West Bank Cdc Inc
- Assets
- $1.7m
- Revenue
- $458.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Minneapolis, MN
- Founding
- 11/1975
- Data as of
- 06/2022
- EIN
- 51-0168908
Organization Overview
West Bank Cdc Inc is located in Minneapolis, MN. The organization was established in 1975. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, West Bank Cdc Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Bank Cdc 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 06/2022, West Bank Cdc Inc generated $458.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $384.6k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH THE OWNERSHIP OF VARIOUS ASSETS, THE ORGANIZATION IMPROVES THE QUALITY OF LIFE OF RESIDENTS BY MAINTAINING AND PRESERVING AFFORDABLE HOUSING STOCK AND COMMERCIAL BUILDINGS, GIVING RESIDENTS A VOICE IN THE DECISION MAKING PROCESS RELATED TO THOSE ASSETS, AND PROVIDING INSTITUTIONAL EXPERTISE ON A WIDE-VARIETY OF DEVELOPMENT TOPICS AFFECTING THE CEDAR-RIVERSIDE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WEST BANK CDC, INC IS A COMMUNITY-DIRECTED ORGANIZATION RESPONSIBLE FOR COMMUNITY BUILDING AND ASSET MANAGEMENT DECISIONS ON BEHALF OF THE RESIDENTS OF THE CEDAR RIVERSIDE NEIGHBORHOOD. THE WBCDC HAS RESPONSIBILITY FOR A VARIETY OF AFFORDABLE HOUSING PROJECTS, COMMERCIAL BUILDINGS, AND RESIDENT/PROPERTY OWNER PUDS WITHIN THE CEDAR-RIVERSIDE NEIGHBORHOOD OF MINNEAPOLIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Mungavan Executive Director | Officer | 40 | $56,509 |
Ken Preslan President | OfficerTrustee | 1 | $0 |
Laura Silver Treasurer | OfficerTrustee | 1 | $0 |
David Swanson Vice President | OfficerTrustee | 1 | $0 |
Niioblite Harper Assistant Vice President | OfficerTrustee | 1 | $0 |
Benjamin Krohling Assistant Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,882 |
| All other contributions, gifts, grants, and similar amounts not included above | $491 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,373 |
| Total Program Service Revenue | $347,099 |
| Investment income | $114 |
| 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 | $458,586 |
| 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. | $58,769 |
| Compensation of current officers, directors, key employees. | $14,692 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,990 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,454 |
| Payroll taxes | $12,177 |
| Fees for services: Management | $35,092 |
| 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 | $0 |
| Office expenses | $9,529 |
| Information technology | $9,665 |
| Royalties | $0 |
| Occupancy | $25,366 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,634 |
| All other expenses | $337 |
| Total functional expenses | $384,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,360 |
| Savings and temporary cash investments | $498,388 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,547 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,231 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,016,718 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,651,244 |
| Accounts payable and accrued expenses | $26,146 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,690 |
| Total liabilities | $35,836 |
| Net assets without donor restrictions | $1,581,408 |
| Net assets with donor restrictions | $34,000 |
| 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 | $1,651,244 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that West Bank Cdc Inc has recieved totaling $33,300.
| Awarding Organization | Amount |
|---|---|
Bcbsm Foundation Inc St Paul, MN PURPOSE: ILEYS DARIIS / NEIGHBORHOOD LIGHT | $33,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Spire Credit Union Falcon Heights, MN | $1,948,614,361 | $81,305,193 |
Serveminnesota Minneapolis, MN | $9,195,680 | $42,573,491 |
Arrowhead Economic Opportunity Agency Incorporated Virginia, MN | $33,957,216 | $39,136,123 |
Minnesota Valley Action Council Inc Mankato, MN | $12,018,161 | $29,353,976 |
Tri-Valley Opportunity Council Inc Crookston, MN | $15,068,505 | $26,983,244 |
United Community Action Partnership Inc Marshall, MN | $18,347,423 | $25,415,099 |
Des Moines Performing Arts Des Moines, IA | $53,428,793 | $29,638,099 |
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Mahube-Otwa Community Action Partnership Inc Detroit Lakes, MN | $6,691,451 | $20,228,935 |
Upper Des Moines Opportunity Inc Graettinger, IA | $5,376,639 | $17,208,548 |
Community Action Agency Of Siouxland Sioux City, IA | $5,735,581 | $15,017,682 |
Mid-Iowa Community Action -Mica- Incorporated Marshalltown, IA | $3,849,705 | $14,587,976 |