Woodlands Community Lenders
- Assets
- $3.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 2
- Location
- Elkins, WV
- Founding
- 08/2013
- Data as of
- 12/2021
- 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 12/2021, Woodlands Community Lenders employed 2 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 12/2021, Woodlands Community Lenders generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.4% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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 2021, WOODLANDS COMMUNITY LENDERS CLOSED 16 NEW LOANS, LOANING A TOTAL PRINCIPAL AMOUNT OF $587,000. WE SERVED 152 BUSINESSES WITH LENDING AND TECHNICAL ASSISTANCE, RESULTING IN THE CREATION OF 14 NEW JOBS AND PRESERVING 221 JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Ahren Vice President | OfficerTrustee | 0.5 | $0 |
Matt Osborne President | OfficerTrustee | 0 | $0 |
Sandra Franks Director | Trustee | 0.5 | $0 |
Dave Clark Executive Director | Trustee | 0 | $0 |
Robbie Morris Director | Trustee | 0.5 | $0 |
Mark Doak Director | Trustee | 0.5 | $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 | $1,307,641 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,307,641 |
| Total Program Service Revenue | $4,792 |
| Investment income | $70,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,200 |
| 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 | $1,393,834 |
| 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 | $82,292 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,992 |
| Payroll taxes | $6,874 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,127 |
| Advertising and promotion | $5,944 |
| Office expenses | $10,619 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,600 |
| Travel | $1,364 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $41,732 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,494 |
| Insurance | $3,259 |
| All other expenses | $32,049 |
| Total functional expenses | $609,883 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,203,115 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $155,756 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,441,989 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $77,146 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,878,006 |
| Accounts payable and accrued expenses | $33,035 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,753,102 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,786,137 |
| Net assets without donor restrictions | $723,446 |
| Net assets with donor restrictions | $1,368,423 |
| 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 | $3,878,006 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Woodlands Community Lenders has recieved totaling $180,000.
| Awarding Organization | Amount |
|---|---|
Opportunity Finance Network Philadelphia, PA PURPOSE: COVID-19 GRANT | $100,000 |
Appalachian Community Capital Corporation Christiansburg, VA PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $80,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |