Civic Intelligence

Common Wealth Revolving Loan Fund

EIN 34-1517534 • 501(c)3 • Youngstown, OH

Profile

Common wealth revolving loan fund (cwrlf), founded in 1987, is a non-profit community development financial institution whose purpose is to lend money to employee-owned companies or co-ops for expansion, facilities, machinery and equipment, vehicles, and working capital or for employee-buyouts. Cwrlf serves borrowers located in ohio and the nearby areas of contiguous states. The oeoc has been administering the loan fund since 2004.

4319 Belmont AveYoungstown, OH 44505

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.14x

Higher debt load relative to assets than 71% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

3.15x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

51st percentile

4.9%

Higher net margin than 51% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

77th percentile

22%

Faster asset growth than 77% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

13th percentile

-29%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$515,747

Up $92,163 (+22%) from 2017

Liabilities

Down

$70,331

Down $8,089 (-10%) from 2017

Net Assets

Up

$445,416

Up $100,252 (+29%) from 2017

Operations
Liabilities / Revenue96th percentileNet Margin51st percentile

Revenue

Down

$22,329

Down $9,174 (-29%) from 2017

Expenses

Up

$21,243

Up $19,607 (+1198%) from 2017

Net Income

Down

$1,086

Down $28,781 (-96%) from 2017

Trend Graphs

Balance Sheet Trend

Asset Growth77th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,968,179Liabilities 2011: $1,224,701Net Assets 2011: $743,4782011Assets 2012: $1,884,204Liabilities 2012: $1,161,141Net Assets 2012: $723,0632012Assets 2013: $1,678,374Liabilities 2013: $1,176,898Net Assets 2013: $501,4762013Assets 2014: $1,250,848Liabilities 2014: $748,840Net Assets 2014: $502,0082014Assets 2015: $797,224Liabilities 2015: $423,878Net Assets 2015: $373,3462015Assets 2016: $738,070Liabilities 2016: $422,773Net Assets 2016: $315,2972016Assets 2017: $423,584Liabilities 2017: $78,420Net Assets 2017: $345,1642017Assets 2018: $515,747Liabilities 2018: $70,331Net Assets 2018: $445,4162018

Highlighted filing

2018

Assets$515,747
Liabilities$70,331
Net Assets$445,416
Open 2018 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$100K$0-$100K-$200KExpenses 2011: $125,2162011Expenses 2012: $140,0842012Revenue 2013: $39,804Expenses 2013: $187,263Net Income 2013: -$147,4592013Revenue 2014: $41,323Expenses 2014: $40,791Net Income 2014: $5322014Revenue 2015: $37,283Expenses 2015: $165,945Net Income 2015: -$128,6622015Revenue 2016: $36,250Expenses 2016: $94,299Net Income 2016: -$58,0492016Revenue 2017: $31,503Expenses 2017: $1,636Net Income 2017: $29,8672017Revenue 2018: $22,329Expenses 2018: $21,243Net Income 2018: $1,0862018

Highlighted filing

2018

Revenue$22,329
Expenses$21,243
Net Income$1,086
Open 2018 Filing

Filings

Most recent year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$515,747
Liabilities
$70,331
Net assets
$445,416
Revenue
$22,329
Expenses
$21,243
Net income
$1,086
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.52$0.07$0.45$0.02$0.02$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.42$0.08$0.35$0.03$0.00$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.74$0.42$0.32$0.04$0.09$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.80$0.42$0.37$0.04$0.17$0.13
2014Detailed filing. Detailed filing data is available for this year.$1.25$0.75$0.50$0.04$0.04$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.68$1.18$0.50$0.04$0.19$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$1.16$0.72$0.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.97$1.22$0.74$0.13
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$22,329
Mission and Program Overview

Mission

Common wealth revolving loan fund (cwrlf), founded in 1987, is a non-profit community development financial institution whose purpose is to lend money to employee-owned companies or co-ops for expansion, facilities, machinery and equipment, vehicles, and working capital or for employee-buyouts. Cwrlf serves borrowers located in ohio and the nearby areas of contiguous states. The oeoc has been administering the loan fund since 2004.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$373,297$426,660▲ $53,363
Other Notes and Loans Receivable, Net$32,705$87,602▲ $54,897
Accounts Receivable$17,582$1,485▼ $16,097
Total Assets$423,584$515,747▲ $92,163
Liabilities
Mortgage Notes Payable Secured by Investment Property$69,489$69,987▲ $498
Accounts Payable and Accrued Expenses$8,931$344▼ $8,587
Total Liabilities$78,420$70,331▼ $8,089
Net Assets / Fund Balance
Unrestricted Net Assets$345,164$445,416▲ $100,252
Total Net Assets Fund Balance$345,164$445,416▲ $100,252
Total Liabilities and Net Assets / Fund Balance$423,584$515,747▲ $92,163
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Kate CullumPresident
Roy MessingLoan Coordin
James ConverseSecretary
Paris KriechTreasurer
Brian CorbinVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,277
Investment Income
$21,052
Other Revenue
$0
Change in Net Assets
$1,086
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,243
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$12,797--$12,797
Fees for Services Accounting-$5,800-$5,800
Travel$467--$467
Interest$299--$299
Office Expenses$136--$136
Other Expenses$450$40-$40
Total Functional Expenses$15,403$5,840$0$21,243
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Effective january 1, 2008, the organization entered into a contract with ohio employee ownership center ("oeoc") for administrative activities, management services, and support activities. The agreement automatically renews every four years. The agreement provides for fees to be determined based on a defined formula. Oeoc is located at kent state university.”

