Civic Intelligence

West Side Bazaar Inc.

EIN 87-1265522 • 501(c)3 • Buffalo, NY

Pub. 78 Eligible990-N CoverageNTEE P28

Profile

Promote public interests and lessen the burdens on government in western new york by coordinating and contributing to the redevelopment of the community. Provide a space where new business owners can develop their business, attract and retain business and work towards the continued development of business in the community.

1432 Niagara StreetBuffalo, NY 14213

wedibuffalo.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

1.00x

Higher debt load relative to assets than 92% of similar nonprofits.

NTEE P • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

9.04x

Higher debt load relative to revenue than 98% of similar nonprofits.

NTEE P • $1M-$5M nonprofits • Source year 2024

Net Margin

1st percentile

-222%

Higher net margin than 1% of similar nonprofits.

NTEE P • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

60th percentile

$95,560

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 35.6% of source-year revenue.

NTEE P • $1M-$5M nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets92nd percentile

Assets

$2,432,250

No earlier filing loaded for comparison.

Liabilities

$2,427,388

No earlier filing loaded for comparison.

Net Assets

$4,862

No earlier filing loaded for comparison.

Operations
Liabilities / Revenue98th percentileNet Margin1st percentile

Revenue

$268,653

No earlier filing loaded for comparison.

Expenses

$865,340

No earlier filing loaded for comparison.

Net Income

-$596,687

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2024: $2,432,250Liabilities 2024: $2,427,388Net Assets 2024: $4,8622024

Highlighted filing

2024

Assets$2,432,250
Liabilities$2,427,388
Net Assets$4,862
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500K-$1.0MRevenue 2024: $268,653Expenses 2024: $865,340Net Income 2024: -$596,6872024

Highlighted filing

2024

Revenue$268,653
Expenses$865,340
Net Income-$596,687
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,432,250
Liabilities
$2,427,388
Net assets
$4,862
Revenue
$268,653
Expenses
$865,340
Net income
-$596,687
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$2.43$0.00$0.27$0.87$0.60
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.2
Gross Receipts
$268,653
Mission and Program Overview

Mission

Promote public interests and lessen the burdens on government in western new york by coordinating and contributing to the redevelopment of the community. Provide a space where new business owners can develop their business, attract and retain business and work towards the continued development of business in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$675,000$0▼ $675,000
Pledges and Grants Receivable$0$308,801▲ $308,801
Cash and Non-Interest-Bearing Accounts$57,392$107,214▲ $49,822
Land, Buildings, and Equipment, Net$0$20,459▲ $20,459
Inventories for Sale or Use$0$1,983▲ $1,983
Total Assets$2,797,189$2,432,250▼ $364,939
Other Assets Total$2,064,797$1,993,793▼ $71,004
Liabilities
Other Liabilities$2,190,879$2,401,398▲ $210,519
Accounts Payable and Accrued Expenses$4,761$25,990▲ $21,229
Total Liabilities$2,195,640$2,427,388▲ $231,748
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$601,549$4,862▼ $596,687
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$601,549$4,862▼ $596,687
Total Liabilities and Net Assets / Fund Balance$2,797,189$2,432,250▼ $364,939

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,135$757$15,892
Other Land Buildings$5,324$314$5,638
Other Assets Org$1,988,193--
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Carolynn WelchExecutive DirectorFT$95,560$95,560

Board Members and Trustees

NameTitle
Krista SchwartzottBoard Member/president
Melanie JaskolkaBoard Member/vice President
Concetta FergusonBoard Member/secretary
Mimi SteadmanBoard Member/secretary
Luke DoniganBoard Member/secretary (to 12/31/24)
Stephen ZengerBoard Member/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$34,264
Program Service Revenue
$204,350
Investment Income
$0
Other Revenue
$30,039
All Other Contributions
$34,264
Change in Net Assets
$-596,687
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$481,393
Salaries, Compensation, and Employee Benefits$383,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$343,008--$343,008
Occupancy$318,859--$318,859
Payroll Taxes$23,416--$23,416
Fees for Services Other$16,720--$16,720
All Other Expenses$16,204--$16,204
Other Employee Benefits$14,660--$14,660
Other Expenses$14,308--$14,308
Office Expenses$10,286--$10,286
Pension Plan Contributions$2,863--$2,863
Fees for Services Legal$2,448--$2,448
Fees for Services Accounting$1,575--$1,575
Depreciation Depletion$1,071--$1,071
Information Technology$566--$566
Travel$160--$160
Advertising$126--$126
Total Functional Expenses$865,340$0$0$865,340
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
Lease Liability$2,054,547
Due to Related Parties$330,726
Other Liabilities$16,125
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Westminster economic development initiative, inc. Is the sole corporate member of the filing organization.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an outside, independent accounting firm. The executive director reviews a draft prior to filing. A copy of the form 990 is provided to all voting members of the governing body (board of directors) prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest disclosures are signed annually by all directors as well as new members joining the board during interim periods. This procedure is a regular agenda item at the annual meeting.”

