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← ECONOMIC DEVELOPMENT COUNCIL OF WESTERN MASSACHUSETTS INC

Form 990 for tax year 2023

Filed by ECONOMIC DEVELOPMENT COUNCIL OF WESTERN MASSACHUSETTS INC.

Totals

Total revenue
$4,185,047
Total expenses
$4,186,634
Contributions and grants received
$398,465
Grants paid
$0
Program service revenue
$3,782,062
Investment income
$4,520
Other revenue
$0
Total assets, end of year
$1,691,601
Total liabilities, end of year
$1,172,756
Net assets or fund balances, end of year
$518,845
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $398,465

  • 2a · Program service revenue: CONTRACT SERVICE REV.

    total $2,975,107 · related or exempt $2,975,107

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $669,600 · related or exempt $669,600

  • 2c · Program service revenue: PAYROLL PROCESSING

    total $74,827 · excluded $74,827

  • 2d · Program service revenue: OTHER EVENTS

    total $62,528 · related or exempt $62,528

  • 3 · Investment income

    total $4,520 · excluded $4,520

  • 6a · Gross rents

    real property $186,455

  • 6b · Less rental expenses

    real property $186,455

  • 6c · Rental income or loss

    real property $0

  • 6d · Net rental income or loss

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $510,982

  • 7 · Other salaries and wages

    total $2,653,025

  • 8 · Pension plan contributions

    total $186,239

  • 9 · Other employee benefits

    total $206,552

  • 10 · Payroll taxes

    total $252,771

  • 11c · Fees: accounting

    total $27,000

  • 12 · Advertising and promotion

    total $41,449

  • 13 · Office expenses

    total $19,091

  • 16 · Occupancy

    total $36,753

  • 19 · Conferences, conventions and meetings

    total $48,781

  • 22 · Depreciation, depletion and amortization

    total $1,644

  • 23 · Insurance

    total $5,094

  • 24a · Other expenses: PROGRAM EXPENSES

    total $148,465

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $31,660

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $6,428

  • 24d · Other expenses: EVENT EXPENSE

    total $5,369

  • 24e · All other expenses

    total $5,331

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $558,963 · end of year $391,057

  • 2 · Savings and temporary cash investments

    beginning of year $619,765 · end of year $698,195

  • 3 · Pledges and grants receivable

    beginning of year $40,415 · end of year $33,895

  • 4 · Accounts receivable

    beginning of year $141,794 · end of year $103,984

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,073 · end of year $4,639

  • 10a · Land, buildings and equipment: cost or other basis

    $100,078

  • 10b · Land, buildings and equipment: accumulated depreciation

    $96,460

  • 10c · Land, buildings and equipment, net

    beginning of year $626 · end of year $3,618

  • 15 · Other assets

    beginning of year $510,030 · end of year $456,213

  • 17 · Accounts payable and accrued expenses

    beginning of year $199,861 · end of year $150,904

  • 19 · Deferred revenue

    beginning of year $316,330 · end of year $423,011

  • 25 · Other liabilities

    beginning of year $839,043 · end of year $598,841

  • 27 · Net assets without donor restrictions

    beginning of year $520,432 · end of year $518,845

Mission and programs · 2023

Mission

TO STIMULATE AND FACILITATE A VIGOROUS REGIONAL ECONOMY, ENCOURAGING AND SUSTAINING CAPITAL INVESTMENT AND QUALITY JOB GROWTH.

Activities or mission (Part I)

REGIONAL ECONOMIC DEVELOPMENT

  • COORDINATED ECONOMIC DEVELOPMENT ACTIVITIES WITH OTHER BUSINESS DEVELOPMENT GROUPS BY PROVIDING STAFFING AND OTHER SUPPORT SERVICES

  • SUPPORTED REGIONAL ECONOMIC DEVELOPMENT BY RESEARCHING LOCAL BUSINESS NEEDS, PROVIDING RESOURCES TO BUSINESSES OPERATING IN OR ENTERING THE REGION, AND BY PROMOTING LOCAL TOURISM.

  • SPRINGFIELD WORKS INITIATIVE IS A CATALYTIC, COLLECTIVE IMPACT INITIATIVE OF PARTNERS SUPPORTED BY THE ECONOMIC DEVELOPMENT COUNCIL. EACH PARTNER OF THIS INITIATIVE HAS COMMITTED HUMAN AND FINANCIAL RESOURCES TO GOVERN AND DRIVE STRATEGIES TO BUILD ECONOMIC PROSPERITY TO THE AREA THROUGH WORKFORCE DEVELOPMENT. THE GOAL IS TO FIGURE OUT WAYS TO ALIGN AREA-JOB SEEKERS WITH EMPLOYERS AND TO HELP EMPLOYERS RETAIN NEWLY HIRED WORKERS BY SETTING UP EMPLOYEE MENTORING PROGRAMS.

