Civic Intelligence

Well Community Development Corporation

990 • Fiscal year 2018 • EIN 81-2680851

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 25, 2019

647 E Market StAkron, OH 44304

(330) 815-1062

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.30x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.40x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

86th percentile

35%

Higher net margin than 86% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

47th percentile

$56,384

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

91st percentile

49%

Faster asset growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

85th percentile

41%

Faster revenue growth than 85% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$1,299,685

Up $428,930 (+49%) from 2017

Net Assets

Up

$906,184

Up $341,247 (+60%) from 2017

Liabilities

Up

$393,501

Up $87,683 (+29%) from 2017

Revenue

Up

$986,916

Up $287,802 (+41%) from 2017

Expenses

Up

$645,669

Up $270,908 (+72%) from 2017

Net Income

Up

$341,247

Up $16,894 (+5.2%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2016: $527,576Liabilities 2016: $286,992Net Assets 2016: $240,5842016Assets 2017: $870,755Liabilities 2017: $305,818Net Assets 2017: $564,9372017Assets 2018: $1,299,685Liabilities 2018: $393,501Net Assets 2018: $906,1842018Assets 2019: $3,168,335Liabilities 2019: $664,442Net Assets 2019: $2,503,8932019Assets 2020: $4,489,134Liabilities 2020: $1,365,868Net Assets 2020: $3,123,2662020Assets 2021: $6,523,101Liabilities 2021: $2,106,296Net Assets 2021: $4,416,8052021Assets 2022: $7,736,422Liabilities 2022: $2,616,829Net Assets 2022: $5,119,5932022Assets 2023: $10,620,209Liabilities 2023: $2,894,046Net Assets 2023: $7,726,1632023Assets 2024: $13,876,989Liabilities 2024: $2,754,422Net Assets 2024: $11,122,5672024

Highlighted filing

2018

Assets$1,299,685
Liabilities$393,501
Net Assets$906,184

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2016: $304,968Expenses 2016: $64,384Net Income 2016: $240,5842016Revenue 2017: $699,114Expenses 2017: $374,761Net Income 2017: $324,3532017Revenue 2018: $986,916Expenses 2018: $645,669Net Income 2018: $341,2472018Revenue 2019: $2,431,223Expenses 2019: $833,514Net Income 2019: $1,597,7092019Revenue 2020: $2,106,150Expenses 2020: $1,091,824Net Income 2020: $1,014,3262020Revenue 2021: $2,628,368Expenses 2021: $1,334,829Net Income 2021: $1,293,5392021Revenue 2022: $2,471,563Expenses 2022: $1,768,775Net Income 2022: $702,7882022Revenue 2023: $5,122,965Expenses 2023: $2,516,395Net Income 2023: $2,606,5702023Revenue 2024: $6,212,161Expenses 2024: $2,810,520Net Income 2024: $3,401,6412024

Highlighted filing

2018

Revenue$986,916
Expenses$645,669
Net Income$341,247
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 25, 2019
Return Version
2018v3.1
Gross Receipts
$999,556
Mission and Program Overview

Mission

To see communities all over akron giving individuals the opportunity to thrive in their current context. The well community development corporation will work with like-minded partners to create affordable housing, a thriving economy, and place-making initiatives, while reinvesting worth, value, and dignity back into the individual lives and social health of the neighborhoods of akron. Rebuilding community through relationships.

The well community development corporation (cdc) will work with like-minded partners to create affordable housing, a thriving economy, and place-making initiatives, while reinvesting worth, value, and dignity back into the individual lives and social health of the neighborhoods of akron. Rebuilding community through relationships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$462,165$838,669▲ $376,504
Cash and Non-Interest-Bearing Accounts$273,290$341,686▲ $68,396
Accounts Receivable$135,300$114,609▼ $20,691
Intangible Assets-$4,265-
Prepaid Expenses and Deferred Charges-$456-
Total Assets$870,755$1,299,685▲ $428,930
Liabilities
Mortgage Notes Payable Secured by Investment Property$190,000$384,998▲ $194,998
Grants Payable$110,909--
Other Liabilities$205$8,503▲ $8,298
Accounts Payable and Accrued Expenses$4,704--
Total Liabilities$305,818$393,501▲ $87,683
Net Assets / Fund Balance
Unrestricted Net Assets$564,937$906,184▲ $341,247
Total Net Assets Fund Balance$564,937$906,184▲ $341,247
Total Liabilities and Net Assets / Fund Balance$870,755$1,299,685▲ $428,930

