2016-05-16T07:25:06-05:00 2015-12-31 050512283 NADEAU WADOVICK LLP 875 CENTERVILLE ROAD WARWICK RI 02886 990 2015-01-01 201727883 NEW GARDEN PARK INC NEWG 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 5087555734 2016-05-09 1 JEFFREY D WADOVICK CPA P01204328 4018234004 X 2015 2016-09-27 15:27:22Z CRAIG L BLAIS 89 SHREWSBURY STREET WORCESTER MA 01604 1642724 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 1228379 331621 1682440 903591 0 0 603097 402629 3513916 1637841 0 0 0 0 0 0 0 0 0 1431081 1757592 1431081 1757592 2082835 -119751 24880957 25513441 22859043 23611278 2021914 1902163 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 1702827 1181732 TO LESSEN THE BURDENS OF GOVERNMENT BY COMBATING COMMUNITY DETERIORATION AND ENABLING ECONOMIC DEVELOPMENT BY PROVIDING INFRASTRUCTURE AND PARKING FACILITIES IN DISTRESSED AREAS. 1702827 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 10 0 1 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 JOYCE STEWART DIRECTOR OF FINANCE & LENDING 5087555734 89 SHREWSBURY STREET WORCESTER MA 01604 CRAIG L BLAIS PRESIDENT & CEO 20.00 20.00 X X 0 232720 46347 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 DIX F DAVIS DIRECTOR 1.00 X 0 0 0 0 232720 46347 0 0 1 0 0 301621 30000 331621 NOTE RECEIVABLE INTERE 900099 903591 903591 903591 115441 0 115441 115441 115441 13930 4883 9047 9047 REIMBURSEMENT 531390 250011 250011 MISCELLANEOUS 531390 28130 28130 278141 1637841 1181732 0 124488 48623 33306 15317 158368 158368 449 310 139 1100128 1100128 3165 1616 1549 RENT EXPENSE 194290 194290 LOSS ON INVESTMENT IN 2 161214 161214 MISCELLANEOUS 62760 25000 37760 WRITE OFF OF DEVELOPMEN 28595 28595 1757592 1702827 54765 0 455037 341863 4165 4167 500000 320000 772783 173400 21848009 20930969 249 1091 780970 3225553 519744 516398 24880957 25513441 221255 328893 17905000 16408358 4732788 6874027 22859043 23611278 X 1756914 1707132 265000 195031 2021914 1902163 24880957 25513441 -119751 0 X X 0 1 X 1 0 X X X 1 WORCESTER BUSINESS DEVELOPMENT CORPORATION 042381829 9 1 0 0 1 0 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. 3225553 C 3225553 DUE TO AFFILIATES 838350 NOTES PAYABLE TO WBDC 6035677 6874027 X 1637841 0 1637841 0 1637841 1757592 0 1757592 0 1757592 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, 2015, 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. 0 0 0 0 0 0 0 0 0 CRAIG L BLAIS PRESIDENT & CEO 0 218614 0 0 0 14106 0 32166 0 14181 0 279067 0 0 FORM 990, PART VI, SECTION B, LINE 11 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'S AUDIT AND FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS COMBINING FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANT. 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 1.00000 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 0 WORCESTER BUSINESS DEVELOPMENT CORPORATION E 6035677 LOAN AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORPORATION M 116667 SERVICE AGREEMENT WORCESTER BUSINESS DEVELOPMENT CORPORATION E 838350 COSTS INCURRED/SERVICE AGREEMENT 20 FRANKLIN MASTER TENANT LLC K 194290 RENTAL AGREEMENT 20 FRANKLIN MASTER TENANT LLC D 1065466 NOTE AGREEMENT