2023-10-16T11:58:49-04:00 2022-12-31 264156406 WADOVICK & COMPANY 1300 DIVISION RD STE 104 WEST WARWICK RI 02893 990 2022-01-01 042381829 WORCESTER BUSINESS DEVELOPMENT CORP WORC 5087557883 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087557883 2023-06-28 true CRAIG BLAIS XXX-XX-XXXX false JEFFREY D WADOVICK CPA P01204328 4018234004 2023-10-16 X 2022 2023-04-26 12:10:37Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1872552 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. 24 23 13 0 218530 98759 1158993 1414463 419749 239430 172367 116503 1969639 1869155 67000 15000 0 1011291 847421 0 0 1836667 837422 2914958 1699843 -945319 169312 18366111 17242895 1167808 1048365 17198303 16194530 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 224088 331753 PROVIDE ASSISTANCE TO SMALL BUSINESSES THROUGH THE FEDERAL 504 LOAN PROGRAM. 1229305 15000 1082710 PROMOTION OF BUSINESS DEVELOPMENT IN THE GREATER WORCESTER REGION. WBDC ALSO ACQUIRES LAND FOR DEVELOPMENT TO BENEFIT THE COMMUNITY INCLUDING REDEVELOPMENT OF BROWNFIELD SITES. 1453393 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 16 0 true 13 true false false false false false false false false X 24 23 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 363484 0 70060 CHERYL M LAPIORE CHAIR 1.00 X X 0 0 0 ROBERT J MORTON VICE CHAIR 1.00 X X 0 0 0 MARINA L TAYLOR TREASURER 1.00 X X 0 0 0 CHRISTOPHER MCCARTHY ASSISTANT TR 1.00 X X 0 0 0 MICHAEL J O'HARA CLERK 1.00 X X 0 0 0 ROBERT J HENNIGAN 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 ERIC A BUSENBURG DIRECTOR 1.00 X 0 0 0 JILL C DAGILLIS DIRECTOR 1.00 X 0 0 0 DONALD F DOYLE DIRECTOR 1.00 X 0 0 0 MARGARET GUZMAN DIRECTOR 1.00 X 0 0 0 TIMOTHY M JARRY DIRECTOR 1.00 X 0 0 0 DENNIS F KERRIGAN DIRECTOR 1.00 X 0 0 0 JESSICA MCGARRY 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 STEPHAN M RODOLAKIS 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 DAVID SUPRENANT DIRECTOR 1.00 X 0 0 0 ROBERTA L BRIEN VP OF PROJEC 20.00 20.00 X 230071 0 59404 KATHLEEN KELLEHER CPA MST CFO 20.00 20.00 X 156453 0 45278 750008 174742 4 false true false 98759 98759 PROFESSIONAL SERVICE FEES 541610 908805 908805 SBA REVENUE 522298 331753 331753 BIOMANUFACTURING SUMMIT 999999 96079 96079 ANNUAL MEETING 999999 77826 77826 1414463 242827 159607 83220 115813 115813 115813 115813 3397 -3397 -3397 -3397 OTHER INCOME 690 690 690 1869155 1570673 199723 15000 15000 270122 217409 52713 380429 303032 77397 141127 112901 28226 10658 8527 2131 45085 36068 9017 3694 3140 554 23478 19956 3522 78000 78000 20985 17837 3148 7093 6029 1064 17408 17408 79252 79252 18639 18639 164168 131334 32834 22736 17052 5684 93591 91574 2017 22452 18653 3799 9804 4902 4902 SBA LOAN SERVICE FEES 224088 224088 COMMUNITY SPONSORSHIPS 50000 50000 MISCELLANEOUS 2034 2034 1699843 1453393 246450 0 173238 303856 444327 404593 56596 43011 9030799 9763286 2721 3191 782782 375757 419301 407025 299559 361059 6622133 5270288 1317437 686586 18366111 17242895 173313 163250 88793 905702 885115 1167808 1048365 X 17198303 16194530 17198303 16194530 18366111 17242895 169312 -1173085 X false true X true false 6622133 -1111095 240750 5270288 5701497 920636 6622133 5857347 458319 614169 5701497 4931299 1208489 282441 5857347 5469741 -283324 255118 4931299 1.00000 false false 630223 243652 386571 152559 132105 20454 407025 COMMONFUND 5270288 F 5270288 OFFICE LEASE LIABILITY 519998 457 PLAN LIABILITY 361059 DUE TO AFFILIATES 4058 885115 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, 2022. 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 FDN 900 CUMMINGST CENTER STE 226-U BEVERLY MA 01915 811645767 501C3 15000 CASH HOCKEY SCHOLARSHIP 1 X X false false false false false false false false false CRAIG L BLAIS PRESIDENT & CEO 363484 54972 15088 433544 ROBERTA L BRIEN VP OF PROJECTS 230071 48797 10607 289475 KATHLEEN KELLEHER CPA MST CFO 156453 44292 986 201731 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 false true true true 20 FRANKLIN QALICB CORPORATION L 387995 MANAGEMENT FEE 20 FRANKLIN QALICB CORPORATION Q 1560 REIMBURSED COSTS NEW GARDEN PARK INC L 100000 MANAGEMENT FEE NEW GARDEN PARK INC N 159607 INTERCO LOAN INT ACCRUAL NEW GARDEN PARK INC D 8980424 LOAN AGREEMENT NEW GARDEN PARK INC D 782862 ACCRUED LOAN INTEREST NEW GARDEN PARK INC A 159607 LOAN INTEREST NEW GARDEN PARK INC D 176576 COSTS INCURRED/SERVICE AG NEW GARDEN PARK INC O 856596 PAYROLL, TAXES, BENEFITS