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Employer Identification Number 04-2381829

WORCESTER BUSINESS DEVELOPMENT CORP is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:WORCESTER BUSINESS DEVELOPMENT CORP
Employer identification number (EIN):04-2381829
EIN Issuing AuthorityBrookhaven, NY
NAIC Classification:523900
401k Pension/Benefits registration WORCESTER BUSINESS DEVELOPMENT CORP 401k plan information
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementTO SERVE 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.
Number of Employees11
Number of Volunteers0
Year Formed1965

Organization Governance

Legal DomicileMA
Voting Members - Governing Body24
Voting Members - Independent23

Organization Financials

2024-12-31
Total unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,273,613
Program Service Revenue from current yearUSD $ 1,470,731
Investment Income from prior yearUSD $ 350,556
Investment Income from current yearUSD $ 387,654
Other Revenue from prior yearUSD $ 129,064
Other Revenue from current yearUSD $ 121,289
Gross receipts from all sourcesUSD $ 1,979,674
Net assets / fund balances at end of fiscal yearUSD $ 17,968,331
Net assets / fund balances at beginning of fiscal yearUSD $ 16,988,906
Total liabilities at end of fiscal yearUSD $ 966,864
Total liabilities at beginning of fiscal yearUSD $ 989,925
Total assets at end of fiscal yearUSD $ 18,935,195
Total assets at beginning of fiscal yearUSD $ 17,978,831
Revenues less expenses for current yearUSD $ 281,766
Revenues less expenses for previous yearUSD $ -46,060
Total expenses for current yearUSD $ 1,697,908
Total expenses for previous yearUSD $ 1,799,293
Other expenses in current yearUSD $ 719,587
Other expenses in previous yearUSD $ 813,964
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 952,121
Employee salary and benefits paid in previous yearUSD $ 972,829
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 26,200
Grants and similar amounts paid in previous yearUSD $ 12,500
Total revenue in current fiscal yearUSD $ 1,979,674
Total revenue in previous fiscal yearUSD $ 1,753,233
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 1,500
2023-12-31
Total unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,414,463
Program Service Revenue from current yearUSD $ 1,273,613
Investment Income from prior yearUSD $ 239,430
Investment Income from current yearUSD $ 350,556
Other Revenue from prior yearUSD $ 116,503
Other Revenue from current yearUSD $ 129,064
Gross receipts from all sourcesUSD $ 1,753,233
Net assets / fund balances at end of fiscal yearUSD $ 16,988,906
Net assets / fund balances at beginning of fiscal yearUSD $ 16,194,530
Total liabilities at end of fiscal yearUSD $ 989,925
Total liabilities at beginning of fiscal yearUSD $ 1,048,365
Total assets at end of fiscal yearUSD $ 17,978,831
Total assets at beginning of fiscal yearUSD $ 17,242,895
Revenues less expenses for current yearUSD $ -46,060
Revenues less expenses for previous yearUSD $ 169,312
Total expenses for current yearUSD $ 1,799,293
Total expenses for previous yearUSD $ 1,699,843
Other expenses in current yearUSD $ 813,964
Other expenses in previous yearUSD $ 837,422
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 972,829
Employee salary and benefits paid in previous yearUSD $ 847,421
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 12,500
Grants and similar amounts paid in previous yearUSD $ 15,000
Total revenue in current fiscal yearUSD $ 1,753,233
Total revenue in previous fiscal yearUSD $ 1,869,155
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 98,759
Total of other revenueUSD $ 6
2022-12-31
Total unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,158,993
Program Service Revenue from current yearUSD $ 1,414,463
Investment Income from prior yearUSD $ 419,749
Investment Income from current yearUSD $ 239,430
Other Revenue from prior yearUSD $ 172,367
Other Revenue from current yearUSD $ 116,503
Gross receipts from all sourcesUSD $ 1,872,552
