CAPITAL AREA DEVELOPMENT CORPORATI… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1963

Legal Domicile

Principal Officer

Mara C Boggs - President and CEO

Phone

3043404253

Tax Period

2024-01-01 to 2024-12-31

CAPITAL AREA DEVELOPMENT CORPORATION OF WEST VIRGINIA, founded in 1963, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $770K, a strong 28% operating margin.

Mission

Capital Area Development Corporation of West Virginia dba Charleston Area Alliance serves as a catalyst for change for Charleston, Kanawha County, and the surrounding area, leading with innovative and collaborative approaches to shape a prosperous economy that fosters growth and attracts people and investment. We are a community and economic development organization that connects businesses, entrepreneurs and young talent with the resources needed to succeed. Our strategic plan will stimulate job creation, attract new industries, bolster the region's economic resilience, and support energetic and effective local efforts to renew our capital city as strong and vibrant.

Program Service Accomplishments

Program 1

Expenses: $659,624 Revenue: $372,547

Economic Development - Programs and projects focus on business recruitment, expansion and retention by providing site selection assistance, facilitating foreign direct investment, assisting with...

Economic Development - Programs and projects focus on business recruitment, expansion and retention by providing site selection assistance, facilitating foreign direct investment, assisting with import/export needs, supporting innovation, research and development, linking suppliers and customers to promote local economic growth, promoting workforce development opportunities, providing talent attraction incentives, encouraging public investment in supportive infrastructure, and developing entrepreneurial networks and support systems. In 2023, the organization began a major real estate redevelopment project funded by a federal grant matched with other public and private support. Capitalized redevelopment costs as of 12/31/24 were $1,430,108.

Program 2

Expenses: $390,092 Revenue: $206,968

Operation of Business Incubator - Program supports entrepreneurial and small business development. Goals include: increasing awareness of the incubator as an available resource for entrepreneurs in the local area; providing low cost office space for entrepreneurs and start-ups; linking tenant entrepreneurs to available consulting services; providing central location for small business referrals to partners and support systems; increased visibility for entrepreneurs through networking and professional development opportunities.

Program 3

Expenses: $276,989 Revenue: $196,782

Community Development - We work diligently to increase our natural and built assets through sustainable redevelopment initiatives. Goals include: stimulating new housing growth in downtown...

Community Development - We work diligently to increase our natural and built assets through sustainable redevelopment initiatives. Goals include: stimulating new housing growth in downtown Charleston, developing a formal structure for downtown management and marketing, enhancing our downtown promotional efforts, creating community anchors in the urban core, supporting arts and culture throughout Kanawha County, supporting small businesses with targeted grant opportunities. Our collaborative programs assist with the revitalization of small rural communities, build strong communities and enhance the quality of life in the greater Charleston area.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,403,481

Program Service Revenue $1,165,331

Investment Income $133,309

Other Revenue $0

TOTAL REVENUE $2,702,121

Expense Breakdown

Grants Paid $210,800

Salaries & Benefits $743,508

Fundraising Expenses $62,183

Program Expenses $1,468,250

Other Expenses $977,898

TOTAL EXPENSES $1,932,206

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,702,121	$2,339,307	+0.2%
Expenses	$1,932,206	$1,822,315	+0.1%
Net Income	$769,915	$516,992	+0.5%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

100

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

$298,174

Total Directors

Key Employees