WELL COMMUNITY DEVELOPMENT CORPORATION

Financials

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.

Address and contacts

Address (IRS master file)

647 E MARKET ST, AKRON, OH 44304-1620

In care of

% ZACHARY D KOHL

Principal officer (990 for 2024)

ZACHARY KOHL, 647 E MARKET STREET, AKRON, OH 44304

Signed the 990

ZACHARY KOHL, EXECUTIVE DIRECTOR

Phone

(330) 815-1062

Website

THEWELLAKRON.COM

Return prepared by

SIKICH LLC

Mission

THE WELL CDC INVESTS IN PEOPLE THROUGH THE BUILT ENVIRONMENT.

Program accomplishments

• RESTORING HOUSING: NEARLY A FOURTH OF ALL HOMES IN MIDDLEBURY ARE VACANT; ONLY 30% OF HOMES ARE OWNER OCCUPIED, COMPARED TO A HEALTHY HOME OWNERSHIP RATE OF 60-70%; AND MORE THAN HALF OF RESIDENTS PAY 30% OR MORE OF THEIR INCOME ON HOUSING COSTS, OFTEN FOR SUBSTANDARD CONDITIONS.THE WELL CDC'S RESTORING HOUSING INITIATIVE IS FOCUSED ON DEVELOPING A HEALTHY HOUSING PIPELINE THAT PROVIDES RESIDENTS WITH THE POWER TO CHOOSE THE TYPE OF HOUSING THAT FITS THEIR CURRENT CONTEXT AND FUTURE ASPIRATIONS. THE WELL'S GOAL IS TO SUPPORT THE ENTIRE SPECTRUM OF HOUSING NEEDS WITHIN THE COMMUNITY INCLUDING BOTH THE RENOVATION OF EXISTING HOUSING AND "MISSING MIDDLE" NEWLY CONSTRUCTED HOUSING (DUPLEXES, TRIPLEXES, QUADS).THE ORGANIZATION INTENDS TO INFLUENCE THE HOUSING MARKET AND MAINTAIN HOUSING AFFORDABILITY BY OWNING 15% OF ALL NEIGHBORHOOD RENTALS BY 2032, BY ACQUIRING 270 EXISTING HOUSES AND BUILDING 125 NEW UNITS. CURRENTLY, THE WELL OWNS 117 PROPERTIES AND HAS COMPLETED OR IS IN THE PROCESS OF CONSTRUCTING 3 DUPLEXES.TO ENABLE A PATHWAY TO HOMEOWNERSHIP, THE WELL CDC DELIVERS HOLISTIC PROGRAMS AND SERVICES THAT PROMOTE RESIDENT STABILITY THROUGH RESPONSIBLE TENANCY, WORKFORCE DEVELOPMENT, LOCAL SCHOOL SUPPORT AND SUPPORT FOR MENTAL HEALTH AND WELLNESS.
  Expenses $1,125,947 · revenue $857,343
• CREATING ECONOMY:FEWER THAN 1% OF RESIDENTS BOTH LIVE AND WORK IN THE NEIGHBORHOOD WHILE EMPLOYERS IN MIDDLEBURY HAVE THOUSANDS OF UNFILLED JOBS AND THE AREA'S UNEMPLOYMENT RATE IS CONSISTENTLY DOUBLE THAT OF GREATER AKRON. IN ADDITION, THERE ARE FEW SPACES OR INCENTIVES FOR ENTREPRENEURS TO ESTABLISH NEW BUSINESSES THAT COULD INCREASE COMMERCE AND JOB CREATION IN MIDDLEBURY.TO COMBAT THIS REALITY, THE WELL'S CREATING ECONOMY INITIATIVE AIMS TO BRIDGE THE GAP BETWEEN THE JOB SKILLS OF RESIDENTS AND THE NEEDS OF LOCAL EMPLOYERS, ENCOURAGE THE ADAPTIVE REUSE OF OUR CURRENT ASSETS TO SUPPORT ENTREPRENEURSHIP, AND ENGAGE WITH ANCHOR INSTITUTIONS. THE WELL CDC OFFERS SEVERAL PROGRAMS TO SUPPORT THIS INITIATIVE:- AKRON FOOD WORKS (AFW) SUPPORTS FOOD ENTREPRENEURSHIP BY HELPING ENTREPRENEURS CREATE, INCUBATE, AND ELEVATE THEIR FOOD BUSINESSES. AFW REMOVES BARRIERS TO THOSE WISHING TO ENTER THE FOOD SECTOR BY OFFERING A LICENSED PHYSICAL SPACE FOR FOOD PREPARATION WITH COMMERCIAL GRADE EQUIPMENT, ON-SITE TRAINING AND TECHNICAL ASSISTANCE, AND BY CONNECTING ENTREPRENEURS TO SALES OPPORTUNITIES TO GROW THEIR BUSINESS. THE WELL CAN ALSO OFFER AFW BUSINESSES OPPORTUNITIES TO LEASE AFFORDABLE QUALITY SPACES WITHIN OUR COMMERCIAL DEVELOPMENT PROJECTS.- 647 COFFEE OPERATES AS A SUCCESSFUL SOCIAL ENTERPRISE, WITH THE COFFEE SHOP CREATING A SENSE OF PLACE FOR NEIGHBORS AND SERVING AS THE FRONT PORCH TO THE WELL CDC AND THE MIDDLEBURY NEIGHBORHOOD. PROFITS ARE RETURNED TO THE NEIGHBORHOOD BY SUPPORTING THE WELL'S COMMUNITY DEVELOPMENT PROGRAMMING.- CAREER DEVELOPMENT IS A PARTNERSHIP OF 20+ COMMUNITY-BASED ORGANIZATIONS AND EMPLOYERS THAT DELIVER A COLLABORATIVE, TRAUMA INFORMED APPROACH TO WORKFORCE DEVELOPMENT THAT REMOVES BARRIERS TO QUALITY, LIVING WAGE JOBS. THE PROGRAM SUPPORTS UPWARD ECONOMIC MOBILITY AND FINANCIAL RESILIENCY FOR WOMEN WHO HAVE NOT HAD THE RESOURCES TO PURSUE AN EDUCATION OR CAREER INCLUDING THOSE WITHOUT HIGH SCHOOL DIPLOMAS OR WHO HAVE CRIMINAL BACKGROUNDS.- COMMERCIAL REDEVELOPMENT OF EXISTING, OFTEN BLIGHTED, SPACES IN MIDDLEBURY BY THE WELL PRESERVE THE BONES OF THE NEIGHBORHOOD WHILE CREATING ENTREPRENEURIAL AND EMPLOYMENT OPPORTUNITIES WITHIN THOSE SPACES. DEVELOPMENT PROJECTS CURRENTLY INCLUDE 647 E MARKET ST, 221 BEAVER ST, 911-917 E. MARKET ST, AND 816 E MARKET ST AS OF 2024, THE WELL CDC HAD SUPPORTED OVER 150 AKRON FOOD WORKS KITCHEN USERS, ENGAGED 238 WOMEN FROM THE CAREER DEVELOPMENT PROGRAM WITH GRADUATION RATES RECENTLY EXCEEDING 80%, AND CONTINUED SERVING AS A SOURCE FOR ENTREPRENEURIAL OPPORTUNITIES, ECONOMIC MOBILITY, AND SOCIAL COHESION THROUGH 647 COFFEE, UPGRADED COMMERCIAL SPACES, AND SCHOOL AND COMMUNITY-BASED PROGRAMMING.
  Expenses $929,876
• SUPPORTING PLACE:MASON CLC, THE PREK-5TH GRADE ELEMENTARY SCHOOL SERVING MIDDLEBURY, HAS A 50+% STUDENT MOBILITY RATE. TO COMBAT THIS REALITY, THE WELL CDC SEEKS TO DEVELOP DEEPER SOCIAL COHESION WITHIN MIDDLEBURY, NOT ONLY TO DECREASE THE TRANSIENCY RATE, BUT TO CONNECT PEOPLE TO THE PLACE THEY LIVE AND TO EACH OTHER THROUGH THE BUILT ENVIRONMENT. THE WELL'S AKRON HOPE PROGRAM BUILDS RELATIONSHIPS AND INVESTS RESOURCES IN STUDENTS, FAMILIES, AND TEACHERS TO INCREASE ENGAGEMENT AND FAMILY STABILITY IN A PLACE WHERE THE COMMUNITY NATURALLY GATHERS. AKRON HOPE PARTNERS WITH MASON CLC TO PROVIDE CLASSROOM TUTORING, COMMUNITY CONNECTIONS, AND HOLIDAY OUTREACH EVENTS.IN 2024, THE WELL CDC HELD 10 COMMUNITY CONNECTION EVENTS AND SUPPORTED OVER 700 STUDENTS THROUGH PROGRAMS AT MASON CLC AS WELL AS HELEN ARNOLD CLC, A SIMILARLY SITUATED SCHOOL IN AKRON'S INNER CORE, AND ALSO HOSTED 2 LARGE SCALE NEIGHBORHOOD WIDE FAMILY FRIENDLY EVENTS.
  Expenses $318,667
• OTHER PROGRAM SERVICES - OPERATIONS
  revenue $153,337

