WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC Charity Report

Public IRS 990 nonprofit record

WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC

EIN 20-4230463 · Economic Development (S30)

What they do

WEDI STRENGHTENS COMMUNITIES THROUGH A CONTINUUM of EDUCATIONAL and FINANCIAL RESOURCES for ALL WESTERN NEW YORKERS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $72.30 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders17 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

72.67%of revenue went to mission work72.3% of expenses · Program services

8.30%of revenue went to fundraising8.3% of expenses

$100.54spent for every $100 of revenueSpending was higher than revenue this year.

19.58%of revenue went to management and office costs19.5% of expenses

$5.36in assets for every $1 spent this yearSome assets cannot be spent right away.

71.7%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $11,817 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $95,920 for CAROLYNN WELCH (EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$2,171,800

Mission workProgram services$1,578,18672.67% of revenue72.3% of expenses

ManagementOffice and general costs$425,23619.58% of revenue19.5% of expenses

FundraisingAsking for donations$180,1958.30% of revenue8.3% of expenses

Total expenses$2,183,617100.54% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 72.3% mission · 19.5% management · 8.3% fundraisingTotal expenses: 100.54% of revenue

2023Expense mix: 74.0% mission · 14.8% management · 11.2% fundraisingTotal expenses: 35.75% of revenue

2022Expense mix: 69.8% mission · 14.8% management · 15.4% fundraisingTotal expenses: 70.70% of revenue

2021Expense mix: 70.8% mission · 11.4% management · 17.7% fundraisingTotal expenses: 42.90% of revenue

2020Expense mix: 73.7% mission · 16.1% management · 10.2% fundraisingTotal expenses: 83.22% of revenue

2019Expense mix: 71.5% mission · 16.0% management · 12.5% fundraisingTotal expenses: 93.28% of revenue

2018Expense mix: 79.0% mission · 14.3% management · 6.7% fundraisingTotal expenses: 75.40% of revenue

2017Expense mix: 80.8% mission · 8.8% management · 10.4% fundraisingTotal expenses: 68.82% of revenue

Money in and money out

Revenue$2,171,800

Expenses$2,183,617

Annual shortfall $11,817 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,578,186 · 72.3% of expenses

Management and office costs$425,236 · 19.5% of expenses

Fundraising$180,195 · 8.3% of expenses

See all reported dollar amounts

Revenue$2,171,800

Expenses$2,183,617

Assets$11,712,530

Income$2,190,817

Contributions$1,557,693

Mission work (program services)$1,578,186

Fundraising$180,195

Grants given$6,633

Average grant$6,633

Management and general$425,236

Accounting fees$153,891

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

CAROLYNN WELCHEXECUTIVE DIRECTOR · 40 hrs/week $95,920Base $84,845 · Other $11,075

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (17)

CAROLYNN WELCHEXECUTIVE DIRECTOR

ZELALEM GEMMEDABOARD MEMBER (TO 12/31/24)

BETSY MITCHELLBOARD MEMBER (TO 12/31/24)

STEPHEN ZENGERBOARD MEMBER

MIMI STEADMANBOARD MEMBER/SECRETARY

MICHAEL KENLINEBOARD MEMBER

MELANIE JASKOLKABOARD MEMBER/VICE PRESIDEN

LUKE DONIGANBOARD MEMBER/ASSIST SECRET (TO 12/31/24)

KRISTA SCHWARTZOTTBOARD MEMBER/PRESIDENT

KATIE OCONNORBOARD MEMBER

JOANN BELLIOTTIBOARD MEMBER (TO 9/30/24)

INDU DEWANBOARD MEMBER

GUSTAVO LIMABOARD MEMBER

DONNA GENESKYBOARD MEMBER (TO 8/31/24)

CONCETTA FERGUSONBOARD MEMBER

CHRISTINE UWIMBABAZIBOARD MEMBER

CATHERINE MARCHBOARD MEMBER

About this charity

Recognized since: January 2007
Location: 1432 NIAGARA STREET, BUFFALO, NY 14213
County: Erie
In care of: CAROLYNN WELCH
Primary officer: CAROLYNN WELCH, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website EmailINFO@WEDIBUFFALO.ORG Phone(716) 393-4088

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: WITHUM SMITH & BROWN PC
NTEE classification: Economic Development (S30)
IRS tax category: Economic Development
Grant-giving organization: Yes