Overview
What is Worcester Business Development Corp?
Worcester Business Development Corp, located at 89 Shrewsbury Street, Worcester, MA 01604, is a nonprofit organization with a public purpose mission. Its primary role is to serve as an innovation and leading force in the economic development of the city of Worcester and the surrounding region. This involves creating jobs and expanding the tax base. The organization provides assistance to small businesses through the Federal 504 Loan Program. With a team of 13 dedicated professionals, Worcester Business Development Corp plays a crucial role in promoting economic growth and development in the area, contributing to its overall prosperity.
Official website here: www.thewbdc.com
Is Worcester Business Development Corp legitimate?
Worcester Business Development Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Worcester Business Development Corp 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: $270,122
Professional Fundraising Fees: $0
Other Salaries and Wages: $380,429
For more financial information, click here
Official website here: www.thewbdc.com
What is the mission statement of Worcester Business Development Corp?
The Worcester Business Development Corp, a private, non-profit organization, serves as an innovative and leading force in economic development, focusing on the City of Worcester and its surrounding region. Its mission is to drive job creation and expand the tax base. To achieve this objective, the corporation provides assistance to small businesses, leveraging the Federal 504 Loan Program. In essence, the Worcester Business Development Corp aims to stimulate economic growth and development, fostering a thriving business environment.
Official website here: www.thewbdc.com
Who is the CEO of Worcester Business Development Corp?
Craig L Blais is the President & of Worcester Business Development Corp.
Official website here: www.thewbdc.com
What is the revenue of Worcester Business Development Corp?
Worcester Business Development Corp's revenue in 2022 was $1,869,155.
Official website here: www.thewbdc.com
Who are the executives of Worcester Business Development Corp and what are their salaries?
The average compensation at Worcester Business Development Corp during 2022 was $50,042. There are 13 employees at Worcester Business Development Corp.
Here are 26 key members and their salaries:
- Compensation: $363,484
- Related: $0
- Other: $70,060
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $230,071
- Related: $0
- Other: $59,404
- Compensation: $156,453
- Related: $0
- Other: $45,278
Official website here: www.thewbdc.com
Where can I find the form 990 for Worcester Business Development Corp?
Worcester Business Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thewbdc.com
Learn more at the official website: www.thewbdc.com
Mission Statement of Worcester Business Development Corp
Worcester Business Development Corp, a private, non-profit organization, serves as a driving force in the economic development of its region, with a focus on the city of Worcester. This organization's mission is to innovate and lead, ultimately leading to job creation and an expansion of the tax base. By operating in this capacity, Worcester Business Development Corp plays a significant role in fostering economic growth and development within its sphere of influence.
In fulfilling its mission, Worcester Business Development Corp provides assistance to small businesses through the Federal 504 Loan Program. This program is designed to help these businesses secure financing, which can be a significant barrier to growth and expansion. By providing this service, Worcester Business Development Corp is contributing to the creation of new jobs and the expansion of existing businesses, thereby boosting the local economy.
In summary, Worcester Business Development Corp is a key player in the economic development of its region. With a mission to innovate and lead, it provides crucial assistance to small businesses through the Federal 504 Loan Program, ultimately contributing to job creation and tax base expansion.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Worcester Business Development Corp (WBDC) plays a pivotal role in driving economic development in the city of Worcester and its surrounding region. By focusing on innovation and strategic initiatives, WBDC fosters an environment conducive to job creation and the expansion of the local tax base.
A key aspect of their impact is assisting small businesses through programs such as the Federal 504 Loan Program. This support is crucial for entrepreneurs looking to secure financing for real estate and equipment, enabling them to grow and thrive. Through these efforts, WBDC not only enhances the local economy but also contributes to community improvement by creating jobs and increasing resources available for public services.
Overall, WBDC serves as a leading force in promoting sustainable economic growth, which benefits the community and its residents.
This information is meant to be a general summary of Worcester Business Development Corp. 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: $239,430
- Program Service Revenue: $1,414,463
- Gross Receipts: $1,872,552
Assets and Liabilities:
- Total Assets: $17,242,895
- Total Liabilities: $1,048,365
- Net Assets: $16,194,530
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROFESSIONAL SERVICE FEES
Revenue
$908,805
SBA REVENUE
Revenue
$331,753
BIOMANUFACTURING SUMMIT
Revenue
$96,079
ANNUAL MEETING
Revenue
$77,826
Organization Details
Founding Year
1965
Phone
(508) 755-7883Principal Officer
Craig L Blais
Main Address
89 SHREWSBURY STREET, WORCESTER, MA, 01604
Website
www.thewbdc.comNTEE Category
Code: S31 - Community improvement
If you are a representative of Worcester Business Development Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.