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Nonprofiteer
← COMMON WEALTH DEVELOPMENT INC

Form 990 for tax year 2024

Filed by COMMON WEALTH DEVELOPMENT INC.

Totals

Total revenue
$4,589,947
Total expenses
$4,378,542
Contributions and grants received
$1,843,808
Grants paid
$33,815
Program service revenue
$2,692,320
Investment income
$67,094
Other revenue
-$13,275
Total assets, end of year
$17,731,600
Total liabilities, end of year
$13,724,193
Net assets or fund balances, end of year
$4,007,407
Program services expenses (Part IX)
$3,327,173
Management and general expenses
$1,038,211
Fundraising expenses
$13,158
Program service expenses (Part III)
$3,327,173

Program services were 76.0% 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.

  • 1a · Federated campaigns

    $5,810

  • 1c · Fundraising events

    $42,982

  • 1e · Government grants (contributions)

    $1,569,453

  • 1f · All other contributions, gifts and grants

    $225,563

  • 2a · Program service revenue: RENTAL INCOME

    total $2,537,772 · related or exempt $2,537,772

  • 2b · Program service revenue: HOUSING REVENUE

    total $132,566 · related or exempt $132,566

  • 2c · Program service revenue: ECONOMIC DEVELOPMENT REVENUE

    total $21,982 · related or exempt $21,982

  • 3 · Investment income

    total $67,094 · excluded $67,094

  • 8a · Fundraising events: gross income

    $49,595

  • 8a · Fundraising events: contributions included on line 1c

    $42,982

  • 8b · Fundraising events: direct expenses

    $63,564

  • 8c · Net income from fundraising events

    total -$13,969 · excluded -$13,969

  • 9a · Gaming: gross income

    $1,550

  • 9b · Gaming: direct expenses

    $856

  • 9c · Net income from gaming

    total $694 · excluded $694

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $33,815 · program services $33,815

  • 5 · Compensation of officers, directors and key employees

    total $207,195 · management and general $207,195

  • 7 · Other salaries and wages

    total $1,292,088 · program services $977,809 · management and general $303,480 · fundraising $10,799

  • 8 · Pension plan contributions

    total $13,886 · program services $9,056 · management and general $4,730 · fundraising $100

  • 9 · Other employee benefits

    total $172,796 · program services $112,695 · management and general $58,856 · fundraising $1,245

  • 10 · Payroll taxes

    total $110,499 · program services $72,066 · management and general $37,637 · fundraising $796

  • 11b · Fees: legal

    total $21,088 · management and general $21,088

  • 11c · Fees: accounting

    total $92,352 · management and general $92,352

  • 11g · Fees: other

    total $50,348 · program services $3,298 · management and general $47,050

  • 12 · Advertising and promotion

    total $26,632 · program services $8,704 · management and general $17,928

  • 13 · Office expenses

    total $92,988 · program services $49,970 · management and general $42,800 · fundraising $218

  • 14 · Information technology

    total $97,188 · program services $31,734 · management and general $65,454

  • 16 · Occupancy

    total $1,111,261 · program services $1,071,380 · management and general $39,881

  • 17 · Travel

    total $7,468 · program services $2,441 · management and general $5,027

  • 19 · Conferences, conventions and meetings

    total $9,240 · program services $3,020 · management and general $6,220

  • 20 · Interest

    total $299,483 · program services $299,483

  • 22 · Depreciation, depletion and amortization

    total $654,650 · program services $628,112 · management and general $26,538

  • 23 · Insurance

    total $10,007 · management and general $10,007

  • 24a · Other expenses: CREDIT LOSS

    total $34,065 · management and general $34,065

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,643 · program services $537 · management and general $1,106

  • 24e · All other expenses

    total $39,850 · program services $23,053 · management and general $16,797

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $437,056 · end of year $1,023,346

