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WESTMINSTER ECONOMIC DEVELOPMENT INITIATIVE INC
BUFFALO, NY · EIN 204230463 · Form 990 · FY2024 · NTEE S30 · Community Improvement · Medium ($1M-$10M)
revenue
$2.2M
expenses
$2.2M
net assets
$10.0M
employees
53
volunteers
50
program ratio
72%
mission · from form 990

WEDI STRENGHTENS COMMUNITIES THROUGH A CONTINUUM OF EDUCATIONAL AND FINANCIAL RESOURCES FOR ALL WESTERN NEW YORKERS.

profile · synthesized from sources

Westminster Economic Development Initiative Inc (WEDI) strengthens communities by providing educational and financial resources to individuals in Western New York. The organization supports wealth generation through small business development and offers programs focused on academic and social support for English Language Learners, particularly Students with Interrupted Formal Education. Services include financial literacy training, technical assistance, mentorship, and a microloan program.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

  1. #1 primary $836K
    ECONOMIC DEVELOPMENT - PROVIDED A COMPREHENSIVE MODEL FOR GENERATING WEALTH FOR MOTIVATED INDIVIDUALS THROUGH THE CREATION OR EXPANSION OF A SMALL BUSINESS. WEDI'S PROGRAM IS UNIQUE IN ITS ABILITY TO PROVIDE A BROAD RANGE OF SERVICES, UTILIZING EXISTING COMMUNITY RESOURCES WHEN AVAILABLE, AND MOLD THE PROCESS TO EACH INDIVIDUAL. THIS IS DONE THROUGH MENTORS, WHO WORK WITH CLIENTS INDIVIDUALLY AND THROUGH PARTNERSHIPS WITH LOCAL ORGANIZATIONS. WEDI CAN PROVIDE A RANGE OF SERVICE FROM BASIC FINANCIAL LITERACY TO SPECIALIZED TRAINING AND TECHNICAL ASSISTANCE. WEDI OFFERS A MICRO LOAN PROGRAM THAT OFFERS SMALL, TARGETED LOANS FOR BUSINESS CREATION OR EXPANSION IN WEDI'S TARGET AREA THAT CAN DIRECTLY RESULT IN INCREASED INCOME AND WEALTH GENERATION.
  2. #2 $316K
    EDUCATION, NURTURE, ENCOURAGEMENT, READINESS, AND GROWTH FOR YOUTH (ENERGY), LAUNCH, AND FOCUSED LEARNING FOR YOUTH (FLY) - THE FOCUS OF THESE PROGRAMS IS TO HELP ENGLISH LANGUAGE LEARNERS (ELLS) SPECIFICIALLY STUDENTS WITH INTERRUPTED FORMAL EDUCATION (SIFE) TO IMPROVE MORE QUICKLY, ACADEMICALLY, AND SOCIALLY THAN THEY WOULD WITHOUT ENERGY, LAUNCH, OR FLY'S INPUT OUTSIDE OF SCHOOL. CHILDREN RECEIVE HOMEWORK AND ACADEMIC SUPPORT, ENJOY A SHARED FAMILY STYLE MEAL AND GAIN ACCESS TO INDIVIDUAL ADULT MENTORS AND TUTORS.
named programs · 2 · from sources

What they call their work

ENERGY, LAUNCH, and FLY
After-school programs offering academic support, homework help, family-style meals, and mentorship for English Language Learners, particularly Students with Interrupted Formal Education (SIFE), to improve academic and social outcomes.
Economic Development Program
Provides comprehensive support for small business creation and expansion, including financial literacy training, technical assistance, mentorship, and access to a microloan program for individuals in Western New York.
activities · 2 groups

What they do

  • Small Business Technical Assistance 1 activity
    • Small business support and microloan program
      Provides a comprehensive economic development program in Western New York that supports small business creation and expansion through individualized mentoring, financial literacy training, technical assistance, and a microloan program for motivated individuals.
  • After-School Academic and Enrichment Programs 1 activity
    • Youth education and mentoring programs
      Operates youth education programs (ENERGY, LAUNCH, FLY) in Western New York that provide academic support, homework help, family-style meals, and individual adult mentoring and tutoring for English Language Learners, particularly Students with Interrupted Formal Education.
financials · form 990 · fy2024
revenue
Total revenue$2.17M
Contributions & grants$1.56M72%
Program service revenue$332K15%
Investment income$-11K-1%
Other revenue$294K
expenses
Total expenses$2.18M
Program expenses72%
Admin / overhead19%
Fundraising8%
Salaries & benefits$1.08M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$11.71M
Cash$794K
Investments$0
Liabilities$1.68M
Net assets$10.04M
Liquid reserves4.4 mo
5 years on record · 2020–2024 · YoY revenue -68.6%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
CAROLYNN WELCH EXECUTIVE DIRECTOR 40 $96K
board members · 16
  • BETSY MITCHELL — BOARD MEMBER (TO 12/31/24)
  • CATHERINE MARCH — BOARD MEMBER
  • CHRISTINE UWIMBABAZI — BOARD MEMBER
  • CONCETTA FERGUSON — BOARD MEMBER
  • DONNA GENESKY — BOARD MEMBER (TO 8/31/24)
  • GUSTAVO LIMA — BOARD MEMBER
  • INDU DEWAN — BOARD MEMBER
  • JOANN BELLIOTTI — BOARD MEMBER (TO 9/30/24)
  • KATIE O'CONNOR — BOARD MEMBER
  • KRISTA SCHWARTZOTT — BOARD MEMBER/PRESIDENT
  • LUKE DONIGAN — BOARD MEMBER/ASSIST SECRET (TO 12/31/24)
  • MELANIE JASKOLKA — BOARD MEMBER/VICE PRESIDEN
  • MICHAEL KENLINE — BOARD MEMBER
  • MIMI STEADMAN — BOARD MEMBER/SECRETARY
  • STEPHEN ZENGER — BOARD MEMBER
  • ZELALEM GEMMEDA — BOARD MEMBER (TO 12/31/24)
relationships · 1

Who they work with

  • local organizations Partner — Partners with local organizations to deliver economic development and youth education programs.
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Individualized Mentor-Driven Support
    methodology: individualized_mentorship_model
    By providing personalized mentorship that connects participants with local resources and partnerships, we produce tailored economic and educational development outcomes because individualized guidance increases relevance and engagement.