2024-02-28T16:24:12-06:00 2023-09-30 390974031 WEGNER CPAS LLP 2921 LANDMARK PL STE 300 MADISON WI 537134236 990 2022-10-01 391400466 WBD INC WBDI 6088190390 5202 EASTPARK BOULEVARD 109 MADISON WI 53718 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 6088190390 2024-02-28 1 MARCIE MAHUTA 999009999 0 JASON STEPHENS CPA P01263225 6082744020 2024-02-28 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X DAN SCHNEIDER 5202 EASTPARK BOULEVARD 109 MADISON WI 53718 11122034 0 X WWW.WBD.ORG X 1981 WI ASSIST SMALL BUSINESSES TO OBTAIN CAPITAL FROM THE SBA TO SUPPORT JOB CREATION AND RETENTION. 12 11 63 43 0 0 0 0 9303397 8700649 57547 411506 38211 21725 9399155 9133880 402105 367970 0 0 6572450 6348423 0 0 0 1355512 1496902 8330067 8213295 1069088 920585 14868892 16784755 3932894 4292925 10935998 12491830 X WBD IS A BUSINESS FINANCE RESOURCE THAT PROVIDES THE KNOWLEDGE, SERVICES AND ACCESS TO CAPITAL NEEDED TO CREATE JOBS, GROW BUSINESSES AND BUILD COMMUNITIES. 0 0 6806147 367970 8700649 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. 6806147 1 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 43 0 63 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X MARCIE MAHUTA 6088190390 5202 EASTPARK BOULEVARD SUITE 109 MADISON WI 53718 DAN SCHNEIDER CORPORATE EXECUTIVE OFFICER 40.00 X X 385050 0 88479 CRAIG ADERHOLD CHAIR 1.00 X X 4188 0 0 PATRICK SCHLOSS VICE CHAIR 1.00 X X 3450 0 0 BARBARA LAMUE SECRETARY 1.00 X X 2900 0 0 TIMOTHY SCHNEIDER DIRECTOR 1.00 X 2563 0 0 WILLIAM MITCHELL DIRECTOR 1.00 X 3550 0 0 DAVE PROVANCHER DIRECTOR 1.00 X 2000 0 0 THOMAS MEWS DIRECTOR 1.00 X 2050 0 0 STEVEN PETERSON DIRECTOR 1.00 X 3500 0 0 PAM CHRISTENSON DIRECTOR 1.00 X 700 0 0 DAVID BORCHARDT DIRECTOR 1.00 X 1950 0 0 SHAWN WELLNITZ DIRECTOR 1.00 X 0 0 0 RANDAL KYLE DIRECTOR OF GOVERNANCE & COMPLIANCE 8.00 X 108705 0 0 WENDA ROYCRAFT SENIOR VP & CORP CREDIT OFFICER 40.00 X 295199 0 43046 STEPHEN KOHL VP & LOAN OFFICER 40.00 X 249599 0 43539 JASON MONNETT SENIOR VP & SENIOR LENDER 40.00 X 262741 0 49772 NICHOLAS DREWSEN VP & LOAN OFFICER 40.00 X 228413 0 21367 LANCE WALTER SENIOR VP MARKETING & COMMUNICATIONS 40.00 X 211718 0 57831 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 40.00 X 210680 0 49897 1978956 0 353931 12 0 1 0 STAFFORD ROSENBAUM LLP PO BOX 1784 MADISON WI 53701 ATTORNEY FEES 266837 GECK DUEA & OLSON PLLC 4770 WHITE BEAR PKWY SUITE 100 WHITE BEAR LAKE MN 55110 ATTORNEY FEES 211532 WIPFLI LLP PO BOX 8700 MADISON WI 53713 ACCOUNTING AND IT SERVICES 164267 3 FEES FROM LENDING ACTIVITIES 522291 7505127 7505127 FLOAT INTEREST EARNED 522291 1045542 1045542 LENDER SERVICES & TRAININGS 522291 149980 149980 8700649 386950 386950 2012710 1981264 6890 31446 -6890 24556 24556 