Western Reserve Revitalization & Management Co
- Assets
- $81.5m
- Revenue
- $17.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 04/2003
- Data as of
- 12/2021
- EIN
- 34-1885473
Organization Overview
Western Reserve Revitalization & Management Co is located in Cleveland, OH. The organization was established in 2003. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Reserve Revitalization & Management Co 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, Western Reserve Revitalization & Management Co generated $17.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $10.1m during the year ending 12/2021. While expenses have increased by 7.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FORMATION OF THE COMPANY IS FOR THE AID IN PLANNING, UNDERTAKING, CONSTRUCTION AND OPERATION OF HOUSING PROJECTS WITHIN CUYAHOGA COUNTY, OHIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP LOW AND MODERATE INCOME HOUSING IN TARGET NEIGHBORHOODS IN CUYAHOGA COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffery K Patterson Vice President | Officer | 10 | $66,213 |
Rachel Loewy Secretary | Officer | 8 | $56,036 |
Jeffery Wade Treasurer | Officer | 4 | $39,060 |
Stephanie Pope-Earley President | Officer | 0 | $0 |
Name Not Listed Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $16,400,847 |
| Investment income | $4,928 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,708,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $161,309 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,671,108 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $118,724 |
| Other employee benefits | $244,915 |
| Payroll taxes | $0 |
| Fees for services: Management | $316,560 |
| Fees for services: Legal | $7,982 |
| Fees for services: Accounting | $58,244 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $322,662 |
| Advertising and promotion | $0 |
| Office expenses | $141,427 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,684,587 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,120,967 |
| Insurance | $248,187 |
| All other expenses | $82,708 |
| Total functional expenses | $10,127,840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,014,829 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,315,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,283,396 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $138,588 |
| Net Land, buildings, and equipment | $23,057,055 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,384,911 |
| Intangible assets | $0 |
| Other assets | $2,302,513 |
| Total assets | $81,496,475 |
| Accounts payable and accrued expenses | $1,403,189 |
| Grants payable | $0 |
| Deferred revenue | $8,985,799 |
| 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 | $15,256,009 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $318,309 |
| Total liabilities | $25,963,306 |
| Net assets without donor restrictions | $55,533,169 |
| Net assets with donor restrictions | $0 |
| 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 | $81,496,475 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Western Reserve Revitalization & Management Co has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Alliance For Housing Oakland County Continuum Of Care Pontiac, MI | $25,935,962 | $39,151,253 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |