2026-08-07T10:12:47-04:00 2025-12-31 264156406 WADOVICK & COMPANY 1300 DIVISION RD STE 104 WEST WARWICK RI 02893 990 2025-01-01 042381829 WORCESTER BUSINESS DEVELOPMENT CORP WORC 5087557883 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087557883 2026-06-19 true JEFFREY D WADOVICK CPA P01204328 4018234004 2026-06-18 X 2025 2025-03-06 01:10:19Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1756667 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 1470731 1304550 387654 327402 121289 124715 1979674 1756667 26200 0 0 952121 883896 0 0 719587 887886 1697908 1771782 281766 -15115 18935195 19742873 966864 933216 17968331 18809657 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 289438 405742 PROVIDE ASSISTANCE TO SMALL BUSINESSES THROUGH THE FEDERAL 504 LOAN PROGRAM. 1265205 898808 PROMOTION OF BUSINESS DEVELOPMENT IN THE GREATER WORCESTER REGION. WBDC ALSO ACQUIRES LAND FOR DEVELOPMENT TO BENEFIT THE COMMUNITY INCLUDING REDEVELOPMENT OF BROWNFIELD SITES. 1554643 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 12 true false false false false false false false false X 25 24 false false false false false false false true true false false false 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 391887 0 49239 STEPHAN M RODOLAKIS CHAIR 2.00 X X 0 0 0 JESSICA L ROYCE VICE CHAIR 2.00 X X 0 0 0 MARINA L TAYLOR TREASURER 2.00 X X 0 0 0 ROBERT J MORTON ASST. TREASU 2.00 X X 0 0 0 DAVID E SUPRENANT CLERK 2.00 X X 0 0 0 MICHAEL J O'HARA ASST CLERK 2.00 X X 0 0 0 MONICA ARYITEY DIRECTOR 1.00 X 0 0 0 TODD M BAILEY DIRECTOR 1.00 X 0 0 0 ERIC A BUSENBURG DIRECTOR 1.00 X 0 0 0 MICHAEL COVINO DIRECTOR 1.00 X 0 0 0 MARY T DEAN 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 INVESTMENT C 1.00 X 0 0 0 MORGAN STEACY 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 306726 0 45490 KATHLEEN KELLEHER CPA MST CFO 20.00 20.00 X 194471 0 59965 893084 154694 3 false true false PROFESSIONAL SERVICE FEES 541610 805843 805843 SBA REVENUE 522298 405742 405742 ANNUAL MEETING 999999 92965 92965 1304550 327402 159607 167795 124615 124615 124615 124615 OTHER INCOME 100 100 100 1756667 1464157 292510 366019 333369 32650 326059 279107 46952 76615 65582 11033 65198 55809 9389 50005 42804 7201 18113 15396 2717 18741 15930 2811 48000 48000 24943 24943 19475 16554 2921 18160 18160 67164 47014 20150 27203 21762 5441 164049 131239 32810 15883 11912 3971 85859 81919 3940 33192 26553 6639 14429 7214 7215 SBA LOAN SERVICE FEES 239115 239115 COMMUNITY SPONSORSHIPS 67921 67921 BAD DEBT EXPENSE 22500 22500 MISCELLANEOUS 3139 3139 1771782 1554643 217139 0 115641 52816 489986 85243 51017 61870 10629606 11249921 2851 2485 858037 459797 402969 398240 497559 568059 6430443 7114527 315123 209712 18935195 19742873 144255 143831 822609 789385 966864 933216 X 17968331 18809657 17968331 18809657 18935195 19742873 -15115 856441 X false true X true false 6430443 995362 311278 7114527 5901947 834886 306390 6430443 5270288 941292 309633 5901947 6622133 -1111095 240750 5270288 5701497 920636 6622133 1.00000 false false 650290 298226 352064 184576 151842 32734 23171 9729 13442 398240 COMMONFUND 7114527 F 7114527 457 PLAN LIABILITY 568059 OFFICE LEASE LIABILITY 215405 DUE TO AFFILIATES-NGP 5921 789385 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, 2025. 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 361294 25000 5593 47529 3092 441126 ROBERTA L BRIEN VP OF PROJECTS 284768 20000 1958 42567 4305 352216 KATHLEEN KELLEHER CPA MST CFO 179471 15000 35480 25784 254436 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 435218 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 11249921 LOAN AGREEMENT NEW GARDEN PARK INC O 1004994 PAYROLL, TAXES, BENEFITS 20 FRANKLIN QALICB CORPORATION Q 4680 TRAVEL REIMBURSEMENT