Nonprofit · EIN 45-2495397
DEVELOPMENT FUND OF THE WESTERN RESERVE INC
Tax-exempt · AKRON, OH 44308
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,005,151 | $1,081,608 | $1,923,543 | $8,636,672 | $2,836,958 | $5,799,714 |
| December 31, 2023 | 990 | $1,433,111 | $1,523,921 | -$90,810 | $6,695,086 | $2,832,980 | $3,862,106 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,206,434
- Investment income
- $62,956
- Other revenue
- $1,735,761
Expenses
- Grants and similar amounts paid
- $200,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $4,974
- Accounting fees
- $164,600
- Travel
- $8,023
- Depreciation
- $8,278
- Program services (functional)
- $937,991
- Management and general (functional)
- $101,359
- Fundraising (functional)
- $42,258
Balance sheet and other
- Total assets, start of year
- $6,695,086
- Total assets, end of year
- $8,636,672
- Total liabilities, end of year
- $2,836,958
- Net assets, end of year
- $5,799,714
- Net assets without donor restrictions
- $5,768,766
- Net assets with donor restrictions
- $30,948
- Gross receipts
- $3,005,151
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2011
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| RACHEL BRIDENSTINE | EXECUTIVE DIRECTOR Officer | 1 | $0 | $132,513 |
| CHAD MAYLE | CFO Officer | 1 | $0 | $111,367 |
| CAMEO CAREY | MEMBER Trustee or director | 0 | $0 | $0 |
| ERIN WOJNO | SECRETARY Trustee or director | 0 | $0 | $0 |
| HARRY EADON | TREASURER Trustee or director | 0 | $0 | $0 |
| SARAH LOWN | MEMBER Trustee or director | 0 | $0 | $0 |
| JOE ROSSI | PRESIDENT Trustee or director | 0 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| RACHEL BRIDENSTINE | EXECUTIVE DIRECTOR Officer | 1 | $0 | $119,641 |
| CHAD MAYLE | CFO Officer | 1 | $0 | $106,782 |
| PATRICIA MCKAY | MEMBER Trustee or director | 0 | $0 | $0 |
| CAMEO CAREY | MEMBER Trustee or director | 0 | $0 | $0 |
| ERIN WOJNO | SECRETARY Trustee or director | 0 | $0 | $0 |
| HARRY EADON | TREASURER Trustee or director | 0 | $0 | $0 |
| SARAH LOWN | MEMBER Trustee or director | 0 | $0 | $0 |
| JOE ROSSI | PRESIDENT Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1 CASCADE PLZ STE 1700, AKRON, OH 44308-1119
- In care of
- % CHRISTOPHER BURNHAM
- Principal officer (990 for 2024)
- CHAD MAYLE, 1 CASCADE PLAZA SUITE 1700, AKRON, OH 44308
- Signed the 990
- RACHEL BRIDENSTINE, CFO
- Phone
- (330) 762-4776
- Return prepared by
- NOVOGRADAC & COMPANY LLP
Mission
TO SERVE AND PROVIDE INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS.
Program accomplishments
- THE COMPANY IS SERVING AS MANAGING MEMBER FOR WESTERN RESERVE DF AFFILIATE XII, XIII, XV, XIV, XVI, XVII, XVIII, XIX, XX, XXI, XXII, ACRF LENDER, LLC, ALL OF WHOM PROVIDE, DIRECTLY OR INDIRECTLY, INVESTMENT CAPITAL TO QUALIFIED LOW INCOME COMMUNITY BUSINESSES PURSUANT TO THE NEW MARKETS TAX CREDIT PROGRAM.Expenses $937,991 · grants $200,000 · revenue $3,005,151
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-2495397
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2011
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $8,636,672
- Income (IRS master file)
- $3,005,151
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,005,151 | $1,081,608 | $8,636,672 | XML |
| 990 | December 2023 | $1,433,111 | $1,523,921 | $6,695,086 | XML |
| 990 | December 2022 | $1,811,336 | $987,951 | $6,942,255 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-2495397).
Questions about DEVELOPMENT FUND OF THE WESTERN RESERVE INC
- What is the EIN of DEVELOPMENT FUND OF THE WESTERN RESERVE INC?
- The employer identification number (EIN) of DEVELOPMENT FUND OF THE WESTERN RESERVE INC is 45-2495397.
- Is DEVELOPMENT FUND OF THE WESTERN RESERVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2011.
- Are donations to DEVELOPMENT FUND OF THE WESTERN RESERVE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does DEVELOPMENT FUND OF THE WESTERN RESERVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of DEVELOPMENT FUND OF THE WESTERN RESERVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DEVELOPMENT FUND OF THE WESTERN RESERVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of DEVELOPMENT FUND OF THE WESTERN RESERVE INC?
- The 990 for the year ended December 31, 2024 names CHAD MAYLE.
- Who are the officers and directors of DEVELOPMENT FUND OF THE WESTERN RESERVE INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does DEVELOPMENT FUND OF THE WESTERN RESERVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,005,151, expenses of $1,081,608 and total assets of $8,636,672 at year end.
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