Net assets / fund balances at end of fiscal yearUSD $ 16,194,530
Net assets / fund balances at beginning of fiscal yearUSD $ 17,198,303
Total liabilities at end of fiscal yearUSD $ 1,048,365
Total liabilities at beginning of fiscal yearUSD $ 1,167,808
Total assets at end of fiscal yearUSD $ 17,242,895
Total assets at beginning of fiscal yearUSD $ 18,366,111
Revenues less expenses for current yearUSD $ 169,312
Revenues less expenses for previous yearUSD $ -945,319
Total expenses for current yearUSD $ 1,699,843
Total expenses for previous yearUSD $ 2,914,958
Other expenses in current yearUSD $ 837,422
Other expenses in previous yearUSD $ 1,836,667
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 847,421
Employee salary and benefits paid in previous yearUSD $ 1,011,291
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 15,000
Grants and similar amounts paid in previous yearUSD $ 67,000
Total revenue in current fiscal yearUSD $ 1,869,155
Total revenue in previous fiscal yearUSD $ 1,969,639
Contributions and grants from current yearUSD $ 98,759
Contributions and grants from previous yearUSD $ 218,530
Total of other revenueUSD $ 690
2021-12-31
Total unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 805,009
Program Service Revenue from current yearUSD $ 1,158,993
Investment Income from prior yearUSD $ 256,490
Investment Income from current yearUSD $ 419,749
Other Revenue from prior yearUSD $ 91,182
Other Revenue from current yearUSD $ 172,367
Gross receipts from all sourcesUSD $ 2,220,894
Net assets / fund balances at end of fiscal yearUSD $ 17,198,303
Net assets / fund balances at beginning of fiscal yearUSD $ 17,273,649
Total liabilities at end of fiscal yearUSD $ 1,167,808
Total liabilities at beginning of fiscal yearUSD $ 633,610
Total assets at end of fiscal yearUSD $ 18,366,111
Total assets at beginning of fiscal yearUSD $ 17,907,259
Revenues less expenses for current yearUSD $ -945,319
Revenues less expenses for previous yearUSD $ -953,147
Total expenses for current yearUSD $ 2,914,958
Total expenses for previous yearUSD $ 2,105,828
Other expenses in current yearUSD $ 1,836,667
Other expenses in previous yearUSD $ 830,555
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,011,291
Employee salary and benefits paid in previous yearUSD $ 1,200,273
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 67,000
Grants and similar amounts paid in previous yearUSD $ 75,000
Total revenue in current fiscal yearUSD $ 1,969,639
Total revenue in previous fiscal yearUSD $ 1,152,681
Contributions and grants from current yearUSD $ 218,530
Total of other revenueUSD $ 53,600
2020-12-31
Total unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 867,127
Program Service Revenue from current yearUSD $ 805,009
Investment Income from prior yearUSD $ 237,037
Investment Income from current yearUSD $ 256,490
Other Revenue from prior yearUSD $ 59,358
Other Revenue from current yearUSD $ 91,182
Gross receipts from all sourcesUSD $ 1,152,681
Net assets / fund balances at end of fiscal yearUSD $ 17,273,649
Net assets / fund balances at beginning of fiscal yearUSD $ 17,842,883
Total liabilities at end of fiscal yearUSD $ 633,610
Total liabilities at beginning of fiscal yearUSD $ 444,049
Total assets at end of fiscal yearUSD $ 17,907,259
Total assets at beginning of fiscal yearUSD $ 18,286,932
Revenues less expenses for current yearUSD $ -953,147
Revenues less expenses for previous yearUSD $ -462,732
Total expenses for current yearUSD $ 2,105,828
Total expenses for previous yearUSD $ 1,700,434
Other expenses in current yearUSD $ 830,555
Other expenses in previous yearUSD $ 605,017
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,200,273
Employee salary and benefits paid in previous yearUSD $ 1,095,417
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 75,000
Total revenue in current fiscal yearUSD $ 1,152,681
Total revenue in previous fiscal yearUSD $ 1,237,702
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 74,180
