Civic Intelligence

Western Reserve Community Fund Inc.

990 • Fiscal year 2020 • EIN 83-3858451

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 19, 2021

Organization ProfileWWW.DEVELOPMENTFINANCEAUTHORITY.ORG
47 North Main Street No 407Akron, OH 44308

(330) 762-4776

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.03x

Higher debt load relative to assets than 33% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

30th percentile

0.04x

Higher debt load relative to revenue than 30% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

96th percentile

185%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

83%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$3,066,318

Up $1,991,202 (+185%) from 2019

Net Assets

Up

$2,988,818

Up $1,913,702 (+178%) from 2019

Liabilities

Up

$77,500

Up $77,500 from 2019

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin98th percentile

Revenue

Up

$1,985,393

Up $901,526 (+83%) from 2019

Expenses

Up

$71,691

Up $62,940 (+719%) from 2019

Net Income

Up

$1,913,702

Up $838,586 (+78%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$15M$10M$5.0M$0Assets 2019: $1,075,116Liabilities 2019: $0Net Assets 2019: $1,075,1162019Assets 2020: $3,066,318Liabilities 2020: $77,500Net Assets 2020: $2,988,8182020Assets 2021: $4,367,044Liabilities 2021: $436,890Net Assets 2021: $3,930,1542021Assets 2022: $8,813,414Liabilities 2022: $2,548,662Net Assets 2022: $6,264,7522022Assets 2023: $11,629,184Liabilities 2023: $3,351,750Net Assets 2023: $8,277,4342023Assets 2024: $12,683,642Liabilities 2024: $3,539,995Net Assets 2024: $9,143,6472024

Highlighted filing

2020

Assets$3,066,318
Liabilities$77,500
Net Assets$2,988,818
Open 2020 Filing

Operations Trend

Revenue Growth91st percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2019: $1,083,867Expenses 2019: $8,751Net Income 2019: $1,075,1162019Revenue 2020: $1,985,393Expenses 2020: $71,691Net Income 2020: $1,913,7022020Revenue 2021: $1,584,990Expenses 2021: $643,654Net Income 2021: $941,3362021Revenue 2022: $3,285,115Expenses 2022: $950,517Net Income 2022: $2,334,5982022Revenue 2023: $3,393,953Expenses 2023: $1,381,271Net Income 2023: $2,012,6822023Revenue 2024: $2,490,684Expenses 2024: $1,624,471Net Income 2024: $866,2132024

Highlighted filing

2020

Revenue$1,985,393
Expenses$71,691
Net Income$1,913,702
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 19, 2021
Return Version
2020v4.1
Gross Receipts
$1,985,393
Mission and Program Overview

Mission

In furtherance thereof, the corporation shall be organized to support and further community development and job creation in the state of ohio and will initially focus on the 5-county region of medina, portage, stark, summit, and wayne.

Organized to support and further community development and job creation in the state of ohio.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$351,960$1,068,451▲ $716,491
Investments Program Related$647,599$1,013,669▲ $366,070
Pledges and Grants Receivable$70,000$957,500▲ $887,500
Accounts Receivable$345$19,749▲ $19,404
Prepaid Expenses and Deferred Charges$5,212$6,949▲ $1,737
Total Assets$1,075,116$3,066,318▲ $1,991,202
Liabilities
Deferred Revenue-$70,000-
Accounts Payable and Accrued Expenses-$7,500-
Total Liabilities$0$77,500▲ $77,500
Net Assets / Fund Balance
Net Assets With Donor Restrictions$267,456$2,001,456▲ $1,734,000
Net Assets Without Donor Restrictions$807,660$987,362▲ $179,702
Total Net Assets Fund Balance$1,075,116$2,988,818▲ $1,913,702
Total Liabilities and Net Assets / Fund Balance$1,075,116$3,066,318▲ $1,991,202

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,013,669--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Erin WojnoPresident
Melissa FrankVice President
Rachel BridenstineExecutive Director
Christopher BurnhamAdvising Representative
Renaye BrauningMember
John WilliamsSecretary
Nancy Ellis McclenaghanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,931,500
Program Service Revenue
$35,917
Investment Income
$0
Other Revenue
$17,976
All Other Contributions
$617,500
Change in Net Assets
$1,913,702

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,985,393
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$144,556
Total Revenue per Audited Statements
$2,129,949
Total Revenue per Form 990
$1,985,393
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$71,691
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 Other$29,800--$29,800
Fees for Services Management$15,000--$15,000
Fees for Services Accounting-$13,660-$13,660
Insurance-$6,552-$6,552
All Other Expenses-$3,500-$3,500
Fees for Services Legal$2,583--$2,583
Other Expenses-$496-$496
Advertising-$100-$100
Total Functional Expenses$47,383$24,308$0$71,691

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$216,247
Expenses Not Reported on Form 990$144,556
Expenses per Audited Statements$71,691
Total Expenses per Form 990$71,691
Expenses Not Reported on Financial Statements$0
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
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is presented to board via email with request for comments.”

