2024-11-13T11:34:40-06:00 2023-12-31 454051133 FREED MAXICK CPAS PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2023-01-01 204230463 WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC WEST 7163934088 436 GRANT STREET BUFFALO NY 14213 CAROLYNN WELCH EXECUTIVE DIRECTOR 7163934088 2024-11-13 1 0 MARY MADONIA P00405803 7168472651 2024-11-13 2023 2024-10-15 13:58:12Z CAROLYNN WELCH 436 GRANT STREET BUFFALO NY 14213 6944027 0 X WWW.WEDIBUFFALO.ORG X 2006 NY FOR ALL RESIDENTS OF WNY TO SUCCEED AND THRIVE IN A CULTURALLY INCLUSIVE COMMUNITY. 16 16 58 60 0 0 2979811 6714496 172878 186939 -21906 24756 116384 -7485 3247167 6918706 21640 1763 0 0 1595286 1375970 0 0 276698 678805 1095804 2295731 2473537 951436 4445169 10403298 12601013 4794416 2551962 5608882 10049051 WEDI STRENGTHENS COMMUNITIES THROUGH A CONTINUUM OF EDUCATIONAL AND FINANCIAL RESOURCES, REMOVING SYSTEMIC BARRIERS TO ECONOMIC EQUITY FOR ALL WESTERN NEW YORKERS. 0 0 796189 1763 161326 COMMUNITY DEVELOPMENT - WEST SIDE BAZAAR AND DOWNTOWN BAZAAR SMALL BUSINESS INCUBATOR LOCATED IN AN ETHNICALLY DIVERSE NEIGHBORHOOD IN A COMMERCIAL DISTRICT IN BUFFALO, NEW YORK. WESTMINISTER ECONOMIC DEVELOPMENT INITIATIVE (WEDI) IS DEDICATED TO OFFERING MERCHANTS A SAFE, NURTURING, AND AFFORDABLE ENVIRONMENT TO GROW THEIR "GRASSROOTS" BUSINESSES. WEDI IS COMMITTED TO OFFERING CLIENTS BUSINESS COACHING, FINANCIAL MENTORING, LOW INTEREST LOANS, NETWORKING/MARKETING OPPORTUNITIES, AND STEADY CUSTOMER TRAFFIC. 708623 25613 ECONOMIC DEVELOPMENT - PROVIDED A COMPREHENSIVE MODEL FOR GENERATING WEALTH FOR MOTIVATED INDIVIDUALS THROUGH THE CREATION OR EXPANSION OF A SMALL BUSINESS. WEDI'S PROGRAM IS UNIQUE IN ITS ABILITY TO PROVIDE A BROAD RANGE OF SERVICES, UTILIZING EXISTING COMMUNITY RESOURCES WHEN AVAILABLE, AND MOLD THE PROCESS TO EACH INDIVIDUAL. THIS IS DONE THROUGH MENTORS, WHO WORK WITH CLIENTS INDIVIDUALLY AND THROUGH PARTNERSHIPS WITH LOCAL ORGANIZATIONS. WEDI CAN PROVIDE A RANGE OF SERVICE FROM BASIC FINANCIAL LITERACY TO SPECIALIZED TRAINING AND TECHNICAL ASSISTANCE. WEDI OFFERS A MICRO LOAN PROGRAM THAT OFFERS SMALL, TARGETED LOANS FOR BUSINESS CREATION OR EXPANSION IN WEDI'S TARGET AREA THAT CAN DIRECTLY RESULT IN INCREASED INCOME AND WEALTH GENERATION. 326022 EDUCATION, NURTURE, ENCOURAGEMENT, READINESS, AND GROWTH FOR YOUTH (ENERGY), LAUNCH, AND FOCUSED LEARNING FOR YOUTH (FLY) - THE FOCUS OF THESE PROGRAMS IS TO HELP ENGLISH LANGUAGE LEARNERS (ELLS) SPECIFICIALLY STUDENTS WITH INTERRUPTED FORMAL EDUCATION (SIFE) TO IMPROVE MORE QUICKLY, ACADEMICALLY, AND SOCIALLY THAN THEY WOULD WITHOUT ENERGY, LAUNCH, OR FLY'S INPUT OUTSIDE OF SCHOOL. CHILDREN RECEIVE HOMEWORK AND ACADEMIC SUPPORT, ENJOY A SHARED FAMILY STYLE MEAL AND GAIN ACCESS TO INDIVIDUAL ADULT MENTORS AND TUTORS. 1830834 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 24 0 1 58 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X THE ORGANIZATION 7163934088 436 GRANT STREET BUFFALO NY 14213 STEPHEN ZENGER BOARD MEMBER/PRESIDENT 10.00 X X 0 0 0 KRISTA SCHWARTZOTT BOARD MEMBER/VICE PRESIDENT 10.00 X X 0 0 0 CONCETTA FERGUSON BOARD MEMBER 2.00 X 0 0 0 MELANIE JASKOLKA BOARD MEMBER/SECRETARY 2.00 X X 0 0 0 LUKE DONIGAN BOARD MEMBER/ASSIST SECRETARY 2.00 X X 0 0 0 JOANN BELLIOTTI BOARD MEMBER 2.00 X 0 0 0 INDIA DEWAN BOARD MEMBER 2.00 X 0 0 0 ZELALEM GEMMEDA BOARD MEMBER 2.00 X 0 0 0 DONNA GENESKY BOARD MEMBER 2.00 X 0 0 0 MICHAEL KENLINE BOARD MEMBER 2.00 X 0 0 0 GUSTAVO LIMA BOARD MEMBER 2.00 X 0 0 0 CATHERINE MARCH BOARD MEMBER 2.00 X 0 0 0 BETSY MITCHELL BOARD MEMBER 2.00 X 0 0 0 KATIE O'CONNOR BOARD MEMBER 2.00 X 0 0 0 LOUISE SANO BOARD MEMBER 2.00 X 0 0 0 MIMI STEADMAN