Total of other revenueUSD $ 500
2019-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,137,140
Program Service Revenue from current yearUSD $ 867,127
Investment Income from prior yearUSD $ 881,225
Investment Income from current yearUSD $ 237,037
Other Revenue from prior yearUSD $ 61,757
Other Revenue from current yearUSD $ 59,358
Gross receipts from all sourcesUSD $ 1,281,357
Net assets / fund balances at end of fiscal yearUSD $ 17,842,883
Net assets / fund balances at beginning of fiscal yearUSD $ 17,150,180
Total liabilities at end of fiscal yearUSD $ 444,049
Total liabilities at beginning of fiscal yearUSD $ 674,796
Total assets at end of fiscal yearUSD $ 18,286,932
Total assets at beginning of fiscal yearUSD $ 17,824,976
Revenues less expenses for current yearUSD $ -462,732
Revenues less expenses for previous yearUSD $ 509,072
Total expenses for current yearUSD $ 1,700,434
Total expenses for previous yearUSD $ 1,638,800
Other expenses in current yearUSD $ 605,017
Other expenses in previous yearUSD $ 568,599
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,095,417
Employee salary and benefits paid in previous yearUSD $ 1,070,201
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,237,702
Total revenue in previous fiscal yearUSD $ 2,147,872
Contributions and grants from current yearUSD $ 74,180
Contributions and grants from previous yearUSD $ 67,750
Gross income from fundraising eventsUSD $ 3,900
Total of other revenueUSD $ 500
2018-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,026,744
Program Service Revenue from current yearUSD $ 1,137,140
Investment Income from prior yearUSD $ 230,113
Investment Income from current yearUSD $ 881,225
Other Revenue from prior yearUSD $ 99,322
Other Revenue from current yearUSD $ 61,757
Gross receipts from all sourcesUSD $ 2,454,390
Net assets / fund balances at end of fiscal yearUSD $ 17,150,180
Net assets / fund balances at beginning of fiscal yearUSD $ 16,985,209
Total liabilities at end of fiscal yearUSD $ 674,796
Total liabilities at beginning of fiscal yearUSD $ 395,402
Total assets at end of fiscal yearUSD $ 17,824,976
Total assets at beginning of fiscal yearUSD $ 17,380,611
Revenues less expenses for current yearUSD $ 509,072
Revenues less expenses for previous yearUSD $ -405,508
Total expenses for current yearUSD $ 1,638,800
Total expenses for previous yearUSD $ 1,827,587
Other expenses in current yearUSD $ 568,599
Other expenses in previous yearUSD $ 590,960
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,070,201
Employee salary and benefits paid in previous yearUSD $ 1,236,627
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 2,147,872
Total revenue in previous fiscal yearUSD $ 1,422,079
Contributions and grants from current yearUSD $ 67,750
Contributions and grants from previous yearUSD $ 65,900
Gross income from fundraising eventsUSD $ 5,200
2017-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 890,301
Program Service Revenue from current yearUSD $ 1,026,744
Investment Income from prior yearUSD $ 1,751,230
Investment Income from current yearUSD $ 230,113
Other Revenue from prior yearUSD $ 88,120
Other Revenue from current yearUSD $ 99,322
Gross receipts from all sourcesUSD $ 1,461,006
Net assets / fund balances at end of fiscal yearUSD $ 16,985,209
Net assets / fund balances at beginning of fiscal yearUSD $ 16,572,976
Total liabilities at end of fiscal yearUSD $ 395,402
Total liabilities at beginning of fiscal yearUSD $ 189,777
Total assets at end of fiscal yearUSD $ 17,380,611
Total assets at beginning of fiscal yearUSD $ 16,762,753
Revenues less expenses for current yearUSD $ -405,508
Revenues less expenses for previous yearUSD $ 887,147
Total expenses for current yearUSD $ 1,827,587
Total expenses for previous yearUSD $ 1,891,164
Other expenses in current yearUSD $ 590,960
Other expenses in previous yearUSD $ 661,184
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 28,001
Employee salary and benefits paid in current yearUSD $ 1,236,627