As filed on the 2023 return.

Listed in Part VII

  • TRICIA CANAVAN

    CHAIR THRU 5/23

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINA ROYAL

    V.CHAIR; CHAIR AS OF 5/23

    Total calculated
    $0
    Hours/week
    1

  • LISA MCCARTHY

    2ND VICE CHAIR THRU 5/23

    Total calculated
    $0
    Hours/week
    1

  • STEVEN LOWELL

    TREASURER THRU 5/23

    Total calculated
    $0
    Hours/week
    1

  • KATIE ALLAN ZOBEL

    CLERK THRU 5/23

    Total calculated
    $0
    Hours/week
    1

  • CESAR RUIZ

    DIRECTOR/CLERK EFF 5/23

    Total calculated
    $0
    Hours/week
    1

  • GUS KIM

    DIRECTOR/ V.P EFF 5/23

    Total calculated
    $0
    Hours/week
    1

  • SAM SKURA

    2ND VICE CHAIR EFF 5/23

    Total calculated
    $0
    Hours/week
    1

  • JAIMYE KELLEY

    TREASURER EFF 5/23

    Total calculated
    $0
    Hours/week
    1

  • GEORGE AWADY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALICIA BARTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PHILIP GONCALVES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRISTIN CARLSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELLEN CUMMINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEVIN DAY

    DIRECTOR (END 11-23)

    Total calculated
    $0
    Hours/week
    1

  • CHARLES D'AMOUR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL GLANVILLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIA BO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN DAVIS

    DIRECTOR THRU 9/23

    Total calculated
    $0
    Hours/week
    1

  • MARK KEROACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT BABCOCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID CHASE SR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD SWIFT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR JOHN COOK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES HUNT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT SIMONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL BUTTERFIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER CARMICHAEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUE KRISTJANSSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DENA HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH BITSOLI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC WEINSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHAWN PACE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HARRY DUMAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL MORIARTY

    DIRECTOR (BEG 1-23)

    Total calculated
    $0
    Hours/week
    1

  • DANIEL FINNEGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KUMBLE SUBBASWAMY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD SULLIVAN

    PRESIDENT/CEO OF EDC

    Total calculated
    $427,129
    From this org
    $389,429
    From related orgs
    $0
    Other
    $37,700
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $326,217
    Bonus
    $63,212
    Other
    $0
    Deferred
    $29,700
    Nontaxable benefits
    $8,000
    Filer's total
    $427,129

  • ANNE DEWOLF

    FINANCE DIRECTOR/EDC

    Total calculated
    $83,853
    From this org
    $78,003
    From related orgs
    $0
    Other
    $5,850
    Hours/week
    37.5

  • DIANA SZYNAL

    PRESIDENT/SPFLD CHAMBER

    Total calculated
    $126,247
    From this org
    $117,439
    From related orgs
    $0
    Other
    $8,808
    Hours/week
    37.5

  • MICHAEL BOLTON

    PRESIDENT/WMDC

    Total calculated
    $191,643
    From this org
    $162,084
    From related orgs
    $0
    Other
    $29,559
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $158,751
    Bonus
    $3,333
    Other
    $0
    Deferred
    $12,378
    Nontaxable benefits
    $17,181
    Filer's total
    $191,643

  • ANDRZEJ WIDOR

    AIRPORT MGR/WMDC

    Total calculated
    $180,506
    From this org
    $145,854
    From related orgs
    $0
    Other
    $34,652
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $130,854
    Bonus
    $15,000
    Other
    $0
    Deferred
    $11,091
    Nontaxable benefits
    $23,561
    Filer's total
    $180,506

  • ANNE KANDILIS

    INITIATIVE DIR/SPFLD WORKS

    Total calculated
    $178,043
    From this org
    $151,238
    From related orgs
    $0
    Other
    $26,805
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $150,238
    Bonus
    $1,000
    Other
    $0
    Deferred
    $11,343
    Nontaxable benefits
    $15,462
    Filer's total
    $178,043

  • MARY KAY WYDRA

    PRESIDENT/C&VC

    Total calculated
    $172,017
    From this org
    $153,138
    From related orgs
    $0
    Other
    $18,879
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $139,480
    Bonus
    $13,658
    Other
    $0
    Deferred
    $11,485
    Nontaxable benefits
    $7,394
    Filer's total
    $172,017

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • EDC 413WORKS

    501(C)(3) · ECONOMIC DEVELOPMENT IN W MA · MA

    Directly controlled by EDC OF W MA

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202433209349311683

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