2006$400,000 Seed Funding • Founded by Westminster Presbyterian Church • 1st full-time employee hired 2009Annual Budget $110,438 • Launches microloan program 2011Annual Budget $96,478 • 1st West Side Bazaar opens with 6 businesses 2012Annual Budget $108,838 • West Side Bazaar opens at 25 Grant Street, more than doubling capacity 2016 Annual Budget $718,606 • Becomes a microloan intermediary authorized to issue Small Business Association (SBA) loans • Becomes a certified Community Development Financial Institution (CDFI) with lowest lending threshold ($500) 2017 Annual Budget $998,0000 • 15 full-time employees, 16 Americorps • Community Stakeholder Focus Groups (through 2019) • Board & Community Committee formed to test expansion strategies • 19 foundation, corporate, government grants funded 2018Annual Budget $1,360,000 • 15 full-time, 8 Americorps • Purchase of 1432 Niagara Street • 55 grants submitted 2019 Annual Budget $1,657,000 • Carolynn Welch becomes Executive Director • Expanded Board of Directors • CJS Architects retained for new West Side Bazaar 2020 Annual Budget $1,707,000 • 20 full-time employees • Staff is restructured and professionalized • Capital Campaign planning begins • Hayes Construction Corp. retained for new West Side Bazaar PILLARS WEDI’s dual focus areas of Education and Economic Development (ED) work in tandem to tackle systemic inequities that affect Buffalo’s underserved residents, many of whom are people of color. By supporting youth to succeed in school and empowering entrepreneurs to launch, sustain, and grow small businesses, WEDI is helping to create a more equitable Buffalo. 10 // WINTERFEST 2022
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