Common Wealth Development INC: Nonprofit Profile, Financials & Form 990 (EIN 39-1323500)

Justice Castaneda’s $109K as Executive Director is at the 24th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Justice Castaneda	$108,783	$106,456	$106,649	$88,664	$88,109
Stefan Davidson	$83,055	$77,163	$77,350	$74,458	$74,852

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Strengthens and protects the health of Madison area neighborhoods.

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2 programs · $3.3M · in their own filed words · FY2024

01

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.

$2.0Mprogram expense

02

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…

$1.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Roots and Wings Foundation INCFY2024$300K

Elevate EnergyFY2024$49K

Marquette Neighborhood AssociationFY2024$20K

Fidelity Investments Charitable Gift FundFY2024$13K

Community Shares of Wisconsin INCFY2024$13K

Total grants receivedfrom 5 funders$395K

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Grants paid · 11 grants · $55K · 2020–2024

Unitemized GrantFY2024$16,891

Unitemized GrantFY2024$3,870

Unitemized GrantFY2023$5,589

Unitemized GrantFY2023$1,763

Unitemized GrantFY2023$1,388

Unitemized GrantFY2022$11,564

Unitemized GrantFY2022$4,261

Unitemized GrantFY2021$4,365

Unitemized GrantFY2021$2,003

Unitemized GrantFY2021$1,800

Unitemized GrantFY2020$1,247

By the numbers

The FY2024 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$4.6M

Ln 12

Fees for servicesLn 2g$2.7M

Gifts and grantsLn 1h$1.8M

Investment incomeLn 3$67K

Money outPt IX

$4.4M

Ln 25

Programscol B$3.3M

Managementcol C$1.0M

Fundraisingcol D$13K

Owns and owesPt X

$4.0M

net assets · Ln 32

Cash and savingsLn 1–2$1.3M

Total assetsLn 16$17.7M

LiabilitiesLn 26$13.7M

PeoplePt VI, VII

11

listed · VII A

PaidVII A2

Voting boardVI 1a8

IndependentVI 1b8

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.8M

Government grantsLn 1e$1.6M

Fundraising eventsLn 1c$43K

Fees for servicesLn 2g$2.7M

Investment incomeLn 3$67K

Total revenueLn 12$4.6M

Assets in detailPt X, end of year

CashLn 1$1.0M

SavingsLn 2$252K

Cash and savings togetherLn 1–2$1.3M

InvestmentsLn 11–13$135K

Land, buildings, equipmentLn 10c$14.8M

Other assetsLn 15$1.0M

Total assetsLn 16$17.7M

LiabilitiesLn 26$13.7M

Net assetsLn 32$4.0M

OperationsPt I, VI

EmployeesI 578

VolunteersI 639

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$845K	$1.3M
InvestmentsLn 11–13	$135K	$135K
Land, buildings, equipmentLn 10c	$14.7M	$14.8M
Total assetsLn 16	$17.4M	$17.7M
LiabilitiesLn 26	$14.0M	$13.7M
Net assetsLn 32	$3.4M	$4.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$34K	$34K
Pay of current officers, directors and key staffLn 5	$207K		$207K
Other salaries and wagesLn 7	$1.3M	$978K	$303K	$11K
Pension plan contributionsLn 8	$14K	$9K	$5K	$100
Other employee benefitsLn 9	$173K	$113K	$59K	$1K
Payroll taxesLn 10	$110K	$72K	$38K	$796
Legal feesLn 11b	$21K		$21K
Accounting feesLn 11c	$92K		$92K
Other fees for servicesLn 11g	$50K	$3K	$47K
Advertising and promotionLn 12	$27K	$9K	$18K
Office expensesLn 13	$93K	$50K	$43K	$218
Information technologyLn 14	$97K	$32K	$65K
OccupancyLn 16	$1.1M	$1.1M	$40K
TravelLn 17	$7K	$2K	$5K
Conferences, conventions and meetingsLn 19	$9K	$3K	$6K
InterestLn 20	$299K	$299K
Depreciation, depletion and amortizationLn 22	$655K	$628K	$27K
InsuranceLn 23	$10K		$10K
Other expenses (24a–d)Ln 24	$36K	$537	$35K
All other expensesLn 24e	$40K	$23K	$17K
Total functional expensesLn 25	$4.4M	$3.3M	$1.0M	$13K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$4.6M	$4.4M	$211K	$4.0M	990 PDF
FY2023	$3.5M	$4.1M	−$580K	$3.4M	990 PDF
FY2022	$3.8M	$3.7M	$63K	$3.9M	990 PDF
FY2021	$3.8M	$3.6M	$150K	$3.8M	990 PDF
FY2020	$3.0M	$3.3M	−$263K	$3.7M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $4,589,947 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $854,697$1,843,808

I-9 Program service revenuePrior year $2,598,928$2,692,320

I-10 Investment incomePrior year $17,049$67,094

I-11 Other revenuePrior year $9,598−$13,275

I-12 Total revenuePrior year $3,480,272$4,589,947

I-13 Grants and similar amounts paidPrior year $15,272$33,815

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,449,221$1,796,464

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $2,595,429$2,548,263

I-18 Total expensesPrior year $4,059,922$4,378,542

I-19 Revenue less expensesPrior year −$579,650$211,405

Part VI · Governance 8 of 8 board members independent, no flags

VI-1a Voting members of the governing body8

VI-1b Independent voting members8

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $4,589,947 across 9 lines filed

Lines not itemized here account for $694 of total revenue; see the IRS return.

