Westbrook Development Corporation
- Assets
- $4.2m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Westbrook, ME
- Founding
- 06/1988
- Data as of
- 12/2021
- EIN
- 01-0434709
Organization Overview
Westbrook Development Corporation is located in Westbrook, ME. The organization was established in 1988. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westbrook Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Westbrook Development Corporation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 51.9% each year . All expenses for the organization totaled $455.5k during the year ending 12/2021. While expenses have increased by 39.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rene' Daniel Chairperson | 1 | $0 | |
Gary Sanborn Director | 1 | $0 | |
Peter Plummer Director | 1 | $0 | |
Lewis Emery Director | 1 | $0 | |
Robert Scott Director | 1 | $0 | |
Christopher Laroche Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $21,904 |
| Interest on Savings | $8 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,268,301 |
| Total Revenue | $1,290,213 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $136,929 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25,292 |
| Total operating and administrative expenses | $455,492 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $455,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,239,593 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $16,000 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,887 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,956,319 |
| Total assets | $4,213,799 |
| Accounts payable and accrued expenses | $156 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $196,352 |
| Total liabilities | $196,508 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Crossroads Inc Atkinson, NH | $8,920,461 | $38,376,189 |
York County Shelter Programs Inc Alfred, ME | $7,515,033 | $5,469,246 |
Our Katahdin Millinocket, ME | $1,421,809 | $1,815,951 |
Portland Housing Development Corporation Portland, ME | $5,328,711 | $2,757,076 |
Northern Aroostook Alternatives Inc Van Buren, ME | $1,275,126 | $1,273,850 |
Downtown Improvement District Inc Portland, ME | $317,810 | $1,068,998 |
Capital Regional Development Council Concord, NH | $14,984,194 | $977,983 |
Harbor House Community Service Center Southwest Harbor, ME | $2,151,335 | $1,095,406 |
Granite State Organizing Project Manchester, NH | $626,444 | $1,199,163 |
Southern Maine Finance Agency Biddeford, ME | $7,727,125 | $658,421 |
Belknap County Economic Development Council Inc Laconia, NH | $5,665,349 | $1,533,067 |
Kennebunkport Heritage Housing Trust 2 Kennebunkport, ME | $281,718 | $538,218 |