Development Fund of Western Reserve Inc
To serve and provide investment capital for low-income communities and low-income persons.
Key facts about Development Fund of Western Reserve Inc
In short: Development Fund of Western Reserve Inc gave $200K across 1 grant in 2024 (avg $200K), mostly in Ohio. Source: 2024 IRS Form 990.
- EIN
- 45-2495397
- Latest 990 filing
- Form 990, 2024
- Annual giving (2024)
- $200,000
- Grants made (2024)
- 1
- Average grant
- $200,000
- Median grant
- $200,000
- Total assets
- $8,636,672
- Primary geography
- Ohio (100% of itemized 2024 grant dollars)
Data from IRS Form 990, 2024; updated September 2026.
Financial Overview
From 2024 IRS Form 990 · View filing
Total Assets
$8.6M
+29.0% YoY
Annual Giving
$200K
-64.0% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$200K
-64.0% YoY
About Development Fund of Western Reserve Inc
Based on IRS filings
Development Fund of Western Reserve Inc is a public charity focused on Community Improvement & Capacity Building, based in Akron, OH. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $8.6M in total assets. In 2024, it awarded 1 grant totaling $200K. Net investment income was $63K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $200K (2024) to $555K (2023). In 2024 it made 1 grant totaling $200K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Western Reserve Community Fund Inc ($200K).
Grant Size Distribution
4 grants across all recorded years
The most common grant size was in the $100–250K range: 2 grants of 4 (50%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Western Reserve Community Fund Inc Akron, OH | The grant funds shall be used to help finance projects organized to support further economic development and job creation in northeast Ohio. | $200,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,636,672 | $6,695,086 | $6,942,255 |
| Revenue | $3,005,151 | $1,433,111 | $1,811,336 |
| Expenses | $1,081,608 | $1,523,921 | $987,951 |
| Net Investment Income | $62,956 | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS June 22, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS July 7, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS August 30, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS August 20, 2024)
- Added Form 990 for fiscal year 2024 (received by the IRS September 17, 2025)
- IRS filings on file for fiscal years 2019–2023
Leadership & Key People
Officers and directors from IRS filings
Development Fund of Western Reserve Inc is led by Joe Rossi, President since 2020 (on filings since 2019); none of the 7 officers listed in 2024 report compensation.
Officers on the 2024 filing
Joe Rossi
President
Member → President, 2020
On filings since 2019
No compensation reported
Rachel Bridenstine
Executive Director
Managing Director → Executive Director, 2021
On filings since 2019
1 hr/week
No compensation reported
Erin Wojno
Secretary
On filings since 2019
No compensation reported
Harry Eadon
Treasurer
On filings since 2019
No compensation reported
Chad Mayle
CFO
On filings since 2022
1 hr/week
No compensation reported
Sarah Lown
Member
On filings since 2022
No compensation reported
Cameo Carey
Member
On filings since 2023
No compensation reported
Former officers (6)
- Former: Patricia McKay (2019–2023) — Member
- Former: Thomas Tatum (2019–2022) — Member
- Former: Aaron Pauly (2022) — Member
- Former: Carol Knapp (2019–2021) — Vice President
- Former: Chris Burnham (2019–2021) — Executive Director
- Former: Fedearia Nicholson-Sweval (2019–2021) — Member
Data from IRS Form 990 filings, 2019–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Development Fund of Western Reserve Inc
How much does Development Fund of Western Reserve Inc give each year?
Development Fund of Western Reserve Inc gave $200K across 1 grant in 2024, according to its 2024 IRS Form 990. In 2023 it gave $555K across 1 grant.
How large is Development Fund of Western Reserve Inc?
Development Fund of Western Reserve Inc reported $8.6M in total assets on its 2024 IRS Form 990. Its revenue that year was $3.0M.
What is Development Fund of Western Reserve Inc?
Development Fund of Western Reserve Inc is a public charity focused on Community Improvement & Capacity Building, based in Akron, OH. It holds $8.6M in total assets as of 2024.
Where does Development Fund of Western Reserve Inc operate?
Development Fund of Western Reserve Inc has awarded grants in Ohio.
What is Development Fund of Western Reserve Inc's EIN?
Development Fund of Western Reserve Inc's EIN (Employer Identification Number) is 45-2495397. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching Development Fund of Western Reserve Inc by hand.
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