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← WESTERN RESERVE REVITALIZATION & MANAGEMENT CO

Form 990 for tax year 2024

Filed by WESTERN RESERVE REVITALIZATION & MANAGEMENT CO.

Totals

Total revenue
$24,503,226
Total expenses
$11,683,538
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$21,816,676
Investment income
$90,957
Other revenue
$2,595,593
Total assets, end of year
$88,372,078
Total liabilities, end of year
$17,802,199
Net assets or fund balances, end of year
$70,569,879
Program services expenses (Part IX)
$10,481,119
Management and general expenses
$1,202,419
Fundraising expenses
$0
Program service expenses (Part III)
$10,481,119

Program services were 89.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: DEVELOPER FEE INCOME

    total $14,649,358 · related or exempt $14,649,358

  • 2b · Program service revenue: HUD PHA OPERATING GRANTS

    total $4,612,292 · related or exempt $4,612,292

  • 2c · Program service revenue: NET RENTAL REVENUE

    total $2,555,026 · related or exempt $2,555,026

  • 3 · Investment income

    total $90,957 · excluded $90,957

  • 11a · Other revenue: OTHER REVENUE

    total $2,595,593 · related or exempt $2,595,593

  • 11e · Other revenue, total

    $2,595,593

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $1,673,514 · program services $1,339,624 · management and general $333,890

  • 8 · Pension plan contributions

    total $144,483 · program services $144,483

  • 9 · Other employee benefits

    total $244,429 · program services $244,429

  • 11a · Fees: management

    total $339,650 · program services $339,650

  • 11b · Fees: legal

    total $165,989 · program services $46,636 · management and general $119,353

  • 11c · Fees: accounting

    total $142,121 · program services $39,930 · management and general $102,191

  • 11g · Fees: other

    total $896,930 · program services $252,000 · management and general $644,930

  • 13 · Office expenses

    total $650,053 · program services $650,053

  • 20 · Interest

    total $415,081 · program services $415,081

  • 22 · Depreciation, depletion and amortization

    total $607,628 · program services $607,179 · management and general $449

  • 23 · Insurance

    total $245,934 · program services $244,328 · management and general $1,606

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $2,001,464 · program services $2,001,464

  • 24b · Other expenses: TAX PASSTHROUGH LOSSES

    total $1,916,901 · program services $1,916,901

  • 24c · Other expenses: UTILITIES

    total $1,353,437 · program services $1,353,437

  • 24d · Other expenses: BAD DEBTS

    total $506,442 · program services $506,442

  • 24e · All other expenses

    total $379,482 · program services $379,482

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $12,726,239 · end of year $9,824,728

  • 4 · Accounts receivable

    beginning of year $21,116,900 · end of year $36,097,496

  • 7 · Other notes and loans receivable

    beginning of year $16,578,553 · end of year $16,578,553

  • 8 · Inventories for sale or use

    beginning of year $108,918

  • 9 · Prepaid expenses and deferred charges

    beginning of year $107,015 · end of year $108,368

  • 10a · Land, buildings and equipment: cost or other basis

    $29,076,193

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,014,295

  • 10c · Land, buildings and equipment, net

    beginning of year $11,912,526 · end of year $14,061,898

  • 13 · Investments: program-related

    beginning of year $10,597,816 · end of year $9,991,151

  • 15 · Other assets

    beginning of year $761,792 · end of year $1,709,884

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,688,890 · end of year $2,530,585

  • 19 · Deferred revenue

    beginning of year $512,222 · end of year $964,689

  • 23 · Secured mortgages and notes payable

    beginning of year $14,549,046 · end of year $14,182,141

  • 25 · Other liabilities

    beginning of year $128,487 · end of year $124,784

  • 27 · Net assets without donor restrictions

    beginning of year $57,031,114 · end of year $70,569,879

Mission and programs · 2024

Mission

THE FORMATION OF THE COMPANY IS FOR THE AID IN PLANNING, UNDERTAKING, CONSTRUCTION AND OPERATION OF HOUSING PROJECTS WITHIN CUYAHOGA COUNTY, OHIO. IT WAS FORMED TO DEVELOP LOW AND MODERATE INCOME HOUSING IN TARGET NEIGHBORHOODS IN CUYAHOGA COUNTY.