21725 21725 21725 9133880 8700649 0 433231 367970 367970 892475 743328 149147 4389359 3655824 733535 296523 246969 49554 431137 359087 72050 338929 282288 56641 4763 4763 28034 28034 46002 46002 69361 69361 125916 104873 21043 392586 322249 70337 349676 291240 58436 54692 45457 9235 114775 95594 19181 35446 29522 5924 59080 49207 9873 BAD DEBT EXPENSE 192440 192440 DUES AND SUBSCRIPTIONS 17241 14360 2881 6890 5739 1151 8213295 6806147 1407148 0 310558 223216 4217947 3517662 2004322 2492005 104147 56907 82782 111731 454268 404157 87931 50111 7383241 9249535 617801 469806 60163 613782 14868892 16784755 2663575 2380905 15175 12000 1254144 1900020 3932894 4292925 X 10935998 12491830 10935998 12491830 14868892 16784755 920585 635247 0 X 0 1 X 1 0 X 140000 140000 6774193 7446090 8551161 9303397 8700649 40775490 23276 9800 16594 38211 21725 109606 6937469 7455890 8567755 9341608 8722374 41025096 0 0 0 41025096 151654 163894 179681 183370 386950 1065549 151654 163894 179681 183370 386950 1065549 7089123 7619784 8747436 9524978 9109324 42090645 0.97470 0.98040 0.02530 0.01960 X 0 0 0 0 0 0 1 1419 0 0 1419 0 2676 2676 0 397842 347731 50111 53750 53750 0 50111 APPLICATION DEPOSITS 1344422 OPERATING LEASE LIABILITIES 555598 1900020 X PART X, LINE 2: FINANCIAL ACCOUNTING STANDARDS REQUIRE AN ORGANIZATION TO DETERMINE WHETHER IT'S MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION ON THE TECHNICAL MERITS OF THE POSITION ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THERE ARE NO RECORDED ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. 1 NEW NORTH INC 600 N ADAMS S GREEN BAY WI 54301 260114487 501(C)(3) 0 29000 CREATE SIX ENTREPRENEURIAL PITCH CONTESTS IN PARTNERSHIP WITH NINE COUNTY ECONOMIC DEVELOPMENT CORPORATIONS WISCONSIN ECONOMIC DEVELOPMENT ASSOCIATION INC 2801 INTERNATIONAL LN SUITE 106 MADISON WI 53704 510180680 501(C)(6) 0 84000 PROVIDE EMPLOYEE AND CONTRACTOR COSTS, SCHOLARSHIP, WEBSITE UPGRADE, AND EXPLORE AND MATCH NEW PUBLIC GRANTS RED LETTER GRANT PO BOX 1845 EAU CLAIRE WI 54702 830519998 501(C)(3) 0 62000 PROVIDING START-UP CAPITAL GRANTS TO WOMEN ENTREPRENEUERS AND FUND PART-TIME PROGRAM DIRECTOR. FAMILY FRIENDLY WORKPLACES 2466 COUNTY RD DD WOODVILLE WI 54028 842358709 501(C)(3) 0 50000 SUPPORT THE GENERAL OPERATIONS SO THEY MAY CONTINUE TO GROW ITS NETWORK. FOR-M FOUNDATION INC PO BOX 125 MILWAUKEE WI 53201 844165560 501(C)(6) 0 50000 SUPPORT 10 WEEK PROGRAM TO PROVIDE EARLY STAGE COMPANIES WITH OPPORTUNITIES FOR LEARNING AND MENTORSHIP TO GROW THEIR BUSINESSES LATINO ACADEMY OF WORKFORCE DEVELOPMENT 2909 LANDMARK PL SUITE 203 MADISON WI 53713 872679293 501(C)(3) 0 50000 SUPPORT A MORE ACCESSIBLE TRUCK DRIVING TRAINING PROGRAM TO PROVDE CDL CREDENTIALS