2024-10-16T07:51:08-05:00 2023-12-31 020417217 LEONE MCDONNELL & ROBERTS PA 61 SOUTH MAIN STREET PO BOX 1140 WOLFEBORO NH 03894 990 2023-01-01 020474842 WENTWORTH ECONOMIC DEVELOPMENT CORP INC WENT 6035694216 PO BOX 641 WOLFEBORO NH 03894 DANIEL OSETEK PRESIDENT 6035694216 2024-08-27 1 0 EVAN J STOWELL P00846331 6035691953 2024-08-27 2023 2024-10-15 13:58:12Z DANIEL OSETEK PO BOX 641 WOLFEBORO NH 03894 581662 0 X WWW.WEDCO-NH.ORG X 1993 NH FOUNDED FOR THE SOLE PURPOSE OF PROMOTING ECONOMIC GROWTH IN THE EASTERN LAKES REGION. 8 8 3 8 0 0 156264 197925 96871 79424 312 1181 2128 303132 255575 581662 0 0 0 0 86422 101835 0 0 5821 178847 556968 265269 658803 -9694 -77141 1587028 1857711 440846 788670 1146182 1069041 FOUNDED FOR THE SOLE PURPOSE OF PROMOTING ECONOMIC GROWTH IN THE EASTERN LAKES REGION. 0 0 583377 383737 WENTWORTH ECONOMIC DEVELOPMENT CORPORATION (WEDCO) IS A 501(C)3 OPERATING IN SOUTHERN CARROLL AND NORTHERN STRAFFORD COUNTIES WITH A STATED MISSION TO ADVISE, FINANCE AND PROMOTE THE SMALL BUSINESS ECONOMY IN THE EASTERN LAKES REGION OF NEW HAMPSHIRE. WE FINANCE THOSE THAT MAY NOT MEET THE STANDARDS OF LARGER FINANCIAL INSTITUTIONS. FOCUSING ON CHARACTER, CAPACITY TO REPAY AND CLARITY OF THE BUSINESS PLAN, WEDCO STRIVES TO ESNURE SUSTAINABILITY OF OUR FUNDING SOURCES WHILE WORKING WITH THE OFTEN FINANCIALLY UNDERSERVED. WE CURRENTLY HAVE 24 ACTIVE LOANS IN OUR SERVICE AREA, AND OVER ONE MILLION DOLLARS INVESTED IN OUR COMMUNITIES. WE ARE COMMITTED TO BUSINESS ADVISING FOR SMALL BUSINESS ENTREPRENEURS. TOO MANY GREAT IDEAS FAIL BECAUSE OF LACK OF BUSINESS ACUMEN. WE CONNECT OUR CLIENTS, AT NO EXPENSE, TO THE RESOURCES THEY NEED FOR LONG TERM SUCCESS. WE ALSO WORK WITH COMMUNITY PARTNERS TO HELP LOW TO MODERATE INCOME INDIVIDUALS ACHIEVE THEIR GOALS THROUGH TECHNICAL ASSISTANCE PROGRAMS DESIGNED TO BUILD MORE BUSINESS EDUCATED ENTREPRENEURS. OUR PROMOTION OF THE SMALL BUSINESS ECONOMY OF THE EASTERN LAKES REGION HELPS BRING ECONOMIC STABILITY WHERE IT IS NEEDED MOST. WHEN ONE BUSINESS DOES WELL, A NEIGHBORING BUSINESS MAY DO WELL. AND WHEN ONE BUSINESS STRUGGLES, A NEIGHBORING BUSINESS MAY STRUGGLE. WORKING IN CONJUNCTION WITH REGIONAL ECONOMIC DEVELOPMENT COMMITTEES AND MUNCIPIALITIES WILL HELP BUILD A MORE BUSINESS FRIENDLY ENVIRONNMENT WHICH IN TURN WILL LEAD TO A HEALTHY SMALL BUSINESS ECONOMY. 583377 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X JOHN TERRILL JR 6035694216 PO BOX 641 WOLFEBORO NH 03894 JOHN TERRILL JR EXECUTIVE DIRECTOR 40.00 X 21667 0 43333 DENISE ROY PALMER FORMER EXECUTIVE DIRECTOR 40.00 X 3456 0 0 DANIEL OSETEK PRESIDENT 2.00 X X 0 0 0 BRUCE WOODRUFF VICE PRESIDENT 2.00 X X 0 0 0 JOHN LIBBY TREASUER 2.00 X X 0 0 0 DEBRA GOLDER SECRETARY 2.00 X X 0 0 0 KATHY FAIRMAN DIRECTOR 2.00 X 0 0 0 LAURA COLBATH DIRECTOR 2.00 X 0 0 0 JAMI BOURDEAU DIRECTOR 2.00 X 0 0 0 MONIKA O'CLAIR DIRECTOR 2.00 X 0 0 0 25123 0 43333 0 0 0 0 0 197925 197925 LOAN INTEREST 522291 35743 35743 ADMIN FEES 522291 25302 25302 RMAP INCOME 522291 9445 9445 IRP INCOME 522291 8934 8934 79424 1181 1181 PLAYGROUND INCOME 900099 292360 292360 REIMBURSEMENT 900099 10281 10281 OTHER REVENUE AND SUPP 900099 491 491 303132 581662 383737 0 0 X 25124 19848 2763 2513 27678 21866 3045 2767 43629 43629 5404 4269 594 541 15289 15289 20421 20421 11497 11497 1345 1345 2482 2482 6682 6682 1075 1075 3210 3210 PLAYGROUND EXPENSES 292360 