Westminster Economic Development Initiative Inc
Westminster Economic Development Initiative Inc shows significant revenue and asset growth with no reported officer compensation.
EIN: 204230463 · Buffalo, NY · NTEE: S30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $2.5M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $12 |
| Net Assets | $10.0M |
| Transparency Score | 90/100 |
Search Intent Cockpit
Westminster Economic Development Initiative Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Westminster Economic Development Initiative Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Westminster Economic Development Initiative Inc in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $6.9M and expenses of $2.5M.
Revenue and Expenses
Westminster Economic Development Initiative Inc reported $6.9M in revenue and $2.5M in expenses, a surplus of $4.4M.
Executive Compensation
Top officer compensation appears as $12 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
90/100 mission score, 1 red flag, and 4 strengths are shown from structured and AI review.
Is Westminster Economic Development Initiative Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $2.1M (85%) |
Across stored filings, Westminster Economic Development Initiative Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 1 red flag identified |
| Mission spend | 85% to programs | Excellent |
| Financial durability | Grade A | 13 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Community Improvement context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
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Local and Sector Spokes
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Buffalo, NY nonprofitsCommunity Improvement in New York
Public Benefit in New York
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Next Best Actions
Keep the Investigation Moving
Westminster Economic Development Initiative Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Westminster Economic Development Initiative Inc
Westminster Economic Development Initiative Inc (EIN: 204230463) is a nonprofit organization based in Buffalo, NY, classified under NTEE code S30. The organization reported total revenue of $2.2M and total assets of $11.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Westminster Economic Development Initiative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Westminster Economic Development Initiative Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 44.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.9M |
| Total Expenses | $2.5M |
| Surplus / Deficit | +$4.4M |
| Total Assets | $12.6M |
| Total Liabilities | $2.6M |
| Net Assets | $10.0M |
| Operating Margin | 64.2% |
| Debt-to-Asset Ratio | 20.3% |
| Months of Reserves | 61.1 months |
Financial Health Grade: A
In 2023, Westminster Economic Development Initiative Inc reported a surplus of $4.4M with revenue exceeding expenses, holds 61.1 months of operating reserves (strong position), has a debt-to-asset ratio of 20.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Westminster Economic Development Initiative Inc's revenue has grown at a compound annual growth rate (CAGR) of 44.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +113.1% | +7.7% | +21.1% |
| 2022 | -32.7% | +10.9% | +96.7% |
| 2021 | +127.7% | +17.4% | +102.7% |
| 2020 | +23.5% | +10.2% | +9.6% |
| 2019 | +30.7% | +61.6% | +17.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Westminster Economic Development Initiative Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Westminster Economic Development Initiative Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $4.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 20.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries were paid to officers, which is highly unusual for an organization of this size with assets exceeding $12 million and revenue nearing $7 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Westminster Economic Development Initiative Inc's IRS 990 filings:
- Unusually low (0%) reported officer compensation for an organization of this size, which may warrant further investigation into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Westminster Economic Development Initiative Inc:
- Exceptional revenue growth, increasing from $2,118,673 in 2020 to $6,918,706 in 2023.
- Strong asset accumulation, growing from $2,609,168 in 2020 to $12,601,013 in 2023.
- Consistent reporting of 0% officer compensation, suggesting a high dedication of funds to programs.
- Healthy financial position with assets significantly exceeding liabilities across all reported periods.
Frequently Asked Questions about Westminster Economic Development Initiative Inc
Is Westminster Economic Development Initiative Inc a legitimate charity?
Westminster Economic Development Initiative Inc (EIN: 204230463) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.2M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Westminster Economic Development Initiative Inc spend its money?
Westminster Economic Development Initiative Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Westminster Economic Development Initiative Inc tax-deductible?
Westminster Economic Development Initiative Inc is registered as a tax-exempt nonprofit (EIN: 204230463). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Westminster Economic Development Initiative Inc CEO make?
Westminster Economic Development Initiative Inc's highest-compensated officer earns $12 annually. The organization reported $2.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Westminster Economic Development Initiative Inc's spending goes to programs?
Westminster Economic Development Initiative Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Westminster Economic Development Initiative Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Westminster Economic Development Initiative Inc is above average for NTEE category S30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Westminster Economic Development Initiative Inc located?
Westminster Economic Development Initiative Inc is headquartered in Buffalo, New York and files with the IRS under EIN 204230463. It is classified under NTEE code S30.
