2023-02-22T12:02:17-06:00 2022-09-30 390974031 WEGNER CPAS LLP 2921 LANDMARK PL STE 300 MADISON WI 537134236 990 2021-10-01 391400466 WBD INC WBDI 6088190390 4618 SOUTH BILTMORE LANE MADISON WI 53718 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 6088190390 2023-02-21 1 MARCIE MAHUTA 999009999 JASON STEPHENS CPA P01263225 6082744020 2023-02-21 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z DAN SCHNEIDER 4618 SOUTH BILTMORE LANE MADISON WI 53718 19931548 0 X WWW.WBD.ORG X 1981 WI ASSIST SMALL BUSINESSES TO OBTAIN CAPITAL FROM THE SBA TO SUPPORT JOB CREATION AND RETENTION. 11 10 53 32 0 0 0 0 8551161 9303397 185467 57547 16594 38211 8753222 9399155 176065 402105 0 0 5918760 6572450 0 0 0 1168116 1355512 7262941 8330067 1490281 1069088 14427798 14868892 3241653 3932894 11186145 10935998 X WBD IS A BUSINESS FINANCE RESOURCE THAT PROVIDES THE KNOWLEDGE, SERVICES AND ACCESS TO CAPITAL NEEDED TO CREATE JOBS, GROW BUSINESSES AND BUILD COMMUNITIES. 0 0 6776417 402105 9303397 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 9/30/22, WBD'S SBA 504 PORTFOLIO INCLUDED 1,613 LOANS TOTALING $954,318,653. DURING THE REPORTING PERIOD 315 NEW LOANS WERE AUTHORIZED FOR OVER $270 MILLION AS A PART OF PROJECTS TOTALING OVER $744 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE AN ADDITIONAL 2,770 JOBS. WBD CURRENTLY PROVIDES ACCESS TO FINANCING FOR THOUSANDS OF BUSINESSES THROUGHOUT WISCONSIN, IN 14 COUNTIES IN MINNESOTA (LARGELY THE TWIN CITIES AREA), AND WISCONSIN-BORDER AREAS IN THE UPPER PENINSULA OF MICHIGAN. SINCE 1981 WBD HAS HELPED CREATE MORE THAN 74,000 JOBS. THIS PAST YEAR, WBD RANKED AS THE 7TH MOST ACTIVE CDC IN THE NATION, BASED ON DOLLAR VOLUME OUT OF ROUGHLY 200 CDCS IN THE U.S. THROUGH OUR LLC AFFILIATE, WBD SERVICE COMPANY, 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) AND COMMUNITY REINVESTMENT FUND PROGRAMS, ALONG WITH OTHER NATIONAL, STATE, AND LOCAL PROGRAMS, 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 56 - 7(A) LOANS VALUED AT OVER $54 MILLION. THESE LOANS SUPPORTED THE CREATION OF 238 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. 6776417 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 43 0 53 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X MARCIE MAHUTA 6088190390 4618 SOUTH BILTMORE LANE MADISON WI 53718 DAN SCHNEIDER CORPORATE EXECUTIVE OFFICER 40.00 X X 370857 0 45320 CRAIG ADERHOLD CHAIR 1.00 X X 1750 0 0 PATRICK SCHLOSS VICE CHAIR 1.00 X X 5850 0 0 BARBARA LAMUE SECRETARY 1.00 X X 5088 0 0 TIMOTHY SCHNEIDER DIRECTOR 1.00 X 6900 0 0 WILLIAM MITCHELL DIRECTOR 1.00 X 5850 0 0 DAVE PROVANCHER DIRECTOR 1.00 X 2300 0 0 THOMAS MEWS DIRECTOR 1.00 X 1900 0 0 STEVEN PETERSON DIRECTOR 1.00 X 5500 0 0 PAM CHRISTENSON DIRECTOR 1.00 X 550 0 0 DAVID BORCHARDT DIRECTOR 1.00 X 1550 0 0 RANDAL KYLE DIRECTOR OF GOVERNANCE & COMPLIANCE 40.00 X 146446 0 0 WENDA ROYCRAFT SENIOR VP & CORP CREDIT OFFICER 40.00 X 276484 0 12904 STEPHEN KOHL VP & LOAN OFFICER 40.00 X 246868 0 26888 