Coalfield Development Corporation is located in Wayne, WV. The organization was established in 2011. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Coalfield Development Corporation employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coalfield Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Coalfield Development Corporation generated $14.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 32.6% each year . All expenses for the organization totaled $7.3m during the year ending 12/2022. While expenses have increased by 25.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Coalfield Development Corporation has awarded 57 individual grants totaling $2,428,928. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRING THE COURAGE TO GROW, ACTIVATING THE CREATIVITY TO INNOVATE, AND CULTIVATION COMMUNITITES OF OPPORTUNITY IN CENTRAL APPALACHIA THROUGH THREE CORE CAPABILITIES: EMPLOYMENT BASED SOCIAL ENTERPRISE, COMMUNITY-BASED REVITALIZATION, AND DEVELOPMENT FOR PEOPLE FACING BARRIERS TO EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCUBATING AND INVESTING IN EMPLOYMENT-BASED SOCIAL ENTERPRISES: WE WHOLLY OR PARTIALLY OWN A FAMILY OF EMPLOYMENT-BASED SOCIAL ENTERPRISES DESIGNED TO DIVERSIFY THE REGIONAL ECONOMY TO BE LESS DEPENDENT ON COAL. BY "EMPLOYMENT-BASED" WE MEAN ENTERPRISES THAT EXIST FOR THE PURPOSE OF ADVANCING THE WELL-BEING OF ITS EMPLYEES, WHICH WE DO PRIMARILY THROUGH OUR PERSONAL AND ACADEMIC DEVELOPMENT PROGRAMMING. OUR ENTERPRISES' SUCCESSES ARE MEASURED ACCORDING TO A TRIPLE BOTTOM LINE: PEOPLE, PLANET, PROFIT. REVENUE FROM OUR SOCIAL ENTERPRISES ENABLES OUR ORGANIZATION TO CREATE HUNDREDS OF JOBS AND TO BE LESS GRANT-DEPENDENT AND MORE FINANCIALLY SUSTAINABLE. OUR COMMUNITITES ARE SEVERELY ECONOMICALLY DISTRESSED AS A RESULT OF OVER-RELIANCE ON THE COAL INDUSTRY. THEREFORE, CREATING NEW BUSINESSES IS CRITICAL TO REALIZING OUR VISION; OTHERWISE, OUR TRAINEES AND GRADUATES WOULD OFTEN HAVE NOWHERE TO PUT THEIR NEW TRAINING AND CREDENTIALS TO USE.
DESIGNING AND SCALING NEW PROGRAMS IN SUSTAINABLE SECTORS: IT IS IMPORTANT TO HELP PEOPLE IMAGINE WHAT A SUSTAINABLE, DIVERSIFIED ECONOMY CAN LOOK LIKE AND HOW IT CAN FUNCTION. THROUGH OUR PROGRAM AND SECTOR DEVELOPMENT TEAM WE ARE DESIGNING AND SCALING PROGRAMS THAT CAN TANGIBLY DEMONSTRATE WHAT A BETTER ECONOMY LOOKS LIKE. CURRENTLY, WE ARE INCUBATING PROGRAMS IN SUSTAINABLE AND REGENERATIVE AGRICULTURE, CLEAN ENERGY, DECONSTRUCTION AND RE-USE AND MINE LAND RECLAMATION. WE ARE ALSO WORKING WITH NONPROFIT PARTNERS TO HELP BUILD THEIR CAPACITY AND EXPAND THEIR PLACE-BASED WORKFORCE TRAINING PROGRAMS. AT THE SAME TIME, WE ARE DEVELOPING A NETWORK OF EMPLOYERS WHO ARE EAGER TO HIRE OUR EMERGING WORKFORCE PARTICIPANTS AND CHANGE THEIR OWN EMPLOYMENT BEHAVIORS TO BE MORE SUPPORTIVE AND ENGAGED IN REBUILDING THE APPALACHIAN ECONOMY FROM THE GROUND UP.
FACIITATING PROFESSIONAL, PERSONAL, AND ACADEMIC DEVELOPMENT FOR PEOPLE FACING BARRIERS TO EMPLOYMENT: COALFIELD DEVELOPMENT TRAINS UNEMPLOYED PEOPLE IN MODERN WORKFORCE SKILLS. THROUGHOUT THE YEAR, WE FACILITATE DOZENS OF LEARNING OPPORTUNITITES FOR COMMUNITY MEMBERS. OUR NETWORK OF EMPLOYERS ENSURES OUR TRAINING IS RELEVANT TO THEIR NEEDS. THIS WAYM GRADUATES OF OUR TRAINING CAN QUICKLY FIND GAINFUL EMPLOYMENT AND OUR LOCAL BUSINESSES CAN HAVE AN EFFECTIVE WORKFORCE WITH WHICH TO GROW. OUR MOST IN-DEPTH OPPORTUNITY IS FOR THE PERSONAL AND ACADEMIC DEVELOPMENT OF OUR CREW MEMBERS WHO STAFF OUR SOCIAL ENTERPRISES. CREW MEMBERS WORK OUR 33-6 -3 MODEL WHERE EACH WEEK THEY COMPLETE 33 HOURS OF PAID WORK, 6 CREDIT HOURS OF HIGHER EDUCATION, AND 3 HOURS OF PERSONAL DEVELOPMENT MENTORSHIP. WE MAKE UP TO A THREE-YEAR EMPLOYMENT COMMITMENTTO CREW MEMBERS AS THEY EARN AN ASSOCIATE DEGREE OR TRADE CERTIFICATION AND GAIN TRACTION ON LIFE GOALS. PRIOR TO BECOMING A CREW MEMBER, PEOPLE MUST COMPLETE A SIX-MONTH COURSE CALLED WORKFORCE READINESS AND PROFESSIONAL SUCCESS (WRAPS). WRAPS TRAINEES ARE PAID FOR 33 HOURS OF WORK AND THREE HOURS OF PROFESSIONAL DEVELOPMENT EACH WEEK. INSTEAD OF PURSING HIGHER EDUCATION AT THIS STAGE, TRAINEES IDENTIFY BARRIES TO LONG-TERM EMPLOYMENT SUCCESS AN DCAN SPEND UP TO FOUR HOURS OF THEIR PAID TIME EACH WEEK WORKING WITH OUR HUMAN DEVELOPMENT STAFF TO ADDRESS THESE ISSUES. AFTER SIX MONTHS, WRAPS TRAINEES AREBETTER PREPARED TO ENTER THE WORKFORCES AS A 33-6-3 CREW MEMBER OR TO BE A SUCCESSFUL EMPLOYEE OUTSIDE OF COALFIELD DEVELOPMENT.