BOARD MEMBER 2.00 X 0 0 0 MELISSA WOODS BOARD MEMBER (TO 6/30/23) 2.00 X 0 0 0 CAROLYNN WELCH EXECUTIVE DIRECTOR 40.00 X 83045 0 13105 83045 0 13105 0 0 0 0 0 86578 3504676 3123242 6714496 COMMUNITY DEVELOPMENT 900099 105928 105928 RENTAL INCOME 900099 55398 55398 ECONOMIC DEVELOPMENT 900099 25613 25613 186939 24756 24756 11561 86578 25321 -13760 -13760 MISCELANEOUS 900099 6275 6275 6275 6918706 186939 0 17271 X 1763 1763 83045 57472 12681 12892 1109999 768187 169500 172312 43963 29581 7132 7250 74259 49967 12046 12246 64704 45500 9523 9681 10825 5732 4332 761 37825 20030 15137 2658 249317 132027 99769 17521 4197 3397 800 95128 60333 16700 18095 7509 5053 1218 1238 72798 70351 1895 552 55935 53697 1025 1213 200500 200500 16309 13047 1631 1631 55239 37168 8961 9110 FOOD 109133 109133 BAD DEBT EXPENSE 75187 75187 REPAIRS AND MAINTENANCE 65330 58798 6532 SUPPLIES 30550 26558 2920 1072 10022 7353 1535 1134 2473537 1830834 366005 276698 2136997 933710 1293857 3221126 114240 4310 197323 302684 15296 11876 106979 54554 52414 52425 6593171 8074882 10403298 12601013 403915 131250 55138 30876 3382523 2313193 952840 76643 4794416 2551962 X 548391 9356101 5060491 692950 5608882 10049051 10403298 12601013 4445169 -5000 0 X X 0 1 X 1 0 X 1476014 1994526 4714674 2979811 6714496 17879521 1476014 1994526 4714674 2979811 6714496 17879521 1596228 16283293 24756 24756 64725 1676 331 3749 6275 76756 17981033 992218 0.90560 0.80730 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 64,725. 2020 AMOUNT: $ 1,676. 2021 AMOUNT: $ 331. 2022 AMOUNT: $ 3,749. 2023 AMOUNT: $ 6,275. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46100 34575 11525 43171 19979 23192 17708 17708 52425 ADVANCE OF LEVERAGE LOAN 1312048 SPONCOR LOAN 1561947 INVESTMENT IN WSB BUFFALO MM, LLC 4737381 DUE FROM RELATED PARTIES 87502 OTHER ASSETS 376004 8074882 REFUNDABLE ADVANCES 66667 DEPOSITS 9976 76643 WEDIFEST 98139 86578 11561 2730 5465 900 16226 98139 86578 11561 2730 5465 900 16226 25321 -13760 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT OF THE FORM 990 IS PROVIDED TO ALL VOTING MEMBERS OF THE GOVERNING BODY (BOARD OF DIRECTORS) BEFORE FILING. THE FINANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURES ARE SIGNED ANNUALLY BY ALL DIRECTORS AS WELL AS NEW MEMBERS JOINING THE BOARD DURING INTERIM PERIODS. THIS PROCEDURE IS A REGULAR AGENDA ITEM AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS COMPARED TO OTHER LOCAL ORGANIZATIONS, SCALED FOR APPROPRIATE SIZE, AND ADJUSTED ACCORDING TO PERFORMANCE REVIEWS. ALL OTHER EMPLOYEE SALARIES ARE AT THE DISCRETION OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 AND FORM 1023 ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE FOR INSPECTION AT THE ADMINISTRATIVE OFFICES. COPIES CAN BE OBTAINED AT THE REQUESTING PARTY'S EXPENSE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 132,027. MANAGEMENT AND GENERAL EXPENSES 99,769. FUNDRAISING EXPENSES 17,521. TOTAL EXPENSES 249,317. FORM 990, PART XII, LINE 2C THERE WAS NO CHANGE FROM THE PRIOR YEAR IN THE AUDIT OVERSIGHT PROCESS OR THE INDEPENDENT ACCOUNTANT SELECTION PROCESS. WEST SIDE BAZAAR INC (WSBI) 436 GRANT STREET BUFFALO NY 14213 871265522 RESIDENTIAL SERVICES NY 501(C)(3) LINE 10 WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC 1 1432 NIAGARA BUFFALO LLC 436 GRANT STREET BUFFALO NY 14213 874625708 RESIDENTIAL REAL ESTATE NY WSB BUFFALO MM LLC RELATED 8423442 0 1 0.01000 WSB BUFFALO MM LLC (WSB BUFFALO) 436 GRANT STREET BUFFALO NY 14213 874723775 RESIDENTIAL REAL ESTATE NY WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC C 4482572 0.95000 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0