JASON MONNETT SENIOR VP & SENIOR LENDER 40.00 X 248324 0 16706 NICHOLAS DREWSEN VP & LOAN OFFICER 40.00 X 200119 0 9622 LANCE WALTER SENIOR VP MARKETING & COMMUNICATIONS 40.00 X 192570 0 16598 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 40.00 X 194666 0 14621 1913572 0 142659 10 0 1 0 STAFFORD ROSENBAUM LLP PO BOX 1784 MADISON WI 53701 ATTORNEY FEES 323208 GECK DUEA & OLSON PLLC 4770 WHITE BEAR PKWY SUITE 100 WHITE BEAR LAKE MN 55110 ATTORNEY FEES 182325 WIPFLI LLP PO BOX 8700 MADISON WI 53713 ACCOUNTING AND IT SERVICES 149575 LAW FIRM OF CONWAY OLEJNICZAK & JERRY PO BOX 23200 GREEN BAY WI 54305 LEGAL FEES 105733 4 FEES FROM LENDING ACTIVITIES 522291 8742300 8742300 FLOAT INTEREST EARNED 522291 412409 412409 LENDER SERVICES & TRAININGS 522291 148688 148688 9303397 183370 183370 10406570 10532393 -125823 -125823 -125823 38211 38211 38211 9399155 9303397 0 95758 402105 402105 866811 709308 157503 4571478 3740821 830657 418258 342259 75999 375315 307118 68197 340588 278702 61886 5757 5757 21050 21050 53342 53342 75595 9000 66595 139761 114366 25395 439669 357995 81674 329273 269442 59831 54495 44593 9902 67280 55055 12225 60309 49351 10958 52211 42724 9487 BAD DEBT EXPENSE 39206 39206 DUES AND SUBSCRIPTIONS 17564 14372 3192 8330067 6776417 1553650 0 530018 310558 4945870 4217947 552281 2004322 153751 104147 114098 82782 540086 452155 102431 87931 7793507 7383241 168334 617801 67508 60163 14427798 14868892 2377732 2663575 33675 15175 830246 1254144 3241653 3932894 X 11186145 10935998 11186145 10935998 14427798 14868892 1069088 -1319235 0 X 0 1 X 1 0 X 260000 140000 400000 6386001 6774193 7446090 8551161 9303397 38460842 40508 23276 9800 16594 38211 128389 6686509 6937469 7455890 8567755 9341608 38989231 0 0 0 38989231 99043 151654 163894 179681 183370 777642 99043 151654 163894 179681 183370 777642 6785552 7089123 7619784 8747436 9524978 39766873 0.98040 0.98220 0.01960 0.01780 X 33927 24739 9188 431986 358076 73910 74173 69340 4833 87931 APPLICATION DEPOSITS 1254144 1254144 X PART X, LINE 2: FINANCIAL ACCOUNTING STANDARDS REQUIRE AN ORGANIZATION TO DETERMINE WHETHER IT'S MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION ON THE TECHNICAL MERITS OF THE POSITION ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THERE ARE NO RECORDED ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. 1 WISCONSIN WOMEN'S BUSINESS INITIATIVE CORP 1533 N RIVERCENTER DRIVE MILWAUKEE WI 53212 391597954 501(C)(3) 100000 0 SUPPORT THE LAUNCH OF KIVA-SE BY COVERING EXPENSE OF ONE PART-TIME STAFF THAT SUPPORTS AND TRAINS MICORENTERPRISES NORTHEAST ENTREPRENEUR FUND INC 202 W SUPERIOR ST STE 311 DULUTH MN 55802 363566632 501(C)(3) 100000 0 CREATE THE INVESTOR NETWORK INITIATIVE TO PROVIDE SUPPORT TO REGION'S ENTREPRENEUERS. NEW NORTH INC 600 N ADAMS S GREEN BAY WI 54301 260114487 501(C)(3) 12500 0 CREATE SIX ENTREPRENEURIAL PITCH CONTESTS IN PARTNERSHIP WITH NINE COUNTY ECONOMIC DEVELOPMENT CORPORATIONS WISCONSIN ECONOMIC DEVELOPMENT