LEADING AND COLLABORATING ON COMMUNITY-BASED REVITALIZATION PROJECTS: AS A LICENSED GENERAL CONTRACTOR, COALFIELD DEVELOPMENT CAN ADVANCE BOLD, CREATIVE PROJECTS IN DEEP COLLABORATION WITH THE COMMUNITITES WE SERVE. OUR PROJECTS ARE DESIGNED AND ULTIMATELY OWNED BY THE COMMUNITY. WE KEEP A PROJECT PIPELINE FULL AND ADVANCE PROJECTS THROUGH THIS PIPELINE BEGINNING WITH PREDEVELOPMENT AND FINANCING, ENTERING INTO CONSTRUCTION, AND THEN INTO OPERATION AS COMMINITY ASSETS. OUR PROJECTS ARE MIXED-USE, MIXED INCOME, MEANING THEY BLEND RESIDENTIAL AND COMMERCIAL PURPOSES FOR A VARIETY OF DIFFERENT INCOME DEMOGRAPHICS, THUS ALSO CONTRIBUTING TO ECONOMIC DIVERSIFICATION AND OPPORTUNITY CULTIVATION. OUR CONSTRUCTION CREW IS ALSO A SOCIAL ENTERPRISE, HAVING 33-6-3 CREW MEMBERS AS CARPENTERS, REJUVENATING EMPTY BUILDINGS OR FORMER MINE-LANDS CAN BE A MAJOR STRATEGY FOR BREATHING NEW LIFE INTO OUR COMMUNITIES, PRESERVING CULTURAL TREASURERS, ATTRACTING FRESH INVESTMENT, PROVIDING OPPORTUNITIES FOR ENTREPRENEURSHIP AND CREATING QUALITY, AFFORDABLE HOUSING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Larry Castle President | OfficerTrustee | 1 | $0 |
Joetta Hatfield Vice Preside | OfficerTrustee | 1 | $0 |
Chase Thomas Secretary | OfficerTrustee | 1 | $0 |
Ric Macdowell Treasurer | OfficerTrustee | 1 | $0 |
Kenzie New-Walker Member | Trustee | 1 | $0 |
Andrew Dawson Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Netranom | 12/30/22 | $180,839 |
All-con Llc | 12/30/22 | $168,541 |
The Thrasher Group Inc | 12/30/22 | $109,387 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $2,747,277 |
All other contributions, gifts, grants, and similar amounts not included above | $11,196,137 |
Noncash contributions included in lines 1a–1f | $194,140 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,943,414 |
Total Program Service Revenue | $783,312 |
Investment income | $9,852 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$44,488 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $14,692,090 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,180,488 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $339,724 |
Compensation of current officers, directors, key employees. | $64,547 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,502,387 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $208,787 |
Payroll taxes | $241,378 |
Fees for services: Management | $0 |
Fees for services: Legal | $60,894 |
Fees for services: Accounting | $91,779 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $204,070 |
Advertising and promotion | $109,358 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $327,463 |
Travel | $242,605 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $127,632 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $413,074 |
Insurance | $101,717 |
All other expenses | $182,818 |
Total functional expenses | $7,254,683 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $549,660 |
Savings and temporary cash investments | $9,709,666 |
Pledges and grants receivable | $2,041,116 |
Accounts receivable, net | $26,673 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $154,455 |
Inventories for sale or use | $59,053 |
Prepaid expenses and deferred charges | $69,693 |
Net Land, buildings, and equipment | $11,213,170 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $480,516 |
Intangible assets | $0 |
Other assets | $228,191 |
Total assets | $24,532,193 |
Accounts payable and accrued expenses | $784,689 |
Grants payable | $0 |
Deferred revenue | $2,997,725 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $3,126,079 |
Unsecured mortgages and notes payable | $80,105 |
Other liabilities | $0 |
Total liabilities | $6,988,598 |
Net assets without donor restrictions | $7,644,172 |
Net assets with donor restrictions | $9,899,423 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $24,532,193 |
Over the last fiscal year, Coalfield Development Corporation has awarded $1,180,488 in support to 24 organizations.
Grant Recipient | Amount |
---|---|
APPALACHIAN SUSTAINABLE DEVELOPMENT | | | $82,235 |
APPALACHAIN VOICES | | | $10,000 |
CENTRAL WEST VIRGINIA REGIONALAIRPORT AUTHORITY | | | $50,000 |
HIGH ROCKS EDUCATIONAL CORPORATION | | | $12,000 |
GENERATION WV | | | $12,073 |
ECONOMIC DEVELOPMENT GREATER EAST | | | $23,959 |