Wilmington Renaissance Corporation
- Assets
- $2.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 9
- Location
- Wilmington, DE
- Founding
- 05/1994
- Data as of
- 12/2023
- EIN
- 51-0347680
Organization Overview
Wilmington Renaissance Corporation is located in Wilmington, DE. The organization was established in 1994. 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 12/2023, Wilmington Renaissance Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wilmington Renaissance Corporation 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 12/2023, Wilmington Renaissance Corporation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 14.0% 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
TO DEVELOP AND IMPLEMENT STRATEGIES THAT WILL INCREASE THE ECONOMIC VITALITY OF WILMINGTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ALLIANCE, LED BY THE CEO, WORKS TO MAKE WILMINGTON A MORE BEAUTIFUL, SAFER, AND THRIVING CITY THAT PROVIDES OPPORTUNITY FOR ALL THROUGH OUR THREE PILLARS: WORKFORCE DEVELOPMENT; ENTREPRENEURSHIP AND SMALL BUSINESS SUPPORT; AND CREATIVE PLACEMAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Markiewicz Board Chair | OfficerTrustee | 1 | $0 |
Dr Leroi Hicks Vice Chair | OfficerTrustee | 1 | $0 |
Joe Westcott Vice Chair | OfficerTrustee | 1 | $0 |
Trevor Koenig Treasurer | OfficerTrustee | 1 | $0 |
William J Mahoney Secretary | OfficerTrustee | 1 | $0 |
Stuart Comstock-Gay Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,108,113 |
| Noncash contributions included in lines 1a–1f | $5,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,108,113 |
| Total Program Service Revenue | $0 |
| Investment income | $67,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,263 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,625,689 |
| 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. | $167,111 |
| Compensation of current officers, directors, key employees. | $31,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $450,022 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $64,671 |
| Payroll taxes | $47,970 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $381,109 |
| Advertising and promotion | $18,139 |
| Office expenses | $12,389 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,352 |
| Travel | $27,639 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,489 |
| Interest | $8,638 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,611 |
| Insurance | $11,061 |
| All other expenses | $11,760 |
| Total functional expenses | $1,737,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,712,686 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $33,333 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,171,261 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,917,280 |
| Accounts payable and accrued expenses | $12,386 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| 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 | $123,992 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $161,378 |
| Net assets without donor restrictions | $2,304,021 |
| Net assets with donor restrictions | $451,881 |
| 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 | $2,917,280 |