Civic Intelligence

Wentworth Economic Development Corporation Inc.

990 • Fiscal year 2014 • EIN 02-0474842

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 04, 2015

Organization ProfileWWW.WEDCO-NH.ORG

View Organization Page

PO Box 641Wolfeboro, NH 03894

(603) 569-4216

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.28x

Higher debt load relative to assets than 66% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

88th percentile

1.56x

Higher debt load relative to revenue than 88% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

66th percentile

9.4%

Higher net margin than 66% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

45th percentile

$50,000

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 18.6% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

47th percentile

1.2%

Faster asset growth than 47% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

70th percentile

15%

Faster revenue growth than 70% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$1,517,546

Up $17,913 (+1.2%) from 2013

Net Assets

Up

$1,097,341

Up $25,385 (+2.4%) from 2013

Liabilities

Down

$420,205

Down $7,472 (-1.7%) from 2013

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin66th percentile

Revenue

Up

$268,831

Up $35,243 (+15%) from 2013

Expenses

Up

$243,445

Up $13,327 (+5.8%) from 2013

Net Income

Up

$25,386

Up $21,916 (+632%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,572,004Liabilities 2011: $485,148Net Assets 2011: $1,086,8562011Assets 2012: $1,525,629Liabilities 2012: $457,144Net Assets 2012: $1,068,4852012Assets 2013: $1,499,633Liabilities 2013: $427,677Net Assets 2013: $1,071,9562013Assets 2014: $1,517,546Liabilities 2014: $420,205Net Assets 2014: $1,097,3412014Assets 2015: $1,509,193Liabilities 2015: $456,960Net Assets 2015: $1,052,2332015Assets 2016: $1,468,552Liabilities 2016: $409,723Net Assets 2016: $1,058,8292016Assets 2017: $1,478,281Liabilities 2017: $332,512Net Assets 2017: $1,145,7692017Assets 2018: $1,410,895Liabilities 2018: $313,892Net Assets 2018: $1,097,0032018Assets 2019: $1,605,085Liabilities 2019: $544,585Net Assets 2019: $1,060,5002019Assets 2020: $1,401,278Liabilities 2020: $283,518Net Assets 2020: $1,117,7602020Assets 2021: $1,560,305Liabilities 2021: $404,429Net Assets 2021: $1,155,8762021Assets 2022: $1,587,028Liabilities 2022: $440,846Net Assets 2022: $1,146,1822022Assets 2023: $1,857,711Liabilities 2023: $788,670Net Assets 2023: $1,069,0412023Assets 2024: $2,217,886Liabilities 2024: $1,084,977Net Assets 2024: $1,132,9092024

Highlighted filing

2014

Assets$1,517,546
Liabilities$420,205
Net Assets$1,097,341
Open 2014 Filing

Operations Trend

Revenue Growth70th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $247,967Expenses 2011: $491,537Net Income 2011: -$243,5702011Expenses 2012: $238,7572012Revenue 2013: $233,588Expenses 2013: $230,118Net Income 2013: $3,4702013Revenue 2014: $268,831Expenses 2014: $243,445Net Income 2014: $25,3862014Revenue 2015: $199,487Expenses 2015: $244,595Net Income 2015: -$45,1082015Revenue 2016: $256,066Expenses 2016: $249,470Net Income 2016: $6,5962016Revenue 2017: $408,489Expenses 2017: $321,549Net Income 2017: $86,9402017Revenue 2018: $183,343Expenses 2018: $232,109Net Income 2018: -$48,7662018Revenue 2019: $212,031Expenses 2019: $248,534Net Income 2019: -$36,5032019Revenue 2020: $298,605Expenses 2020: $241,345Net Income 2020: $57,2602020Revenue 2021: $327,805Expenses 2021: $289,689Net Income 2021: $38,1162021Revenue 2022: $255,575Expenses 2022: $265,269Net Income 2022: -$9,6942022Revenue 2023: $581,662Expenses 2023: $658,803Net Income 2023: -$77,1412023Revenue 2024: $269,573Expenses 2024: $194,954Net Income 2024: $74,6192024

Highlighted filing

2014

Revenue$268,831
Expenses$243,445
Net Income$25,386
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 4, 2015
Return Version
2014v5.0
Gross Receipts
$270,539
Mission and Program Overview

Mission

Founded for the sole purpose of promoting economic growth in the eastern lakes region.

