Westmass Area Development Corp

Organization Overview

Westmass Area Development Corp is located in Springfield, MA. The organization was established in 1961. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Westmass Area Development Corp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SEE STATEMENT OTHE PURPOSES OF THE CORPORATION SHALL BE TO PROMOTE, STIMULATE, DEVELOP, AND ADVANCE THE BUSINESS PROSPERITY AND ECONOMIC WELFARE OF THE WESTERN MASSACHUSETTS REGION AND THE CITIZENS THEREOF; TO ENCOURAGE AND ASSIST, THROUGH LOANS, INVESTMENTS, OR OTHER BUSINESS TRANSACTIONS, THE LOCATION OF NEW BUSINESS AND INDUSTRY IN THE WESTERN MASSACHUSETTS REGION; TO REHABILITATE AND ASSIST EXISTING BUSINESS AND INDUSTRY; AND SO TO STIMULATE AND ASSIST IN THE EXPANSION OF ALL KINDS OF BUSINESS ACTIVITY WHICH WILL TEND TO PROMOTE THE BUSINESS DEVELOPMENT AND MAINTAIN THE ECONOMIC STABILITY OF THE WESTERN MASSACHUSETTS REGION, PROVIDE MAXIMUM OPPORTUNITIES FOR EMPLOYMENT, ENCOURAGE THRIFT, AND IMPROVE THE STANDARD OF LIVING OF ITS CITIZENS; AND SIMILARLY TO ENDEAVOR TO INCREASE AND DIVERSIFY INDUSTRY AND EMPLOYMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WESTMASS AREA DEVELOPMENT CORPORATION ADVANCES BUSINESS AND ECONOMIC PROSPERITY IN WESTERN MASSACHUSETTS THROUGH THE ACQUISITION, PERMITTING, AND DEVELOPMENT OF INDUSTRIAL AND BUSINESS RESOURCES. THESE RESOURCES INCLUDE INDUSTRIAL/BUSINESS PARKS AND COMPLEX AND COMPLICATED MILL/BROWNFIELD REDEVELOPMENT PROJECTS.


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Board, Officers & Key Employees

Name (title)Compensation
Tripp Peake
Treasurer
$0
Daniel Burack
Secretary
$0
Antonio Dos Santos
Chair
$0
Aj Crane
Vice Chair
$0
Jeffrey Daley
President
$0
Carol Campbell
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
American Environmental Inc
Environmental Remediation
$453,500
Economic Development Council Of Western
Management Services
$444,743
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $624,800
All other contributions, gifts, grants, and similar amounts not included above$15,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$639,800
Total Program Service Revenue$178,825
Investment income $33
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$473,602
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $1,433,896
Miscellaneous Revenue$0
Total Revenue $1,784,584

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Westmass Area Development Corp has recieved totaling $83,833.

Awarding OrganizationAmount
Economic Development Council Of Western Massachusetts Inc

Springfield, MA

PURPOSE: TO PROVIDE ECONOMIC SUPPORT.

$83,833
View Grant Recipient Profile

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