How many years of IRS 990 filings does Westminster Economic Development Initiative Inc have?
Westminster Economic Development Initiative Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.2M in total revenue.
How does WEDI manage to operate without officer compensation?
The filings consistently show 0% officer compensation, which is highly unusual for an organization of WEDI's scale. This could imply that executive leadership is compensated through other means not classified as 'officer compensation' on the 990, or that leadership roles are filled by volunteers or staff whose compensation is categorized differently (e.g., program staff).
What is driving WEDI's significant revenue growth in recent years?
WEDI's revenue surged from $2,118,673 in 2020 to $6,918,706 in 2023. This substantial increase suggests successful grant applications, major donor contributions, or expansion of revenue-generating programs, indicating strong financial support for their initiatives.
Is WEDI financially stable given its asset and liability trends?
WEDI appears financially stable. Its assets have consistently grown, reaching $12,601,013 in 2023, while liabilities, though fluctuating, are well-covered by assets. For example, in 2023, liabilities were $2,551,962 against assets of $12,601,013, demonstrating a healthy balance sheet.
Filing History
IRS 990 filing history for Westminster Economic Development Initiative Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Westminster Economic Development Initiative Inc's revenue has grown by 7944.7%, moving from $86K to $6.9M. Total assets increased by 4414.8% over the same period, from $279K to $12.6M. Total functional expenses rose by 2463.8%, from $96K to $2.5M. In its most recent filing year (2023), Westminster Economic Development Initiative Inc reported a surplus of $4.4M, with revenue exceeding expenses. The organization holds $2.6M in liabilities against $12.6M in assets (debt-to-asset ratio: 20.3%), resulting in net assets of $10.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.9M | $2.5M | $12.6M | $2.6M | — | — |
| 2022 | $3.2M | $2.3M | $10.4M | $4.8M | — | View 990 |
| 2021 | $4.8M | $2.1M | $5.3M | $880K | — | View 990 |
| 2020 | $2.1M | $1.8M | $2.6M | $956K | — | View 990 |
| 2019 | $1.7M | $1.6M | $2.4M | $1.1M | — | View 990 |
| 2018 | $1.3M | $990K | $2.0M | $841K | — | View 990 |
| 2017 | $1.1M | $754K | $1.7M | $884K | — | View 990 |
| 2016 | $659K | $539K | $1.0M | $522K | — | View 990 |
| 2015 | $335K | $465K | $473K | $75K | — | View 990 |
| 2014 | $538K | $331K | $576K | $53K | — | View 990 |
| 2013 | $141K | $158K | $312K | $1K | — | View 990 |
| 2012 | $163K | $109K | $337K | $9K | — | View 990 |
| 2011 | $86K | $96K | $279K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.9M, expenses of $2.5M, and assets of $12.6M (revenue +113.1% year-over-year).
- 2022: Revenue of $3.2M, expenses of $2.3M, and assets of $10.4M (revenue -32.7% year-over-year).
- 2021: Revenue of $4.8M, expenses of $2.1M, and assets of $5.3M (revenue +127.7% year-over-year).
- 2020: Revenue of $2.1M, expenses of $1.8M, and assets of $2.6M (revenue +23.5% year-over-year).
- 2019: Revenue of $1.7M, expenses of $1.6M, and assets of $2.4M (revenue +30.7% year-over-year).
- 2018: Revenue of $1.3M, expenses of $990K, and assets of $2.0M (revenue +19.9% year-over-year).
- 2017: Revenue of $1.1M, expenses of $754K, and assets of $1.7M (revenue +66.1% year-over-year).
- 2016: Revenue of $659K, expenses of $539K, and assets of $1.0M (revenue +96.6% year-over-year).
- 2015: Revenue of $335K, expenses of $465K, and assets of $473K (revenue -37.7% year-over-year).
- 2014: Revenue of $538K, expenses of $331K, and assets of $576K (revenue +282.5% year-over-year).
- 2013: Revenue of $141K, expenses of $158K, and assets of $312K (revenue -13.8% year-over-year).
- 2012: Revenue of $163K, expenses of $109K, and assets of $337K (revenue +89.8% year-over-year).
- 2011: Revenue of $86K, expenses of $96K, and assets of $279K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Westminster Economic Development Initiative Inc:
Data Sources and Methodology
This transparency report for Westminster Economic Development Initiative Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.