292360 COTTON VALLEY RAIL TRAI 102403 102403 MMR EXPENSES 39081 39081 SCHOLARSHIPS 28000 28000 33123 33123 658803 583377 69605 5821 795506 390452 29957 32757 14402 697426 1238770 8384 863 31844 30399 2520 1445 20478 211779 1587028 1857711 20524 11285 399844 760606 20478 16779 440846 788670 X 97880 128303 1048302 940738 1146182 1069041 1587028 1857711 -77141 0 X X 0 1 X 1 0 X 119883 218694 240492 156264 197925 933258 119883 218694 240492 156264 197925 933258 933258 5321 2309 335 312 1181 9458 2128 303132 305260 1247976 428007 0.74780 0.98330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4825 4825 0 27019 25574 1445 1445 RIGHT-OF-USE ASSET 16779 LOAN DEPOSIT 195000 211779 OPERATING LEASE LIABILITY 16779 16779 X 581662 0 581662 0 581662 658803 0 658803 0 658803 PART X, LINE 2: THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS AND CONCLUDES THAT THERE ARE NO TAX POSITIONS IT HAS TAKEN WHICH, IF CHALLENGED, WOULD RESULT IN A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C AFTER THE ANNUAL MEETING IN JANUARY, THE POLICY IS PROVIDED TO THE BOARD MEMBERS AND THEY ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR PREPARING WRITTEN EVALUATIONS AND MAKING RECOMMENDATIONS TO THE BOARD FOR DISCUSSION PURPOSES. THE BOARD MAKES THE FINAL DETERMINATION FOR COMPENSATION. THE BOARD REVIEWS AND EVALUATES THE PERFORMANCE OF THE EXECUTIVE DIRECTOR. THE BOARD THEN MAKES THE FINAL DETERMINATION FOR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ARTICLES OF INCORPORATION ARE READILY AVAILABLE THROUGH THE SECRETARY OF STATE-NH CORPORATE DIVISION'S WEBSITE. OTHER DOCUMENTS, INCLUDING THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. HOWEVER, THE IRS DETERMINATION LETTER IS PROVIDED UPON REQUEST AND INQUIRERS ARE DIRECTED TO THE GUIDESTAR WEBSITE FOR THE ORGANIZATION'S FORM 990. FORM 990, PART IX, LINE 24E RENT: PROGRAM SERVICE EXPENSES 6,785. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,785. IRP EXPENSES: PROGRAM SERVICE EXPENSES 6,443. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,443. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 4,948. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,948. TELEPHONE: PROGRAM SERVICE EXPENSES 2,971. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,971. CNPP EXPENSES: PROGRAM SERVICE EXPENSES 2,470. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,470. MICROENTERPRISE GRANT EXPENSE : PROGRAM SERVICE EXPENSES 2,050. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,050. TRAINING AND EDUCATION: PROGRAM SERVICE EXPENSES 1,953. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,953. EVENTS : PROGRAM SERVICE EXPENSES 1,702. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,702. PRINTING AND REPRODUCTION: PROGRAM SERVICE EXPENSES 1,220. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,220. DONATIONS : PROGRAM SERVICE EXPENSES 833. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 833. EQUIPMENT LEASE : PROGRAM SERVICE EXPENSES 540. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 540. OTHER : PROGRAM SERVICE EXPENSES 496. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 496. BANK SERVICE CHARGES: PROGRAM SERVICE EXPENSES 494. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 494. POSTAGE: PROGRAM SERVICE EXPENSES 218. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 218. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT.