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 12/2021, Coalfield Development Corporation employed 110 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 12/2021, Coalfield Development Corporation generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. While expenses have increased by 23.7% per year over the past 7 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 33 individual grants totaling $1,248,440. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRING THE COURAGE TO GROW, ACTIVATING THE CREATIVITY TO INNOVATE, AND CULTIVATING COMMUNITIES 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 EMPLOYEES, 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 CREATE HUNDREDS OF JOBS AND TO BE LESS GRANT-DEPENDENT AND MORE FINANCIALLY SUSTAINABLE. OUR COMMUNITIES ARE SEVERELY ECONOMICALLY DISTRESSED AS 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.
FACILITATING 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 OPPORTUNITIES FOR COMMUNITY MEMBERS. OUR NETWORK OF EMPLOYERS ENSURES OUR TRAINING IS RELEVANT TO THEIR NEEDS. THIS WAY, 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 COMMITMENT TO 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 PURSUING HIGHER EDUCATION AT THIS STAGE, TRAINEES IDENTIFY BARRIERS TO LONG-TERM EMPLOYMENT SUCCESS AND CAN 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 ARE BETTER PREPARED TO ENTER THE WORKFORCE 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 COMMUNITIES 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 COMMUNITY 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 |
---|---|---|---|
Brandon Dennison Chief Executive Officer | Officer | 40 | $89,391 |
Marilyn Wrenn Chief Development Officer | Officer | 40 | $72,834 |
Sam Sarcone Chief Financial Officer | Officer | 40 | $72,267 |
Ryan C Stoner Chief Operating Officer | Officer | 40 | $67,578 |
Chase Thomas Secretary | OfficerTrustee | 1 | $0 |
Joetta Hatfield Vice President | OfficerTrustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Classic Builders Inc Construction | 12/30/21 | $128,840 |
Edward Tucker Architects Inc Construction | 12/30/21 | $184,556 |
Ashworth Heating And Cooling Construction | 12/30/21 | $168,606 |
Neighborgall Construction Construction | 12/30/21 | $167,796 |
Shield Roofing And Constructio Llc Construction | 12/30/21 | $163,222 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $2,184,443 |
All other contributions, gifts, grants, and similar amounts not included above | $4,588,991 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $6,773,434 |
Total Program Service Revenue | $396,882 |
Investment income | $11,655 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$51,818 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $7,130,153 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $760,445 |
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. | $318,017 |
Compensation of current officers, directors, key employees. | $61,831 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,600,563 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $474,456 |
Payroll taxes | $212,833 |
Fees for services: Management | $0 |
Fees for services: Legal | $38,441 |
Fees for services: Accounting | $127,040 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $258,919 |
Advertising and promotion | $114,239 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $214,081 |
Travel | $135,483 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $75,209 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $307,639 |
Insurance | $76,062 |
All other expenses | $396,719 |
Total functional expenses | $5,379,122 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $515,999 |
Savings and temporary cash investments | $624,695 |
Pledges and grants receivable | $2,889,839 |
Accounts receivable, net | $26,205 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $62,345 |
Inventories for sale or use | $59,853 |
Prepaid expenses and deferred charges | $63,307 |
Net Land, buildings, and equipment | $9,763,196 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $127,438 |
Intangible assets | $0 |
Other assets | $128,637 |
Total assets | $14,261,514 |
Accounts payable and accrued expenses | $912,941 |
Grants payable | $0 |
Deferred revenue | $322,280 |
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 | $2,920,105 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $4,155,326 |
Net assets without donor restrictions | $7,226,543 |
Net assets with donor restrictions | $2,879,645 |
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 | $14,261,514 |
Over the last fiscal year, Coalfield Development Corporation has awarded $322,425 in support to 14 organizations.
Grant Recipient | Amount |
---|---|
Bristol, VA PURPOSE: SUBWARD FOR PREP APPALACHIA | $61,502 |
Berea, KY PURPOSE: SUPPORT | $50,000 |
MOUNTWEST COMMUNITY & TECHNICAL COLLEGE PURPOSE: SUB AWARD FOR DOL GRANT | $40,000 |
Ashland, KY PURPOSE: SUBWARD FOR APPALACHIA FORWARD | $34,369 |
ECONOMIC DEVELOPMENT GREATER EAST INC PURPOSE: SUBWARD FOR PREP APPALACHIA | $29,041 |
KEEP YOUR FAITH CORPORATION PURPOSE: SUPPORT | $24,100 |
Over the last fiscal year, we have identified 15 grants that Coalfield Development Corporation has recieved totaling $2,113,712.
Awarding Organization | Amount |
---|---|
Bloomberg Family Foundation Inc New York, NY PURPOSE: ACCELERATE TRANSITION TO CLEAN ENERGY | $1,300,000 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC PURPOSE: GENERAL OPERATING/DATA RESEARCH | $210,000 |
Rockefeller Philanthropy Advisors Inc New York, NY PURPOSE: GENERAL | $170,000 |
Appalachian Sustainable Development Bristol, VA | | $130,329 |
William E Seale Family Foundation Annapolis, MD PURPOSE: SUPPORT 501(C)(3) ORGANIZATION. | $75,000 |
Greater Kanawha Valley Foundation Charleston, WV PURPOSE: GENERAL SUPPORT | $50,100 |
Organization Name | Assets | Revenue |
---|---|---|
Dogwood Housing Inc North Bethesda, MD | $86,669,090 | $22,202,788 |
Village At Marymount Garfield Heights, OH | $5,352,973 | $16,703,874 |
Wellspan Properties Inc York, PA | $178,389,137 | $19,225,192 |
Rebecca Residence Allison Park, PA | $63,370,668 | $20,665,205 |
Alliance For Behavioral & Developmental Disabilities Ltd Hermitage, PA | $7,380,317 | $14,591,071 |
National Foundation For Affordable Housing Solutions Inc North Bethesda, MD | $263,616,606 | $53,198,670 |
Healing Place Inc Louisville, KY | $37,666,074 | $13,853,449 |
Magnolia Housing Inc North Bethesda, MD | $6,233,975 | $1,178,678 |
Horizons Of Tuscarawas And Carroll Cos Inc Dover, OH | $1,859,166 | $6,709,172 |
Prologue Inc Baltimore, MD | $8,569,201 | $6,794,698 |
Tenfold Lancaster, PA | $10,964,028 | $6,280,898 |
Coalfield Development Corporation Wayne, WV | $14,261,514 | $7,130,153 |