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$481,320$56,465$537,785
Buildings$183,710$1,603$185,313
Land$151,793-$151,793
Equipment$16,628$1,245$17,873
Leasehold Improvements$5,218$1,221$6,439
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Zachary KohlExecutive DiFT$56,384$56,384

Board Members and Trustees

NameTitle
Paul EckChairman
Adriene K BruceBoard Member
Angela D HarperBoard Member
Ann DurrBoard Member
Carla LongBoard Member
Charles T RidleyBoard Member
David H MaynardBoard Member
James TalbertBoard Member
K T HamptonBoard Member
Michael ByunBoard Member
Randell J Freeman EsqBoard Member
Douglas KohlSecretary
Allan HillTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$703,934
Program Service Revenue
$287,932
Investment Income
$-4,950
Other Revenue
$0
All Other Contributions
$475,434
Change in Net Assets
$341,247
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$349,585
Salaries, Compensation, and Employee Benefits$296,084
Total Fundraising Expense$14,096
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$194,153$22,694-$216,847
Occupancy$42,751$31,710-$74,461
Fees for Services Other$61,110--$61,110
Current Officers, Directors, Trustees, and Key Employees$14,096$28,192$14,096$56,384
Depreciation Depletion$15,811$18,180-$33,991
Office Expenses$10,352$15,388-$25,740
Payroll Taxes$16,853$6,000-$22,853
Insurance$8,366$5,802-$14,168
Fees for Services Legal$4,459$8,907-$13,366
Advertising$2,011$6,955-$8,966
Fees for Services Accounting-$5,955-$5,955
Interest$2,413--$2,413
All Other Expenses$2,387--$2,387
Other Expenses$12,431$1,800-$1,800
Travel$95--$95
Total Functional Expenses$479,990$151,583$14,096$645,669
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Real Estate Tax Liability$5,051
Security Deposits Held$3,155
Sales Tax Payable$176
Tips Payable$121
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
Yes
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Zac kohl douglas kohl exec dir secretary family relationship

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

The organization's accounting firm prepares the form 990. The form 990 is reviewed and distributed to the governing body prior to filing.

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

Compliance with the conflicts of interst policy is monitored annually by signing.

Form 990, Page 6, Part VI, Line 15A

Compensation is approved by the board of directors.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
The Well Community Development
EIN
81-2680851
Phone
3308151062
Address
647 E MARKET ST, AKRON, OH 44304

Signing Officer

Name
Zachary Kohl
Title
Executive Director
Phone
3308151062
Signed
2019-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Zachary Kohl
Formed
2016
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
13
Employees
20
Volunteers
1,489

Preparer

Firm
SCHULTE & COMPANY CPA'S INC
Address
600 S CLEVELAND MASSILLON RD, FAIRLAWN, OH 44333-3022
Preparer
Schulte Company Cpas Inc
Phone
3306700600
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The well community development corporation (cdc) will work with like-minded partners to create affordable housing, a thriving economy, and place-making initiatives, while reinvesting worth, value, and dignity back into the individual lives and social health of the neighborhoods of akron. Rebuilding community through relationships.

Form 990, Page 2, Part III, Line 2

1. Restoring housing - to rehabilitate and restore houses in the middlebury neighborhood for the purpose of strengthening and stabilizing the neighborhood. Along with housing, establish a community toolshed for neighbors to have access to professional tools to work on their homes. 2. Akron food works - a shared-use incubator kitchen space for all users, from startups to established small food businesses. Provide entrepeuners with necessary training to make products a reality.

