2025-02-07T17:03:45-06:00 2024-09-30 390974031 WEGNER CPAS LLP 2921 LANDMARK PL STE 300 MADISON WI 537134236 990 2023-10-01 391400466 WBD INC WBDI 6088190390 5202 EASTPARK BOULEVARD 109 MADISON WI 53718 RANDAL KYLE SR VP-CHIEF OPERATING OFFICER 6088190390 2025-02-07 1 0 JASON STEPHENS CPA P01263225 6082744020 2025-02-07 2023 2025-03-06 01:10:19Z DAN SCHNEIDER 5202 EASTPARK BOULEVARD 109 MADISON WI 53718 12225977 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 57 47 0 0 0 0 8700649 9160477 411506 743793 21725 14475 9133880 9918745 367970 248809 0 0 6348423 6951076 0 0 0 1496902 1488753 8213295 8688638 920585 1230107 16784755 20723212 4292925 5535801 12491830 15187411 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 7035810 248809 9160477 WBD, INC. WAS FORMED TO ASSIST SMALL BUSINESSES IN GAINING ACCESS TO CAPITAL 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 SEPTEMBER 30,2024, WBD'S SBA 504 PORTFOLIO INCLUDED 1,701 LOANS TOTALING $1,019,860,129. DURING THE REPORTING PERIOD, 164 NEW LOANS WERE AUTHORIZED FOR OVER $175 MILLION AS A PART OF PROJECTS TOTALING OVER $506 MILLION. THESE PROJECTS ARE PROJECTED TO CREATE AN ADDITIONAL 981 JOBS. SINCE 1981 WBD HAS HELPED CREATE MORE THAN 76,481 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. WBD CURRENTLY PROVIDES ACCESS TO FINANCING FOR THOUSANDS OF BUSINESSES THROUGHOUT WISCONSIN, MINNESOTA, AND SERVES WISCONSIN-BORDER AREAS IN THE UPPER PENINSULA OF MICHIGAN. 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 59- 7(A) LOANS VALUED AT OVER $28 MILLION. THESE LOANS SUPPORTED THE CREATION OF 228 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. 7035810 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 0 0 0 0 1 46 0 57 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 RANDAL KYLE 6088190390 5202 EASTPARK BOULEVARD SUITE 109 MADISON WI 53718 DAN SCHNEIDER CORPORATE EXECUTIVE OFFICER 40.00 X X 376559 0 36914 PATRICK SCHLOSS CHAIR 1.00 X X 3550 0 0 DAVID BORCHARDT VICE CHAIR 1.00 X X 2250 0 0 BARBARA LAMUE SECRETARY 1.00 X X 2800 0 0 WILLIAM MITCHELL DIRECTOR 1.00 X 8950 0 0 DAVE PROVANCHER DIRECTOR 1.00 X 1850 0 0 THOMAS MEWS DIRECTOR 1.00 X 1350 0 0 STEVEN PETERSON DIRECTOR 1.00 X 3850 0 0 PAM CHRISTENSON DIRECTOR 1.00 X 1200 0 0 SHAWN WELLNITZ DIRECTOR 1.00 X 0 0 0 CRAIG ADERHOLD DIRECTOR 1.00 X 4250 0 0 RANDAL KYLE SENIOR VP-CHIEF OPERATING OFFICER 40.00 X 96154 0 0 WENDA ROYCRAFT SENIOR VP & CORP CREDIT OFFICER 40.00 X 318394 0 14033 STEPHEN KOHL VP & LOAN OFFICER 40.00 X 219696 0 29710 JASON MONNETT SENIOR VP & SENIOR LENDER 40.00 X 255654 0 18951 NICHOLAS DREWSEN VP & LOAN OFFICER 40.00 X 202577 0 10491 LANCE WALTER SENIOR VP MARKETING & COMMUNICATIONS 40.00 X 202659 0 29217 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 40.00 X 216329 0 24161 1918072 0 163477 11 0 1 0 STAFFORD ROSENBAUM LLP PO BOX 1784 MADISON WI 53701 ATTORNEY FEES 248624 GECK DUEA & OLSON PLLC 4770 WHITE BEAR PKWY SUITE 100 WHITE BEAR LAKE MN 55110 ATTORNEY FEES 190419 WIPFLI LLP PO BOX 8700 MADISON WI 53713 ACCOUNTING AND IT SERVICES 175897 3 FEES FROM LENDING ACTIVITIES 522291 7822248 7822248 FLOAT INTEREST EARNED 522291 1185532 1185532 LENDER SERVICES & TRAININGS 522291 133109 133109 ASSUMPTION FEES 522291 19588 19588 9160477 482400 482400 2548123 20502 2307232 0 240891 20502 261393 261393 14475 14475 14475 9918745 9160477 0 758268 248809 248809 938136 767832 170304 4693388 3841379 852009 