Form 990, Part VI, Section B, Line 12C

“Each year, wrcf provides its board members with updated conflict of interest forms, to be updated, signed and returned.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The organization's audited financial statements and 990 returns are available on the organization's website for public review.”

Filing and Contact Details

Filer

Filer Name
Western Reserve Community Fund Inc
EIN
83-3858451
Phone
3307624776
Address
47 NORTH MAIN STREET NO 407, AKRON, OH 44308

Signing Officer

Name
Rachel Bridenstine
Title
Executive Director
Phone
3307624776
Signed
2021-08-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Bridenstine
Formed
2019
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Sikich Llp
Address
274 WHITE POND DRIVE, AKRON, OH 44320-1118
Preparer
Jill M Boyle CPA
Phone
3308646661
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting fees: program service expenses 6,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,000. Other fees: program service expenses 23,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,800.”

Form 990, Part XII, Line 2C

“The organization's board all review and approve the audited financial statements as well as perform the selection of the independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“Western reserve community fund, inc. Is a nonprofit organization and is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, the organization has not recorded provisions for federal and state income taxes. The organization is not classified as a private foundation.”

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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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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0PROGRAM RELATED NOTES RECEIVABLE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt0144556
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01985393
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WESTERN RESERVE COMMUNITY FUND, INC. IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE ORGANIZATION HAS NOT RECORDED PROVISIONS FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION IS NOT CLASSIFIED AS A PRIVATE FOUNDATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt01013669
IRS990ScheduleD/TotalExpensesPerForm990Amt071691
IRS990ScheduleD/TotalRevenuePerForm990Amt01985393
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02129949
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0216247
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0AMOUNT OF COMPENSATION PAID BY DEVELOPMENT FINANCE AUTHORITY OF SUMMIT COUNTY FOR SERVICES RENDERED TO THE ORGANIZATION BY OFFICER: RACHEL BRIDENSTINE - $65,925 CHRIS BURNHAM - $128,126
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE J PART III
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PRESENTED TO BOARD VIA EMAIL WITH REQUEST FOR COMMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH YEAR, WRCF PROVIDES ITS BOARD MEMBERS WITH UPDATED CONFLICT OF INTEREST FORMS, TO BE UPDATED, SIGNED AND RETURNED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS AND 990 RETURNS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE FOR PUBLIC REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING FEES: PROGRAM SERVICE EXPENSES 6,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,000. OTHER FEES: PROGRAM SERVICE EXPENSES 23,800. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,800.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S BOARD ALL REVIEW AND APPROVE THE AUDITED FINANCIAL STATEMENTS AS WELL AS PERFORM THE SELECTION OF THE INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01075116
IRS990/TotalAssetsEOYAmt03066318
IRS990/TotalAssetsGrp/BOYAmt01075116
IRS990/TotalAssetsGrp/EOYAmt03066318
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01931500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024308
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt047383
IRS990/TotalFunctionalExpensesGrp/TotalAmt071691
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt077500
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt077500
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01075116
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02988818
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt047383
IRS990/TotalProgramServiceRevenueAmt035917
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt053893
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01985393
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01075116
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03066318
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt047 NORTH MAIN STREET NO 407
IRS990/USAddress/CityNm0AKRON
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044308
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.DEVELOPMENTFINANCEAUTHORITY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RACHEL BRIDENSTINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03307624776
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTERN RESERVE COMMUNITY FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0833858451
ReturnHeader/Filer/PhoneNum03307624776
ReturnHeader/Filer/USAddress/AddressLine1Txt047 NORTH MAIN STREET NO 407
ReturnHeader/Filer/USAddress/CityNm0AKRON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044308
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363168081
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SIKICH LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0274 WHITE POND DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AKRON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0443201118
ReturnHeader/PreparerPersonGrp/PhoneNum03308646661
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JILL M BOYLE CPA
ReturnHeader/ReturnTs02021-08-27T15:04:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RACHEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BRIDENSTINE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,066,318
Liabilities
$77,500
Net assets
$2,988,818
Revenue
$1,985,393
Expenses
$71,691
Net income
$1,913,702
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$3.54$9.14$2.49$1.62$0.87
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.6$3.35$8.28$3.39$1.38$2.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.81$2.55$6.26$3.29$0.95$2.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.37$0.44$3.93$1.58$0.64$0.94
2020Detailed filing. Detailed filing data is available for this year.$3.07$0.08$2.99$1.99$0.07$1.91
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.08$0.00$1.08$1.08$0.01$1.08