Washington Dc Economic Partnership
- Assets
- $3.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Washington, DC
- Founding
- 11/2001
- Data as of
- 09/2023
- 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 09/2023, Wdcep employed 18 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 09/2023, Wdcep generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $4.1m during the year ending 09/2023. While expenses have increased by 1.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
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 ATTRACTION, RETENTION, & EXPANSION BUSINESS RETENTION, EXPANSION, AND ATTRACTION (BREA) ACTIVITIES ARE FOUNDATIONAL FOR SUCCESSFUL ECONOMIC DEVELOPMENT. WDCEP'S BREA PROGRAMMING SUPPORTS THE DISTRICT'S ECONOMIC DEVELOPMENT STRATEGY(S) BY DIRECTLY TARGETING SPECIFIC VISION AND GOALS SUCH AS CREATING NEW JOBS IN HIGH- GROWTH SECTORS, ELIMINATING KEY AMENITY GAPS ACROSS ALL NEIGHBORHOODS (E.G. RETAIL ATTRACTION), NURTURING HIGH-GROWTH SECTORS BY ATTRACTING INVESTMENT AND SUPPORTING INNOVATION CLUSTERS, AND SUPPORTING AN URBAN CENTER THAT IS A DESTINATION OF CHOICE FOR INNOVATORS, JOB CREATORS, AND VISITORS.
RETAIL DEVELOPMENT - EXPENSES ATTRIBUTED TO RETAIL DEVELOPMENT ARE INCURRED TO ATTRACT RETAILERS TO LOCATE IN WASHINGTON, DC'S DOWNTOWN COMMERCIAL DISTRICTS AND NEIGHBORHOOD AREAS.
MARKETING & PR WDCEP POSITIONS AND PROMOTES BUSINESS OPPORTUNITIES FOR THE PURPOSES OF ATTRACTING, RETAINING, AND EXPANDING BUSINESSES IN THE DISTRICT. THIS INCLUDES IMPLEMENTING A CONSISTENT, INTEGRATED MARKETING AND COMMUNICATIONS STRATEGY TO PROMOTE THE DISTRICT AS A PREMIER LOCATION TO DO BUSINESS AND GENERATE NEW BUSINESS ATTRACTION, RETENTION, AND EXPANSION LEADS. MARKETING EFFORTS SUPPORT THE DISTRICT'S ECONOMIC DEVELOPMENT STRATEGY(S) BY FOCUSING ON KEY "VISION THEMES" SUCH AS A DESTINATION OF CHOICE FOR INNOVATORS, JOB CREATORS, AND VISITORS; A PLACE WHERE PEOPLE CHOOSE TO LIVE, WORK, VISIT, AND THRIVE; AND THE DISTRICT'S VIBRANT NEIGHBORHOODS.
ECONOMIC & MARKET INTELLIGENCE WDCEP PROVIDES FREE FOUNDATIONAL ECONOMIC DATA TOOLS AND INTERACTIVE ONLINE CONTENT TO PROVIDE HIGH-QUALITY DATA AND ECONOMIC ANALYSIS TO THE LOCAL AND NATIONAL BUSINESS COMMUNITY. INTERACTIVE CONTENT (E.G. ECONOMIC DEVELOPMENT MAPS) PROVIDES CRITICAL INSIGHT AND ANALYSIS INTO VARIOUS BUSINESS RESOURCES AND ESSENTIAL INDUSTRIES TO ATTRACT, RETAIN, AND EXPAND BUSINESSES IN THE DISTRICT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Sellars President & | OfficerTrustee | 40 | $196,709 |
Chad Shuskey Interim Pres | OfficerTrustee | 40 | $157,594 |
Derek Ford President & | OfficerTrustee | 40 | $127,677 |
Prayas Neupane Business Dir | 40 | $116,559 | |
Jezaniah Kline Marketing Di | 40 | $110,497 | |
Jonathon Koudelka People & Ope | 40 | $107,803 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hickey Global Economic Development Consulting Consulting | 9/29/23 | $243,667 |
Sahara Las Vegas Lodging | 9/29/23 | $119,063 |
Elevation 3d Marketing | 9/29/23 | $110,353 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,672,453 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,697,453 |
| Total Program Service Revenue | $784,717 |
| Investment income | $76 |
| 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 | $4,500,363 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $354,303 |
| Compensation of current officers, directors, key employees. | $55,399 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,205,833 |
| Pension plan accruals and contributions | $58,104 |
| Other employee benefits | $161,527 |
| Payroll taxes | $119,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $140,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $339,795 |
| Advertising and promotion | $0 |
| Office expenses | $13,565 |
| Information technology | $261,112 |
| Royalties | $0 |
| Occupancy | $408,732 |
| Travel | $86,186 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $812,419 |
| Interest | $2,407 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,789 |
| Insurance | $30,693 |
| All other expenses | $0 |
| Total functional expenses | $4,144,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $856,965 |
| Savings and temporary cash investments | $32,156 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,000 |
| 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 | $78,941 |
| Net Land, buildings, and equipment | $540,049 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,909,692 |
| Other assets | $0 |
| Total assets | $3,445,803 |
| Accounts payable and accrued expenses | $240,222 |
| Grants payable | $0 |
| Deferred revenue | $249,855 |
| 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 | $0 |
| Other liabilities | $2,390,004 |
| Total liabilities | $2,880,081 |
| Net assets without donor restrictions | $565,722 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,445,803 |