Employee salary and benefits paid in previous yearUSD $ 1,201,979
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,422,079
Total revenue in previous fiscal yearUSD $ 2,778,311
Contributions and grants from current yearUSD $ 65,900
Contributions and grants from previous yearUSD $ 48,660
Gross income from fundraising eventsUSD $ 4,610
Total of other revenueUSD $ 32,346
2016-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,466,284
Program Service Revenue from current yearUSD $ 890,301
Investment Income from prior yearUSD $ 1,034,982
Investment Income from current yearUSD $ 1,751,230
Other Revenue from prior yearUSD $ 45,141
Other Revenue from current yearUSD $ 88,120
Gross receipts from all sourcesUSD $ 3,335,477
Net assets / fund balances at end of fiscal yearUSD $ 16,572,976
Net assets / fund balances at beginning of fiscal yearUSD $ 15,409,308
Total liabilities at end of fiscal yearUSD $ 189,777
Total liabilities at beginning of fiscal yearUSD $ 825,502
Total assets at end of fiscal yearUSD $ 16,762,753
Total assets at beginning of fiscal yearUSD $ 16,234,810
Revenues less expenses for current yearUSD $ 887,147
Revenues less expenses for previous yearUSD $ 645,145
Total expenses for current yearUSD $ 1,891,164
Total expenses for previous yearUSD $ 1,978,562
Other expenses in current yearUSD $ 661,184
Other expenses in previous yearUSD $ 890,976
Total fundraising expenses in current yearUSD $ 28,001
Professional fundraising fees from current yearUSD $ 28,001
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,201,979
Employee salary and benefits paid in previous yearUSD $ 1,087,586
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 2,778,311
Total revenue in previous fiscal yearUSD $ 2,623,707
Contributions and grants from current yearUSD $ 48,660
Contributions and grants from previous yearUSD $ 77,300
Gross income from fundraising eventsUSD $ 3,920
2015-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 4,244,720
Program Service Revenue from current yearUSD $ 1,466,284
Investment Income from prior yearUSD $ 248,029
Investment Income from current yearUSD $ 1,034,982
Other Revenue from prior yearUSD $ 78,670
Other Revenue from current yearUSD $ 45,141
Gross receipts from all sourcesUSD $ 2,682,682
Net assets / fund balances at end of fiscal yearUSD $ 15,409,308
Net assets / fund balances at beginning of fiscal yearUSD $ 14,846,056
Total liabilities at end of fiscal yearUSD $ 825,502
Total liabilities at beginning of fiscal yearUSD $ 970,579
Total assets at end of fiscal yearUSD $ 16,234,810
Total assets at beginning of fiscal yearUSD $ 15,816,635
Revenues less expenses for current yearUSD $ 645,145
Revenues less expenses for previous yearUSD $ 1,796,150
Total expenses for current yearUSD $ 1,978,562
Total expenses for previous yearUSD $ 2,822,319
Other expenses in current yearUSD $ 890,976
Other expenses in previous yearUSD $ 1,698,388
Total fundraising expenses in current yearUSD $ 28,001
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,087,586
Employee salary and benefits paid in previous yearUSD $ 1,098,931
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 25,000
Total revenue in current fiscal yearUSD $ 2,623,707
Total revenue in previous fiscal yearUSD $ 4,618,469
Contributions and grants from current yearUSD $ 77,300
Contributions and grants from previous yearUSD $ 47,050
Gross income from fundraising eventsUSD $ 3,080
Total of other revenueUSD $ 19,635

Other Company Names associated with EIN

WORCESTER BUSINESS DEVELOPMENT CORPORATION

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 042381829

USA Location Address
89 SHREWSBURY STREET, SUITE 300
WORCESTER
MA
01604
Date first seen: 2007-01-01
Date last seen: 2025-12-31
401k Sponsor USA Address
89 SHREWSBURY STREET, SUITE 300
WORCESTER
MA
01604
Date first seen: 2007-01-01
Date last seen: 2025-06-03

Nearby companies/organizations

The following companies are located in the same ZIP code areas:

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