WELL COMMUNITY DEVELOPMENT CORPORATION
Mission Statement
We invest in people through the built environment. We seek a holistic approach to address systemic issues in order to improve the quality of life within the Middlebury neighborhood by fostering choice in housing, job creation and community pride. As Akron’s first place-based community development corporation devoted to the Middlebury neighborhood, we seek to create a shared prosperity for current residents through housing, economic development, and placemaking initiatives. Restoring Housing - Developing a healthy housing pipeline that provides residents the power to choose the type of housing that fits their current context and future aspirations. Creating Economy - Encouraging the adaptive reuse of our current assets to support entrepreneurship, career pathways, and engagement with anchor institutions. Supporting Place - Connecting people to the place they live and each other through the built environment.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
84.5% | 85.2% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
7.9% | 11.8% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
7.6% | 0.1% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
578.5% | 115.3% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
47.5 mo | 9.7 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
19.9% | 21.0% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
85.4% | 90.7% |
P10P90
|
Above median |
|
Revenue growth
Year over year revenue growth
|
21.3% | 8.8% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
11.7% | 10.1% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
54.8% | 1.6% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $6.2M | $2.8M | $11.1M | 84.5% | 42 |
| 2023 | $5.1M | $2.5M | $7.7M | 81.9% | 41 |
| 2022 | $2.5M | $1.8M | $5.1M | 74.1% | 30 |
| 2021 | $4.7M | $1.3M | N/A | — | 22 |
Donor Reviews
Write a ReviewBe the first to share your experience with this organization.