2025-11-16T09:50:10-06:00 2024-12-31 222027092 WITHUM SMITH & BROWN PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2024-01-01 204230463 WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC WEST 7163934088 1432 NIAGARA STREET BUFFALO NY 14213 CAROLYNN WELCH EXECUTIVE DIRECTOR 7163934088 2025-11-15 1 0 MARY MADONIA P00405803 7168472651 2025-11-15 2024 2025-03-06 01:10:19Z CAROLYNN WELCH 1432 NIAGARA STREET BUFFALO NY 14213 2190817 0 X WWW.WEDIBUFFALO.ORG X 2006 NY WEDI STRENGHTENS COMMUNITIES THROUGH A CONTINUUM OF EDUCATIONAL AND FINANCIAL RESOURCES FOR ALL WESTERN NEW YORKERS. 14 14 53 50 0 0 6714496 1557693 186939 331763 24756 -11210 -7485 293554 6918706 2171800 1763 0 0 0 1375970 1079735 0 0 180195 1095804 1103882 2473537 2183617 4445169 -11817 12601013 11712530 2551962 1675296 10049051 10037234 X WEDI STRENGHTENS COMMUNITIES THROUGH A CONTINUUM OF EDUCATIONAL AND FINANCIAL RESOURCES FOR ALL WESTERN NEW YORKERS. 0 0 426110 292432 COMMUNITY DEVELOPMENT - WEST SIDE BAZAAR AND DOWNTOWN BAZAAR SMALL BUSINESS INCUBATOR LOCATED IN GROWING COMMERCIAL DISTRICTS IN BUFFALO, NEW YORK. WESTMINISTER ECONOMIC DEVELOPMENT INITIATIVE (WEDI) IS DEDICATED TO OFFERING MERCHANTS A STABLE AND AFFORDABLE ENVIRONMENT TO GROW THEIR "GRASSROOTS" BUSINESSES. WEDI IS COMMITTED TO OFFERING CLIENTS BUSINESS COACHING, FINANCIAL MENTORING, LOW INTEREST LOANS, NETWORKING/MARKETING OPPORTUNITIES, AND STEADY CUSTOMER TRAFFIC. 836439 39331 ECONOMIC DEVELOPMENT - PROVIDED A COMPREHENSIVE MODEL FOR GENERATING WEALTH FOR MOTIVATED INDIVIDUALS THROUGH THE CREATION OR EXPANSION OF A SMALL BUSINESS. WEDI'S PROGRAM IS UNIQUE IN ITS ABILITY TO PROVIDE A BROAD RANGE OF SERVICES, UTILIZING EXISTING COMMUNITY RESOURCES WHEN AVAILABLE, AND MOLD THE PROCESS TO EACH INDIVIDUAL. THIS IS DONE THROUGH MENTORS, WHO WORK WITH CLIENTS INDIVIDUALLY AND THROUGH PARTNERSHIPS WITH LOCAL ORGANIZATIONS. WEDI CAN PROVIDE A RANGE OF SERVICE FROM BASIC FINANCIAL LITERACY TO SPECIALIZED TRAINING AND TECHNICAL ASSISTANCE. WEDI OFFERS A MICRO LOAN PROGRAM THAT OFFERS SMALL, TARGETED LOANS FOR BUSINESS CREATION OR EXPANSION IN WEDI'S TARGET AREA THAT CAN DIRECTLY RESULT IN INCREASED INCOME AND WEALTH GENERATION. 315637 EDUCATION, NURTURE, ENCOURAGEMENT, READINESS, AND GROWTH FOR YOUTH (ENERGY), LAUNCH, AND FOCUSED LEARNING FOR YOUTH (FLY) - THE FOCUS OF THESE PROGRAMS IS TO HELP ENGLISH LANGUAGE LEARNERS (ELLS) SPECIFICIALLY STUDENTS WITH INTERRUPTED FORMAL EDUCATION (SIFE) TO IMPROVE MORE QUICKLY, ACADEMICALLY, AND SOCIALLY THAN THEY WOULD WITHOUT ENERGY, LAUNCH, OR FLY'S INPUT OUTSIDE OF SCHOOL. CHILDREN RECEIVE HOMEWORK AND ACADEMIC SUPPORT, ENJOY A SHARED FAMILY STYLE MEAL AND GAIN ACCESS TO INDIVIDUAL ADULT MENTORS AND TUTORS. 188192 ALL OTHER RELATED REVENUES 188192 1578186 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 25 0 1 53 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X THE ORGANIZATION 7163934088 1432 NIAGARA STREET BUFFALO NY 14213 STEPHEN ZENGER BOARD MEMBER 1.00 X 0 0 0 KRISTA SCHWARTZOTT BOARD MEMBER/PRESIDENT 10.00 X X 0 0 0 CONCETTA FERGUSON BOARD MEMBER 1.00 X 0 0 0 MELANIE JASKOLKA BOARD MEMBER/VICE PRESIDEN 10.00 X X 0 0 0 LUKE DONIGAN BOARD MEMBER/ASSIST SECRET (TO 12/31/24) 1.00 X X 0 0 0 JOANN BELLIOTTI BOARD MEMBER (TO 9/30/24) 1.00 X 0 0 0 INDU DEWAN BOARD MEMBER 1.00 X 0 0 0 ZELALEM GEMMEDA BOARD MEMBER (TO 12/31/24) 1.00 X 0 0 0 DONNA GENESKY BOARD MEMBER (TO 8/31/24) 1.00 X 0 0 0 MICHAEL KENLINE BOARD MEMBER 1.00 X 0 0 0 GUSTAVO LIMA BOARD MEMBER 1.00 X 0 0 0 CATHERINE MARCH BOARD MEMBER 