WESTERN RESERVE REVITALIZATION AND… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

JEFFERY K PATTERSON

Phone

2162713010

Tax Period

2024-01-01 to 2024-12-31

WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC, founded in 1998, is a mid-sized nonprofit in the Housing & Shelter sector that reported $24.5M in total revenue in fiscal year 2024. Revenue surged 154% from the prior year, signaling strong growth momentum. The organization ran a surplus of $12.8M, a strong 52% operating margin.

Mission

THE FORMATION OF THE COMPANY IS FOR THE AID IN PLANNING, UNDERTAKING, CONSTRUCTION AND OPERATION OF HOUSING PROJECTS WITHIN CUYAHOGA COUNTY, OHIO. IT WAS FORMED TO DEVELOP LOW AND MODERATE INCOME HOUSING IN TARGET NEIGHBORHOODS IN CUYAHOGA COUNTY.

Program Service Accomplishments

Program 1

Expenses: $10,481,119 Revenue: $24,412,269

TO DEVELOP LOW AND MODERATE INCOME HOUSING IN TARGET NEIGHBORHOODS IN CUYAHOGA COUNTY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $21,816,676

Investment Income $90,957

Other Revenue $2,595,593

TOTAL REVENUE $24,503,226

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,062,426

Fundraising Expenses $0

Program Expenses $10,481,119

Other Expenses $9,621,112

TOTAL EXPENSES $11,683,538

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,503,226	$9,660,928	+1.5%
Expenses	$11,683,538	$9,618,508	+0.2%
Net Income	$12,819,688	$42,420	+301.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$969,910

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	TRUSTEE	0.00		$0	$0	$0
N/A	TRUSTEE	0.00		$0	$0	$0
N/A	TRUSTEE	0.00		$0	$0	$0
STEPHANIE POPE-EARLEY	CHAIRPERSON	0.00	Officer	$0	$0	$0
JOSEPH BLACK	VICE CHAIRPERSON	0.00	Officer	$0	$0	$0
JEFFREY PATTERSON	PRESIDENT	1.00	Officer	$0	$50,669	$357,075
CLYDE TRUETT JR	TREASURER	1.00	Officer	$0	$47,992	$200,242
JEFFREY WADE	VICE PRESIDENT	1.00	Officer	$0	$55,590	$252,063
RACHEL LOEWY	SECRETARY	1.00	Officer	$0	$28,129	$160,530

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$24,503,226	$11,683,538	$88,372,078	$12,819,688
2023	$9,660,928	$9,618,508	$73,909,759	$42,420
2022	$21,555,573	$8,710,656	$75,809,968	$12,844,917
2021	$17,708,509	$10,127,840	$81,496,475	$7,580,669
2020	$14,921,862	$10,746,316	$127,401,320	$4,175,546
2019	$14,647,306	$7,334,955	$117,409,259	$7,312,351
2018	$12,494,679	$6,240,468	$104,147,844	$6,254,211

WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC