2021-06-15T13:39:43-05:00 2020-09-30 390758449 WIPFLI LLP PO BOX 8700 MADISON WI 537088700 990 2019-10-01 391400466 WBD INC WBDI 6088190390 4618 SOUTH BILTMORE LANE MADISON WI 53718 MARCIE MAHUTA SVP FINANCE & ADMIN. 6088190390 2021-02-22 1 JEAN CHRISTENSEN P00368719 6082741980 2021-02-22 2019 2022-09-23 18:48:47Z DAN SCHNEIDER 4618 SOUTH BILTMORE LANE MADISON WI 53718 7631354 0 X WWW.WBD.ORG X 1981 WI BUSINESS FINANCE RESOURCE THAT PROVIDES THE KNOWLEDGE, SERVICES AND ACCESS TO CAPITAL NEEDED TO CREATE JOBS, GROW BUSINESSESS AND BUILD COMMUNITIES. OUR MOST SIGNIFICANT ACTIVITY IS GENERATING SBA 504 LOANS FOR SMALL BUSINESSES THAT CREATE AND RETAIN JOBS. 10 10 51 30 0 0 140000 0 6774193 7446090 98341 168266 23276 9800 7035810 7624156 104844 406623 0 0 4559387 5413519 0 0 0 1192538 1177298 5856769 6997440 1179041 626716 9377074 11220211 1840941 2477963 7536133 8742248 X PRACTICAL ASSISTANCE TO ENCOURAGE THE DEVELOPMENT OF DESIRABLE INDUSTRIES, PROJECTS & BUSINESS CONCERNS, PARTICULARLY THE RETENTION, GROWTH & EXPANSION OF SMALL BUSINESS CONCERNS. 0 0 5593418 406623 7446090 WBD, INC. WAS FORMED TO ASSIST SMALL BUSINESSES IN GAINING ACCESS TO CAPITAL IN ORDER TO GROW THEIR BUSINESSES, PROVIDE JOB OPPORTUNITIES, AND INSPIRE THEIR 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 9/30/20, THE SBA 504 PORTFOLIO INCLUDED 1,477 LOANS TOTALING $790,487,459. DURING THE REPORTING PERIOD, 210 LOANS TOTALING $154,373,360 WERE FUNDED; WHICH CREATED OR RETAINED 1,612 JOBS. SINCE 1981, WBD HAS HELPED FUND OVER 3,000 BUSINESSES IN WISCONSIN, EASTERN MINNESOTA, AND UPPER MICHIGAN; CREATED MORE THAN 69,000 JOBS; AND PRODUCED PROJECTS IN 71 OF 72 WISCONSIN COUNTIES. THIS PAST YEAR, WBD IS THE 7TH LARGEST PRODUCER OUT OF THE 203 CDCS IN THE U.S. WBD PARTICIPATED IN PROJECTS WITH OVER 103 WISCONSIN LENDERS AND SERVED AS AN INTEGRAL HUB IN EVERY PROJECT. ADDITIONALLY, WBD BRIDGED THE CONSTANT NEED FOR ACCESS TO CAPITAL MARKETS WHILE KEEPING THE INTERESTS OF THE LENDER, THE SBA, AND MORE IMPORTANTLY THE SMALL BUSINESS AT THE FOREFRONT. THROUGH OUR WBD SERVICE COMPANY, LLC AFFILIATE, WE PROVIDE OUTSOURCED SERVICES OF TRAINING, CONSULTING AND LOAN PACKAGING TO FINANCIAL INSTITUTIONS AND NON-BANK COMMUNITY DEVELOPMENT LENDERS FOR THE SBA GOVERNMENT SPONSORED LENDING PROGRAMS. THESE PROGRAMS PROVIDE SMALL BUSINESSES WITH A MORE FLEXIBLE ACCESS TO CAPITAL SOLUTION THAN CONVENTIONAL FINANCING. 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. THE 7(A) PROGRAM PROVIDES SBA FUNDING FOR PROJECTS UP TO $5,000,000 WITH LOAN GUARANTEES OF UP TO $3,750,000 FOR BUSINESS START-UPS, EXPANSIONS, ACQUISITIONS, FIXED ASSETS, AND OPERATIONAL EXPENSES. DURING THE REPORTING PERIOD, 39 TYPE 7(A) LOANS WERE PACKAGED BY WBD. THESE LOANS SUPPORTED THE CREATION OR RETENTION OF 247 JOBS AND MORE THAN $35,695,600 MILLION OF TOTAL PROJECT VALUES. 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 FIRST AMERICAN CAPITAL CORPORATION. 5593418 1 0 0 1 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 1 1 0 0 0 1 47 0 51 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X RANDAL KYLE 6088190390 4618 SOUTH BILTMORE LANE MADISON WI 53718 DAN SCHNEIDER PRESIDENT & CEO 40.00 X 285677 0 39873 RANDAL KYLE EXECUTIVE VP & COO 40.00 X 256562 0 21216 WENDA ROYCRAFT SENIOR VP & CHIEF CREDIT OFFICER 40.00 X 223940 0 11208 STEPHEN KOHL VP & LOAN OFFICER 40.00 X 166562 0 23138 JASON MONNETT SENIOR VP & SENIOR LENDER 40.00 X 170933 0 13735 NICHOLAS DREWSEN VP & LOAN OFFICER 40.00 X 142018 0 9663 LANCE WALTER VP & LOAN OFFICER 40.00 X 136859 0 6767 MARCIE MAHUTA VP OF FINANCE 40.00 X 126120 0 13359 BILL MITCHELL CHAIRMAN 1.00 X X 3550 0 0 KIM KINDSCHI SECRETARY 1.00 X X 3600 0 0 CRAIG ADERHOLD DIRECTOR 1.00 X 1250 0 0 PAM CHRISTENSON DIRECTOR 1.00 X 1100 0 0 DEBRA CLEMENTS DIRECTOR (THRU NOV) 1.00 X 600 0 0 BARB LAMUE DIRECTOR 1.00 X 0 0 0 TOM MEWS DIRECTOR 1.00 X 1550 0 0 STEVE PETERSON DIRECTOR 1.00 X 3650 0 0 DAVE PROVANCHER DIRECTOR 1.00 X 2850 0 0 PATRICK SCHLOSS DIRECTOR 1.00 X 3550 0 0 TIM SCHNEIDER DIRECTOR 1.00 X 3700 0 0 1534071 0 138959 14 0 1 0 STAFFORD ROSENBAUM LLP PO BOX 1784 MADISON WI 53701 LEGAL SERVICES 273781 WIPFLI LLP PO BOX 8700 MADISON WI 53713 ACCOUNTING AND IT SERVICES 227741 LAW FIRM OF CONWAY OLEJNICZAK & JERRY PO BOX 23200 GREEN BAY WI 54305 LEGAL SERVICES 158771 3 FEES FROM LENDING ACTI 522291 6652964 6652964 LENDER SERVICES & TRAI 522291 522216 522216 FLOAT INTEREST EARNED 522291 270910 270910 7446090 163894 163894 1570 10000 506 6692 1064 3308 4372 4372 9800 9800 9800 7624156 7446090 0 178066 406623 406623 864266 693580 170686 3750124 3002235 747889 219009 181738 37271 292810 228460 64350 287310 230166 57144 3581 3581 20500 16376 4124 31823 31823 36823 25875 10948 96176 77138 19038 331316 188167 143149 326269 261832 64437 44993 36107 8886 65009 51849 13160 3834 3059 775 76017 61004 15013 45922 36853 9069 BAD DEBT EXPENSE 75149 75149 DUES AND SUBSCRIPTIONS 13480 10801 2679 6406 6406 6997440 5593418 1404022 0 1048361 668412 2453839 3318840 679251 818448 277126 213308 185000 161878 583621 398582 169693 185039 4313345 5823007 250459 31279 9377074 11220211 1035355 1790058 13950 19393 791636 668512 1840941 2477963 X 7536133 8742248 7536133 8742248 9377074 11220211 X 626716 351937 227462 X 0 1 X 1 0 X 124434 358 260000 140000 0 524792 5877074 6669470 6386001 6774193 7446090 33152828 604983 37683 40508 23276 9800 716250 6606491 6707511 6686509 6937469 7455890 34393870 0 0 0 34393870 68485 63543 99043 151654 163894 546619 68485 63543 99043 151654 163894 546619 6674976 6771054 6785552 7089123 7619784 34940489 0.98440 0.98510 0.01560 0.01490 X 0 1 0 0 0 0 0 0 1 2375 2375 0 PART II-B, LINE 1: 1(I): THE ORGANIZATION IS A MEMBER OF NATIONAL ASSOCIATION OF DEVELOPMENT COMPANIES (NADCO). A PORTION OF THE DUES PAID TO NADCO ARE FOR LOBBYING. NADCO ASSISTS MEMBER CERTIFIED DEVELOPMENT COMPANIES DELIVER THE SBA 504 LOAN PROGRAM TO THE NATION'S SMALL BUSINESSES THROUGH LEGISLATIVE AFFAIRS, REGULATORY AFFAIRS, EDUCATION, TRAINING AND OUTREACH. 33927 16989 16938 549694 381593 168101 185039 APPLICATION DEPOSITS 668512 668512 X 7944270 351937 -31823 320114 7624156 0 7624156 6965617 0 6965617 31823 31823 6997440 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT EXPENSES -31,823. 