ASSOCIATION INC 2801 INTERNATIONAL LN SUITE 106 MADISON WI 53704 510180680 501(C)(6) 87000 0 FUND EDUCATION SCHOLARSHIPS FOR ECONOMIC DEVELOPMENT PROFESSIONALS, FUND POSITIONS TO IMPROVE STATEWIDE ECONOMIC PROGRAMMING, UPGRADE WEBSITE AND COMMISSION A WISCONSIN CHILDCARE AND LITERATURE REVIEW TO IDENTIFY ISSUES AROUND THE SCARCITY OF AFFORDABLE CHILDCARE AND IMPACT ON THE WORKFORCE. WISCONSIN VETERANS CHAMBER OF COMMERCE INC 5027 W NORTH AVE MILWAUKEE WI 53208 474708908 501(C)(6) 100000 0 VETWORKS WISCONSIN - FUND POSITION WTH WISONSIN VETERENS CHAMBER OF COMMERCE TO BUILD A NEW TALENT PIPELINE FOR TRANSITIONING SERVICE MEMBERS SELECTING WISCONSIN AS THEIR HOME 3 2 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS THROUGH COMPLIANCE OF PROGRAM FUNDING SOURCE REQUIREMENTS. X X X 0 0 0 0 0 0 0 0 0 DAN SCHNEIDER CORPORATE EXECUTIVE OFFICER 262538 0 100000 0 8319 0 13050 0 32270 0 416177 0 0 0 WENDA ROYCRAFT SENIOR VP & CORP CREDIT OFFICER 202498 0 71000 0 2986 0 11075 0 1829 0 289388 0 0 0 STEPHEN KOHL VP & LOAN OFFICER 115469 0 131219 0 180 0 10568 0 16320 0 273756 0 0 0 JASON MONNETT SENIOR VP & SENIOR LENDER 182549 0 61000 0 4775 0 9140 0 7566 0 265030 0 0 0 NICHOLAS DREWSEN VP & LOAN OFFICER 113892 0 86065 0 162 0 9012 0 610 0 209741 0 0 0 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 152892 0 41000 0 774 0 7233 0 7388 0 209287 0 0 0 LANCE WALTER SENIOR VP MARKETING & COMMUNICATIONS 150796 0 41000 0 774 0 6225 0 10373 0 209168 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 IS REVIEWED BY THE SENIOR VP OF FINANCE & ADMIN. A FINAL DRAFT OF FORM 990 PROVIDED TO ALL MEMBERS OF THE AUDIT & FINANCE COMMITTEE FOR REVIEW AND TO THE BOARD OF DIRECTORS FOR FINAL APPROVAL. THE COMPLETED FORM 990 IS POSTED TO THE SECURE PORTION OF THE ORGANIZATION'S WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEE SIGNED ACKNOWLEDGEMENTS STATING UNDERSTANDING OF THE POLICY ARE COLLECTED ANNUALLY. BOARD AND COMMITTEE MEMBERS ABSTAIN FROM VOTING ON AN ISSUE IF THERE IS A CONFLICT OR PERCEIVED CONFLICT. U.S. SMALL BUSINESS ADMINSTRATION REGULATORY COMPLIANCE REQUIRE THE ORGANIZATION TO REPORT CONFLICTS OF INTEREST. DIRECTORS RESPOND TO A SURVEY THAT INQUIRES ABOUT OTHER BOARD PARTICIPATION AND INVOLVEMENT. THOSE BOARD RESPONSES ARE REVIEWED TO ASSURE POLICY COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR SETTING THE COMPENSATION OF THE CORPORATE EXECUTIVE OFFICER. A PERIODIC MARKET SURVEY IS CONDUCTED THROUGH USE OF A LABOR CONSULTANT AND USED WHEN REVIEWING EXECUTIVE COMPENSATION. THE COMPENSATION OF THE OTHER MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM IS REVIEWED AND SET BY THE CORPORATE EXECUTIVE OFFICER. THE BOARD, THROUGH APPROVAL OF THE OVERALL OPERATING BUDGET, REVIEWS AND APPROVES COMPENSATION AND BONUS PAYMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. WBD SERVICE COMPANY LLC 4618 SOUTH BILTMORE LANE MADISON WI 53718 352289288 LOAN UNDERWRITING, SERVICING, AND COMPLIANCE WI 148687 241335 WBD INC