Washington Dc Economic Partnership
- Assets
- $2.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 19
- Location
- Washington, DC
- Founding
- 11/2001
- Data as of
- 09/2020
- EIN
- 31-1795776
Organization Overview
Washington Dc Economic Partnership, operating under the name Wdcep, is located in Washington, DC. The organization was established in 2001. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Wdcep employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wdcep is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2020, Wdcep generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $3.3m during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE WASHINGTON, DC ECONOMIC PARTNERSHIP IS A PUBLIC-PRIVATE ORGANIZATION DEDICATED TO EXPANDING COMMERCE IN THE DISTRICT OF COLUMBIA. THE PARTNERSHIP IS AT THE FOREFRONT OF ATTRACTING NEW BUSINESS AND PROVIDING SERVICES TO GROWTH COMPANIES WITHIN THE DISTRICT. IT IS THE RECOGNIZED LEADER IN FORGING BUSINESS RELATIONSHIPS AMONG CORPORATE, CIVIC AND GOVERNMENT SECTORS THAT STRENGTHEN THE ECONOMIC VITALITY OF WASHINGTON, DC. ITS 501(C)(3) STRUCTURE EMPOWERS THE PARTNERSHIP TO COLLABORATE WITH ALL CONSTITUENT FACTORS IMPACTING SITE SELECTION, JOB CREATION AND COMMUNITY DEVELOPMENT AND IS PARTICULARLY COMMITTED TO IMPROVING UNDERSERVED AND EMERGING NEIGHBORHOODS. THROUGH ITS BEST-IN-CLASS RESEARCH AND MARKETING CAPABILITIES, THE WASHINGTON, DC ECONOMIC PARTNERSHIP FACILITATES GROWTH OPPORTUNITIES BY SHOWCASING INNOVATIVE COMMUNITIES, MENTORING TECHNOLOGY STARTUPS AND BRINGING TOGETHER THE INTERESTS OF RETAIL, MIXED-USE, PROFESSIONAL SERVICES AND COMMERCIAL DEVELOPMENT TO WASHINGTON, DC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT: THE BUSINESS DEVELOPMENT PROGRAM ENDEAVORS TO FACILITATE BUSINESS DEVELOPMENT, ATTRACTION, EXPANSION, AND RETENTION IN THE DISTRICT'S CORE ECONOMIES. THE DC DOING BUSINESS GUIDE COVERS INFORMATION ESSENTIAL TO RELOCATING, STARTING, AND EXPANDING A BUSINESS INTO WASHINGTON, DC. THE DC NEIGHBORHOOD PROFILE IS A COMPREHENSIVE TOOL FOR ENTREPENEURS AS A WAY TO DISCOVER OPPORTUNITIES TO START AND EXPAND THEIR CONCEPTS IN WASHINGTON, DC. THE DC BUSINESS CHAT SPEAKERS SERIES IS A PROGRAM OF WDCEP TO SUPPORT ITS SMALL BUSINESS AND ENTREPRENEURSHIP INITIATIVE, ALLOWING ACCESS TO INDUSTRY LEADERS IN THE CITY AND NETWORKING OPPORTUNITIES WITH PANELISTS AND OTHER ATTENDEES.
MARKETING & PR: THE PARTNERSHIP STRIVES TO REPOSITION THE DISTRICT'S IMAGE THROUGH PUBLIC RELATIONS CAMPAIGNS THAT REACH LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL MARKETS. THIS ALSO INCLUDE A YEAR-ROUND MARKETING CAMPAIGN AND SYSTEM OF OUTREACH MATERIALS TO PROMOTE WASHINGTON, DC'S BUSINESS ENVIRONMENT.
SPECIAL EVENTS: THE PARTNERSHIP UTILIZES SPECIAL EVENTS AND EXPOSITIONS TO PROMOTE THE DISTRICT OF COLUMBIA'S INCENTIVES, DEVELOPMENT VISIONS, AND TO SERVE AS AN INFORMATION OUTREACH PROGRAM TO THE COMMUNITY. SPECIAL EVENTS ALSO GIVE THE PARTNERSHIP AN OPPORTUNITY TO SEEK CORPORATE SPONSORSHIPS AND PARTNERSHIPS. SINCE 2001, WDCEP'S ANNUAL MEETING AND DEVELOPMENT SHOWCASE HAS BEEN THE PREMIER GATHERING OF DC'S TOP BUSINESS AND COMMUNITY LEADERS TO CELEBRATE THE WASHINGTON, DC'S VIBRANT ECONOMY. WDCEP INVITES BUSINESS AND REAL ESTATE LEADERS ENTREPRENEURS, IDEA GENERATORS, DEVELOPERS, AND INVESTORS TO ATTEND THE ANNUAL MEETING AND DEVELOPMENT SHOWCASE.
