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EIN 04-2381829

Worcester Business Development Corporation

IRS 501(c) type
501(c)(4)
Num. employees
11
City
Worcester
State
Massachusetts
Year formed
1965
Most recent tax filings
2023-12-01
NTEE code, primary
S31: Urban, Community Economic Development
Description
Worcester Business Development Corporation serves 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. As a private non-profit business organization with a public purpose mission, WBDC promotes business development in the greater Worcester region by acquiring land for development to benefit the community including redevelopment of brownfield sites. Its programs include providing assistance to small businesses through the federal 504 loan program.
Total revenues
$1,753,233
2023
Total expenses
$1,799,293
2023
Total assets
$17,978,831
2023
Num. employees
11
2023

Program areas at Worcester Business Development Corporation

Provide assistance to small businesses through the federal 504 loan program.
Promotion of Business Development in the greater Worcester region. Wbdc also acquires land for Development to benefit the community including redevelopment of brownfield sites.

Personnel at Worcester Business Development Corporation

NameTitleCompensation
Craig L. BlaisPresident and Chief Executive Officer$363,484
Kathleen A. KelleherChief Financial Officer
Bridget L. Carney-JagneExecutive Director of Sba and Finance
Samantha I. PenzoneDirector of Marketing and Property Management
Julie A. HolstromDirector of Projects
...and 16 more key personnel

Financials for Worcester Business Development Corporation

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$1,273,613
Investment income and dividends$350,556
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$129,058
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$6
Total revenues$1,753,233

Form 990s for Worcester Business Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-09-25990View PDF
2022-122023-10-16990View PDF
2021-122022-09-22990View PDF
2020-122021-09-03990OView PDF
2019-122020-08-26990View PDF
...and 10 more Form 990s
Data update history
September 25, 2024
Updated personnel
Identified 13 new personnel
November 29, 2023
Posted financials
Added Form 990 for fiscal year 2022
November 28, 2023
Updated personnel
Identified 6 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
May 18, 2023
Updated personnel
Identified 2 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizations
Issues
Community improvementEconomic development
Characteristics
State / local levelEndowed supportManagement and technical assistance
General information
Address
89 Shrewsbury St
Worcester, MA 01604
Metro area
Worcester, MA-CT
County
Worcester County, MA
Website URL
thewbdc.com/ 
Phone
(508) 755-7883
IRS details
EIN
04-2381829
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1965
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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