2025-06-12T11:49:38-04:00 2024-12-31 264156406 WADOVICK & COMPANY 1300 DIVISION RD STE 104 WEST WARWICK RI 02893 990 2024-01-01 042381829 WORCESTER BUSINESS DEVELOPMENT CORP WORC 5087557883 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087557883 2025-06-10 true false JEFFREY D WADOVICK CPA P01204328 4018234004 2025-06-12 X 2024 2025-03-06 01:10:19Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1979674 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. 25 24 12 0 0 1273613 1470731 350556 387654 129064 121289 1753233 1979674 12500 26200 0 972829 952121 0 0 813964 719587 1799293 1697908 -46060 281766 17978831 18935195 989925 966864 16988906 17968331 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 212119 392151 PROVIDE ASSISTANCE TO SMALL BUSINESSES THROUGH THE FEDERAL 504 LOAN PROGRAM. 1205266 26200 1078580 PROMOTION OF BUSINESS DEVELOPMENT IN THE GREATER WORCESTER REGION. WBDC ALSO ACQUIRES LAND FOR DEVELOPMENT TO BENEFIT THE COMMUNITY INCLUDING REDEVELOPMENT OF BROWNFIELD SITES. 1417385 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 true false true false false false false false false false false false false false false false true true true false false 10 0 true 12 true false false false false false false false false X 25 24 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 407357 0 42893 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 L ROYCE ASST TREASUR 1.00 X X 0 0 0 DAVID E 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 M 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 MICHAEL COVINO 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 CORINNE MALESKI DIRECTOR 1.00 X 0 0 0 ELIZABETH M MCTIGUE DIRECTOR 1.00 X 0 0 0 RENEE A 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 III DIRECTOR 1.00 X 0 0 0 SEAN M ROSE DIRECTOR 1.00 X 0 0 0 EMILY M SRICHAROENCHAIKIT DIRECTOR 1.00 X 0 0 0 RANDAL D WEBBER DIRECTOR 1.00 X 0 0 0 JILL WHITTREDGE DIRECTOR 1.00 X 0 0 0 ROBERTA L BRIEN VP OF PROJEC 20.00 20.00 X 278467 0 44296 KATHLEEN KELLEHER CPA MST CFO 20.00 20.00 X 164761 0 30829 850585 118018 3 false true false PROFESSIONAL SERVICE FEES 541610 981325 981325 SBA REVENUE 522298 392151 392151 ANNUAL MEETING 999999 97255 97255 1470731 387654 159607 228047 119789 119789 119789 119789 OTHER INCOME 1500 1500 1500 1979674 1630338 349336 26200 26200 354076 301491 52585 383641 303437 80204 83544 68506 15038 77641 63667 13974 53219 43640 9579 8330 7080 1250 19415 16503 2912 48000 48000 23310 23310 4378 3721 657 21366 21366 65078 45554 19524 22641 18113 4528 163214 130572 32642 4047 3035 1012 37609 31457 6152 26547 21238 5309 18485 9242 9243 SBA LOAN SERVICE FEES 212119 212119 COMMUNITY SPONSORSHIPS 32500 32500 TRACK FEASABILITY STUDY 8000 8000 MISCELLANEOUS 4548 4548 1697908 1417385 280523 0 8693 115641 2243268 489986 64604 51017 8513253 10629606 2879 2851 829574 426605 400068 402969 428559 497559 5901947 6430443 415560 315123 17978831 18935195 132938 144255 856987 822609 989925 966864 X 16988906 17968331 16988906 17968331 17978831 18935195 281766 697659 X false true X true false 5901947 834886 306390 6430443 5270288 941292 309633 5901947 6622133 -1111095 240750 5270288 5701497 920636 6622133 5857347 458319 614169 5701497 1.00000 false false 656118 278391 377727 173456 148214 25242 402969 COMMONFUND 6430443 F 6430443 457 PLAN LIABILITY 497559 OFFICE LEASE LIABILITY 325050 822609 X SCHEDULE D, PAGE 3, PART X THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, 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, 2024. 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. true WORCESTER RAILERS HC CHARITABLE 900 CUMMINGST CENTER SUITE 226U BEVERLY MA 01915 811645767 501C3 15000 CASH WORCESTER REGIONAL STRATEGIC OPPORTUNITIES FOUNDATION 311 MAIN ST SUITE 200 WORCESTER MA 01608 043265642 501C3 10000 CASH 3 X X false false false false false false false false false CRAIG L BLAIS PRESIDENT & CEO 352357 55000 36846 6047 450250 ROBERTA L BRIEN VP OF PROJECTS 253467 25000 42811 1485 322763 KATHLEEN KELLEHER CPA MST CFO 164761 29582 1247 195590 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 false true false false true false false false false false false false true false true true true true true true 20 FRANKLIN QALICB CORPORATION L 410571 MANAGEMENT FEE NEW GARDEN PARK INC L 100000 SGA DEVELOPER FEE NEW GARDEN PARK INC L 100000 MANAGEMENT FEE NEW GARDEN PARK INC N 159607 INTERCO LOAN INT ACCRUAL NEW GARDEN PARK INC D 10629606 LOAN AGREEMENT NEW GARDEN PARK INC O 945230 PAYROLL, TAXES, BENEFITS