It was founded for the sole purpose of promoting economic growth in the eastern lakes region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$810,455$933,115▲ $122,660
Savings and Temporary Cash Investments$540,712$380,415▼ $160,297
Cash and Non-Interest-Bearing Accounts$115,268$189,960▲ $74,692
Land, Buildings, and Equipment, Net$7,836$6,022▼ $1,814
Prepaid Expenses and Deferred Charges$3,874$4,463▲ $589
Pledges and Grants Receivable$20,133$3,346▼ $16,787
Accounts Receivable$1,355$225▼ $1,130
Total Assets$1,499,633$1,517,546▲ $17,913
Liabilities
Mortgage Notes Payable Secured by Investment Property$422,550$380,703▼ $41,847
Other Liabilities$2,505$37,716▲ $35,211
Accounts Payable and Accrued Expenses$2,622$1,786▼ $836
Total Liabilities$427,677$420,205▼ $7,472
Net Assets / Fund Balance
Permanently Rstr Net Assets$812,871$819,508▲ $6,637
Temporarily Rstr Net Assets$144,047$166,382▲ $22,335
Unrestricted Net Assets$115,038$111,451▼ $3,587
Total Net Assets Fund Balance$1,071,956$1,097,341▲ $25,385
Total Liabilities and Net Assets / Fund Balance$1,499,633$1,517,546▲ $17,913

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,022$11,333$17,355
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleBaseTotal
Denise Roy-palmerExec. Director$50,000$50,000

Board Members and Trustees

NameTitle
Marcus WeeksPresident
Alan BallardDirector
DAN O'CONNELLDirector
Daniel MillsDirector
Deanna HanleyDirector
James BeanDirector
Mark BorrinDirector
Robert BourdeauDirector
Seth M KasselsDirector
Mary DevriesAt Large Mem
Chris RacinePast Preside
Barry ElliottSecretary
Travis CarloniTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$160,075
Program Service Revenue
$110,380
Investment Income
$-1,624
Other Revenue
$0
All Other Contributions
$140,300
Change in Net Assets
$25,386

Audited Revenue Reconciliation

Revenue per Audited Statements
$270,538
Revenue Not Reported on Financial Statements
$-1,707
Other Revenue Adjustments
$-1,707
Total Revenue per Audited Statements
$270,538
Total Revenue per Form 990
$268,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$167,662
Salaries, Compensation, and Employee Benefits$75,783
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$69,668--$69,668
All Other Expenses$33,389--$33,389
Occupancy$22,250--$22,250
Fees for Services Accounting$14,671--$14,671
Other Expenses$12,000--$12,000
Payroll Taxes$6,115--$6,115
Interest$4,221--$4,221
Fees for Services Legal$2,279--$2,279
Travel$1,896--$1,896
Depreciation Depletion$1,859--$1,859
Total Functional Expenses$243,445$0$0$243,445

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$245,153
Expenses per Audited Statements$243,445
Total Expenses per Form 990$243,445
Expenses Not Reported on Form 990$1,708
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Collateral Held$35,119
Accrued Earned Time - Drp$1,107
Accrued Earned Time - Ta$1,041
Accrued Interest$449
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is initially reviewed by the president and executive director, and then distributed to the entire board of directors for review. It is discussed and approved at a board of directors meeting.”

Form 990, Page 6, Part VI, Line 12C

“After the annual meeting in january, the policy is provided to the board members and they are required to sign an acknowledgement.”

Form 990, Page 6, Part VI, Line 15A

“The president does a written evaluation of the executive director. The board reviews and discusses this and then makes the decision regarding compensation.”

Form 990, Page 6, Part VI, Line 15B

“The executive director is responsible for doing written evaluations and making recommendations to the board for discussion purposes. The board makes the final determination for compensation.”

Form 990, Page 6, Part VI, Line 19

“The articles of incorporation are readily available through the secretary of state-nh corporate divison's website. Other documents, including the conflict of interest policy and financial statements are not made available to the public. However, the irs determination letter is provided upon request and inquirers are directed to the guide star website for the organization's form 990.”

Filing and Contact Details

Filer

Filer Name
Wentworth Economic Development
EIN
02-0474842
Phone
6035694216
Address
PO BOX 641, WOLFEBORO, NH 03894

Signing Officer

Name
Denise Roy-palmer
Title
Executive Director
Phone
6035694216
Signed
2015-08-04

Organization Details

Principal Officer
Wentworth Economic Development
Formed
1993
Legal Domicile
Nh
Voting Board Members
13
Independent Board Members
13
Employees
2

Preparer

Firm
Plodzik & Sanderson Professional Assn
Address
193 NORTH MAIN STREET, CONCORD, NH 03301
Preparer
James a Sojka
Phone
6032256996
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Trac expense 11,051 0 0 insurance 3,396 0 0 advertising and marketing 2,768 0 0 telephone 2,529 0 0 insurance: employee benef 2,435 0 0 dues and subscriptions 2,426 0 0 supplies 2,042 0 0 repairs 1,800 0 0 irp bank service charges 648 0 0 training & education 508 0 0 printing and reproduction 484 0 0 pwc - expense 392 0 0 wolfeboro energy comm 390 0 0 professional fees: srchs/ 389 0 0 postage and delivery 359 0 0 equipment lease 301 0 0 professional fees: consul 250 0 0 professional fees: dispos 239 0 0 bad debt expense (recover 205 0 0 credit bureau 179 0 0 bank service charges - sa 119 0 0 earned time 111 0 0 events expense 104 0 0 donation 100 0 0 miscellaneous 89 0 0 professional fees: other 75 0 0”

