Nonprofit · EIN 51-0240524
WILMINGTON ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · WILMINGTON, DE 19801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $166,905 | $99,224 | $67,681 | $2,292,777 | $227,953 | $2,064,824 |
| June 30, 2024 | 990 | $885,381 | $362,634 | $522,747 | $2,332,749 | $377,000 | $1,955,749 |
| June 30, 2023 | 990 | $1,318,756 | $143,397 | $1,175,359 | $2,899,392 | $1,466,389 | $1,433,003 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $121,583
- of which government grants
- $121,583
- Program service revenue
- $36,338
- Investment income
- $8,984
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $29,212
- Other salaries and wages
- $18,094
- Salaries, compensation and benefits (total)
- $51,709
- Professional fundraising fees
- $0
- Occupancy
- $7,217
- Travel
- $1,879
- Depreciation
- $918
- Program services (functional)
- $89,171
- Management and general (functional)
- $10,053
Balance sheet and other
- Total assets, start of year
- $2,332,749
- Total assets, end of year
- $2,292,777
- Total liabilities, end of year
- $227,953
- Net assets, end of year
- $2,064,824
- Land, buildings and equipment
- $8,205
- Net assets without donor restrictions
- $1,579,770
- Net assets with donor restrictions
- $485,054
- Gross receipts
- $166,905
- Employees
- 0
- Volunteers
- 13
- Year formed
- 1979
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| TERRI DUKE | EXECUTIVE DIRECTOR Officer | 10 | $0 | $29,212 |
| SEAN PARK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| HEATH KAHRS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT DUKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JEFF FLYNN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GABRIEL PABON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TONY ROUSTOPOULOS | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| ANTHONY J RYAN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| JAMES BRETT TAYLOR | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL TURICK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KELLY WILLIAMS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ROSE TASSONE-DINARDO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| STEPHANIE MERGLER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ROBERT GRECO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 11 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| DAVID DANIELS | EXECUTIVE DIRECTOR Officer | 10 | $0 | $31,527 |
| STANLEY F SOJA JR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| HEATH KAHRS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT DUKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JEFF FLYNN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICIA PONZO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TONY ROUSTOPOULOS | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| ANTHONY J RYAN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| JAMES BRETT TAYLOR | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL TURICK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TANYA WASHINGTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| DAVID DANIELS | EXECUTIVE DIRECTOR Officer | 10 | $0 | $42,911 |
| STANLEY F SOJA JR | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| JOSEPH V WILLIAMS JR | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| HEATH KAHRS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT DUKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JEFF FLYNN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WILLIE F HENRY JR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICIA PONZO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TONY ROUSTOPOULOS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ANTHONY J RYAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BRETT TAYLOR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MICHAEL TURICK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TANYA WASHINGTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 100 W 10TH ST STE 214, WILMINGTON, DE 19801-1641
- Principal officer (990 for 2024)
- TERRI DUKE, 100 WEST 10TH STREET SUITE 214, WILMINGTON, DE 19801
- Signed the 990
- TERRI DUKE, INTERIM EXECUTIVE DIRECTOR
- Phone
- (302) 571-9142
- Website
- WWW.WEDCO.ORG
- Return prepared by
- BARBACANE THORNTON & COMPANY LLP
Mission
TO RENDER FINANCIAL ASSISTANCE FOR START UP, OR EXPANDING BUSINESSES LOCATED WITHIN THE CITY OF WILMINGTON
Program accomplishments
- ECONOMIC DEVELOPMENT ADMINISTRATION - PROVIDES LOANS AND/OR GRANTS TO BUSINESSES IN THE WILMINGTON AREA USING FEDERAL GRANTS.Expenses $60,506 · revenue $18,169
- WILMINGTON PARTNERSHIP - PROVIDES LOANS TO STARTUP OR EXPANDING BUSINESSES WITHIN THE CITY OF WILMINGTON.Expenses $28,665 · revenue $18,169
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 51-0240524
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1980
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30Z)
- Assets (IRS master file)
- $2,292,777
- Income (IRS master file)
- $166,905
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $166,905 | $99,224 | $2,292,777 | IRS |
| 990 | June 2024 | $885,381 | $362,634 | $2,332,749 | IRS |
| 990 | June 2023 | $1,318,756 | $143,397 | $2,899,392 | XML |
| 990 | June 2022 | $336,072 | $126,733 | $2,846,208 | IRS |
| 990 | June 2021 | $118,607 | $104,605 | $668,789 | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 51-0240524).
Questions about WILMINGTON ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of WILMINGTON ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of WILMINGTON ECONOMIC DEVELOPMENT CORPORATION is 51-0240524.
- Is WILMINGTON ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1980.
- Are donations to WILMINGTON ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WILMINGTON ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WILMINGTON ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WILMINGTON ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of WILMINGTON ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names TERRI DUKE.
- Who are the officers and directors of WILMINGTON ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 14 people; 0 received compensation from the organization.
- How much revenue does WILMINGTON ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $166,905, expenses of $99,224 and total assets of $2,292,777 at year end.
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All nonprofits in WILMINGTON · Delaware · Community improvement and capacity building