Overview
What is Wentworth Economic Development Corporation Inc?
Wentworth Economic Development Corporation Inc, based in PO Box 641, Wolfeboro, New Hampshire, is a 501(c)3 nonprofit organization dedicated to fostering economic growth in the Eastern Lakes Region of New Hampshire. This region encompasses Southern Carroll and Northern Strafford counties. Serving as a financial resource for small businesses that may not meet the criteria of larger financial institutions, WEDCO focuses on evaluating applicants based on their character, capacity to repay loans, and the clarity of their business plans. The organization aims to ensure the sustainability of its funding sources while working with financially underserved entities. Currently, WEDCO has 20 active loans in its service area and has invested over one million dollars into the local communities. Its mission is to promote economic development in the Eastern Lakes Region, with a goal of bolstering the region's overall financial wellbeing.
Official website here: www.wedco-nh.org
What do the Facebook reviews say about Wentworth Economic Development Corporation Inc?
92% of 8 reviewers on Facebook recommend Wentworth Economic Development Corporation Inc. Here is a summary of their reviews:
The organization seems to effectively support local businesses by providing essential resources, strategic contacts, and financing opportunities. Many users appreciate how WEDCO actively connects business owners with relevant information that can help them thrive.
Overall, the sentiment towards Wentworth Economic Development Corporation is positive, indicating a strong level of satisfaction among those who have utilized their services. The nonprofit is viewed as a valuable resource for those looking to enhance their business ventures.
This AI summary has been generated from reviews found on Facebook.
Is Wentworth Economic Development Corporation Inc legitimate?
Wentworth Economic Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wentworth Economic Development Corporation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $52,705
Professional Fundraising Fees: $0
Other Salaries and Wages: $24,730
For more financial information, click here
Official website here: www.wedco-nh.org
What is the mission statement of Wentworth Economic Development Corporation Inc?
The Wentworth Economic Development Corporation Inc was established with the sole purpose of fostering economic growth in a specific region. Acting as a 501(C)3 organization, its mission is to offer advisory, financial, and promotional services to small businesses within this region. The corporation extends financing to businesses that may not meet the criteria of larger financial institutions, considering factors such as character, capability to repay loans, and clarity of business plans. By ensuring the sustainability of its funding sources, Wentworth Economic Development Corporation Inc aims to positively impact its communities, currently managing 20 active loans and investing over one million dollars in these areas.
Official website here: www.wedco-nh.org
Who is the CEO of Wentworth Economic Development Corporation Inc?
Megan Ryder is the Former Executive Director of Wentworth Economic Development Corporation Inc.
Official website here: www.wedco-nh.org
What is the revenue of Wentworth Economic Development Corporation Inc?
Wentworth Economic Development Corporation Inc's revenue in 2022 was $255,575.
Official website here: www.wedco-nh.org
Who are the executives of Wentworth Economic Development Corporation Inc and what are their salaries?
The average compensation at Wentworth Economic Development Corporation Inc during 2022 was $25,812. There are 3 employees and 13 volunteers at Wentworth Economic Development Corporation Inc.
Here are 14 key members and their salaries:
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Official website here: www.wedco-nh.org
Where can I find the form 990 for Wentworth Economic Development Corporation Inc?
Wentworth Economic Development Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wedco-nh.org
Learn more at the official website: www.wedco-nh.org
Mission Statement of Wentworth Economic Development Corporation Inc
Wentworth Economic Development Corporation Inc, a 501(C)3 organization, was established with a sole purpose: to stimulate economic growth in the Eastern Lakes Region. This nonprofit corporation's mission is to provide advice, finance, and promote the small business economy in this specific region. Recognizing the financial limitations of some businesses, Wentworth Economic Development Corporation Inc focuses on character, the capacity to repay loans, and the clarity of business plans. By doing so, the corporation aims to ensure the sustainability of its funding sources while catering to the often financially underserved. Currently, the organization has 20 active loans in its service area and has invested over one million dollars in the communities it serves.
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Impact
October, 2024
Wentworth Economic Development Corporation Inc (WEDCO) drives significant economic growth in the Eastern Lakes Region of New Hampshire by focusing on the development of small businesses. Operating in southern Carroll and northern Strafford counties, WEDCO provides vital financial support to entrepreneurs and enterprises that may struggle to secure funding from larger financial institutions.
By prioritizing factors such as character, repayment capacity, and clear business plans, WEDCO effectively tailors its financing options to the unique needs of financially underserved individuals and businesses. This targeted approach not only helps to sustain its funding sources but also fosters a vibrant local economy.
Currently managing 20 active loans and with over one million dollars invested in its communities, WEDCO plays a crucial role in supporting and nurturing small businesses, which are the backbone of economic stability and growth. Through its efforts, WEDCO contributes to community improvement, ensuring job creation and revitalization within the region.
This information is meant to be a general summary of Wentworth Economic Development Corporation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $312
- Program Service Revenue: $96,871
- Gross Receipts: $255,575
Assets and Liabilities:
- Total Assets: $1,587,028
- Total Liabilities: $440,846
- Net Assets: $1,146,182
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
IRP INCOME
Revenue
$26,726
PROGRAM INCOME: LOAN I
Revenue
$26,312
PROGRAM INCOME: ADMIN
Revenue
$23,806
RMAP INCOME
Revenue
$20,027
Organization Details
Founding Year
1993
Phone
(603) 569-4216Principal Officer
Megan Ryder
Main Address
PO BOX 641, WOLFEBORO, NH, 03894
Website
www.wedco-nh.orgNTEE Category
Code: S30Z - Community improvement
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