Form 990, Part VI, Section B, Line 15A

“The executive director's compensation is compared to other local organizations, scaled for appropriate size, and adjusted according to performance reviews. All other employee salaries are at the discretion of the executive director.”

Form 990, Part VI, Section C, Line 18

“The organization's form 990 and form 1023 are available upon request.”

Form 990, Part VI, Section C, Line 19

“Documents are made available for inspection at the administrative offices. Copies can be obtained at the requesting party's expense.”

Filing and Contact Details

Filer

Filer Name
West Side Bazaar Inc
EIN
87-1265522
Phone
7164646389
Address
1432 NIAGARA STREET, BUFFALO, NY 14213

Signing Officer

Name
Carolynn Welch
Title
Executive Director
Phone
7164646389
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carolynn Welch
Formed
2021
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Withum Smith & Brown Pc
Address
424 MAIN STREET SUITE 800, BUFFALO, NY 14202-3508
Preparer
Mary Madonia
Phone
7168472651
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“There was no change from the prior year in the audit oversight process or the independent accountant selection process.”

Raw XML AppendixShowing 400 of 473 raw XML fields

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/GiftsGrantsContrisRcvd509Grp/TotalAmt051608
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0234389
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0711220
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0945609
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt0977217
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt020000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt020000
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0268653
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0723564
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt05000
IRS990ScheduleA/Total509Grp/TotalAmt0997217
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0268653
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0723564
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt05000
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0997217
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt015135
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0757
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt015892
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1100
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21988193
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM RELATED PARTIES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INVESTMENT IN WSB BUFFALO MM, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ROU ASSET
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05324
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0314
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05638
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0330726
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12054547
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt216125
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OTHER LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt020459
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01993793
IRS990ScheduleD/TotalLiabilityAmt02401398
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE, INC. IS THE SOLE CORPORATE MEMBER OF THE FILING ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. THE EXECUTIVE DIRECTOR REVIEWS A DRAFT PRIOR TO FILING. A COPY OF THE FORM 990 IS PROVIDED TO ALL VOTING MEMBERS OF THE GOVERNING BODY (BOARD OF DIRECTORS) PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICT OF INTEREST DISCLOSURES ARE SIGNED ANNUALLY BY ALL DIRECTORS AS WELL AS NEW MEMBERS JOINING THE BOARD DURING INTERIM PERIODS. THIS PROCEDURE IS A REGULAR AGENDA ITEM AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR'S COMPENSATION IS COMPARED TO OTHER LOCAL ORGANIZATIONS, SCALED FOR APPROPRIATE SIZE, AND ADJUSTED ACCORDING TO PERFORMANCE REVIEWS. ALL OTHER EMPLOYEE SALARIES ARE AT THE DISCRETION OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S FORM 990 AND FORM 1023 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE FOR INSPECTION AT THE ADMINISTRATIVE OFFICES. COPIES CAN BE OBTAINED AT THE REQUESTING PARTY'S EXPENSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE WAS NO CHANGE FROM THE PRIOR YEAR IN THE AUDIT OVERSIGHT PROCESS OR THE INDEPENDENT ACCOUNTANT SELECTION PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0874723775
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0RESIDENTIAL REAL ESTATE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0WSB BUFFALO MM LLC (WSB BUFFALO)
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01432 NIAGARA STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BUFFALO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd014213
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0874625708
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0RESIDENTIAL REAL ESTATE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt01432 NIAGARA BUFFALO LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt01432 NIAGARA STREET
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0BUFFALO
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd014213
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0204230463
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RESIDENTIAL SERVICES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01432 NIAGARA STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BUFFALO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd014213
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00

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