Corenet Global Inc
- Assets
- $1.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2014
- Data as of
- 03/2024
- EIN
- 45-5051907
Organization Overview
Corenet Global Inc is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Corenet Global Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 03/2024, Corenet Global Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.9m during the year ending 03/2024. While expenses have increased by 1.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Corenet Global Inc has awarded 18 individual grants totaling $210,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
CHAPTER FOCUSED ON EDUCATION AND PROVIDING A FORUM FOR CORPORATE REAL ESTATE EXECUTIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 OF TRENDS IN THE REAL ESTATE INDUSTRY AND SHARING BEST PRACTICES. EACH PROGRAM IS ATTENDED BY 100 TO 150 MEMBERS AND NON-MEMBERS.SPECIAL INTEREST GROUPS (SIGS): INDUSTRY (LAW, COMMUNICATIONS AND FINANCIAL INDUSTRIES), WOMAN OR YOUNG LEADER ( UNDER 35). THESE SUBSETS ALSO HOLD QUARTERLY EDUCATIONAL PROGRAMS AND ARE ANOTHER FORUM FOR MEMBERS TO BECOME MORE ENGAGED WITH THE LOCAL CHAPTER AND LEARN ABOUT CURRENT TRENDS AND INDUSTRY SPECIFIC BEST PRACTICES. ALTHOUGH THESE GROUPS WERE FORMED AS SEGMENTS, THEY ARE ALL INCLUSIVE.COMMUNITIES: COMMUNITIES ARE SMALLER TOPICAL GROUPS THAT GATHER AROUND AN INDUSTRY OR INTEREST - SUCH AS SUSTAINABILITY, STRATEGIC PORTFOLIO PLANNING. COMMUNITIES HOLD QUARTERLY EDUCATIONAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Charlip Chair | OfficerTrustee | 5 | $0 |
Mindy Williams-Mcelearney President | OfficerTrustee | 5 | $0 |
Christian Bryan Vice President | OfficerTrustee | 5 | $0 |
Steven Wong Treasurer | OfficerTrustee | 5 | $0 |
Sandra Yencho Secretary | OfficerTrustee | 5 | $0 |
Margaux Jaffa Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
10 South Street Banquet Operator Llc Event Space | 3/30/24 | $602,916 |
The Berman Group Administrative Services | 3/30/24 | $161,501 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,882,453 |
| Investment income | $33 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,892,931 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $190,593 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,067 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,333 |
| Advertising and promotion | $118,652 |
| Office expenses | $1,321 |
| Information technology | $10,714 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,604 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,407,247 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $7,639 |
| Total functional expenses | $1,886,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $692,141 |
| Savings and temporary cash investments | $166,771 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $254,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,113,412 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,436 |
| Total liabilities | $66,436 |
| Net assets without donor restrictions | $1,046,976 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,113,412 |
Grants Awarded
Over the last fiscal year, Corenet Global Inc has awarded $44,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
PRATT INSTITUTE PURPOSE: SUPPORT | $6,000 |
TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK PURPOSE: SUPPORT | $6,000 |
NEW YORK UNIVERSITY PURPOSE: SUPPORT | $6,000 |
CORE NEW YORK LEADERSHIP CENTER PURPOSE: SUPPORT | $20,000 |
FORDHAM UNIVERSITY PURPOSE: SUPPORT | $6,000 |