Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1960.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
14 people listed on the 990; $1.5M paid to officers and key staff.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| R Scott Satterfield | $1,331,019 | $538,050 | $482,347 | $406,992 | $388,161 |
| Cliff Pyron JR | $216,735 | $187,928 | $169,167 | $130,938 | — |
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.
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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 15aYes
Programs and updates
Attracts businesses and investors to the Wilmington area through outreach, market intelligence, and project assistance.
Questions for Wilmington Business Development
Your first name shows with your question. Wilmington Business Development answers here, for everyone.
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WBD actively engages in ally, investor and partnership development, outreach and education that effectively promote and improve the region, its economic assests, business interests and quality-of-life. Key initiatives are ally, investor and partnership development and outreach and education.
WBD aggressively deploys outreach tools in showcasing greater wilmington as a destination for high-quality economic investors. Key initiatives are market intelligence, lead generation & client development, project management & technical assistance, and involvement of public partners.
WBD endeavors to support existing businesses of greater wilmington and the jobs they represent. Key initiatives are feedback & intelligence gathering, location service delivery, and resource development and coordination.
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.7M | $1.2M |
| Land, buildings, equipmentLn 10c | $110K | $110K |
| Total assetsLn 16 | $2.2M | $1.7M |
| LiabilitiesLn 26 | $0 | $0 |
| Net assetsLn 32 | $2.2M | $1.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $1.6M | |||
| Other salaries and wagesLn 7 | $151K | |||
| Pension plan contributionsLn 8 | $90K | |||
| Other employee benefitsLn 9 | $54K | |||
| Payroll taxesLn 10 | $57K | |||
| Accounting feesLn 11c | $7K | |||
| Other fees for servicesLn 11g | $75K | |||
| Advertising and promotionLn 12 | $31K | |||
| OccupancyLn 16 | $44K | |||
| TravelLn 17 | $8K | |||
| Conferences, conventions and meetingsLn 19 | $965 | |||
| InsuranceLn 23 | $35K | |||
| Other expenses (24a–d)Ln 24 | $62K | |||
| All other expensesLn 24e | $8K | |||
| Total functional expensesLn 25 | $2.2M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $1.8M | $2.2M | −$463K | $1.7M | 990 PDF |
| FY2024 | $1.6M | $1.3M | $265K | $2.2M | 990 PDF |
| FY2023 | $1.5M | $1.3M | $194K | $1.9M | 990 PDF |
| FY2022 | $1.3M | $1.1M | $245K | $932K | 990 PDF |
| FY2021 | $1.1M | $986K | $95K | $687K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,750,836 revenue, 12 lines filed
Part VI · Governance 13 of 13 board members independent, no flags
Part VIII · Statement of revenue $1,750,836 across 4 lines filed
Part IX · Statement of functional expenses $2,213,408 across 14 lines filed
Part X · Balance sheet $1,730,483 assets, 8 lines filed
Part XI · Reconciliation of net assets $1,730,483 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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