Form 990 for tax year 2022

Totals

Total revenue

$9,133,880

Total expenses

$8,213,295

Contributions and grants received

$0

Grants paid

$367,970

Program service revenue

$8,700,649

Investment income

$411,506

Other revenue

$21,725

Total assets, end of year

$16,784,755

Total liabilities, end of year

$4,292,925

Net assets or fund balances, end of year

$12,491,830

Program services expenses (Part IX)

$6,806,147

Management and general expenses

$1,407,148

Fundraising expenses

$0

Program service expenses (Part III)

$6,806,147

Program services were 82.9% 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.

Mission and programs · 2022

• WBD, INC. WAS FORMED TO ASSIST SMALL BUSINESSES IN GAINING ACCESS TO CAPITAL IN ORDER TO GROW THEIR BUSINESSES, CREATE JOBS, AND BUILD COMMUNITIES. THE CORNERSTONE OF WBD'S SUCCESS IS THE DELIVERY OF THE SBA 504 PRODUCT. SOLD NATIONWIDE EXCLUSIVELY BY NOT-FOR-PROFIT CERTIFIED DEVELOPMENT COMPANIES (CDC), THE SBA 504 LOAN FULFILLS THE U.S. SMALL BUSINESS ADMINISTRATION'S (SBA) PUBLIC POLICY OBJECTIVE TO SUPPORT SMALL BUSINESSES AND CREATE JOBS IN OUR COMMUNITIES THROUGH LONG-TERM, FIXED RATE FINANCING. AT 9/30/23, WBD'S SBA 504 PORTFOLIO INCLUDED 1,677 LOANS TOTALING $1,002,110,087. DURING THE REPORTING PERIOD 173 NEW LOANS WERE AUTHORIZED FOR OVER $161 MILLION AS A PART OF PROJECTS TOTALING OVER $453 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE AN ADDITIONAL 1,469 JOBS. WBD CURRENTLY PROVIDES ACCESS TO FINANCING FOR THOUSANDS OF BUSINESSES THROUGHOUT WISCONSIN, HAS RECENTLY EXPANDED FROM 14 COUNTIES IN MINNESOTA (LARGELY THE TWIN CITIES AREA) TO THE FULL STATE OF MINNESOTA ON 9/7/23, AND SERVES WISCONSIN-BORDER AREAS IN THE UPPER PENINSULA OF MICHIGAN. SINCE 1981 WBD HAS HELPED CREATE MORE THAN 75,500 JOBS. THIS PAST YEAR, WBD RANKED AS THE 10TH MOST ACTIVE CDC IN THE NATION, BASED ON NUMBER OF 504 LOANS APPROVED OUT OF ROUGHLY 200 CDCS IN THE U.S. THROUGH OUR LLC AFFILIATE, WBD SERVICE COMPANY, LLC, WE PROVIDE OUTSOURCED SERVICES TO FINANCIAL INSTITUTIONS AND NON-BANK COMMUNITY DEVELOPMENT LENDERS FOR THE SBA GOVERNMENT SPONSORED LENDING PROGRAMS. THROUGH BOTH TRAINING AND OUTSOURCED SERVICES, WBD INCREASES PARTNER INSTITUTIONS' ABILITY TO ACCESS SBA PROGRAMS TO SERVE THEIR BUSINESS CLIENTS. WDB'S EXPERTISE WITH THE SBA 7(A) PROGRAM DELIVERS VALUE FOR PROJECTS THAT NEED MORE THAN FIXED ASSET FINANCING AVAILABLE THROUGH OUR CORE SBA 504 LOAN PROGRAM. DURING THE REPORTING PERIOD, WBD PACKAGED 42- 7(A) LOANS VALUED AT OVER $15 MILLION. THESE LOANS SUPPORTED THE CREATION OF 171 NEW JOBS. ADDITIONALLY, THROUGH OUR PARTNERSHIP WITH VARIOUS COMMUNITY DEVELOPMENT AND MINORITY CHAMBER ORGANIZATIONS, WBD SERVICE COMPANY OFFERS LOAN SERVICING AND BACK OFFICE SUPPORT ENHANCING THE AGENCIES' ABILITIES TO DELIVER THE SERVICES THEY PROVIDE. THESE AGENCIES INCLUDE, BUT ARE NOT LIMITED TO THE FOLLOWING: HMONG CHAMBER OF COMMERCE, AFRICAN AMERICAN CHAMBER OF COMMERCE, AND WISCONSIN LATINO CHAMBER OF COMMERCE.

  Expenses $6,806,147 · Grants $367,970 · Revenue $8,700,649

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• NEW NORTH INC

  $0

  CREATE SIX ENTREPRENEURIAL PITCH CONTESTS IN PARTNERSHIP WITH NINE COUNTY ECONOMIC DEVELOPMENT CORPORATIONS

• WISCONSIN ECONOMIC DEVELOPMENT ASSOCIATION INC

  $0

  PROVIDE EMPLOYEE AND CONTRACTOR COSTS, SCHOLARSHIP, WEBSITE UPGRADE, AND EXPLORE AND MATCH NEW PUBLIC GRANTS

• RED LETTER GRANT

  $0

  PROVIDING START-UP CAPITAL GRANTS TO WOMEN ENTREPRENEUERS AND FUND PART-TIME PROGRAM DIRECTOR.

• FAMILY FRIENDLY WORKPLACES

  $0

  SUPPORT THE GENERAL OPERATIONS SO THEY MAY CONTINUE TO GROW ITS NETWORK.

• FOR-M FOUNDATION INC

  $0

  SUPPORT 10 WEEK PROGRAM TO PROVIDE EARLY STAGE COMPANIES WITH OPPORTUNITIES FOR LEARNING AND MENTORSHIP TO GROW THEIR BUSINESSES

• LATINO ACADEMY OF WORKFORCE DEVELOPMENT

  $0

  SUPPORT A MORE ACCESSIBLE TRUCK DRIVING TRAINING PROGRAM TO PROVDE CDL CREDENTIALS AND ADDRESS THE NEED FOR TRANSPORTATION WORKERS

• SALUTE THE TROOPS INC

  $0

  FUND A SEVEN-WEEK VETEREN-ONLY SMALL BUSINESS ACCELERATOR, MENTORSHIP AND GRANT PROGRAM.

• PROGRESS LAKESHORE

  $0

  SUPPORT A FEASIBILITY STUDY ON OPERATING A TECH INCUBATOR IN MANITOWOC COUNTY, WI

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.

Provenance

Return type

form_990

Tax year

2022

Filed

28 February 2024

IRS schema version

2022v5.0

Source object

202410599349301626

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