535448 438246 97202 431402 353088 78314 352702 288675 64027 2900 2900 23985 23985 52251 52251 74466 74466 172733 141376 31357 448168 362246 85922 301095 246435 54660 58899 48207 10692 141544 114348 27196 34702 28402 6300 57531 47087 10444 CREDIT LOSSES 60995 60995 DUES AND SUBSCRIPTIONS 20294 16609 3685 39190 32076 7114 8688638 7035810 1652828 0 223216 425686 3517662 3420379 2492005 2959475 56907 31068 111731 166841 611992 405927 50111 206065 9249535 12367745 469806 197831 613782 948122 16784755 20723212 2380905 3090650 12000 10325 1900020 2434826 4292925 5535801 X 12491830 15187411 12491830 15187411 16784755 20723212 1230107 1465474 0 X 0 1 X 1 0 X 7446090 8551161 9303397 8700649 9160477 43161774 9800 16594 38211 21725 14475 100805 7455890 8567755 9341608 8722374 9174952 43262579 0 0 0 43262579 163894 179681 183370 386950 482400 1396295 163894 179681 183370 386950 482400 1396295 7619784 8747436 9524978 9109324 9657352 44658874 0.96870 0.97470 0.03130 0.02530 X 0 0 0 0 0 0 1 1631 0 0 1631 0 86285 8648 77637 403317 337168 66149 122390 60111 62279 206065 APPLICATION DEPOSITS 1539871 OPERATING LEASE LIABILITIES 894955 2434826 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 NEW NORTH INC 600 N ADAMS S GREEN BAY WI 54301 260114487 501(C)(3) 18000 0 SPONSORSHIP OF REGIONAL BUSINESS PITCH CONTESTS FOR-M FOUNDATION INC PO BOX 125 MILWAUKEE WI 53201 844165560 501(C)(6) 50000 0 SUPPORTING A NUMBER OF AI PROGRAMS DESIGNED TO HELP BUSINESSES BEGIN TO PLAN AND TAKE ADVANTAGE OF AI IN MANUFACTURING DULUTH AREA CHAMBER FOUNDATION 5 W 1ST ST STE 101 DULUTH MN 55802 882181306 501(C)(3) 50000 0 SUPPORT OF THE WORKFORCE FUND THAT PROVIDES ASSISTANCE IN REMOVING BARRIERS TO EMPLOYMENT HMONG AMERICAN PARTNERSHIP 1075 ARCADE STREET SAINT PAUL MN 55106 411667580 501(C)(3) 50000 0 SUPPORTING THE BUILD OUT OF A NEW INTAKE STYTEM TO BETTER CONNECT CLIENTS WITH A FULL ARRAY OF SERVICES AT HAP MIDDLETON CHAMBER OF COMMERCE FOUNDATION INC 8383 GREENWAY BLVD STE 100 MIDDLETON WI 53562 933317875 501(C)(3) 50000 0 SUPPORTING THE BUILDING OF AN INTERFACE WITH MISSION WORKFORCE ALLIANCE TO AID CHAMBERS ACROSS WI IN CONNECTING WITH VETS LEAVING ACTIVE SERVICE WI SMALL BUSINESS DEVELOPMENT CENTER AT UW MADISON GRAINGER HALL 975 UNIVERSITY AVE SUITE 1290 MADISON WI 53706 396006492 GOVERNMENT 25000 0 SUPPORTING THE BUSINESS ACCOUNTING AND PROJECTION CLINIC'S LAUNCH OF A NEW BEGINNERS GUIDE TO FINANCIAL PROJECTIONS SELF GUIDED CLASS 5 1 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS THROUGH COMPLIANCE OF PROGRAM FUNDING SOURCE REQUIREMENTS. X X X X 0 0 0 0 0 0 0 0 0 DAN SCHNEIDER CORPORATE EXECUTIVE OFFICER 247933 0 75000 0 53626 0 14286 0 22628 0 413473 0 0 0 WENDA ROYCRAFT SENIOR VP & CORP CREDIT OFFICER 207135 0 58000 0 53259 0 12315 0 1718 0 332427 0 0 0 JASON MONNETT SENIOR VP & SENIOR LENDER 178460 0 50000 0 27194 0 9873 0 9078 0 274605 0 0 0 STEPHEN KOHL VP & LOAN OFFICER 140879 0 77465 0 1352 0 10082 0 19628 0 249406 0 0 0 MARCIE MAHUTA SENIOR VP OF FINANCE & ADMIN 147621 0 41000 0 27708 0 8593 0 15568 0 240490 0 0 0 LANCE WALTER SENIOR VP MARKETING & COMMUNICATIONS 140187 0 38000 0 24472 0 6589 0 22628 0 231876 0 0 0 NICHOLAS DREWSEN VP & LOAN OFFICER 145078 0 56522 0 977 0 9123 0 1368 0 213068 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 5202 EASTPARK BOULEVARD ST 109 MADISON WI 53718 352289288 LOAN UNDERWRITING, SERVICING, AND COMPLIANCE WI 333109 245196 WBD INC