RESEARCH & INFO SYSTEMS: IN CONJUNCTION WITH THE DC DEVELOPMENT REPORT, WDCEP OFFERS AN INTERACTIVE DEVELOPMENT SEARCH AT SEARCH.WDCEP.COM. THIS TOOL ALLOWS USERS TO SEARCH NEARLY 1,600 DEVELOPMENT PROJECTS THAT HAVE BEEN COMPLETED IN WASHINGTON, DC SINCE 2001, UNDER CONSTRUCTION, OR IN THE PIPELINE. IN ORDER TO HELP NATIONAL AND LOCAL RETAILERS AND RESTAURANTS FIND SPACE IN DC, WDCEP, IN COORDINATION WITH THE OFFICE OF THE CHIEF TECHNOLOGY OFFICER, CREATED AN ONLINE SEARCH TOOL CALLED RETAIL SITE SEARCH. THIS INTERACTIVE SEARCH ALLOWS BUSINESSES TO QUERY NEARLY 500 RETAIL OPPORTUNITIES BY SIZE, NEIGHBORHOOD, TIMEFRAME, AND ADDRESS OR INTERSECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Sellars President & | OfficerTrustee | 40 | $198,491 |
Chad Shuskey Senior VP Pr | 40 | $133,184 | |
Derek Ford Senior VP Ne | 40 | $119,225 | |
Donna Cooper Co-Chair | OfficerTrustee | 1 | $0 |
John Falcicchio Co-Chair | OfficerTrustee | 1 | $0 |
Omar Mcintosh Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New Era Ventures Consulting | 9/29/21 | $200,000 |
The Brand Guild Marketing Camp. | 9/29/21 | $174,673 |
Mtb Enterprises Consulting | 9/29/21 | $302,500 |
Golden Triangle Bid Est. Innov Dist | 9/29/21 | $150,000 |
Hr&a Advisors Inc Development | 9/29/21 | $342,940 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,404,651 |
| Investment income | $1,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,068,636 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $223,691 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $939,851 |
| Pension plan accruals and contributions | $30,366 |
| Other employee benefits | $87,139 |
| Payroll taxes | $95,035 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,531 |
| Fees for services: Accounting | $82,628 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $382,451 |
| Advertising and promotion | $84,632 |
| Office expenses | $116,109 |
| Information technology | $145,797 |
| Royalties | $0 |
| Occupancy | $382,482 |
| Travel | $241,652 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $314,608 |
| Interest | $2,525 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,485 |
| Insurance | $14,543 |
| All other expenses | $0 |
| Total functional expenses | $3,331,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $981,491 |
| Savings and temporary cash investments | $216,830 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $346,148 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $95,393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,408,319 |
| Accounts payable and accrued expenses | $406,361 |
| Grants payable | $0 |
| Deferred revenue | $986,463 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $209,300 |
| Other liabilities | $582,110 |
| Total liabilities | $2,184,234 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $224,085 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Washington Dc Economic Partnership has recieved totaling $50,000.
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |
National Skills Coalition Washington, DC | $13,426,049 | $8,828,304 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Salisbury Wicomico Economic Development Inc Salisbury, MD | $1,249,911 | $5,424,669 |
Tri-County Council For Southern Maryland Hughesville, MD | $3,701,278 | $4,380,488 |
Alexandria Convention And Visitors Association Inc Alexandria, VA | $744,565 | $3,884,098 |
Hampton Roads Economic Development Alliance Norfolk, VA | $4,122,075 | $4,031,039 |
Roanoke Valley Convention And Vis- Itors Bureau Roanoke, VA | $3,438,389 | $4,197,074 |
Center For Regional Economic Competitiveness Arlington, VA | $2,322,711 | $4,691,900 |
Washington Dc Economic Partnership Washington, DC | $2,408,319 | $3,068,636 |