VIII-1a Federated campaigns$5,810

VIII-1c Fundraising events$42,982

VIII-1e Government grants$1,569,453

VIII-1f All other contributions, gifts and grants$225,563

VIII-1h Total contributions, gifts and grants$1,843,808

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,692,320$2,692,320

VIII-3 Investment incomeExcluded from tax $67,094$67,094

VIII-8 Net income from fundraising eventsExcluded from tax −$13,969−$13,969

VIII-12 Total revenueRelated to mission $2,692,320 · Unrelated business $0 · Excluded from tax $53,819$4,589,947

Part IX · Statement of functional expenses $4,378,542 across 20 lines filed

IX-2 Grants to domestic individualsPrograms $33,815$33,815

IX-5 Pay of current officers, directors and key staffManagement $207,195$207,195

IX-7 Other salaries and wagesPrograms $977,809 · Management $303,480 · Fundraising $10,799$1,292,088

IX-8 Pension plan contributionsPrograms $9,056 · Management $4,730 · Fundraising $100$13,886

IX-9 Other employee benefitsPrograms $112,695 · Management $58,856 · Fundraising $1,245$172,796

IX-10 Payroll taxesPrograms $72,066 · Management $37,637 · Fundraising $796$110,499

IX-11b Legal feesManagement $21,088$21,088

IX-11c Accounting feesManagement $92,352$92,352

IX-11g Other fees for servicesPrograms $3,298 · Management $47,050$50,348

IX-12 Advertising and promotionPrograms $8,704 · Management $17,928$26,632

IX-13 Office expensesPrograms $49,970 · Management $42,800 · Fundraising $218$92,988

IX-14 Information technologyPrograms $31,734 · Management $65,454$97,188

IX-16 OccupancyPrograms $1,071,380 · Management $39,881$1,111,261

IX-17 TravelPrograms $2,441 · Management $5,027$7,468

IX-19 Conferences, conventions and meetingsPrograms $3,020 · Management $6,220$9,240

IX-20 InterestPrograms $299,483$299,483

IX-22 Depreciation, depletion and amortizationPrograms $628,112 · Management $26,538$654,650

IX-23 InsuranceManagement $10,007$10,007

IX-24 Other expenses (24a–d)Programs $537 · Management $35,171$35,708

IX-24e All other expensesPrograms $23,053 · Management $16,797$39,850

IX-25 Total functional expensesPrograms $3,327,173 · Management $1,038,211 · Fundraising $13,158$4,378,542

Part X · Balance sheet $17,731,600 assets, 17 lines filed

X-1 Cash, non-interest-bearingStart of year $437,056$1,023,346

X-2 Savings and temporary cash investmentsStart of year $407,487$251,601

X-3 Pledges and grants receivableStart of year $558,175$385,257

X-4 Accounts receivableStart of year $121,287$64,834

X-9 Prepaid expenses and deferred chargesStart of year $55,889$37,908

X-10c Land, buildings and equipment, netStart of year $14,678,993$14,789,480

X-13 Program-related investmentsStart of year $135,419$135,419

X-15 Other assetsStart of year $994,557$1,043,755

X-16 Total assetsStart of year $17,388,863$17,731,600

X-17 Accounts payable and accrued expensesStart of year $325,502$302,631

X-19 Deferred revenueStart of year $185,790$147,838

X-25 Other liabilitiesStart of year $6,280,168$6,269,591

X-26 Total liabilitiesStart of year $14,029,665$13,724,193

X-27 Net assets without donor restrictionsStart of year $2,844,038$3,691,893

X-28 Net assets with donor restrictionsStart of year $515,160$315,514

X-32 Total net assets or fund balancesStart of year $3,359,198$4,007,407

X-33 Total liabilities and net assetsStart of year $17,388,863$17,731,600

Part XI · Reconciliation of net assets $4,007,407 net assets at year end

XI-1 Total revenue$4,589,947

XI-2 Total expenses$4,378,542

XI-3 Revenue less expenses$211,405

XI-4 Net assets at start of year$3,359,198

XI-9 Other changes in net assets$436,804

XI-10 Net assets at end of year$4,007,407

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Common Wealth Development INC

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