2023-10-16T11:55:36-04:00 2022-12-31 264156406 WADOVICK & COMPANY 1300 DIVISION RD STE 104 WEST WARWICK RI 02893 990 2022-01-01 201727883 NEW GARDEN PARK INC NEWG 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087555734 2023-06-27 true CRAIG BLAIS XXX-XX-XXXX true JEFFREY D WADOVICK CPA P01204328 4018234004 2023-07-18 X 2022 2023-04-26 12:10:37Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1735714 false X N/A X 2004 MA TO CARRY OUT AND OPERATE FOR THE BENEFIT OF THE CHARITABLE PURPOSE OF THE WORCESTER BUSINESS DEVELOPMENT CORPORATION (WBDC) AND LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE IN DISTRESSED AREAS THROUGH THE ACQUISTION, HOLDING, OWNING, MAINTENANCE, IMPROVEMENT, LEASE, FINANCE, REFINANCE, SELLING, EXCHANGE OR OTHER DISPOSITION OF ALL OR PART OF ITS PROPERTIES. 7 6 0 0 20506877 361625 375818 0 977233 136831 76203 21019526 1415061 0 0 0 0 0 2580351 869996 2580351 869996 18439175 545065 35860729 37046113 10693237 11333556 25167492 25712557 X TO CARRY OUT AND OPERATE FOR THE BENEFIT OF THE CHARITABLE PURPOSE OF THE WORCESTER BUSINESS DEVELOPMENT CORPORATION (WBDC) AND LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE IN DISTRESSED AREAS THROUGH THE ACQUISTION, HOLDING, OWNING, MAINTENANCE, IMPROVEMENT, LEASE, FINANCE, REFINANCE, SELLING, EXCHANGE OR OTHER DISPOSITION OF ALL OR PART OF ITS PROPERTIES. false false 858568 TO LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE IN DISTRESSED AREAS. 858568 true false false false false false false false false false false false true true true true false true false false false false false false false false false false false false false false false false false false false false false false false false false true true true false false true 9 0 true 0 false false false false false false false false X 7 6 false false false false false false false true true false false true true true true true true false false false MA X X KATHLEEN KELLEHER CPA (CFO) 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 X CRAIG L BLAIS PRESIDENT & 20.00 20.00 X X 0 0 0 JILL DAGILIS CHAIR 1.00 X X 0 0 0 TODD RODMAN VICE CHAIR 1.00 X X 0 0 0 TROY SIEBELS TREASURER 1.00 X X 0 0 0 KAREN DUFFY CLERK 1.00 X X 0 0 0 ALICIA O'CONNELL-RODGERS DIRECTOR 1.00 X 0 0 0 KATHERINE BADGIS DIRECTOR 1.00 X 0 0 0 false false false FLETCHER TILTON 370 MAIN STREET 12TH FLOOR WORCESTER MA 01608 LEGAL 100175 1 361625 361625 699056 699056 396856 320653 76203 76203 76203 278177 278177 278177 278177 1415061 1053436 X 20850 14282 6568 100000 100000 1429 986 443 159607 159607 9024 4607 4417 PROJECT DEVELOPMENT COSTS 369387 369387 LOSS ON INVESTMENT 209699 209699 869996 858568 11428 0 788950 1086738 385290 1061245 24558522 24558522 2087 2010 5771851 5562152 4354029 4775446 35860729 37046113 307081 363461 59612 952693 541660 55440 9784884 9961962 10693237 11333556 X 25167492 25712557 25167492 25712557 35860729 37046113 X 545065 X true X true X true false X X X 1 WORCESTER BUSINESS DEVELOPMENT CORPORATION 042381829 10 true 0 0 1 0 true false true false false false false false false false false false false false false false false true false PROGRAM RELATED INVESTMENTS 5562152 C 5562152 DEVELOPMENT COSTS 4775446 4775446 NOTES PAYABLE TO WBDC 9763286 DUE TO WBDC 176576 DEFERRED RENT PAYABLE - GAAP 22100 9961962 X SCHEDULE D, PAGE 3, PART X NEW GARDEN PARK, INC. (NGP) FOLLOWS THE STANDARDS FOR ACCOUNTING FOR UNCERTAINTY FOR INCOME TAXES, WHICH REQUIRES NGP TO REPORT ANY UNCERTAIN TAX POSITIONS AND TO ADJUST ITS COMBINING FINANCIAL STATEMENTS FOR THE IMPACT THEREOF. FOR THE YEAR ENDED, NGP DETERMINED THAT IT HAD NO TAX POSITIONS THAT MEET THE "MORE LIKELY THAN NOT" THRESHOLD OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. NGP FILES TAX AND INFORMATIONAL RETURNS IN THE UNITED STATES FEDERAL AND MASSACHUSETTS STATE JURISDICTIONS. THESE RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR THREE YEARS. FORM 990 - ORGANIZATION'S MISSION TO CARRY OUT AND OPERATE FOR THE BENEFIT OF THE CHARITABLE PURPOSE OF THE WORCESTER BUSINESS DEVELOPMENT CORPORATION (WBDC) AND LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE IN DISTRESSED AREAS THROUGH THE ACQUISTION, HOLDING, OWNING, MAINTENANCE, IMPROVEMENT, LEASE, FINANCE, REFINANCE, SELLING, EXCHANGE OR OTHER DISPOSITION OF ALL OR PART OF ITS PROPERTIES. FORM 990, PAGE 6, PART VI, LINE 11B ALL INDIVIDUALS ON THE ORGANIZATION'S BOARD OF DIRECTORS, AS WELL AS, MANAGMENT REVIEWS AND FOLLOWS UP REGARDING CHANGES OR INQUIRES. FORM 990, PAGE 6, PART VI, LINE 12C EVERY MEMBER OF THE BOARD OF DIRECTORS SIGNS A WRITTEN CONFLICT OF INTEREST POLICY EVERY YEAR. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROPERTY MANAGEMENT FEES 100,000 0 0 FORM 990, PART XI, LINE 9 GAAP LEASE ADJUSTMENT - BOOK TO TAX 0 WORCESTER BUSINESS DEVELOPMENT CORP 89 SHREWSBURY STREET WORCESTER MA 01604 042381829 DEVELOPMEN MA 501C4 7 N/A false 20 FRANKLIN QALICB CORPORATION 89 SHREWSBURY STREET WORCESTER MA 01604 800957186 RENTAL MA NEW GARDEN PARK INC C CORP -272182 20698116 1.00000 false false false false true true false false false false false true false true false true false false true false WORCESTER BUSINESS DEVELOPMENT CORP E 9763286 LOAN AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORP M 100000 SERVICE AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORP E 176576 COST INCURRED/SERVICE AGR 20 FRANKLIN QALICB CORPORATION K 317467 RENTAL AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORP P 159607 INTEREST EXPENSE ON LOANS WORCESTER BUSINESS DEVELOPMENT CORP O 856596 PAYROLL, TAXES & BENEFITS