WORCESTER EDUCATIONAL DEVELOPMENT FOUNDA

EIN: 562522670 501(c)(3) Education

WORCESTER, MA

Total Revenue
$438,392
Total Expenses
$657,119
Total Assets
$438,744
Net Assets
$385,863
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
MA
Principal Officer
FRANCES ARENA
Phone
7743890740
Tax Period
2022-07-01 to 2023-06-30

WORCESTER EDUCATIONAL DEVELOPMENT FOUNDA, founded in 2005, is a small nonprofit in the Education sector that reported $438K in total revenue in fiscal year 2022. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $657K exceeded revenue, resulting in a 50% operating deficit.

Mission

TO COLLABORATE WITH THE WORCESTER PUBLIC SCHOOLS TO PROVIDE PROGRAMS AND RESOURCES TO IMPROVE LEARNING AND SUCCESS FOR STUDENTS. WE ARE WORKING TO ELIMINATE BARRIERS TO STUDENTS REACHING THEIR FULL ACADEMIC POTENTIAL BY SUPPORTING RICH OPPORTUNITIES FOR STUDENTS INCLUDING ARTS AND CULTURE, ATHLETICS, AND HEALTH AND WELLNESS.

Program Service Accomplishments

Program 1
Expenses: $251,567 Revenue: $139

CULTURE AND ARTS PROGRAMS INCLUDING STUDENT CONCERTS AND OTHER SUPPORTS OF ARTS AND MUSIC PROGRAMS. CURRICULUM-BASED FIELD TRIPS FOR 20,000+ STUDENTS.

Program 2
Expenses: $225,709

SCIENCE AND TECHNOLOGY PROGRAMS INCLUDES PROCURE EQUIPMENT FOR VOCATIONAL PROGRAMS AT THE WORCESTER TECHNICAL HIGH SCHOOL AND PROVIDE COMPUTERS FOR GRADUATING SENIORS THROUGH CONNECTED SCHOLARS.

Program 3
Expenses: $48,916

COLLEGE/CAREER READINESS PROGRAMS INCLUDING EDUCATIONAL PROGRAMS, MATERIALS & SUPPLIES AND SCHOLARSHIPS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $410,911
Program Service Revenue $0
Investment Income $5,424
Other Revenue $22,057
TOTAL REVENUE $438,392

Expense Breakdown

Grants Paid $17,565
Salaries & Benefits $32,677
Fundraising Expenses $16,614
Program Expenses $558,814
Other Expenses $606,877
TOTAL EXPENSES $657,119

Year-over-Year Comparison

2022 2021 Change
Revenue $438,392 $797,236 -0.5%
Expenses $657,119 $577,595 +0.1%
Net Income $-218,727 $219,641 -2.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
16
Independent Members
16
Employees
1
Volunteers
N/A

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
5
$18,575
Total Directors
16
$18,575
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN MILLS PRESIDENT 5.00
Officer Director
$0 $0 $0
TONY ECONOMOU VICE PRESIDENT 2.50
Officer Director
$0 $0 $0
FRANCES ARENA TREASURER 2.50
Officer Director
$0 $0 $0
LOUISE CLARKE EXECUTIVE DIRECTOR AND VP 25.00
Officer Director
$18,575 $0 $18,575
SUSAN POPINCHALK TRUSTEE 2.50
Director
$0 $0 $0
JERMOH KAMARA TRUSTEE 0.50
Director
$0 $0 $0
KATHLEEN FINNEGAN TRUSTEE 0.50
Director
$0 $0 $0
ROBERT LAYNE TRUSTEE 0.50
Director
$0 $0 $0
MATTHEW WALLY TRUSTEE 0.50
Director
$0 $0 $0
ROGER NUGENT TRUSTEE 0.50
Director
$0 $0 $0
THOMAS MURRAY CLERK 0.50
Officer Director
$0 $0 $0
SUSAN O'NEIL TRUSTEE 0.50
Director
$0 $0 $0
STACEY LUSTER TRUSTEE 0.50
Director
$0 $0 $0
RACHEL MONARREZ TRUSTEE 0.50
Director
$0 $0 $0
DAN O'BRIEN TRUSTEE 0.50
Director
$0 $0 $0
GINNY PITCHER TRUSTEE 0.50
Director
$0 $0 $0
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 No data No data No data No data
2023 $438,392 $657,119 $438,744 $-218,727
2022 $797,236 $577,595 $620,760 $219,641
2021 $118,537 $154,314 $404,067 $-35,777
2020 $507,282 $462,218 $440,578 $45,064
2019 $448,612 $467,618 $397,630 $-19,006
2018 $485,933 $466,225 $410,448 $19,708
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