Form 990, Page 6, Part VI, Line 11B

“An independent cpa prepares the form 990. After review by the loan coordinator, the form 990 to board members prior to filing the return.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest statements are reviewed at board meetings. Each new member is notified about the procedure and conpletes a conflict of interest form.”

Form 990, Page 6, Part VI, Line 19

“Bylaws and governing documents, and the conflict of interest policy are available at organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Common Wealth Revolving Loan Fund
EIN
34-1517534
Phone
3307593668
Address
4319 BELMONT AVE, YOUNGSTOWN, OH 44505

Signing Officer

Name
James Converse
Title
Secretary
Phone
3307593668
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Converse
Formed
1987
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
H & J Certified Public Accountants Inc
Address
7555 FREDLE DR STE 110, CONCORD, OH 44077
Preparer
Rolland B Standish
Phone
4409512997
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Common wealth revolving loan fund (cwrlf), founded in 1987, is a non-profit community development financial institution whose purpose is to lend money to employee-owned companies or co-ops for expansion, facilities, machinery and equipment, vehicles, and working capital or for employee-buyouts. Cwrlf serves borrowers located in ohio and the nearby areas of contiguous states. The oeoc has been administering the loan fund since 2004.”

Form 990, Part XI, Line 9

“Recovery of loan loss allowance 99,166”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COMMON WEALTH REVOLVING LOAN FUND (CWRLF), FOUNDED IN 1987, IS A NON-PROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WHOSE PURPOSE IS TO LEND MONEY TO EMPLOYEE-OWNED COMPANIES OR CO-OPS FOR EXPANSION, FACILITIES, MACHINERY AND EQUIPMENT, VEHICLES, AND WORKING CAPITAL OR FOR EMPLOYEE-BUYOUTS. CWRLF SERVES BORROWERS LOCATED IN OHIO AND THE NEARBY AREAS OF CONTIGUOUS STATES. THE OEOC HAS BEEN ADMINISTERING THE LOAN FUND SINCE 2004.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EFFECTIVE JANUARY 1, 2008, THE ORGANIZATION ENTERED INTO A CONTRACT WITH OHIO EMPLOYEE OWNERSHIP CENTER ("OEOC") FOR ADMINISTRATIVE ACTIVITIES, MANAGEMENT SERVICES, AND SUPPORT ACTIVITIES. THE AGREEMENT AUTOMATICALLY RENEWS EVERY FOUR YEARS. THE AGREEMENT PROVIDES FOR FEES TO BE DETERMINED BASED ON A DEFINED FORMULA. OEOC IS LOCATED AT KENT STATE UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN INDEPENDENT CPA PREPARES THE FORM 990. AFTER REVIEW BY THE LOAN COORDINATOR, THE FORM 990 TO BOARD MEMBERS PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST STATEMENTS ARE REVIEWED AT BOARD MEETINGS. EACH NEW MEMBER IS NOTIFIED ABOUT THE PROCEDURE AND CONPLETES A CONFLICT OF INTEREST FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BYLAWS AND GOVERNING DOCUMENTS, AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE AT ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5RECOVERY OF LOAN LOSS ALLOWANCE 99,166
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02020-04-17 16:48:07Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES CONVERSE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0COMMON WEALTH REVOLVING LOAN FUND
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId055768AC9CD56D4035E89663FEFE1880A83120F3A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId054043A608B15D9709ECFD4C1C4EF8B0683683D57
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm016:11:36
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341602442
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0H & J CERTIFIED PUBLIC ACCOUNTANTS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07555 FREDLE DR STE 110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044077
ReturnHeader/PreparerPersonGrp/PhoneNum04409512997
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROLLAND B STANDISH
ReturnHeader/ReturnTs02019-11-15T16:11:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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