2024-02-07T20:09:26-05:00 2023-09-30 364119639 KOLNICKI PETERSON & WIRTH CPA'S 1400 OPUS PLACE SUITE 100 DOWNERS GROVE IL 60515 990 2022-10-01 272304093 WESSEX 504 CORPORATION WESS 3125274927 175 N HARBOR DRIVE SUITE 3202 CHICAGO IL 60601 KAREN LENNON PRESIDENT 3125274927 2024-02-07 true KARREN LENNON 999009999 true KENNETH W PETERSON CPA P00046293 6303901140 2024-02-07 2022 2023-04-26 12:10:37Z KAREN LENNON 175 N HARBOR DRIVE SUITE 3202 CHICAGO IL 60601 759654 false X WWW.WESSEX504.COM X 2010 IL WESSEX 504 CORPORATION IS A NON-PROFIT COMPANY CERTIFIED BY THE U. S. SMALL BUSINESS ADMINISTRATION TO ORIGINATE AND SERVICE SBA 504 LOANS. AS AN SBA CERTIFIED DEVELOPMENT COMPANY, WESSEX 504 CORPORATION WORKS WITH THE SMALL BUSINESS ADMINISTRATION AND LENDERS TO DELIVER THE 504 LOAN PROGRAM TO BUSINESSES. WESSEX 504'S OBJECTIVE IS TO ASSIST HEALTHY, GROWING BUSINESSES SECURE LONG TERM, BELOW MARKET, FIXED RATE FINANCING FOR THE ACQUISITION OF REAL ESTATE OR CAPITAL EQUIPMENT. IN TURN, THESE BUSINESSES ARE ABLE TO CREATE NEW JOBS AND STRENGTHEN THEIR COMMUNITIES WHILE CONTINUING TO GROW. 10 10 1 0 0 765118 712826 0 8061 46828 773179 759654 0 0 534875 401685 0 0 192574 462153 727449 863838 45730 -104184 316004 211820 0 316004 211820 X WESSEX 504 CORPORATION IS A NON-PROFIT COMPANY CERTIFIED BY THE U. S. SMALL BUSINESS ADMINISTRATION TO ORIGINATE AND SERVICE SBA 504 LOANS. AS AN SBA CERTIFIED DEVELOPMENT COMPANY, WESSEX 504 CORPORATION WORKS WITH THE SMALL BUSINESS ADMINISTRATION AND LENDERS TO DELIVER THE 504 LOAN PROGRAM TO BUSINESSES. WESSEX 504'S OBJECTIVE IS TO ASSIST HEALTHY, GROWING BUSINESSES SECURE LONG TERM, BELOW MARKET, FIXED RATE FINANCING FOR THE ACQUISITION OF REAL ESTATE OR CAPITAL EQUIPMENT. IN TURN, THESE BUSINESSES ARE ABLE TO CREATE NEW JOBS AND STRENGTHEN THEIR COMMUNITIES WHILE CONTINUING TO GROW. false false 821466 712826 DURING THE FISCAL YEAR ENDED, THE ORGANIZATION PROCESSED 5 LOANS THAT WERE AUTHORIZED BY THE SBA, WHICH WILL CREATE OVER 92 JOBS IN THE COMMUNITIES. IN ADDITION, THE ORGANIZATION FUNDED 9 OTHER LOANS THAT WILL CREATE 146 JOBS IN THE COMMUNITIES. 821466 false false false false false false false false false true false false false false false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false true 0 0 1 true false false false false false false false false X 10 10 false false false false true true false true true false false false true true true false true true false false X KAREN LENNON 3125274927 175 N HARBOR DRIVE SUITE 3202 CHICAGO IL 60601 KAREN LENNON PRESIDENT 40.00 X X 383750 0 0 JOE BOHNE SECRETARY 1.00 X X 0 0 0 LEN BUONINCONTRO DIRECTOR 1.00 X 0 0 0 BILL CHAPMAN DIRECTOR 1.00 X 0 0 0 MIKE CHIN