Wbd Inc
- Assets
- $16.8m
- Revenue
- $9.1m
- Investments
- $469.8k
- Employees
- 63
- Location
- Madison, WI
- Founding
- 07/1982
- Data as of
- 09/2023
- EIN
- 39-1400466
Organization Overview
Wbd Inc is located in Madison, WI. The organization was established in 1982. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Wbd Inc employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wbd Inc 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 09/2023, Wbd Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $8.2m during the year ending 09/2023. While expenses have increased by 4.8% 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 2015, Wbd Inc has awarded 31 individual grants totaling $1,547,750. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST SMALL BUSINESSES TO OBTAIN CAPITAL FROM THE SBA TO SUPPORT JOB CREATION AND RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WBD, INC. WAS FORMED TO ASSIST SMALL BUSINESSES IN GAINING ACCESS TO CAPITAL IN ORDER TO GROW THEIR BUSINESSES, CREATE JOBS, AND BUILD COMMUNITIES. THE CORNERSTONE OF WBD'S SUCCESS IS THE DELIVERY OF THE SBA 504 PRODUCT. SOLD NATIONWIDE EXCLUSIVELY BY NOT-FOR-PROFIT CERTIFIED DEVELOPMENT COMPANIES (CDC), THE SBA 504 LOAN FULFILLS THE U.S. SMALL BUSINESS ADMINISTRATION'S (SBA) PUBLIC POLICY OBJECTIVE TO SUPPORT SMALL BUSINESSES AND CREATE JOBS IN OUR COMMUNITIES THROUGH LONG-TERM, FIXED RATE FINANCING. AT 9/30/23, WBD'S SBA 504 PORTFOLIO INCLUDED 1,677 LOANS TOTALING $1,002,110,087. DURING THE REPORTING PERIOD 173 NEW LOANS WERE AUTHORIZED FOR OVER $161 MILLION AS A PART OF PROJECTS TOTALING OVER $453 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE AN ADDITIONAL 1,469 JOBS. WBD CURRENTLY PROVIDES ACCESS TO FINANCING FOR THOUSANDS OF BUSINESSES THROUGHOUT WISCONSIN, HAS RECENTLY EXPANDED FROM 14 COUNTIES IN MINNESOTA (LARGELY THE TWIN CITIES AREA) TO THE FULL STATE OF MINNESOTA ON 9/7/23, AND SERVES WISCONSIN-BORDER AREAS IN THE UPPER PENINSULA OF MICHIGAN. SINCE 1981 WBD HAS HELPED CREATE MORE THAN 75,500 JOBS. THIS PAST YEAR, WBD RANKED AS THE 10TH MOST ACTIVE CDC IN THE NATION, BASED ON NUMBER OF 504 LOANS APPROVED OUT OF ROUGHLY 200 CDCS IN THE U.S. THROUGH OUR LLC AFFILIATE, WBD SERVICE COMPANY, LLC, WE PROVIDE OUTSOURCED SERVICES TO FINANCIAL INSTITUTIONS AND NON-BANK COMMUNITY DEVELOPMENT LENDERS FOR THE SBA GOVERNMENT SPONSORED LENDING PROGRAMS. THROUGH BOTH TRAINING AND OUTSOURCED SERVICES, WBD INCREASES PARTNER INSTITUTIONS' ABILITY TO ACCESS SBA PROGRAMS TO SERVE THEIR BUSINESS CLIENTS. WDB'S EXPERTISE WITH THE SBA 7(A) PROGRAM DELIVERS VALUE FOR PROJECTS THAT NEED MORE THAN FIXED ASSET FINANCING AVAILABLE THROUGH OUR CORE SBA 504 LOAN PROGRAM. DURING THE REPORTING PERIOD, WBD PACKAGED 42- 7(A) LOANS VALUED AT OVER $15 MILLION. THESE LOANS SUPPORTED THE CREATION OF 171 NEW JOBS. ADDITIONALLY, THROUGH OUR PARTNERSHIP WITH VARIOUS COMMUNITY DEVELOPMENT AND MINORITY CHAMBER ORGANIZATIONS, WBD SERVICE COMPANY OFFERS LOAN SERVICING AND BACK OFFICE SUPPORT ENHANCING THE AGENCIES' ABILITIES TO DELIVER THE SERVICES THEY PROVIDE. THESE AGENCIES INCLUDE, BUT ARE NOT LIMITED TO THE FOLLOWING: HMONG CHAMBER OF COMMERCE, AFRICAN AMERICAN CHAMBER OF COMMERCE, AND WISCONSIN LATINO CHAMBER OF COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Schneider Corporate Executive Officer | OfficerTrustee | 40 | $385,050 |
Craig Aderhold Chair | OfficerTrustee | 1 | $4,188 |
Patrick Schloss Vice Chair | OfficerTrustee | 1 | $3,450 |
