 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $990,293$990,293
VIII-3 Investment incomeExcluded from tax $6,693$6,693
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $27,318$27,318
VIII-12 Total revenueRelated to mission $1,017,611 · Unrelated business $0 · Excluded from tax $6,693$1,024,304
Part IX · Statement of functional expenses $1,027,515 across 8 lines filed
IX-11a Management fees$154,000
IX-11g Other fees for services$102,577
IX-12 Advertising and promotion$71,797
IX-13 Office expenses$12,580
IX-14 Information technology$1,794
IX-17 Travel$748
IX-19 Conferences, conventions and meetings$672,863
IX-24 Other expenses (24a–d)$11,156
IX-25 Total functional expenses$1,027,515
Part X · Balance sheet $630,160 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $316,161$358,149
X-2 Savings and temporary cash investmentsStart of year $20,011$16,712
X-11 Publicly traded securitiesStart of year $309,611$255,299
X-16 Total assetsStart of year $645,783$630,160
X-17 Accounts payable and accrued expensesStart of year $16,272$0
X-19 Deferred revenueStart of year $2,500$0
X-26 Total liabilitiesStart of year $18,772$0
X-27 Net assets without donor restrictionsStart of year $627,011$630,160
X-32 Total net assets or fund balancesStart of year $627,011$630,160
X-33 Total liabilities and net assetsStart of year $645,783$630,160
Part XI · Reconciliation of net assets $630,160 net assets at year end
XI-1 Total revenue$1,024,304
XI-2 Total expenses$1,027,515
XI-3 Revenue less expenses−$3,211
XI-4 Net assets at start of year$627,011
XI-5 Net unrealized gains (losses) on investments$6,360
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$630,160

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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