Wbd Inc
- Assets
- $14.9m
- Revenue
- $9.4m
- Investments
- $617.8k
- Employees
- 53
- Location
- Madison, WI
- Founding
- 07/1982
- Data as of
- 09/2022
- EIN
- 39-1400466
Organization Overview
Wbd Inc is located in Madison, WI. The organization was established in 1982. 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 09/2022, Wbd Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wbd 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 09/2022, Wbd Inc generated $9.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $8.3m during the year ending 09/2022. While expenses have increased by 5.3% per year over the past 7 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.
Since 2015, Wbd Inc has awarded 28 individual grants totaling $1,592,750. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST SMALL BUSINESSES TO OBTAIN CAPITAL FROM THE SBA TO SUPPORT JOB CREATION AND RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 9/30/22, WBD'S SBA 504 PORTFOLIO INCLUDED 1,613 LOANS TOTALING $954,318,653. DURING THE REPORTING PERIOD 315 NEW LOANS WERE AUTHORIZED FOR OVER $270 MILLION AS A PART OF PROJECTS TOTALING OVER $744 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE AN ADDITIONAL 2,770 JOBS. WBD CURRENTLY PROVIDES ACCESS TO FINANCING FOR THOUSANDS OF BUSINESSES THROUGHOUT WISCONSIN, IN 14 COUNTIES IN MINNESOTA (LARGELY THE TWIN CITIES AREA), AND WISCONSIN-BORDER AREAS IN THE UPPER PENINSULA OF MICHIGAN. SINCE 1981 WBD HAS HELPED CREATE MORE THAN 74,000 JOBS. THIS PAST YEAR, WBD RANKED AS THE 7TH MOST ACTIVE CDC IN THE NATION, BASED ON DOLLAR VOLUME OUT OF ROUGHLY 200 CDCS IN THE U.S. THROUGH OUR LLC AFFILIATE, WBD SERVICE COMPANY, 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) AND COMMUNITY REINVESTMENT FUND PROGRAMS, ALONG WITH OTHER NATIONAL, STATE, AND LOCAL PROGRAMS, 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 56 - 7(A) LOANS VALUED AT OVER $54 MILLION. THESE LOANS SUPPORTED THE CREATION OF 238 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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Schneider Corporate Executive Officer | OfficerTrustee | 40 | $370,857 |
Wenda Roycraft Senior VP & Corp Credit Officer | Officer | 40 | $276,484 |
Jason Monnett Senior VP & Senior Lender | 40 | $248,324 | |
Stephen Kohl VP & Loan Officer | 40 | $246,868 | |
Nicholas Drewsen VP & Loan Officer | 40 | $200,119 | |
Marcie Mahuta Senior VP Of Finance & Admin | 40 | $194,666 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stafford Rosenbaum Llp Attorney Fees | 9/29/22 | $323,208 |
Geck Duea & Olson Pllc Attorney Fees | 9/29/22 | $182,325 |
Wipfli Llp Accounting And It Services | 9/29/22 | $149,575 |
Law Firm Of Conway Olejniczak & Jerry Legal Fees | 9/29/22 | $105,733 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,303,397 |
| Investment income | $183,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$125,823 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,399,155 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $402,105 |
| 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. | $866,811 |
| Compensation of current officers, directors, key employees. | $157,503 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,571,478 |
| Pension plan accruals and contributions | $418,258 |
| Other employee benefits | $375,315 |
| Payroll taxes | $340,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,757 |
| Fees for services: Accounting | $21,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,342 |
| Fees for services: Other | $75,595 |
| Advertising and promotion | $139,761 |
| Office expenses | $439,669 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $329,273 |
| Travel | $54,495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,280 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,309 |
| Insurance | $52,211 |
| All other expenses | $0 |
| Total functional expenses | $8,330,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $310,558 |
| Savings and temporary cash investments | $4,217,947 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,004,322 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $104,147 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $82,782 |
| Net Land, buildings, and equipment | $87,931 |
| Investments—publicly traded securities | $7,383,241 |
| Investments—other securities | $617,801 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,163 |
| Total assets | $14,868,892 |
| Accounts payable and accrued expenses | $2,663,575 |
| Grants payable | $0 |
| Deferred revenue | $15,175 |
| 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 | $1,254,144 |
| Total liabilities | $3,932,894 |
| Net assets without donor restrictions | $10,935,998 |
| Net assets with donor restrictions | $0 |
| 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 | $14,868,892 |
Grants Awarded
Over the last fiscal year, Wbd Inc has awarded $399,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Milwaukee, WI PURPOSE: SUPPORT THE LAUNCH OF KIVA-SE BY COVERING EXPENSE OF ONE PART-TIME STAFF THAT SUPPORTS AND TRAINS MICORENTERPRISES | $100,000 |
Duluth, MN PURPOSE: CREATE THE INVESTOR NETWORK INITIATIVE TO PROVIDE SUPPORT TO REGION'S ENTREPRENEUERS. | $100,000 |
Milwaukee, WI PURPOSE: VETWORKS WISCONSIN - FUND POSITION WTH WISONSIN VETERENS CHAMBER OF COMMERCE TO BUILD A NEW TALENT PIPELINE FOR TRANSITIONING SERVICE MEMBERS SELECTING WISCONSIN AS THEIR HOME | $100,000 |
Madison, WI PURPOSE: FUND EDUCATION SCHOLARSHIPS FOR ECONOMIC DEVELOPMENT PROFESSIONALS, FUND POSITIONS TO IMPROVE STATEWIDE ECONOMIC PROGRAMMING, UPGRADE WEBSITE AND COMMISSION A WISCONSIN CHILDCARE AND LITERATURE REVIEW TO IDENTIFY ISSUES AROUND THE SCARCITY OF AFFORDABLE CHILDCARE AND IMPACT ON THE WORKFORCE. | $87,000 |
Green Bay, WI PURPOSE: CREATE SIX ENTREPRENEURIAL PITCH CONTESTS IN PARTNERSHIP WITH NINE COUNTY ECONOMIC DEVELOPMENT CORPORATIONS | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |
Wenonah Park Properties Inc Bay City, MI | $22,411,152 | $7,079,713 |