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.

IRS record

EIN

81-2680851

Tax-exempt status

501(c)(3): Charitable, religious, educational or scientific organization

Foundation status

Publicly supported organization (170(b)(1)(A)(vi))

Donations deductible (Pub 78)

Public charity, 50% deduction limit

Exempt since

2017

Accounting year ends

December

Files

Form 990 or 990-EZ

Category (NTEE)

Community improvement and capacity building (S30)

Assets (IRS master file)

$13,876,989

Income (IRS master file)

$6,910,264

Filing history

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 81-2680851).

Questions about WELL COMMUNITY DEVELOPMENT CORPORATION

What is the EIN of WELL COMMUNITY DEVELOPMENT CORPORATION?

The employer identification number (EIN) of WELL COMMUNITY DEVELOPMENT CORPORATION is 81-2680851.

Is WELL COMMUNITY DEVELOPMENT CORPORATION tax-exempt?

Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.

Are donations to WELL COMMUNITY DEVELOPMENT CORPORATION tax-deductible?

Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).

Which annual return does WELL COMMUNITY DEVELOPMENT CORPORATION 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 WELL COMMUNITY DEVELOPMENT CORPORATION 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 WELL COMMUNITY DEVELOPMENT CORPORATION 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 WELL COMMUNITY DEVELOPMENT CORPORATION?

The 990 for the year ended December 31, 2024 names ZACHARY KOHL.

Who are the officers and directors of WELL COMMUNITY DEVELOPMENT CORPORATION?

The 990 for the year ended December 31, 2024 lists 17 people; 2 received compensation from the organization, the highest $137,569 (ZACHARY KOHL, EXECUTIVE DIRECTOR).

How much revenue does WELL COMMUNITY DEVELOPMENT CORPORATION have?

On its 990 for the year ended December 31, 2024 it reported revenue of $6,212,161, expenses of $2,810,520 and total assets of $13,876,989 at year end.

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