Western Reserve Community Fund Inc

Nonprofit profile at a glance

EIN
833858451
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Akron, OH, USA
Phone
3307624776
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$2,490,684
Expenses
$1,624,471
Assets
$12,683,642
Liabilities
$3,539,995

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • ERIN WOJNO (PRESIDENT)
  • MELISSA FRANK (VICE PRESIDENT)
  • RACHEL BRIDENSTINE (EXECUTIVE DIRECTOR)

People named in this filing

  • ERIN WOJNO (PRESIDENT)
  • MELISSA FRANK (VICE PRESIDENT)
  • RENAYE BRAUNING (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

In furtherance thereof, the corporation shall be organized to support and further community development and job creation in the state of Ohio and will initially focus on the 5-county region of medina, portage, stark, summit, and wayne.

What it reported doing in 2024

Western reserve community fund, inc. (the organization) is a nonprofit organization incorporated on march 7, 2019. It was created to help fill the gap in access to capital and provide support in disinvested areas where traditional lenders deem too risky to finance or be the sole lender. The organization's target market is low-income populations and census tracts within summit, medina, portage, stark and wayne counties. The organization was certified as a community development financial institution during calendar year 2024.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 62
  • Accountability: 88
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.7%; rating input score 58
  • Program expense ratio: 88.4%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 65.5%; rating input score 65; 18th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.8%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 7.81; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 45.1% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 33.2% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 57.7% of revenue deployed · 88.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.