Westminster Economic Development Initiative Inc
Wedi strenghtens communities through a continuum of educational and financial resources for all western new yorkers.
Key facts about Westminster Economic Development Initiative Inc
- EIN
- 20-4230463
- Latest 990 filing
- Form 990, 2024
- Total assets
- $11,712,530
Data from IRS Form 990, 2024; updated October 2026.
Financial Overview
From 2024 IRS Form 990 · View filing
Total Assets
$11.7M
-7.1% YoY
Revenue
$2.2M
-68.6% YoY
Net Investment Income
$-11,210
-145.3% YoY
Expenses
$2.2M
-11.7% YoY
About Westminster Economic Development Initiative Inc
Based on IRS filings
Westminster Economic Development Initiative Inc is a public charity focused on Community Improvement & Capacity Building, based in Buffalo, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $11.7M in total assets.
Focus Areas
Ready to take the next step with Westminster Economic Development Initiative Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2023, annual grant giving ranged from $2K (2023) to $7K (2022). In 2023 it reported $2K in grants paid, as a total without an itemized list.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grant Insights
How this funder distributes its grants
Grant Size Distribution
1 grant across all recorded years
The most common grant size was under $50K: 1 grant of 1 (100%).
Giving History
Grant recipients and amounts by year
No grants recorded for 2024.
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $11,712,530 | $12,601,013 | $10,403,298 |
| Revenue | $2,171,800 | $6,918,706 | $3,247,167 |
| Expenses | $2,183,617 | $2,473,537 | $2,295,731 |
| Net Investment Income | $-11,210 | $24,756 | $-21,906 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2022 (received by the IRS December 7, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 13, 2024)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
Westminster Economic Development Initiative Inc is led by Carolynn Welch, Executive Director on every filing since 2020; 1 of 17 officers listed in 2024 is compensated.
Officers on the 2024 filing
Carolynn Welch
Executive Director
On filings since 2020
40 hrs/week
$81K (2020) → $85K (2024)
Krista Schwartzott
Board Member & President
Vice President → Board Member & Vice President, 2022
Board Member & Vice President → Board Member & President, 2024
On filings since 2020
10 hrs/week
No compensation reported
Catherine March
Board Member
Director → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Gustavo Lima
Board Member
Director → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Joann K. Belliotti
Board Member
Director → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Luke Donigan
Board Member & Assistant Secretary
Assistant Secretary → Board Member & Assistant Secretary, 2022
On filings since 2020
1 hr/week
No compensation reported
Melanie Jaskolka
Board Member & Vice President
Director → Board Member & Secretary, 2022
Board Member & Secretary → Board Member & Vice President, 2024
On filings since 2020
10 hrs/week
No compensation reported
Michael Kenline
Board Member
Director → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Stephen Zenger
Board Member
President → Board Member & President, 2022
Board Member & President → Board Member, 2024
On filings since 2020
1 hr/week
No compensation reported
Zelalem Gemmeda
Board Member
Director → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Betsy Mitchell
Board Member
Director → Board Member, 2022
On filings since 2021
1 hr/week
No compensation reported
Katie O'Connor
Board Member
Director → Board Member, 2022
On filings since 2021
1 hr/week
No compensation reported
Mimi Steadman
Board Member & Secretary
Director → Board Member, 2022
Board Member → Board Member & Secretary, 2024
On filings since 2021
1 hr/week
No compensation reported
Concetta Ferguson
Board Member
Board Member & Treasurer → Board Member, 2023
On filings since 2022
1 hr/week
No compensation reported
Donna Genesky
Board Member
On filings since 2022
1 hr/week
No compensation reported
Christine Uwimbabazi
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Indu Dewan
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Former officers (9)
- Former: Louise Sano (2020–2023) — Board Member
- Former: Melissa Woods (2020–2023) — Board Member
- Former: India Dewan (2022–2023) — Board Member
- Former: Emily Oaks (2020–2022) — Board Member
- Former: Jonathan Wilcox (2020–2022) — Board Member
- Former: Michael Knapp (2020–2021) — Director
- Former: Cameron Airhart (2021) — Director
- Former: Herb Courtney (2021) — Director
- Former: Nadine Yousef (2021) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $85K, to Carolynn Welch (Executive Director).
Frequently asked questions about Westminster Economic Development Initiative Inc
How large is Westminster Economic Development Initiative Inc?
Westminster Economic Development Initiative Inc reported $11.7M in total assets on its 2024 IRS Form 990. Its revenue that year was $2.2M.
What is Westminster Economic Development Initiative Inc?
Westminster Economic Development Initiative Inc is a public charity focused on Community Improvement & Capacity Building, based in Buffalo, NY. It holds $11.7M in total assets as of 2024.
Where does Westminster Economic Development Initiative Inc operate?
Westminster Economic Development Initiative Inc has awarded grants in New York.
What is Westminster Economic Development Initiative Inc's EIN?
Westminster Economic Development Initiative Inc's EIN (Employer Identification Number) is 20-4230463. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990 filings.
Here's the math on researching Westminster Economic Development Initiative Inc by hand.
Explore Open Grants
Browse active grant opportunities in Westminster Economic Development Initiative Inc's focus areas in our free grants database
Similar Funders
Similar funders in New York
The Ford Foundation
New York, NY
The Ford Foundation funds organizations and initiatives working to reduce inequality and advance social justice, including work on civic engagement, civil rights, climate justice, disability rights, and technology and society. In 2024, its grants ranged from $45 to $15 million, with a median of $100,000, supporting work in the U.S. and internationally. It says most grants are identified by the foundation and it does not accept unsolicited proposals by mail, email, or phone; limited opportunities may be offered separately.
Assets
$17.5B
Grants
4,007
Total Given
$844.7M
The New York Community Trust
New York, NY
The New York Community Trust funds nonprofit programs in areas such as arts, education, health, the environment, workforce development, and youth development, including projects that improve services, build organizational capacity, or advance policy and systems change. Its competitive grants mainly serve New York City, Long Island, and Westchester, with some national and international environmental funding; the 2024 median grant was $20,000. The profile does not state whether it accepts unsolicited requests.
Assets
$3.5B
Grants
2,748
Total Given
$193.8M
The Simons Foundation Inc
New York, NY
The Simons Foundation funds research and public engagement in mathematics and the physical, life, autism, and neuroscience sciences. In 2024, it made 1,727 grants, with a median award of $72,000 and amounts ranging from $1,480 to $20 million, supporting organizations in the U.S. and internationally. It states that it funds only preselected charitable organizations and does not accept unsolicited requests.
Assets
$4.5B
Grants
1,727
Total Given
$272.0M
Local Initiatives Support Corporation
New York, NY
LISC funds affordable housing, community development, small businesses, and related efforts that strengthen inclusive communities, providing grants as well as loans, equity, and technical assistance across the country. Its 2024 grants had a median award of $40,000, though amounts varied widely. Application access is program-specific: for its Rhode Island child care facilities planning grants, applicants are instructed to consult program staff before submitting a request.
Assets
$1.6B
Grants
1,119
Total Given
$102.8M
Wellspring Philanthropic Fund Inc
New York, NY
Wellspring Philanthropic Fund supports human rights and social and economic justice, including work on climate, the environment, civic engagement, and Jewish causes, in the United States and internationally. Its 2024 grants had a median of $200,000, with amounts ranging from $500 to $9.75 million. It funds only preselected organizations and does not accept unsolicited requests; it plans to end grantmaking by the end of 2028.
Assets
$134.4M
Grants
1,101
Total Given
$326.0M
More Funders in New York
Westminster Economic Development Initiative Inc down — hundreds of funders to go?