Form 990, Part XI, Line 9

“Loss on asset disposal 1,708 rounding -1 loss on asset disposal -1,708”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

“Loss on asset disposal -1,708 rounding 1”

Schedule D, Page 4, Part XII, Line 2D

“Loss on asset disposal 1,708”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 47,926
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON ASSET DISPOSAL -1,708 ROUNDING 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON ASSET DISPOSAL 1,708
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS INITIALLY REVIEWED BY THE PRESIDENT AND EXECUTIVE DIRECTOR, AND THEN DISTRIBUTED TO THE ENTIRE BOARD OF DIRECTORS FOR REVIEW. IT IS DISCUSSED AND APPROVED AT A BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AFTER THE ANNUAL MEETING IN JANUARY, THE POLICY IS PROVIDED TO THE BOARD MEMBERS AND THEY ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT DOES A WRITTEN EVALUATION OF THE EXECUTIVE DIRECTOR. THE BOARD REVIEWS AND DISCUSSES THIS AND THEN MAKES THE DECISION REGARDING COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR DOING WRITTEN EVALUATIONS AND MAKING RECOMMENDATIONS TO THE BOARD FOR DISCUSSION PURPOSES. THE BOARD MAKES THE FINAL DETERMINATION FOR COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ARTICLES OF INCORPORATION ARE READILY AVAILABLE THROUGH THE SECRETARY OF STATE-NH CORPORATE DIVISON'S WEBSITE. OTHER DOCUMENTS, INCLUDING THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. HOWEVER, THE IRS DETERMINATION LETTER IS PROVIDED UPON REQUEST AND INQUIRERS ARE DIRECTED TO THE GUIDE STAR WEBSITE FOR THE ORGANIZATION'S FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5TRAC EXPENSE 11,051 0 0 INSURANCE 3,396 0 0 ADVERTISING AND MARKETING 2,768 0 0 TELEPHONE 2,529 0 0 INSURANCE: EMPLOYEE BENEF 2,435 0 0 DUES AND SUBSCRIPTIONS 2,426 0 0 SUPPLIES 2,042 0 0 REPAIRS 1,800 0 0 IRP BANK SERVICE CHARGES 648 0 0 TRAINING & EDUCATION 508 0 0 PRINTING AND REPRODUCTION 484 0 0 PWC - EXPENSE 392 0 0 WOLFEBORO ENERGY COMM 390 0 0 PROFESSIONAL FEES: SRCHS/ 389 0 0 POSTAGE AND DELIVERY 359 0 0 EQUIPMENT LEASE 301 0 0 PROFESSIONAL FEES: CONSUL 250 0 0 PROFESSIONAL FEES: DISPOS 239 0 0 BAD DEBT EXPENSE (RECOVER 205 0 0 CREDIT BUREAU 179 0 0 BANK SERVICE CHARGES - SA 119 0 0 EARNED TIME 111 0 0 EVENTS EXPENSE 104 0 0 DONATION 100 0 0 MISCELLANEOUS 89 0 0 PROFESSIONAL FEES: OTHER 75 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6LOSS ON ASSET DISPOSAL 1,708 ROUNDING -1 LOSS ON ASSET DISPOSAL -1,708
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,517,546
Liabilities
$420,205
Net assets
$1,097,341
Revenue
$268,831
Expenses
$243,445
Net income
$25,386
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.22$1.08$1.13$0.27$0.19$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.86$0.79$1.07$0.58$0.66$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.59$0.44$1.15$0.26$0.27$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.56$0.40$1.16$0.33$0.29$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.40$0.28$1.12$0.30$0.24$0.06
2019Detailed filing. Detailed filing data is available for this year.$1.61$0.54$1.06$0.21$0.25$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.41$0.31$1.10$0.18$0.23$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.48$0.33$1.15$0.41$0.32$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.47$0.41$1.06$0.26$0.25$0.01
2015Summary only. Only limited summary data is available for this year.$1.51$0.46$1.05$0.20$0.24$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.52$0.42$1.10$0.27$0.24$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.50$0.43$1.07$0.23$0.23$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$0.46$1.07$0.24
2011Summary only. Only limited summary data is available for this year.$1.57$0.49$1.09$0.25$0.49$0.24