Overview
What is Coalfield Development Corporation?
Coalfield Development Corporation is a nonprofit organization based in Wayne, West Virginia. Their mission is to inspire growth, innovation, and community development in Central Appalachia by operating employment-based social enterprises. These enterprises, which include wholly or partially owned businesses, aim to reduce the region's dependence on coal and provide jobs for those who may otherwise struggle to find employment. The organization's successes are measured using a triple bottom line approach, focusing on people, planet, and profit. Coalfield Development Corporation offers personal and academic development programs to help employees thrive. They also engage in community-based revitalization and development for people facing employment barriers. The organization has a workforce of 120 employees, and their revenue from social enterprises enables them to create jobs and increase their financial sustainability. The organization's communities have been economically distressed due to the over-reliance on coal, so creating new businesses is crucial for providing opportunities for their trainees and graduates.
Is Coalfield Development Corporation legitimate?
Coalfield Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coalfield Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $339,724
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,502,387
For more financial information, click here
Mission Statement of Coalfield Development Corporation
Coalfield Development Corporation, a nonprofit organization, is dedicated to inspiring courage, activating creativity, and cultivating communities of opportunity in Central Appalachia. This mission is carried out through three core capabilities: employment-based social enterprise, community-based revitalization, and development for people facing barriers to employment.
The first of these capabilities is the incubation and investing in employment-based social enterprises. Coalfield Development Corporation owns and operates a family of enterprises designed to diversify the regional economy and reduce dependency on coal. These enterprises prioritize the well-being of their employees, with success measured according to a triple bottom line: people, planet, profit. The success of these enterprises enables the organization to create hundreds of jobs, become less grant-dependent, and more financially sustainable. The communities served by Coalfield Development Corporation are severely economically distressed due to over-reliance on the coal industry. Creating new businesses is therefore critical to realizing the organization's vision, providing trainees and graduates with opportunities to put their new training and credentials to use.
Coalfield Development Corporation's second capability is facilitating professional, personal, and academic development for people facing barriers to employment. Through this capability, the organization equips individuals with the skills and resources needed to secure employment and build better lives for themselves and their communities. By focusing on the personal and academic development of employees, Coalfield Development Corporation not only empowers individuals but also contributes to the overall revitalization of the communities it serves.
Impact
This information is meant to be a general summary of Coalfield Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Coalfield Development Corporation's impact is significant in central Appalachia, particularly in Wayne, West Virginia. By incubating and investing in employment-based social enterprises, they are actively diversifying the regional economy away from dependence on coal. This strategy not only creates jobs but also empowers individuals by providing personal and academic development opportunities. Through their initiatives, they are addressing generational poverty and revitalizing communities that have been severely economically distressed. Their focus on a triple bottom line - people, planet, profit - demonstrates their commitment to creating sustainable and meaningful change in the region.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$317,742
SALES
Revenue
$290,203
PROGRAM AND OTHER INCOME
Revenue
$168,979
GAIN ON PROGRAM INVESTMENT
Revenue
$6,388
Organization Details
Founding Year
2008
Phone
(304) 501-4755
Principal Officer
Brandon M Dennison
Main Address
PO BOX 1133, WAYNE, WV, 25570
NTEE Category
Code: L99 - Housing
If you are a representative of Coalfield Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.