2024-09-25T11:16:25-04:00 2023-12-31 264156406 WADOVICK & COMPANY 1300 DIVISION RD STE 104 WEST WARWICK RI 02893 990 2023-01-01 042381829 WORCESTER BUSINESS DEVELOPMENT CORP WORC 5087557883 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087557883 2024-07-10 true false JEFFREY D WADOVICK CPA P01204328 4018234004 2024-09-25 X 2023 2024-08-08 14:25:15Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1753233 false X WWW.THEWBDC.COM X 1965 MA TO SERVE AS AN INNOVATION AND LEADING FORCE IN THE ECONOMIC DEVELOPMENT OF THE CITY OF WORCESTER AND THE REGION, RESULTING IN JOB CREATION AND TAX BASED EXPANSION. 21 20 11 0 98759 0 1414463 1273613 239430 350556 116503 129064 1869155 1753233 15000 12500 0 847421 972829 0 0 837422 813964 1699843 1799293 169312 -46060 17242895 17978831 1048365 989925 16194530 16988906 X THE WORCESTER BUSINESS DEVELOPMENT CORPORATION (WBDC) IS A PRIVATE, NON- PROFIT BUSINESS ORGANIZATION WITH A PUBLIC PURPOSE MISSION TO SERVE AS AN INNOVATION AND LEADING FORCE IN THE ECONOMIC DEVELOPMENT OF THE CITY OF WORCESTER AND THE REGION, RESULTING IN JOB CREATION AND TAX BASE EXPANSION. false false 193204 323863 PROVIDE ASSISTANCE TO SMALL BUSINESSES THROUGH THE FEDERAL 504 LOAN PROGRAM. 1315261 12500 949750 PROMOTION OF BUSINESS DEVELOPMENT IN THE GREATER WORCESTER REGION. WBDC ALSO ACQUIRES LAND FOR DEVELOPMENT TO BENEFIT THE COMMUNITY INCLUDING REDEVELOPMENT OF BROWNFIELD SITES. 1508465 false false false false false false false false true true true false false true true false true 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 true true true false false 14 0 true 11 true false false false false false false false false X 21 20 false false false false false false false true true false false true true true true true true false false false X X KATHLEEN KELLEHER CPA (CFO) 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & 20.00 20.00 X X 385247 0 51240 ROBERT J MORTON CHAIR 1.00 X X 0 0 0 STEPHAN M RODOLAKIS VICE CHAIR 1.00 X X 0 0 0 MARINA L TAYLOR TREASURER 1.00 X X 0 0 0 JESSICA MCGARRY ASST TREASUR 1.00 X 0 0 0 DAVID SUPRENANT CLERK 1.00 X X 0 0 0 MICHAEL J O'HARA ASST CLERK 1.00 X X 0 0 0 MONICA ARYITEY DIRECTOR 1.00 X 0 0 0 TODD BAILEY DIRECTOR 1.00 X 0 0 0 ADRIAN A BERTHIAUME DIRECTOR 1.00 X 0 0 0 ERIC A BUSENBURG DIRECTOR 1.00 X 0 0 0 ERIC L GOODWINE DIRECTOR 1.00 X 0 0 0 ROBERT J HENNIGAN NGP/PROJECT 1.00 X 0 0 0 DENNIS F KERRIGAN DIRECTOR 1.00 X 0 0 0 CHRISTOPHER MCCARTHY DIRECTOR 1.00 X 0 0 0 RENEE MIKITARIAN-BRADLEY DIRECTOR 1.00 X 0 0 0 TIMOTHY P MURRAY DIRECTOR 1.00 X 0 0 0 STEPHANIE RAMEY DIRECTOR 1.00 X 0 0 0 DANIEL REA DIRECTOR 1.00 X 0 0 0 EDWARD RUSSO DIRECTOR 1.00 X 0 0 0 EMILY M SRICHAROENCHAIKIT DIRECTOR 1.00 X 0 0 0 ROBERTA L BRIEN VP OF PROJEC 20.00 20.00 X 258446 0 51950 KATHLEEN KELLEHER CPA MST CFO 20.00 20.00 X 174752 0 30782 818445 133972 3 false true false PROFESSIONAL SERVICE FEES 541610 744310 744310 SBA REVENUE 522298 323863 323863 BIOMANUFACTURING SUMMIT 999999 106507 106507 ANNUAL MEETING 999999 98933 98933 1273613 350556 159607 190949 129058 129058 129058 129058 OTHER INCOME 6 6 6 1753233 1433220 320013 12500 12500 385590 317421 68169 346168 282621 63547 161770 132651 29119 17921 14695 3226 61380 50332 11048 166 166 18770 15954 2816 48000 48000 20798 20798 4758 4045 713 19301 19301 75852 53096 22756 22303 17842 4461 176815 141452 35363 35269 26451 8818 102798 100180 2618 24301 20806 3495 27836 13918 13918 SBA LOAN SERVICE FEES 193204 193204 COMMUNITY SPONSORSHIPS 30000 30000 BAD DEBT EXPENSE 12333 12333 MISCELLANEOUS 1460 1460 1799293 1508465 290828 0 303856 8693 404593 2243268 43011 64604 9763286 8513253 3191 2879 800126 400058 407025 400068 361059 428559 5270288 5901947 686586 415560 17242895 17978831 163250 132938 885115 856987 1048365 989925 X 16194530 16988906 16194530 16988906 17242895 17978831 -46060 840436 X false true X true false 5270288 941292 309633 5901947 6622133 -1111095 240750 5270288 5701497 920636 6622133 5857347 458319 614169 5701497 4931299 1208489 282441 5857347 1.00000 false false 630224 260576 369648 152559 137496 15063 17343 1986 15357 400068 COMMONFUND 5901947 F 5901947 457 PLAN LIABILITY 428559 OFFICE LEASE LIABILITY 427649 DUE TO AFFILIATES 779 856987 X SCHEDULE D, PAGE 3, PART X THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE COMBINED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE COMBINED FINANCIAL STATEMENTS AT DECEMBER 31, 2023. THE ORGANIZATION'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. X X false false false false false false false false false CRAIG L BLAIS PRESIDENT & CEO 327247 58000 35346 15894 436487 ROBERTA L BRIEN VP OF PROJECTS 238645 19801 41610 10340 310396 KATHLEEN KELLEHER CPA MST CFO 154061 20691 29462 1320 205534 FORM 990 - ORGANIZATION'S MISSION THE WORCESTER BUSINESS DEVELOPMENT CORPORATION (WBDC) IS A PRIVATE, NON- PROFIT BUSINESS ORGANIZATION WITH A PUBLIC PURPOSE MISSION TO SERVE AS AN INNOVATION AND LEADING FORCE IN THE ECONOMIC DEVELOPMENT OF THE CITY OF WORCESTER AND THE REGION, RESULTING IN JOB CREATION AND TAX BASE EXPANSION. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 12C EVERY MEMBER OF THE BOARD OF DIRECTORS SIGNS A WRITTEN CONFLICT OF INTEREST POLICY EVERY YEAR. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. NEW GARDEN PARK INC 89 SHREWSBURY STREET SUITE 300 WORCESTER MA 01604 201727883 DEVELOP IN MA 501C3 12A WORCESTER true 20 FRANKLIN QALICB CORPORATION 89 SHREWSBURY ST WORCESTER MA 01604 800957186 REAL ESTAT N/A C CORP true true false false true false false false false false false false true false true true true true true true 20 FRANKLIN QALICB CORPORATION L 395000 MANAGEMENT FEE 20 FRANKLIN QALICB CORPORATION O 4680 REIMBURSED EXPENSES NEW GARDEN PARK INC L 100000 MANAGEMENT FEE NEW GARDEN PARK INC N 159607 INTERCO LOAN INT ACCRUAL NEW GARDEN PARK INC D 8513253 LOAN AGREEMENT NEW GARDEN PARK INC Q 10660 REIMBURSED EXPENSES NEW GARDEN PARK INC O 987044 PAYROLL, TAXES, BENEFITS