Barbara Lamue Secretary | OfficerTrustee | 1 | $2,900 |
Timothy Schneider Director | Trustee | 1 | $2,563 |
William Mitchell Director | Trustee | 1 | $3,550 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stafford Rosenbaum Llp Attorney Fees | 9/29/23 | $266,837 |
Geck Duea & Olson Pllc Attorney Fees | 9/29/23 | $211,532 |
Wipfli Llp Accounting And It Services | 9/29/23 | $164,267 |
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 | $8,700,649 |
| Investment income | $386,950 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,556 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,133,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $367,970 |
| 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. | $892,475 |
| Compensation of current officers, directors, key employees. | $149,147 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,389,359 |
| Pension plan accruals and contributions | $296,523 |
| Other employee benefits | $431,137 |
| Payroll taxes | $338,929 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,763 |
| Fees for services: Accounting | $28,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,002 |
| Fees for services: Other | $69,361 |
| Advertising and promotion | $125,916 |
| Office expenses | $392,586 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $349,676 |
| Travel | $54,692 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,775 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,446 |
| Insurance | $59,080 |
| All other expenses | $6,890 |
| Total functional expenses | $8,213,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,216 |
| Savings and temporary cash investments | $3,517,662 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,492,005 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $56,907 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $111,731 |
| Net Land, buildings, and equipment | $50,111 |
| Investments—publicly traded securities | $9,249,535 |
| Investments—other securities | $469,806 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $613,782 |
| Total assets | $16,784,755 |
| Accounts payable and accrued expenses | $2,380,905 |
| Grants payable | $0 |
| Deferred revenue | $12,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,900,020 |
| Total liabilities | $4,292,925 |
| Net assets without donor restrictions | $12,491,830 |
| 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 | $16,784,755 |
Grants Awarded
Over the last fiscal year, Wbd Inc has awarded $360,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
WISCONSIN ECONOMIC DEVELOPMENT ASSOCIATION INC PURPOSE: PROVIDE EMPLOYEE AND CONTRACTOR COSTS, SCHOLARSHIP, WEBSITE UPGRADE, AND EXPLORE AND MATCH NEW PUBLIC GRANTS | $84,000 |
NEW NORTH INC PURPOSE: CREATE SIX ENTREPRENEURIAL PITCH CONTESTS IN PARTNERSHIP WITH NINE COUNTY ECONOMIC DEVELOPMENT CORPORATIONS | $29,000 |
FOR-M FOUNDATION INC PURPOSE: SUPPORT 10 WEEK PROGRAM TO PROVIDE EARLY STAGE COMPANIES WITH OPPORTUNITIES FOR LEARNING AND MENTORSHIP TO GROW THEIR BUSINESSES | $50,000 |
RED LETTER GRANT PURPOSE: PROVIDING START-UP CAPITAL GRANTS TO WOMEN ENTREPRENEUERS AND FUND PART-TIME PROGRAM DIRECTOR. | $62,000 |
FAMILY FRIENDLY WORKPLACES PURPOSE: SUPPORT THE GENERAL OPERATIONS SO THEY MAY CONTINUE TO GROW ITS NETWORK. | $50,000 |
PROGRESS LAKESHORE PURPOSE: SUPPORT A FEASIBILITY STUDY ON OPERATING A TECH INCUBATOR IN MANITOWOC COUNTY, WI | $10,000 |