2018-07-02T08:00:56-05:00 2017-12-31 050512283 NADEAU WADOVICK LLP 1300 DIVISION ROAD SUITE 104 WEST WARWICK RI 02893 990 2017-01-01 201727883 NEW GARDEN PARK INC NEWG 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087555734 2018-06-22 1 JEFFREY D WADOVICK CPA P01204328 4018234004 X 2017 2022-09-23 18:48:47Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1765686 0 X N/A X 2004 MA TO LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE AND PARKING FACILITIES IN DISTRESSED AREAS. 7 6 0 0 0 0 656290 663159 888030 883604 14 0 162826 210294 1707160 1757057 0 0 0 0 0 0 0 0 0 2433979 2384443 2433979 2384443 -726819 -627386 26626434 27008064 25451090 26460106 1175344 547958 X TO CARRY OUT AND OPERATE FOR THE BENEFIT OF THE CHARITABLE PURPOSES 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. 0 0 2373294 883604 TO LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE AND PARKING FACILITIES IN DISTRESSED AREAS. 2373294 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 9 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X X KATHLEEN KELLEHER CPA (CFO) 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 X CRAIG L BLAIS PRESIDENT & CEO 20.00 20.00 X X 0 0 0 ANDREW B O'DONNELL CHAIR 1.00 1.00 X X 0 0 0 JEFFREY SWANBERG VICE CHAIR 1.00 X X 0 0 0 TROY SIEBELS TREASURER 1.00 X X 0 0 0 JOHN CREEDON JR CLERK 1.00 X X 0 0 0 KATHLEEN EICHELROTH DIRECTOR 1.00 X 0 0 0 KATHERINE BADGIS DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 663159 663159 NOTE RECEIVABLE INTERE 900099 883604 883604 883604 218923 8629 210294 210294 210294 1757057 883604 0 210294 9872 6762 3110 16001 10961 5040 134189 134189 852 588 264 911751 911751 5587 2852 2735 PROJECT DEVELOPMENT COS 590000 590000 LOSS ON INVESTMENT IN 2 355343 355343 RENT EXPENSE 273057 273057 IDEA LAB EXPENSES 87791 87791 2384443 2373294 11149 0 682029 480426 140000 70000 278592 203946 20201562 20201562 1591 4737 2869186 2513843 2453474 3533550 26626434 27008064 225527 3248 2674 50635 18039349 18572085 7183540 7834138 25451090 26460106 X 1035344 477958 140000 70000 1175344 547958 26626434 27008064 -627386 0 X X 0 1 X 1 0 X X X 1 WORCESTER BUSINESS DEVELOPMENT CORPORATION 042381829 10 1 48159 0 1 48159 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENT IN 20 FRANKLIN QALICB CORP. 2513843 C 2513843 DEVELOPMENT PROJECTS 3533550 3533550 DUE TO WBDC 1501154 NOTES PAYABLE TO WBDC 6318314 DEFERRED RENT PAYABLE - GAAP 12870 SECURITY DEPOSITS 1800 7834138 X 1761347 4290 4290 1757057 0 1757057 2384443 0 2384443 0 2384443 PART X, LINE 2: NEW GARDEN PARK, INC. (NGP) FOLLOWS THE STANDARDS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES NGP TO REPORT ANY UNCERTAIN TAX POSITIONS AND TO ADJUST IT'S COMBINING FINANCIAL STATEMENTS FOR THE IMPACT THEREOF. AS OF DECEMBER 31, 2017, NGP DETERMINED THAT IT HAD NO TAX POSITIONS THAT DID NOT MEET THE "MORE LIKELY THAN NOT" THRESHOLD OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. THE NGP FILES TAX AND INFORMATION RETURNS IN THE UNITED STATES FEDERAL AND MASSACHUSETTS STATE JURISDICTIONS. THESE RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR THE LAST THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAAP LEASE ADJUSTMENT - BOOK TO TAX FORM 990, PART VI, SECTION B, LINE 11B ALL INDIVIDUALS ON THE ORGANIZATION'S BOARD OF DIRECTORS REVIEWS AND FOLLOWS UP ON ALL CHANGES. FORM 990, PART VI, SECTION B, LINE 12C EVERY MEMBER OF THE BOARD OF DIRECTORS SIGNS A WRITTEN CONFLICT OF INTEREST POLICY EVERY YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE REVIEW OF ITS FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS. THIS PROCESS IS THE SAME AS PRIOR YEARS. WORCESTER BUSINESS DEVELOPMENT CORPORATION 89 SHREWSBURY STREET WORCESTER MA 01604 042381829 DEVELOP INFRASTRUCTURE AND PARKING TO FACILITATE LAND DEVELOPMENT MA 5019(C)(4) N/A 0 20 FRANKLIN MASTER TENANT LLC 89 SHREWSBURY STREET WORCESTER MA 01604 464185619 RENTAL REAL ESTATE MA WORCESTER BUSINESS DEVELOPMENT CORPORATION RELATED 0 0 20 FRANKLIN QALICB CORPORATION 89 SHREWSBURY STREET WORCESTER MA 01604 800957186 RENTAL REAL ESTATE MA NEW GARDEN PARK INC C -355343 2513843 1.00000 0 0 0 1 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 0 WORCESTER BUSINESS DEVELOPMENT CORPORATION E 6318314 LOAN AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORPORATION M 100000 SERVICE AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORPORATION E 1501154 COSTS INCURRED/SERVICE AGREEMENT 20 FRANKLIN MASTER TENANT LLC K 273057 RENTAL AGREEMENT 20 FRANKLIN MASTER TENANT LLC D 336059 NOTE AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORPORATION R 160380 INTEREST EXPENSE ON LOANS