Winchester Economic Development Corportation FY2023 filing

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The mission of the wedc is to support existing businesses, attract new commercial ventures, and to promote sustainable growth utilizing environmentally sound strategies, for the purpose of improving tax base, employment, and offering a wider selection of services and products to the community of Winchester.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 32-0316421) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$16K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $74K a year · 51% of revenue · last 5 filings
A surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
90% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$16K
to officers and key staff · 22% of spending
Pay to officers and key staff is 22% of spending.
Part VII, Section A
11.5 mo
of spending, in cash
11.5 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$279K
42% of total assets
Liabilities are 42% of assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
7 of 7 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$15K
-33% vs prior year
Spent
$72K
To programs
90%
Net assets
$388K
By yearFY2020–FY2024
Revenue
$15K
FY2023▼ -33%
Tap a bar for its year
Revenue by fiscal year
FY2020$328K
FY2021$308K
FY2022$22K
FY2023$15K
FY2024$44K
Expenses
$72K
FY2023▼ -19%
Tap a bar for its year
Expenses by fiscal year
FY2020$58K
FY2021$44K
FY2022$88K
FY2023$72K
FY2024$87K
Net assets
$388K
FY2023▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$247K
FY2021$512K
FY2022$445K
FY2023$388K
FY2024$775K

From the FY2023 Form 990 · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $65K Management & general 10% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $16K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Executive Director
$15,864Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jessica Wright-Moore’s $32K as Executive Director is at the 72nd percentile of top reported officer pay among 168 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023
Jessica Wright-Moore$32,170$15,864

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Winchester Economic Development Corportation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes sustainable business growth and attracts new ventures to improve the community.

Questions for Winchester Economic Development Corportation

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1 program · $65K · in their own filed words · FY2023
01

Economic development administration, U.S. Department of commerce.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 32-0316421) · Dispute this line
$65Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$4K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$15K
Ln 12
Other incomeLn 4–11$12K
Gifts and grantsLn 1h$3K
Investment incomeLn 3$24
Money outPt IX
$72K
Ln 25
Programscol B$65K
Managementcol C$7K
Owns and owesPt X
$388K
net assets · Ln 32
Cash and savingsLn 1–2$68K
Total assetsLn 16$667K
LiabilitiesLn 26$279K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Investment incomeLn 3$24
Other incomeLn 4–11$12K
Gains on assetsLn 7$12K
Total revenueLn 12$15K
Assets in detailPt X, end of year
CashLn 1$18K
SavingsLn 2$50K
Cash and savings togetherLn 1–2$68K
Land, buildings, equipmentLn 10c$86K
Other assetsLn 15$513K
Total assetsLn 16$667K
LiabilitiesLn 26$279K
Net assetsLn 32$388K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$118K$68K
Land, buildings, equipmentLn 10c$90K$86K
Total assetsLn 16$790K$667K
LiabilitiesLn 26$345K$279K
Net assetsLn 32$445K$388K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$16K$16K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$5K$5K
Advertising and promotionLn 12$13K$13K
Office expensesLn 13$424$424
Conferences, conventions and meetingsLn 19$169$169
InterestLn 20$17K$17K
Depreciation, depletion and amortizationLn 22$5K$5K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$6K$5K$850
Total functional expensesLn 25$72K$65K$7K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS May 13, 2026 $44K$87K−$43K$775K 990 PDF
FY2023 ViewingFiled with the IRS Nov 6, 2024 $15K$72K−$57K$388K 990 PDF
FY2022Filed with the IRS Aug 10, 2023 $22K$88K−$67K$445K 990 PDF
FY2021Filed with the IRS May 16, 2022 $308K$44K$264K$512K 990 PDF
FY2020Filed with the IRS May 17, 2021 $328K$58K$271K$247K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2023 990
Part I · Summary $14,675 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $35,000$2,950
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$13,177$11,725
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $21,823$14,675
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$15,864
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $88,471$55,754
I-18 Total expensesPrior year $88,471$71,618
I-19 Revenue less expensesPrior year −$66,648−$56,943
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $14,675 across 5 lines filed
VIII-1f All other contributions, gifts and grants$2,950
VIII-1h Total contributions, gifts and grants$2,950
VIII-3 Investment incomeExcluded from tax $24$24
VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,701$11,701
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $11,725$14,675
Part IX · Statement of functional expenses $71,618 across 11 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $15,864$15,864
IX-11b Legal feesPrograms $3,000$3,000
IX-11c Accounting feesManagement $5,575$5,575
IX-11g Other fees for servicesPrograms $4,557$4,557
IX-12 Advertising and promotionPrograms $12,983$12,983
IX-13 Office expensesManagement $424$424
IX-19 Conferences, conventions and meetingsManagement $169$169
IX-20 InterestPrograms $16,749$16,749
IX-22 Depreciation, depletion and amortizationPrograms $4,759$4,759
IX-23 InsurancePrograms $1,379$1,379
IX-24 Other expenses (24a–d)Programs $5,309 · Management $850$6,159
IX-25 Total functional expensesPrograms $64,600 · Management $7,018 · Fundraising $0$71,618
Part X · Balance sheet $667,105 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $118,001$18,442
X-2 Savings and temporary cash investments$50,000
X-10c Land, buildings and equipment, netStart of year $90,422$85,663
X-15 Other assetsStart of year $581,299$513,000
X-16 Total assetsStart of year $789,722$667,105
X-23 Secured mortgages and notes payableStart of year $344,848$279,174
X-26 Total liabilitiesStart of year $344,848$279,174
X-27 Net assets without donor restrictionsStart of year $444,874$387,931
X-32 Total net assets or fund balancesStart of year $444,874$387,931
X-33 Total liabilities and net assetsStart of year $789,722$667,105
Part XI · Reconciliation of net assets $387,931 net assets at year end
XI-1 Total revenue$14,675
XI-2 Total expenses$71,618
XI-3 Revenue less expenses−$56,943
XI-4 Net assets at start of year$444,874
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$387,931

Form 990 e-file FY2023 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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