  • 2 · Savings and temporary cash investments

    beginning of year $407,487 · end of year $251,601

  • 3 · Pledges and grants receivable

    beginning of year $558,175 · end of year $385,257

  • 4 · Accounts receivable

    beginning of year $121,287 · end of year $64,834

  • 9 · Prepaid expenses and deferred charges

    beginning of year $55,889 · end of year $37,908

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

    $22,187,835

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

    $7,398,355

  • 10c · Land, buildings and equipment, net

    beginning of year $14,678,993 · end of year $14,789,480

  • 13 · Investments: program-related

    beginning of year $135,419 · end of year $135,419

  • 15 · Other assets

    beginning of year $994,557 · end of year $1,043,755

  • 17 · Accounts payable and accrued expenses

    beginning of year $325,502 · end of year $302,631

  • 19 · Deferred revenue

    beginning of year $185,790 · end of year $147,838

  • 23 · Secured mortgages and notes payable

    beginning of year $7,238,205 · end of year $7,004,133

  • 25 · Other liabilities

    beginning of year $6,280,168 · end of year $6,269,591

  • 27 · Net assets without donor restrictions

    beginning of year $2,844,038 · end of year $3,691,893

  • 28 · Net assets with donor restrictions

    beginning of year $515,160 · end of year $315,514

Mission and programs · 2024

Mission

COMMON WEALTH DEVELOPMENT, INC. (CWD) SUPPORTS AND PRESERVES THE VITALITY OF NEIGHBORHOODS IN THE MADISON METROPOLITAN AREA. OUR WORK SERVES AS THE FOUNDATIONAL BEDROCK OF HEALTHY COMMUNITY AND ECONOMIC DEVELOPMENT, WITH PROJECTS AIMED AT IMPROVING THE HOUSING AND BUSINESS CLIMATE OF OUR NEIGHBORHOODS THROUGH A PEOPLE-FIRST APPROACH CENTERED ON RACIAL JUSTICE AND COMMUNITY LEVEL HEALTH IMPROVEMENT.

Activities or mission (Part I)

TO SUPPORT AND PRESERVE THE VITALITY OF NEIGHBORHOODS IN THE MADISON METROPOLITAN AREA.

  • HOUSING PROVIDES SAFE, STABLE AND HEALTHY HOUSING OPPORTUNITIES FOR RENTERS AND ASPIRING HOMEOWNERS. CWD OWNS AND MANAGES 160 UNITS OF AFFORDABLE RENTAL HOUSING, INCLUDING THE 60-UNIT YAHARA RIVER VIEW APARTMENT BUILDING. ADDITIONALLY, CWD ADMINISTERS AN AFFORDABLE HOME OWNERSHIP PROGRAM OF 20 UNITS.

    Expenses $1,976,164 · Grants $5,906 · Revenue $1,877,638

  • ECONOMIC DEVELOPMENT CONSISTS OF ADULT AND YOUTH WORKFORCE DEVELOPMENT AND MANAGEMENT OF TWO BUSINESS INCUBATORS. CWD MANAGES A 42,000 SQUARE FOOT BUSINESS INCUBATOR PROVIDING SMALL BUSINESS TECHNICAL ASSISTANCE AND REFERRALS, A 50,000 SQUARE FOOT LIGHT INDUSTRIAL BUILDING AND A COMMUNITY BASED EMPLOYMENT TRAINING AND PLACEMENT PROGRAM WITH CASE MANAGEMENT SUPPORT. THE YOUTH AND ADULT WORKFORCE DEVELOPMENT PROGRAMS COACH PARTICIPANTS IN FINANCIAL FLUENCY, JOB READINESS AND ENTREPRENEURIAL LEADERSHIP.

    Expenses $1,351,009 · Grants $27,909 · Revenue $814,682

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Vanessa Kuettel

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ben Leroy

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Connor Sabatino

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Beth Welch

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Robert Paolino

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rudy Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jocelyn Acuna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Allison Bell Burn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Autumn Neugent

    DIRECTOR (THRU JUNE)

    Total calculated
    $0
    Hours/week
    1

  • Justice Castaneda

    EXECUTIVE DIRECTOR

    Total calculated
    $116,133
    From this org
    $108,783
    From related orgs
    $0
    Other
    $7,350
    Hours/week
    40

  • Stefan Davidson

    FINANCE DIRECTOR

    Total calculated
    $91,062
    From this org
    $83,055
    From related orgs
    $0
    Other
    $8,007
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

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.

  • CW GENERAL PARTNER LLC

    ASSIST WITH CONSTRUCTION OF APARTMENT DEVELOPMENTS · WI · income $0 · assets $100

    Directly controlled by COMMON WEALTH DEVELOPMENT INC

  • YAHARA RIVER APARTMENTS LIMITED PARTNERS

    AFFORDABLE HOUSING · WI · income $724,266 · assets $5,544,581

    Directly controlled by COMMON WEALTH DEVELOPMENT INC

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202502979349301660

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