WILMINGTON BUSINESS DEVELOPMENT

EIN: 560636999

WILMINGTON, NC

Total Revenue
$1,599,774
Total Expenses
$1,334,932
Total Assets
$2,193,055
Net Assets
$2,193,055
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
NC
Principal Officer
R SCOTT SATTERFIELD
Phone
9107638414
Tax Period
2023-07-01 to 2024-06-30

WILMINGTON BUSINESS DEVELOPMENT, founded in 1960, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. The organization ran a surplus of $265K, a strong 17% operating margin.

Mission

THE ORGANIZATION'S MISSION IS TO ENCOURAGE, SOLICIT, ADVERTISE AND PROMOTE THE LOCATION AND OPERATION OF INDUSTRIAL AND MANUFACTURING ESTABLISHMENTS WITHIN THE TRADE AREAS OF THE CITY OF WILMINGTON, AND NEW HANOVER AND PENDER COUNTIES, N.C.

Program Service Accomplishments

Program 1

WBD ACTIVELY ENGAGES IN ALLY, INVESTOR AND PARTNERSHIP DEVELOPMENT, OUTREACH AND EDUCATION THAT EFFECTIVELY PROMOTE AND IMPROVE THE REGION, ITS ECONOMIC ASSESTS, BUSINESS INTERESTS AND...

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WBD ACTIVELY ENGAGES IN ALLY, INVESTOR AND PARTNERSHIP DEVELOPMENT, OUTREACH AND EDUCATION THAT EFFECTIVELY PROMOTE AND IMPROVE THE REGION, ITS ECONOMIC ASSESTS, BUSINESS INTERESTS AND QUALITY-OF-LIFE. KEY INITIATIVES ARE ALLY, INVESTOR AND PARTNERSHIP DEVELOPMENT AND OUTREACH AND EDUCATION.

Program 2

WBD ENDEAVORS TO SUPPORT EXISTING BUSINESSES OF GREATER WILMINGTON AND THE JOBS THEY REPRESENT. KEY INITIATIVES ARE FEEDBACK & INTELLIGENCE GATHERING, LOCATION SERVICE DELIVERY, AND RESOURCE...

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WBD ENDEAVORS TO SUPPORT EXISTING BUSINESSES OF GREATER WILMINGTON AND THE JOBS THEY REPRESENT. KEY INITIATIVES ARE FEEDBACK & INTELLIGENCE GATHERING, LOCATION SERVICE DELIVERY, AND RESOURCE DEVELOPMENT AND COORDINATION.

Program 3

WBD AGGRESSIVELY DEPLOYS OUTREACH TOOLS IN SHOWCASING GREATER WILMINGTON AS A DESTINATION FOR HIGH-QUALITY ECONOMIC INVESTORS. KEY INITIATIVES ARE MARKET INTELLIGENCE, LEAD GENERATION & CLIENT...

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WBD AGGRESSIVELY DEPLOYS OUTREACH TOOLS IN SHOWCASING GREATER WILMINGTON AS A DESTINATION FOR HIGH-QUALITY ECONOMIC INVESTORS. KEY INITIATIVES ARE MARKET INTELLIGENCE, LEAD GENERATION & CLIENT DEVELOPMENT, PROJECT MANAGEMENT & TECHNICAL ASSISTANCE, AND INVOLVEMENT OF PUBLIC PARTNERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,510,330
Investment Income $58,330
Other Revenue $31,114
TOTAL REVENUE $1,599,774

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,106,713
Fundraising Expenses $0
Other Expenses $228,219
TOTAL EXPENSES $1,334,932

Year-over-Year Comparison

2023 2022 Change
Revenue $1,599,774 $1,504,050 +0.1%
Expenses $1,334,932 $1,309,977 +0.0%
Net Income $264,842 $194,073 +0.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
13
Employees
5
Volunteers
13

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$581,328
Total Directors
14
$581,328
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
R SCOTT SATTERFIELD CEO/SECRETARY 40.00
Officer Director
$538,050 $43,278 $581,328
FRED SAMZ CHAIRMAN 0.20
Director
$0 $0 $0
TIM MILAM VICE CHAIRMAN 0.20
Director
$0 $0 $0
MICHAEL MCWHORTER TREASURER 0.20
Director
$0 $0 $0
WILMA DANIELS DIRECTOR 0.20
Director
$0 $0 $0
DAVID HONEYCUTT DIRECTOR 0.20
Director
$0 $0 $0
BILL KING DIRECTOR 0.20
Director
$0 $0 $0
MICHAEL YOUNGBLOOD DIRECTOR 0.20
Director
$0 $0 $0
JEFF ROOKS DIRECTOR 0.20
Director
$0 $0 $0
JAY MCGRADY DIRECTOR 0.20
Director
$0 $0 $0
BILL RIVENBARK EX-OFFICIO DIRECTOR 0.20
Director
$0 $0 $0
BILL SAFFO EX-OFFICIO DIRECTOR 0.20
Director
$0 $0 $0
BRAD GEORGE EX-OFFICIO DIRECTOR 0.20
Director
$0 $0 $0
LISA LEITH EX-OFFICIO DIRECTOR 0.20
Director
$0 $0 $0
CLIFF PYRON JR DIRECTOR OF BUSINESS DEVEL 40.00
Highest
$187,928 $18,102 $206,030
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $1,599,774 $1,334,932 $2,193,055 $264,842
2023 $1,504,050 $1,309,977 $1,928,213 $194,073
2022 $1,342,071 $1,096,657 $1,640,676 $245,414
2021 $1,081,122 $986,306 $1,358,209 $94,816
2020 $1,079,262 $1,070,537 $1,125,393 $8,725
2019 $1,109,713 $1,102,852 $1,037,684 $6,861
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