Form 990, Page 2, Part III, Line 4C

Placemaking - placemaking projects are a means to an end, by way of our neighbors' efforts, we hope to encourage pride in being a neighbor of middlebury and create spaces where people want to live work and play. Repurposed an abandoned 30,000 square foot church building in the middle of one of the poorest communities in akron, in order to create a place of interpersonal connections in our neighborhood. Part of sustainability is renting below market rate space to other non-profit organizations. The middlebury block challenge is a neighborhood revitalization opportunity that encourages neighbors to collaborate on exterior home improvements in order to build confidence in middlebury and inspire a commitment to place. Comprehensive neighborhood plan a comprehensive look at the state of middlebury and strategic recommendations for neighborhood enhancement and improvements. Akron hope - dedicated to supporting akron teachers and students through relationships and resources. We do this through various outreaches, such as adopt a classroom, adopt a team, teachers hope closet, and classroom mentoring. We are currently partnered with four schools: helen arnold clc, portage path clc, mason clc, and buchtel high school.

Form 990, Page 2, Part III, Line 4D

GENERAL OPERATIONS

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IRS990/MissionDesc0THE WELL COMMUNITY DEVELOPMENT CORPORATION (CDC) WILL WORK WITH LIKE-MINDED PARTNERS TO CREATE AFFORDABLE HOUSING, A THRIVING ECONOMY, AND PLACE-MAKING INITIATIVES, WHILE REINVESTING WORTH, VALUE, AND DIGNITY BACK INTO THE INDIVIDUAL LIVES AND SOCIAL HEALTH OF THE NEIGHBORHOODS OF AKRON. REBUILDING COMMUNITY THROUGH RELATIONSHIPS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0HOUSING - RESTORING HOUSING - TO REHABILITATE AND RESTORE HOUSES IN THE MIDDLEBURY NEIGHBORHOOD FOR THE PURPOSE OF STRENGTHENING AND STABILIZING THE NEIGHBORHOOD. ALONG WITH HOUSING, ESTABLISH A COMMUNITY TOOLSHED FOR NEIGHBORS TO HAVE ACCESS TO PROFESSIONAL TOOLS TO WORK ON THEIR HOMES.
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IRS990/ProgSrvcAccomActy3Grp/Desc0PLACEMAKING - PLACEMAKING PROJECTS ARE A MEANS TO AN END, BY WAY OF OUR NEIGHBORS' EFFORTS, WE HOPE TO ENCOURAGE PRIDE IN BEING A NEIGHBOR OF MIDDLEBURY AND CREATE SPACES WHERE PEOPLE WANT TO LIVE WORK AND PLAY. REPURPOSED AN ABANDONED 30,000 SQUARE FOOT CHURCH BUILDING IN THE MIDDLE OF ONE OF THE POOREST COMMUNITIES IN AKRON, IN ORDER TO CREATE A PLACE OF INTERPERSONAL CONNECTIONS IN OUR NEIGHBORHOOD. PART OF SUSTAINABILITY IS RENTING BELOW MARKET RATE SPACE TO OTHER NON-PROFIT ORGANIZATIONS. THE MIDDLEBURY BLOCK CHALLENGE IS A NEIGHBORHOOD REVITALIZATION OPPORTUNITY THAT ENCOURAGES NEIGHBORS TO COLLABORATE ON EXTERIOR HOME IMPROVEMENTS IN ORDER TO BUILD CONFIDENCE IN MIDDLEBURY AND INSPIRE A COMMITMENT TO PLACE. COMPREHENSIVE NEIGHBORHOOD PLAN A COMPREHENSIVE LOOK AT THE STATE OF MIDDLEBURY AND STRATEGIC RECOMMENDATIONS FOR NEIGHBORHOOD ENHANCEMENT AND IMPROVEMENTS. AKRON HOPE - DEDICATED TO