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Coalfield Development Corporation

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 263836207 ✦ Wayne, WV ✦ Designated as a 501(c)(3)

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?

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.




Sunday, April 14, 2024

Coalfield Development Corporation is making a significant impact in Central Appalachia by inspiring courage, activating creativity, and cultivating communities of opportunity. Through their employment-based social enterprises, they are diversifying the regional economy and creating hundreds of jobs for people facing barriers to employment. By focusing on the triple bottom line of people, planet, and profit, they are not only providing economic opportunities but also promoting personal and academic development. This approach is crucial in addressing generational poverty in rural communities affected by extractive mono-economies. Through their innovative initiatives, Coalfield Development Corporation is playing a vital role in transforming the region and creating a more sustainable future.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $-34,636
  • Program Service Revenue: $783,312
  • Gross Receipts: $14,737,780

    • Assets and Liabilities:
  • Total Assets: $24,532,193
  • Total Liabilities: $6,988,598
  • Net Assets: $17,543,595
  • 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

    Principal Officer

    Brandon M Dennison

    Main Address

    PO BOX 1133, WAYNE, WV, 25570

    NTEE Category

    Code: L99 - Housing