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CIVIC 411 WALES CORPORATION
NEW YORK, NY · EIN 822312084 · Form 990 · FY2024 · NTEE L21 · Housing & Shelter · Medium ($1M-$10M)
revenue
$2.8M
expenses
$3.7M
net assets
$-1.2M
employees
0
volunteers
12
program ratio
99%
mission · from form 990

THE CORPORATION WAS FORMED AS A 501(C)(3) ORGANIZATION FOR THE PURPOSE OF FURTHERING THE CHARITABLE PURPOSES OF CIVIC BUILDERS, INC., A 501(C)(3) ORGANIZATION THAT PROVIDES TURN-KEY SOLUTIONS FOR CHARTER SCHOOL REAL ESTATE NEEDS. SPECIFICALLY, THIS CORPORATION WAS FORMED TO SECURE FINANCING, MAKE AN INVESTMENT, LEASE, RENOVATE, AND SUBLEASE A CHARTER SCHOOL BUILDING LOCATED AT 411 WALES AVENUE, BRONX, NY. RENOVATION WAS COMPLETED AND THE CHARTER SCHOOL SUBTENANTS TOOK OCCUPANCY IN AUGUST 2019.

profile · synthesized from sources

CIVIC 411 WALES CORPORATION is a nonprofit entity established to support the real estate needs of charter schools by securing financing, renovating, and subleasing a school facility at 411 Wales Avenue in the Bronx, New York. It was formed to further the charitable purposes of Civic Builders, Inc., focusing on providing turn-key real estate solutions for charter school operations. The building renovation was completed and occupied by charter school subtenants in August 2019.

named programs · 1 · from sources

What they call their work

Charter School Facility Development
Acquired, renovated, and subleased the building at 411 Wales Avenue, Bronx, NY, to support charter school operations
activities · 1 group

What they do

  • Charter School Facilities Support 1 activity
    • Renovating and subleasing facilities for a charter school
      Secured financing, renovated, and subleased a charter school building located at 411 Wales Avenue, Bronx, NY, with renovation completed and occupancy achieved in August 2019.
financials · form 990 · fy2024
revenue
Total revenue$2.76M
Contributions & grants$00%
Program service revenue$2.72M99%
Investment income$39K1%
Other revenue$0
expenses
Total expenses$3.74M
Program expenses99%
Admin / overhead1%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$42.03M
Cash$1.45M
Investments$0
Liabilities$43.21M
Net assets$-1.18M
Liquid reserves4.7 mo
5 years on record · 2020–2024 · YoY revenue -16.6%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
DAVID UMANSKY PRESIDENT 1 $560K
board members · 12
  • ALAN SAGE — DIRECTOR
  • DAVID LOO — VICE CHAIR & TREASURER
  • GENGER CHARLES — DIRECTOR
  • KAHENA JOUBERT — DIRECTOR
  • KEITH RAND — DIRECTOR
  • KHARY BARNES — SECRETARY
  • PAUL WASSERMAN — DIRECTOR
  • RON BEIT — DIRECTOR
  • SHERMAN WHITES — DIRECTOR
  • SIMONE BRODY — CHAIRPERSON
  • SUSIE MILLER CARELLO — DIRECTOR
  • VIPUL TANDON — DIRECTOR
relationships · 1

Who they work with

  • Civic Builders, Inc. Network — Parent organization whose charitable purposes the corporation was formed to further.