NonprofitsCapital Area Development Corporation Of West Virginia

Capital Area Development Corporation Of West Virginia

CHARLESTON, WV

Total revenue

$2.7M

Total expenses

$1.9M

Net assets

$8.2M

Grants received

$604K

8 grants

EIN

556024192

Tax year

2024

Mission

Capital Area Development Corporation of West Virginia dba Charleston Area Alliance serves as a catalyst for change for Charleston, Kanawha County, and the surrounding area, leading with innovative and collaborative approaches to shape a prosperous economy that fosters growth and attracts people and investment. We are a community and economic development organization that connects businesses, entrepreneurs and young talent with the resources needed to succeed. Our strategic plan will stimulate job creation, attract new industries, bolster the region's economic resilience, and support energetic and effective local efforts to renew our capital city as strong and vibrant.

Programs

3 programs

Operation of Business Incubator - Program supports entrepreneurial and small business development. Goals include: increasing awareness of the incubator as an available resource for entrepreneurs in the local area; providing low cost office space for entrepreneurs and start-ups; linking tenant entrepreneurs to available consulting services; providing central location for small business referrals to partners and support systems; increased visibility for entrepreneurs through networking and professional development opportunities.

Expenses: $390K

Community Development - We work diligently to increase our natural and built assets through sustainable redevelopment initiatives. Goals include: stimulating new housing growth in downtown Charleston, developing a formal structure for downtown management and marketing, enhancing our downtown promotional efforts, creating community anchors in the urban core, supporting arts and culture throughout Kanawha County, supporting small businesses with targeted grant opportunities. Our collaborative programs assist with the revitalization of small rural communities, build strong communities and enhance the quality of life in the greater Charleston area.

Expenses: $277KGrants: $57K

Other program services include benefits and opportunities provided to member businesses such as: networking, professional development, referrals and communication.

Expenses: $142K

Financials

FY 2024

Revenue

Contributions & grants$1.4M
Program service revenue$1.2M
Investment income$133K
Other revenue
Total revenue$2.7M

Expenses

Grants paid$211K
Salaries & benefits$744K
Fundraising$62K
Other expenses$978K
Total expenses$1.9M
Total assets$10.7M
Net assets$8.2M

People

40 listed

NameRoleCompensation

Debra S James

CFO

Board

$138K

40 hrs/wk

Mara C Boggs

President and CEO from 10/01/24

Board

$65K

40 hrs/wk

Nicole Christian

President and CEO - former

Board

$60K

40 hrs/wk

Tessa M White

Secretary

Board

1 hrs/wk

Matthew Bond

Treasurer

Board

1 hrs/wk

Kristen Anderson

Director

Board

1 hrs/wk

Nancy Bruns

Director

Board

1 hrs/wk

Robert Burton

Director

Board

1 hrs/wk

Ericke Cage

Director

Board

1 hrs/wk

Sandy Call

Director

Board

1 hrs/wk

Steven Collins

Director

Board

1 hrs/wk

Kensie Hamilton Fauber

Director

Board

1 hrs/wk

David P Ferretti

Director

Board

1 hrs/wk

Scott Geotz

Director

Board

1 hrs/wk

John Hebert

Director

Board

1 hrs/wk

Michael Holtsclaw

Director

Board

1 hrs/wk

Mike McCown

Director

Board

1 hrs/wk

Chris Morris

Director

Board

1 hrs/wk

Evan Osborn

Director

Board

1 hrs/wk

C Anthony Parker

Director

Board

1 hrs/wk

Marcus Phillips

Director

Board

1 hrs/wk

Jack Rossi

Director

Board

1 hrs/wk

Martin Roth

Director

Board

1 hrs/wk

Jeff Sandene

Director

Board

1 hrs/wk

John Scalzo

Director

Board

1 hrs/wk

Lyle Smith

Director

Board

1 hrs/wk

Patrick Smith

Director

Board

1 hrs/wk

Diana Sole

Director

Board

1 hrs/wk

Aaron Sporck

Director

Board

1 hrs/wk

Diane Strong-Treister

Director

Board

1 hrs/wk

Ben Thomas

Director

Board

1 hrs/wk

Bob Welch

Director

Board

1 hrs/wk

Ron Butlin

Ex-Officio Director

Board

1 hrs/wk

Mayor Amy Goodwin

Ex-Officio Director

Board

1 hrs/wk

Mayor Frank A Mullens

Ex-Officio Director

Board

1 hrs/wk

Dominique Ranieri

Ex-Officio Director

Board

1 hrs/wk

Jack W Nuckols

Ex-Officio Director

Board

1 hrs/wk

Commissioner Marc Slotnick

Ex-Officio Director

Board

1 hrs/wk

Adam R Krason

Chair

Board

3 hrs/wk

Ellen S Cappellanti

Vice Chair

Board

1 hrs/wk

Grants received

Showing 8 of 8

FromAmountPurposeYear
$177K
Support of small business incubator in a federally designated HUBZone
2024
$20K
Support of Small Business Incubator in a federally designated HUBZone
2023
$7K
Event Sponsorship
2023
$177K
Support of business incubator
2022
$5K
CO-SPONSOR LEADERSHIP KANAWHA VALLEY
2021
$206K
Business Incubator
2020
$5K
CO-SPONSOR LEADERSHIP KANAWHA VALLEY
2020

Funded by

$604K from 3 funders · 8 grants · 2020–2024

Cadco Foundation Inc

$580K · 4 grants · 2020–2024

Thomas Health System Inc

$17K · 3 grants · 2020–2023

Details

EIN556024192
Subsection04
Ruling date1963-10
Formed1963
Employees11
Volunteers100
CAPITAL AREA DEVELOPMENT CORPORATION OF WEST VIRGINIA — Mission, Financials & Grants Received | Grantivo