DIRECTOR 1.00 X 0 0 0 GARRETT DRUCKER DIRECTOR 1.00 X 0 0 0 H BARRY GOODMAN DIRECTOR 1.00 X 0 0 0 TOM MEYER DIRECTOR 1.00 X 0 0 0 GARY PEELE DIRECTOR 1.00 X 0 0 0 PAM SHARAR-STOPPEL DIRECTOR 1.00 X 0 0 0 383750 1 false true false SERVICING FEES 522291 584000 584000 PROCESSING FEES 522291 120826 120826 APPLICATION FEES 522291 8000 8000 712826 OTHER REVENUE 46828 46828 46828 759654 712826 46828 383750 364562 19188 17935 17038 897 9100 9100 998 749 249 9100 6825 2275 3914 1957 1957 637 637 414 414 12985 9739 3246 CONSULTING FEES 270000 256500 13500 SBA GUARANTEE FEE 116923 116923 CLOSING COSTS 15309 15309 INVEST. - OTHER ECON DEVE 10000 10000 12773 11713 1060 863838 821466 42372 0 132471 40324 180810 169188 17166 16858 723 308 2000 2000 316004 211820 0 0 X 316004 211820 316004 211820 316004 211820 -104184 X false true X true false 17166 16858 308 308 759654 759654 759654 863838 863838 863838 false false false false false false false false false KAREN LENNON PRESIDENT 383750 383750 FORM 990 - ORGANIZATION'S MISSION WESSEX 504 CORPORATION IS A NON-PROFIT COMPANY CERTIFIED BY THE U. S. SMALL BUSINESS ADMINISTRATION TO ORIGINATE AND SERVICE SBA 504 LOANS. AS AN SBA CERTIFIED DEVELOPMENT COMPANY, WESSEX 504 CORPORATION WORKS WITH THE SMALL BUSINESS ADMINISTRATION AND LENDERS TO DELIVER THE 504 LOAN PROGRAM TO BUSINESSES. WESSEX 504'S OBJECTIVE IS TO ASSIST HEALTHY, GROWING BUSINESSES SECURE LONG TERM, BELOW MARKET, FIXED RATE FINANCING FOR THE ACQUISITION OF REAL ESTATE OR CAPITAL EQUIPMENT. IN TURN, THESE BUSINESSES ARE ABLE TO CREATE NEW JOBS AND STRENGTHEN THEIR COMMUNITIES WHILE CONTINUING TO GROW. FORM 990, PAGE 6, PART VI, LINE 6 THE COMPANY HAS 10 MEMBERS AS PART OF IT'S ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS SHALL BE ELECTED BY THE MEMBERS AT THE ANNUAL MEETING OF THE MEMBERS. FOR NEWLY CREATED DIRECTORSHIPS RESULTING FROM ANY INCREASE IN THE NUMBER OF DIRECTORS, THE NEW DIRECTOR(S) MUST BE CHOSEN FROM THE MEMBERSHIP BY THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B THE PRESIDENT AND QUALIFIED BOARD MEMBER(S) WILL REVIEW THE FORM 990 AND APPROVE IT PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION REQUIRES BOARD MEMBERS TO ANNUALLY CERTIFY THAT THEY ARE NOT AWARE OF ANY FACTS THAT WOULD GIVE RISE TO A CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE ORGANIZATION'S TRADE ASSOCIATION, NADCO, PROVIDES THE RESULTS OF THEIR COMPENSATION SURVEYS FOR CERTIFIED DEVELOPMENT COMPANIES ACROSS THE COUNTRY. THE INFORMATION IS USED TO DETERMINE COMPENSATION LEVELS. FORM 990, PAGE 6, PART VI, LINE 19 UNDER THE REGULATIONS OF THE SBA, INFORMATION ABOUT THE ORGANIZATION IS AVAILABLE TO THE PUBLIC THROUGH THE SBA.