1.00 X 0 0 0 BETSY MITCHELL BOARD MEMBER (TO 12/31/24) 1.00 X 0 0 0 KATIE O'CONNOR BOARD MEMBER 1.00 X 0 0 0 MIMI STEADMAN BOARD MEMBER/SECRETARY 1.00 X X 0 0 0 CHRISTINE UWIMBABAZI BOARD MEMBER 1.00 X 0 0 0 CAROLYNN WELCH EXECUTIVE DIRECTOR 40.00 X 84845 0 11075 84845 0 11075 0 0 0 0 0 14450 1490461 52782 1557693 COMMUNITY DEVELOPMENT 900099 209613 209613 RENTAL INCOME 900099 82819 82819 ECONOMIC DEVELOPMENT 900099 39331 39331 331763 55 55 11265 -11265 -11265 -11265 113114 14450 7752 105362 105362 MISCELANEOUS 900099 188192 188192 188192 2171800 519955 0 94152 82051 55795 14769 11487 831466 565397 149664 116405 17971 12220 3235 2516 67207 45701 12097 9409 81040 55107 14587 11346 1861 91 1740 30 153891 7538 143873 2480 51790 2537 48418 835 2542 2542 67694 29414 31693 6587 38270 38270 89717 89618 99 2906 2906 174524 174524 15711 15711 42650 42650 FOOD 200422 200262 160 BAD DEBT EXPENSE 130172 125422 4750 PROGRAM EXPENSE 56786 56786 REPAIRS AND MAINTENANCE 25267 20466 4801 49679 35229 100 14350 2183617 1578186 425236 180195 933710 793847 3221126 2234087 4310 185760 302684 168428 11876 26525 572278 65054 52425 507224 8074882 7796659 12601013 11712530 131250 511483 30876 60876 2313193 1022764 76643 80173 2551962 1675296 X 9356101 9552642 692950 484592 10049051 10037234 12601013 11712530 -11817 0 X X 0 1 X 1 1 1 X 1994526 4714674 2979811 6714496 1557693 17961200 1994526 4714674 2979811 6714496 1557693 17961200 1879567 16081633 24756 55 24811 1676 331 3749 6275 12031 17998042 1643117 0.89350 0.90560 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 1,676. 2021 AMOUNT: $ 331. 2022 AMOUNT: $ 3,749. 2023 AMOUNT: $ 6,275. 2024 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46100 41161 4939 43171 23893 19278 483007 483007 507224 ADVANCE OF LEVERAGE LOAN 1314548 INVESTMENT IN WSB BUFFALO MM, LLC 6151385 DUE FROM RELATED PARTIES 330726 7796659 OTHER LIABILITIES 80173 80173 WEDIFEST 127564 14450 113114 7752 127564 14450 113114 7752 7752 105362 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. THE EXECUTIVE DIRECTOR REVIEWS A DRAFT PRIOR TO FILING. A COPY OF THE FORM 990 IS PROVIDED TO ALL VOTING MEMBERS OF THE GOVERNING BODY (BOARD OF DIRECTORS) PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURES ARE SIGNED ANNUALLY BY ALL DIRECTORS AS WELL AS NEW MEMBERS JOINING THE BOARD DURING INTERIM PERIODS. THIS PROCEDURE IS A REGULAR AGENDA ITEM AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS COMPARED TO OTHER LOCAL ORGANIZATIONS, SCALED FOR APPROPRIATE SIZE, AND ADJUSTED ACCORDING TO PERFORMANCE REVIEWS. ALL OTHER EMPLOYEE SALARIES ARE AT THE DISCRETION OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 AND FORM 1023 ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE FOR INSPECTION AT THE ADMINISTRATIVE OFFICES. COPIES CAN BE OBTAINED AT THE REQUESTING PARTY'S EXPENSE. FORM 990, PART XII, LINE 2C THERE WAS NO CHANGE FROM THE PRIOR YEAR IN THE AUDIT OVERSIGHT PROCESS OR THE INDEPENDENT ACCOUNTANT SELECTION PROCESS. WEST SIDE BAZAAR INC (WSBI) 1432 NIAGARA STREET BUFFALO NY 14213 871265522 RESIDENTIAL SERVICES NY 501(C)(3) LINE 10 WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC 1 1432 NIAGARA BUFFALO LLC 1432 NIAGARA STREET BUFFALO NY 14213 874625708 RESIDENTIAL REAL ESTATE NY WSB BUFFALO MM LLC RELATED 7880605 0 1 0.01000 WSB BUFFALO MM LLC (WSB BUFFALO) 1432 NIAGARA STREET BUFFALO NY 14213 874723775 RESIDENTIAL REAL ESTATE NY WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC C 4903 5862512 0.95000 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0