Woodlands Community Lenders
- Assets
- $5.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Elkins, WV
- Founding
- 08/2013
- Data as of
- 12/2023
- EIN
- 45-3779342
Organization Overview
Woodlands Community Lenders is located in Elkins, WV. The organization was established in 2013. 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 12/2023, Woodlands Community Lenders employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodlands Community Lenders 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 12/2023, Woodlands Community Lenders generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $688.0k during the year ending 12/2023. While expenses have increased by 8.7% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF WCL IS TO FOSTER ENTREPRENEURSHIP AND COMMUNITY REVITALIZATION BY PROVIDING ACCESS TO CAPITAL AND TECHNICAL ASSISTANCE TO BUSINESSES AND NON-PROFIT ORGANIZATIONS LOCATED IN THE UNDERSERVED COMMUNITIES OF RANDOLPH, BARBOUR AND TUCKER COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, WOODLANDS COMMUNITY LENDERS CLOSED 22 LOANS FOR A TOTAL OF $1,570,015 IN FUNDS LENT. WE SERVED 77 BUSINESSES WITH LENDING AND TECHNICAL ASSISTANCE, RESULTING IN THE CREATION OR RETENTION OF 59 JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Frank President | OfficerTrustee | 0.5 | $0 |
Becky Mcclung Vice President | OfficerTrustee | 0.5 | $0 |
Mark Doak Treasurer | OfficerTrustee | 0.5 | $0 |
Carol Carter Secretary | OfficerTrustee | 0.5 | $0 |
Dean Ahern Director | Trustee | 0.5 | $0 |
Matt Osborne Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $993,708 |
| 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 | $993,708 |
| Total Program Service Revenue | $25,176 |
| Investment income | $137,053 |
| 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 | $1,155,937 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,505 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,102 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,898 |
| Office expenses | $13,606 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,800 |
| Travel | $25,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $54,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,701 |
| Insurance | $2,616 |
| All other expenses | $2,434 |
| Total functional expenses | $687,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,965,056 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $142,708 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,067,839 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $60,854 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $123,823 |
| Total assets | $5,360,280 |
| Accounts payable and accrued expenses | $22,789 |
| Grants payable | $0 |
| Deferred revenue | $80,000 |
| 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 | $2,496,072 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $123,823 |
| Total liabilities | $2,722,684 |
| Net assets without donor restrictions | $659,850 |
| Net assets with donor restrictions | $1,977,746 |
| 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 | $5,360,280 |