West Community Economic Development Corporation
- Assets
- $2.4m
- Revenue
- $847.3k
- Investments
- $0.0
- Employees
- 11
- Location
- Denver, CO
- Founding
- 02/1991
- Data as of
- 12/2021
- EIN
- 84-1135942
Organization Overview
West Community Economic Development Corporation, operating under the name Bucu West Development Center, is located in Denver, CO. The organization was established in 1991. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Bucu West Development Center employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bucu West Development Center 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 12/2021, Bucu West Development Center generated $847.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.2% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 32.6% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A DESTINATION THAT PROMOTES AND SUPPORTS ENTREPRENEURS, SMALL BUSINESS, CULTURAL ORGANIZATIONS AND RESIDENTS IN AN AUTHENTIC, ENERGETIC AND ENERGETIC AND COLORFUL ENVIRONMENT.
Describe the Organization's Program Activity:
SMALL BUSINESS SUPPORT, NEIGHBORHOOD REVITALIZATION, ECONOMIC DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Esparza Executive Director | Officer | 40 | $97,346 |
Aaron Elinoff President | OfficerTrustee | 1 | $0 |
Nestor Castillo Treasurer | OfficerTrustee | 1 | $0 |
Christina Contreras Vice President/secretary | OfficerTrustee | 1 | $0 |
Nicole Martinez Member At Large | Trustee | 1 | $0 |
Tom Fazio Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $229,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $784,064 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,013,664 |
| Total Program Service Revenue | $171,447 |
| Investment income | $1,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$37,391 |
| 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 | $847,271 |
| 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. | $97,346 |
| Compensation of current officers, directors, key employees. | $97,346 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $250,133 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,324 |
| Payroll taxes | $25,627 |
| Fees for services: Management | $25,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,793 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,285 |
| Fees for services: Other | $0 |
| Advertising and promotion | $23,946 |
| Office expenses | $8,864 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,335 |
| Travel | $2,545 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,354 |
| Interest | $31,633 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,268 |
| Insurance | $1,486 |
| All other expenses | $28,681 |
| Total functional expenses | $1,317,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,983 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,521 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,101,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,271 |
| Total assets | $2,372,449 |
| Accounts payable and accrued expenses | $10,522 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,179,079 |
| Total liabilities | $2,189,601 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $182,848 |
| Total liabilities and net assets/fund balances | $2,372,449 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that West Community Economic Development Corporation has recieved totaling $215,000.
| Awarding Organization | Amount |
|---|---|
Gates Family Foundation Denver, CO PURPOSE: RENOVATION | $50,000 |
Denver Foundation Denver, CO PURPOSE: WEST DENVER COMMUNITY CONNECTORS | $40,000 |
Latino Community Foundation Of Colorado Inc Denver, CO PURPOSE: GENERAL OPERATING | $27,500 |
Bloomberg Family Foundation Inc New York, NY PURPOSE: ASPHALT ART INITIATIVE FOR THE CITY OF DENVER, CO | $25,000 |
Gates Family Foundation Denver, CO PURPOSE: PROJECT SUPPORT | $20,000 |
Bonfils-Stanton Foundation Denver, CO PURPOSE: GENERAL OPERATING TO SUPPORT THE ARTISTIC PROGRAMS OF D3 ARTS | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colorado Enterprise Fund Inc Denver, CO | $82,518,626 | $21,255,608 |
Rocky Mountain Community Reinvestment Corporation Salt Lake City, UT | $241,166,960 | $12,007,635 |
Local First Arizona Foundation Phoenix, AZ | $3,232,104 | $5,988,087 |
Business Development Finance Corporation Tucson, AZ | $22,193,625 | $4,107,444 |
Phoenix Community Development And Investment Corporation Phoenix, AZ | $40,907,790 | $6,695,939 |
Metafund Corporation Edmond, OK | $30,699,805 | $2,775,325 |
Sfs Development Inc Oklahoma City, OK | $22,888,253 | $6,807,080 |
Enterprise Center Of Johnson County Overland Park, KS | $1,026,412 | $1,656,304 |
Preferred Lending Partners Denver, CO | $1,354,948 | $1,342,208 |
Belay Enterprises Inc Aurora, CO | $3,858,910 | $1,974,052 |
West Community Economic Development Corporation Denver, CO | $2,372,449 | $847,271 |
Duncan Area Economic Development Foundation Duncan, OK | $17,794,309 | $1,169,335 |