DEVELOPMENT FUND OF WESTERN RESERV… - 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

2011

Legal Domicile

Principal Officer

CHAD MAYLE

Phone

3307624776

Tax Period

2024-01-01 to 2024-12-31

DEVELOPMENT FUND OF WESTERN RESERVE INC, founded in 2011, is a community nonprofit in the Community Improvement sector that reported $3.0M in total revenue in fiscal year 2024. Revenue surged 110% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 64% operating margin.

Mission

TO SERVE AND PROVIDE INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS.

Program Service Accomplishments

Program 1

Expenses: $937,991 Revenue: $3,005,151

THE COMPANY IS SERVING AS MANAGING MEMBER FOR WESTERN RESERVE DF AFFILIATE XII, XIII, XV, XIV, XVI, XVII, XVIII, XIX, XX, XXI, XXII, ACRF LENDER, LLC, ALL OF WHOM PROVIDE, DIRECTLY OR INDIRECTLY...

THE COMPANY IS SERVING AS MANAGING MEMBER FOR WESTERN RESERVE DF AFFILIATE XII, XIII, XV, XIV, XVI, XVII, XVIII, XIX, XX, XXI, XXII, ACRF LENDER, LLC, ALL OF WHOM PROVIDE, DIRECTLY OR INDIRECTLY, INVESTMENT CAPITAL TO QUALIFIED LOW INCOME COMMUNITY BUSINESSES PURSUANT TO THE NEW MARKETS TAX CREDIT PROGRAM.

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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 $1,206,434

Investment Income $62,956

Other Revenue $1,735,761

TOTAL REVENUE $3,005,151

Expense Breakdown

Grants Paid $200,000

Salaries & Benefits $0

Fundraising Expenses $42,258

Program Expenses $937,991

Other Expenses $881,608

TOTAL EXPENSES $1,081,608

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,005,151	$1,433,111	+1.1%
Expenses	$1,081,608	$1,523,921	-0.3%
Net Income	$1,923,543	$-90,810	-22.2%

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

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

$243,880

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAMEO CAREY	MEMBER	0.00	Director	$0	$0	$0
ERIN WOJNO	SECRETARY	0.00	Director	$0	$0	$0
HARRY EADON	TREASURER	0.00	Director	$0	$0	$0
SARAH LOWN	MEMBER	0.00	Director	$0	$0	$0
JOE ROSSI	PRESIDENT	0.00	Director	$0	$0	$0
RACHEL BRIDENSTINE	EXECUTIVE DIRECTOR	1.00	Officer	$0	$0	$132,513
CHAD MAYLE	CFO	1.00	Officer	$0	$0	$111,367

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	$3,005,151	$1,081,608	$8,636,672	$1,923,543
2023	$1,433,111	$1,523,921	$6,695,086	$-90,810
2022	$1,811,336	$987,951	$6,942,255	$823,385
2021	$981,165	$731,252	$5,924,727	$249,913
2020	$1,410,031	$1,244,712	$5,846,520	$165,319
2019	$852,574	$1,095,174	$5,505,883	$-242,600
2018	$698,231	$683,338	$5,710,701	$14,893

DEVELOPMENT FUND OF WESTERN RESERVE INC