2025-09-17T10:02:10-05:00 2024-12-31 943108253 NOVOGRADAC & COMPANY LLP 1300 EAST 9TH ST SUITE 900 CLEVELAND OH 44114 990 2024-01-01 452495397 DEVELOPMENT FUND OF WESTERN RESERVE INC DEVE 3307624776 1 CASCADE PLAZA 1700 AKRON OH 44308 RACHEL BRIDENSTINE CFO 3307624776 2025-09-16 1 1 ANNETTE STEVENSON P01062362 2162989000 2025-09-11 2024 2025-03-06 01:10:19Z CHAD MAYLE 1 CASCADE PLAZA SUITE 1700 AKRON OH 44308 3005151 0 X HTTP://WWW.DEVELOPMENTFINANCEAUTHORITY.ORG/ X 2011 OH TO SERVE AND PROVIDE INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS. 7 7 0 0 0 0 0 0 1433111 1206434 0 62956 0 1735761 1433111 3005151 555000 200000 0 0 0 0 0 0 42258 968921 881608 1523921 1081608 -90810 1923543 6695086 8636672 2832980 2836958 3862106 5799714 TO SERVE AND PROVIDE INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS. 0 0 937991 200000 3005151 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. 937991 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 0 0 0 1 1 X X CHAD MAYLE 3307624776 1 CASCADE PLAZA SUITE 1700 AKRON OH 44308 CAMEO CAREY MEMBER 0.00 X 0 0 0 ERIN WOJNO SECRETARY 0.00 X 0 0 0 HARRY EADON TREASURER 0.00 X 0 0 0 SARAH LOWN MEMBER 0.00 X 0 0 0 JOE ROSSI PRESIDENT 0.00 X 0 0 0 RACHEL BRIDENSTINE EXECUTIVE DIRECTOR 1.00 40.00 X 0 132513 0 CHAD MAYLE CFO 1.00 40.00 X 0 111367 0 0 243880 0 0 0 0 0 0 ADMIN FEES 523940 525000 525000 ASSET MANAGEMENT FEES 523940 405674 405674 INTEREST INCOME - NMTC 523940 146666 146666 SUB-CDE AUDIT/TAX REIM 523940 123500 123500 EVENT SPONSORSHIP 523940 5500 5500 94 94 1206434 62956 62956 GAIN ON PURCHASE 523940 1735761 1735761 1735761 3005151 3005151 0 0 200000 200000 4974 4974 164600 164600 4788 4788 8023 8023 99900 99900 8278 8278 8647 8647 SUPPORT SERVICES - DFA 550000 411171 96571 42258 PROFESSIONAL MEMBERSHIP 5925 5925 BANK FEES 3591 3591 APPLICATION FEES 2225 2225 20657 20657 1081608 937991 101359 42258 1851322 603232 1537940 28323 3 6262000 7517 7691 34783 35845 30926 23813 4742215 166148 6695086 8636672 68476 20954 1494504 1496004 1270000 1320000 2832980 2836958 X 3814966 5768766 47140 30948 3862106 5799714 6695086 8636672 X 1923543 14065 X X 0 1 X 1 0 X X 1 DEVELOPMENT FINANCE AUTHORITY OF SUMMITY COUNTY 341765940 6 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 NOTE PAYABLE - RELATED PARTY 1270000 RESTRICTED DEPOSIT 50000 1320000 X 3005151 0 3005151 0 3005151 1067543 0 1067543 14065 14065 1081608 PART X, LINE 2: THE PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE CORPORATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE CORPORATION. MANAGEMENT HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE CORPORATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE CORPORATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. PART XII, LINE 4B - OTHER ADJUSTMENTS: AMORTIZATION EXPENSE BAD DEBT RECOVERY 1 WESTERN RESERVE COMMUNITY FUND INC 75 EAST MARKET ST AKRON OH 44308 833858451 501(C)(3) 200000 0 GAAP THE GRANT FUNDS SHALL BE USED TO HELP FINANCE PROJECTS ORGANIZED TO SUPPORT FURTHER ECONOMIC DEVELOPMENT AND JOB CREATION IN NORTHEAST OHIO. PART I, LINE 2: FINANCIAL REPORTS FROM THE GRANTEE ARE PROVIDED AT LEAST ANNUALLY AND ARE PRESENTED TO DEVELOPMENT FUND OF WESTERN RESERVE, INC.'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER IS DEVELOPMENT FINANCE AUTHORITY OF SUMMIT COUNTY ("DFA") FORM 990, PART VI, SECTION A, LINE 7A DEVELOPMENT FUND OF WESTERN RESERVES BOARD IS APPOINTED BY DFA. FORM 990, PART VI, SECTION A, LINE 7B THERE ARE NO GOVERNANCE DECISIONS RESERVED FOR THE MEMBER OF THE ORGANIZATION OTHER THAN THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION REVIEWS THE DRAFT FORM 990 PREPARED BY THE ACCOUNTING FIRM BEFORE THE FINAL IS RELEASED. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST FORM IS REQUIRED TO BE COMPLETED BY EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS AND ADVIDORY BOARD ANNUALLY AND MONITORED. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART XI, LINE 9: GAAP TO TAX DIFFERENCES 14,065. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES IN THE OVERSIGHT OR SELECTION PROCESS OF AN INDEPENTENT ACCOUNTANT. 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