Activities or mission (Part I)

THE FORMATION OF THE COMPANY IS FOR THE AID IN PLANNING, UNDERTAKING, CONSTRUCTION AND OPERATION OF HOUSING PROJECTS WITHIN CUYAHOGA COUNTY, OHIO.

  • TO DEVELOP LOW AND MODERATE INCOME HOUSING IN TARGET NEIGHBORHOODS IN CUYAHOGA COUNTY.

    Expenses $10,481,119 · Revenue $24,412,269

As filed on the 2024 return.

Listed in Part VII

  • INDIA PIERCE LEE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • MELODIE SANDERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • MICHAEL SCHOOP

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • STEPHANIE POPE-EARLEY

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0

  • JOSEPH BLACK

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0

  • JEFFREY PATTERSON

    PRESIDENT

    Total calculated
    $357,075
    From this org
    $0
    From related orgs
    $306,406
    Other
    $50,669
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $306,406 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $306,406 related

  • CLYDE TRUETT JR

    TREASURER

    Total calculated
    $200,242
    From this org
    $0
    From related orgs
    $152,250
    Other
    $47,992
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $152,250 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $152,250 related

  • JEFFREY WADE

    VICE PRESIDENT

    Total calculated
    $252,063
    From this org
    $0
    From related orgs
    $196,473
    Other
    $55,590
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $196,473 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $196,473 related

  • RACHEL LOEWY

    SECRETARY

    Total calculated
    $160,530
    From this org
    $0
    From related orgs
    $132,401
    Other
    $28,129
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • QUARRYTOWN REDEVELOPMENT LLC

    RENTAL REAL ESTATE · OH · income -$470,342 · assets $4,671,831

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • SEVERANCE REDEVELOPMENT LLC

    RENTAL REAL ESTATE · OH · income $2,732 · assets $6,662,149

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • AMBLESIDE REDEVELOPMENT LLC

    RENTAL REAL ESTATE · OH · income -$194,583 · assets $5,302,205

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • 1701 HOLDINGS LLC

    RENTAL REAL ESTATE · OH · income $160,406 · assets $1,541,604

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • CARVER PARK PHASE III GP LLC

    RENTAL REAL ESTATE · OH · income -$1,936 · assets $1,582,272

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • WADE PARK GP LLC

    RENTAL REAL ESTATE · OH · income -$1,144 · assets $842,013

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • WOODHILL REDEVELOPMENT LLC

    RENTAL REAL ESTATE · OH · income -$18 · assets $245,129

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RIVERSIDE PARK HOMES INC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$970,313 · share of assets $8,792,342

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • MILES POINTE GP INC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$220 · share of assets $185,536

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • WRRMC INTERGENERATIONAL HOUSING INC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$211,484 · share of assets $261,109

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • BOHN TOWER GP INC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$98 · share of assets $225,091

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • CARVER PARK PHASE I GP LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$4,117 · share of assets -$10,054

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • CARVER PARK PHASE II GP LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$837 · share of assets -$4,593

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • RIVERSIDE PARK PHASE II GP LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$1,848 · share of assets -$7,732

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • RIVERSIDE PARK PHASE III GP LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$2,724 · share of assets -$9,811

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • GARDEN VALLEY REDEVELOPMENT LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$101,098 · share of assets -$1,141,889

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • CLEVELAND EAST LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$624,065 · share of assets $725,854

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

  • CEDAR REDEVELOPMENT LLC

    C · PROPERTY LESSOR · OH · 100% owned · share of income -$79 · share of assets $730,169

    Directly controlled by WESTERN RESERVE REVITALIZATION AND MANAGEMENT COMPANY INC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349304180

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