SUPPORTING AKRON TEACHERS AND STUDENTS THROUGH RELATIONSHIPS AND RESOURCES. WE DO THIS THROUGH VARIOUS OUTREACHES, SUCH AS ADOPT A CLASSROOM, ADOPT A TEAM, TEACHERS HOPE CLOSET, AND CLASSROOM MENTORING. WE ARE CURRENTLY PARTNERED WITH FOUR SCHOOLS: HELEN ARNOLD CLC, PORTAGE PATH CLC, MASON CLC, AND BUCHTEL HIGH SCHOOL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE WELL COMMUNITY DEVELOPMENT CORPORATION (CDC) WILL WORK WITH LIKE-MINDED PARTNERS TO CREATE AFFORDABLE HOUSING, A THRIVING ECONOMY, AND PLACE-MAKING INITIATIVES, WHILE REINVESTING WORTH, VALUE, AND DIGNITY BACK INTO THE INDIVIDUAL LIVES AND SOCIAL HEALTH OF THE NEIGHBORHOODS OF AKRON. REBUILDING COMMUNITY THROUGH RELATIONSHIPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11. RESTORING HOUSING - TO REHABILITATE AND RESTORE HOUSES IN THE MIDDLEBURY NEIGHBORHOOD FOR THE PURPOSE OF STRENGTHENING AND STABILIZING THE NEIGHBORHOOD. ALONG WITH HOUSING, ESTABLISH A COMMUNITY TOOLSHED FOR NEIGHBORS TO HAVE ACCESS TO PROFESSIONAL TOOLS TO WORK ON THEIR HOMES. 2. AKRON FOOD WORKS - A SHARED-USE INCUBATOR KITCHEN SPACE FOR ALL USERS, FROM STARTUPS TO ESTABLISHED SMALL FOOD BUSINESSES. PROVIDE ENTREPEUNERS WITH NECESSARY TRAINING TO MAKE PRODUCTS A REALITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PLACEMAKING - PLACEMAKING PROJECTS ARE A MEANS TO AN END, BY WAY OF OUR NEIGHBORS' EFFORTS, WE HOPE TO ENCOURAGE PRIDE IN BEING A NEIGHBOR OF MIDDLEBURY AND CREATE SPACES WHERE PEOPLE WANT TO LIVE WORK AND PLAY. REPURPOSED AN ABANDONED 30,000 SQUARE FOOT CHURCH BUILDING IN THE MIDDLE OF ONE OF THE POOREST COMMUNITIES IN AKRON, IN ORDER TO CREATE A PLACE OF INTERPERSONAL CONNECTIONS IN OUR NEIGHBORHOOD. PART OF SUSTAINABILITY IS RENTING BELOW MARKET RATE SPACE TO OTHER NON-PROFIT ORGANIZATIONS. THE MIDDLEBURY BLOCK CHALLENGE IS A NEIGHBORHOOD REVITALIZATION OPPORTUNITY THAT ENCOURAGES NEIGHBORS TO COLLABORATE ON EXTERIOR HOME IMPROVEMENTS IN ORDER TO BUILD CONFIDENCE IN MIDDLEBURY AND INSPIRE A COMMITMENT TO PLACE. COMPREHENSIVE NEIGHBORHOOD PLAN A COMPREHENSIVE LOOK AT THE STATE OF MIDDLEBURY AND STRATEGIC RECOMMENDATIONS FOR NEIGHBORHOOD ENHANCEMENT AND IMPROVEMENTS. AKRON HOPE - DEDICATED TO SUPPORTING AKRON TEACHERS AND STUDENTS THROUGH RELATIONSHIPS AND RESOURCES. WE DO THIS THROUGH VARIOUS OUTREACHES, SUCH AS ADOPT A CLASSROOM, ADOPT A TEAM, TEACHERS HOPE CLOSET, AND CLASSROOM MENTORING. WE ARE CURRENTLY PARTNERED WITH FOUR SCHOOLS: HELEN ARNOLD CLC, PORTAGE PATH CLC, MASON CLC, AND BUCHTEL HIGH SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GENERAL OPERATIONS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ZAC KOHL DOUGLAS KOHL EXEC DIR SECRETARY FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S ACCOUNTING FIRM PREPARES THE FORM 990. THE FORM 990 IS REVIEWED AND DISTRIBUTED TO THE GOVERNING BODY PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPLIANCE WITH THE CONFLICTS OF INTERST POLICY IS MONITORED ANNUALLY BY SIGNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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