2025-11-12T14:31:17-06:00 2024-12-31 363168081 SIKICH LLC 4020 KINROSS LAKES PARKWAY SUITE 300 RICHFIELD OH 44286 990 2024-01-01 833858451 WESTERN RESERVE COMMUNITY FUND INC WEST 3307624776 ONE CASCADE PLAZA 1700 AKRON OH 44308 RACHEL BRIDENSTINE EXECUTIVE DIRECTOR 3307624776 2025-11-12 1 0 BRIDGETTE MUGGE P00671418 3308646661 2025-11-12 2024 2025-03-06 01:10:19Z RACHEL BRIDENSTINE ONE CASCADE PLAZA 1700 AKRON OH 44308 2490684 0 X WWW.DEVELOPMENTFINANCEAUTHORITY.ORG X 2019 OH ORGANIZED TO SUPPORT AND FURTHER COMMUNITY DEVELOPMENT AND JOB CREATION IN THE STATE OF OHIO. 6 6 0 6 0 0 3178242 2080405 163399 321315 0 0 52312 88964 3393953 2490684 386280 290135 0 0 0 0 0 0 0 994991 1334336 1381271 1624471 2012682 866213 11629184 12683642 3351750 3539995 8277434 9143647 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. 0 0 1436743 290135 410279 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. 1436743 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 OH X X RACHEL BRIDENSTINE 3307624776 47 NORTH MAIN STREET SUITE 407 AKRON OH 44308 X ERIN WOJNO PRESIDENT 1.00 X X 0 0 0 MELISSA FRANK VICE PRESIDENT 1.00 X X 0 0 0 RENAYE BRAUNING TREASURER 1.00 X X 0 0 0 JOHN WILLIAMS SECRETARY 1.00 X X 0 0 0 JESSICA SUBLETT MEMBER 1.00 X 0 0 0 ROBERT DEJOURNETT MEMBER 1.00 X 0 0 0 RACHEL BRIDENSTINE EXECUTIVE DIRECTOR 16.00 X 0 0 0 CHAD MAYLE CFO 12.00 X 0 0 0 JESSICA MCRITCHIE COO 12.00 X 0 0 0 LORI SALLAZ MANAGER, BOND FINANCE 12.00 X 0 0 0 0 0 0 0 0 0 1 0 581250 1499155 2080405 INTEREST FROM PROGRAM 900099 268413 268413 LOAN FEE ORIGINATION 900099 52902 52902 321315 OTHER INCOME 900099 88964 88964 88964 2490684 410279 0 0 290135 290135 500000 500000 10926 10926 21100 21100 85605 85605 1430 1430 2799 2799 14149 14149 76699 76699 12144 12144 BAD DEBT 298318 298318 LOAN RETURN EXPENSE 251759 251759 EQUIPMENT 26186 26186 BANK SERVICE CHARGE 20732 20732 12489 12489 1624471 1436743 187728 0 6251922 5706477 67000 330000 49648 69332 9488 11846 5251126 6565987 11629184 12683642 251750 202144 100000 150000 3000000 3187851 3351750 3539995 X 4184470 6200961 4092964 2942686 8277434 9143647 11629184 12683642 866213 0 X 0 1 X 0 0 X 1931500 1498198 3189924 3178242 2080405 11878269 164441 166350 330791 1931500 1498198 3189924 3342683 2246755 12209060 2754095 9454965 12209060 861866 0.77440 0.80850 X PART II, LINE 13 THE ORGANIZATION WAS INCORPORATED ON MARCH 7, 2019. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 PROGRAM RELATED NOTES RECEIVABLE 6565987 F 6565987 LONG TERM RELATED PARTY NOTE PAYABLE 3000000 OTHER LONG TERM LIABILITY 187851 3187851 X 2657034 166350 166350 2490684 0 2490684 1790821 166350 166350 1624471 0 1624471 PART X, LINE 2: WESTERN RESERVE COMMUNITY FUND, INC. IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE ORGANIZATION HAS NOT RECORDED PROVISIONS FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. THE ORGANIZATION FOLLOWS GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ON ACCOUNTING FOR INCOME TAXES AND HAS EVALUATED ITS TAX POSITIONS, EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGE IN TAX LAW AND NEW AUTHORITATIVE RULINGS, AND BELIEVES THAT NO PROVISION FOR INCOME TAXES IS NECESSARY TO COVER ANY UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S RETURNS FOR TAX YEARS 2021 AND LATER REMAIN SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. 1 INDIA INK TATTOO 21 FURNACE STREET SUITE 404P AKRON OH 44308 884324385 0 20000 WORKING CAPITAL AND EQUIPMENT PURCHASE ENVISION SALON SUITES 1681 SUNSET AVE AKRON OH 44301 932919014 0 30000 WORKING CAPITAL THE ENG EFFECT LLC 1893 TRIPLETT BLVD AKRON OH 44312 874623648 0 30000 WORKING CAPITAL AND EQUIPMENT PURCHASE THE SMOOTHIE STAND & CO LLC 82 KUDER AVE AKRON OH 44303 824995533 0 50000 WORKING CAPITAL AND EQUIPMENT PURCHASE BODY ROCK STUDIO (SOULFUL VEAGAN) 1720 MERRIMAN RD AKRON OH 44313 280707347 0 30000 WORKING CAPITAL RUBBER CITY CLOTHING 71 WESTGATE CIRCLE AKRON OH 44313 300669545 0 30000 LOAN CAPITAL FOR MARKETING 0 17 PART I, LINE 2: FOR THE AKRON RESILIENCY FUND RECOVERABLE GRANTS, THE BUSINESS OWNERS ENTER INTO AN AGREEMENT THAT IS IDENTICAL TO AGREEMENTS FOR LOANS MADE UNDER THE PROGRAM. THE AGREEMENT REQUIRES ONGOING REPORTING AND COMPLIANCE, I.E., BUSINESSES MUST MAKE SCHEDULED PAYMENTS, STAY CURRENT ON ALL TAX OBLIGATIONS, SPEND PROCEEDS ON ELIGIBLE EXPENSES, AND PROVIDE QUARTERLY FINANCIAL STATEMENTS TO WRCF THAT ILLUSTRATE HOW PROCEEDS WERE SPENT AND THAT THE BUSINESS IS ACTIVE AND VIABLE. 0 0 0 0 0 0 0 0 0 FORM 990, SCHEDULE J PART III AMOUNT OF COMPENSATION PAID BY DEVELOPMENT FINANCE AUTHORITY OF SUMMIT COUNTY FOR SERVICES RENDERED TO THE ORGANIZATION BY OFFICER: RACHEL BRIDENSTINE - $22,501.44 CHAD MAYLE - $32,186.75 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO BOARD VIA EMAIL WITH REQUEST FOR COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, WRCF PROVIDES ITS BOARD MEMBERS WITH UPDATED CONFLICT OF INTEREST FORMS, TO BE UPDATED, SIGNED AND RETURNED. 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. THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS AND 990 RETURNS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE FOR PUBLIC REVIEW.