AND ADDRESS THE NEED FOR TRANSPORTATION WORKERS SALUTE THE TROOPS INC 27 3RD ST SUITE A FOND DU LAC WI 54935 454968314 501(C)(3) 0 25000 FUND A SEVEN-WEEK VETEREN-ONLY SMALL BUSINESS ACCELERATOR, MENTORSHIP AND GRANT PROGRAM. PROGRESS LAKESHORE 202 N 8TH ST MANITOWOC WI 54220 200419691 501(C)(6) 0 10000 SUPPORT A FEASIBILITY STUDY ON OPERATING A TECH INCUBATOR IN MANITOWOC COUNTY, WI 6 3 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS THROUGH COMPLIANCE OF PROGRAM FUNDING SOURCE REQUIREMENTS. X X X X 0 0 0 0 0 0 0 0 0 DAN SCHNEIDER CORPORATE EXECUTIVE OFFICER 246400 0 100000 0 38650 0 69046 0 19433 0 473529 0 0 0 WENDA ROYCRAFT SENIOR VP & CORP CREDIT OFFICER 195462 0 79605 0 20132 0 41534 0 1512 0 338245 0 0 0 JASON MONNETT SENIOR VP & SENIOR LENDER 170462 0 70297 0 21982 0 41591 0 8181 0 312513 0 0 0 STEPHEN KOHL VP & LOAN OFFICER 128845 0 120754 0 0 0 24106 0 19433 0 293138 0 0 0 LANCE WALTER SENIOR VP MARKETING & COMMUNICATIONS 141346 0 56335 0 14037 0 38398 0 19433 0 269549 0 0 0 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 148462 0 52208 0 10010 0 38022 0 11875 0 260577 0 0 0 NICHOLAS DREWSEN VP & LOAN OFFICER 126731 0 100096 0 1586 0 20299 0 1068 0 249780 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 IS REVIEWED BY THE SENIOR VP OF FINANCE & ADMIN. A FINAL DRAFT OF FORM 990 PROVIDED TO ALL MEMBERS OF THE AUDIT & FINANCE COMMITTEE FOR REVIEW AND TO THE BOARD OF DIRECTORS FOR FINAL APPROVAL. THE COMPLETED FORM 990 IS POSTED TO THE SECURE PORTION OF THE ORGANIZATION'S WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEE SIGNED ACKNOWLEDGEMENTS STATING UNDERSTANDING OF THE POLICY ARE COLLECTED ANNUALLY. BOARD AND COMMITTEE MEMBERS ABSTAIN FROM VOTING ON AN ISSUE IF THERE IS A CONFLICT OR PERCEIVED CONFLICT. U.S. SMALL BUSINESS ADMINSTRATION REGULATORY COMPLIANCE REQUIRE THE ORGANIZATION TO REPORT CONFLICTS OF INTEREST. DIRECTORS RESPOND TO A SURVEY THAT INQUIRES ABOUT OTHER BOARD PARTICIPATION AND INVOLVEMENT. THOSE BOARD RESPONSES ARE REVIEWED TO ASSURE POLICY COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR SETTING THE COMPENSATION OF THE CORPORATE EXECUTIVE OFFICER. A PERIODIC MARKET SURVEY IS CONDUCTED THROUGH USE OF A LABOR CONSULTANT AND USED WHEN REVIEWING EXECUTIVE COMPENSATION. THE COMPENSATION OF THE OTHER MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM IS REVIEWED AND SET BY THE CORPORATE EXECUTIVE OFFICER. THE BOARD, THROUGH APPROVAL OF THE OVERALL OPERATING BUDGET, REVIEWS AND APPROVES COMPENSATION AND BONUS PAYMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. WBD SERVICE COMPANY LLC 5202 EASTPARK BOULEVARD ST 109 MADISON WI 53718 352289288 LOAN UNDERWRITING, SERVICING, AND COMPLIANCE WI 149980 199702 WBD INC