1 WISCONSIN ECONOMIC DEVELOPMENT ASSOCIATION INC 2801 INTERNATIONAL LN STE 106 MADISON WI 53704 510180680 501(C)6 150000 SUPPORT CRA NETWORK WISCONSIN WOMEN'S BUSINESS INITIATIVE CORP 1533 N RIVERCENTER DRIVE MILWAUKEE WI 53212 391597954 501(C)3 90000 FUNDING OF LOAN LOSS RESERVE THAT LEVERAGES WWBIC'S ABILITY TO PROVIDE SMALL BUSINESS LOANS, SUPPORT KIVA GREATER MADISON PROJECT NORTHEAST ENTREPRENEUR FUND INC 202 W SUPERIOR ST STE 311 DULUTH MN 55802 363566632 501(C)3 150000 LOAN CAPITAL TO SMALL BUSINESS THAT CREATE AND RETAIN JOBS IN RURAL COUNTIES OF WI AND MN NEW NORTH INC 600 N ADAMS ST GREEN BAY WI 54301 260114487 501(C)3 10000 FUNDING TO SUPPORT A REGIONAL PLAN FOR INCREASING DIVERSITY AND RETENTION OF PEOPLE OF COLOR WISCONSIN RURAL PARTNERS 8576 NORTH BLACK OAK DR EDGERTON WI 53534 391859514 501(C)3 5000 SUPPORT ANNUAL MEETING 5 0 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 PRESIDENT & CEO 215250 0 50000 0 20427 0 12237 0 27636 0 325550 0 0 0 RANDAL KYLE EXECUTIVE VP & COO 180056 0 55000 0 21506 0 6822 0 14394 0 277778 0 0 0 WENDA ROYCRAFT SENIOR VP & CHIEF CREDIT OFFICER 170837 0 35000 0 18103 0 9298 0 1910 0 235148 0 0 0 STEPHEN KOHL VP & LOAN OFFICER 109223 0 57339 0 0 0 7728 0 15410 0 189700 0 0 0 JASON MONNETT SENIOR VP & SENIOR LENDER 144575 0 25000 0 1358 0 7714 0 6021 0 184668 0 0 0 NICHOLAS DREWSEN VP & LOAN OFFICER 98244 0 43231 0 543 0 4663 0 5000 0 151681 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION MADE THE FOLLOWING CHANGES TO ITS BYLAWS DURING THE YEAR: 1. UPDATED THE NUMBER OF VOTING MEMBERS OF THE BOARD OF DIRECTORS 2. UPDATED THE BOARD OF DIRECTORS DUTIES FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 IS REVIEWED BY THE EXECUTIVE VICE PRESIDENT & COO. 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 ACKNOWLEDGMENTS 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 ADMINISTRATION 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 PRESIDENT AND CHIEF 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 PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE BOARD, THROUGH APPROVAL OF THE OVERALL OPERATING BUDGET, REVIEWS AND APPROVES ALL 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. FORM 990, PART XI, LINE 9: NET ASSETS/EQUITY DISTRUBUTION 227,462. WBD SERVICE COMPANY LLC 4618 SOUTH BILTMORE LANE MADISON WI 53718 LOAN UNDERWRITING, SERVICING, AND COMPLIANCE. WI 514202 296329 WBD INC WBD ADVANTAGE FUND LLC 4618 SOUTH BILTMORE LANE MADISON WI 53718 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION. WI 0 0 WBD INC WBD GROWTH FUND VII LLC 4618 SOUTH BILTMORE LANE MADISON WI 53718 263734723 NEW MARKET TAX CREDITS WI N/A WBD GROWTH FUND VIII LLC 4618 SOUTH BILTMORE LANE MADISON WI 53718 263734816 NEW MARKET TAX CREDITS WI N/A CHASE NMTC JL WI INVESTMENT FUND LLC 4618 SOUTH BILTMORE LANE MADISON WI 53718 371700709 NEW MARKET TAX CREDITS WI N/A WISCONSIN BUSINESS GROWTH FUND INC 4618 SOUTH BILTMORE LANE MADISON WI 53718 470959423 DEPLOY NEW MARKET TAX CREDITS, PROVIDE CAPITAL FOR SMALL BUSINESS LENDING WI WBD INC C 6884 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0