Wayland Economic Development Corp
EIN: 421305986 · Wayland, IA · NTEE: S41
| Metric | Value |
|---|---|
| Total Revenue | $48K |
| Total Expenses | $25K |
| Net Assets | $867K |
Is Wayland Economic Development Corp Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Wayland Economic Development Corp
Wayland Economic Development Corp (EIN: 421305986) is a nonprofit organization based in Wayland, IA, classified under NTEE code S41. The organization reported total revenue of $48K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wayland Economic Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wayland Economic Development Corp is a micro nonprofit that has been operating for 15 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 24.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $267K |
| Total Expenses | $25K |
| Surplus / Deficit | +$242K |
| Total Assets | $1.1M |
| Total Liabilities | $198K |
| Net Assets | $867K |
| Operating Margin | 90.6% |
| Debt-to-Asset Ratio | 18.6% |
| Months of Reserves | 507.5 months |
Financial Health Grade: A
In 2023, Wayland Economic Development Corp reported a surplus of $242K with revenue exceeding expenses, holds 507.5 months of operating reserves (strong position), has a debt-to-asset ratio of 18.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Wayland Economic Development Corp's revenue has grown at a compound annual growth rate (CAGR) of 24.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +342.6% | +62.5% | +21.3% |
| 2022 | +12.3% | +8.4% | +34.8% |
| 2021 | -10.7% | -0.7% | +1.8% |
| 2020 | +274.6% | -0.1% | +1.7% |
| 2019 | -91.4% | +39.0% | +0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Wayland Economic Development Corp has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wayland Economic Development Corp with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $242K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.6%.
Frequently Asked Questions about Wayland Economic Development Corp
Is Wayland Economic Development Corp a legitimate charity?
Wayland Economic Development Corp (EIN: 421305986) is a registered tax-exempt nonprofit based in Iowa. It has 13 years of IRS 990 filings on record. Total revenue: $48K. No red flags identified. Financial health grade: A.
How does Wayland Economic Development Corp spend its money?
Wayland Economic Development Corp reported $48K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Wayland Economic Development Corp tax-deductible?
Wayland Economic Development Corp is registered as a tax-exempt nonprofit (EIN: 421305986). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Wayland Economic Development Corp located?
Wayland Economic Development Corp is headquartered in Wayland, Iowa and files with the IRS under EIN 421305986. It is classified under NTEE code S41.
How many years of IRS 990 filings does Wayland Economic Development Corp have?
Wayland Economic Development Corp has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $48K in total revenue.
Filing History
IRS 990 filing history for Wayland Economic Development Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wayland Economic Development Corp's revenue has grown by 1302.4%, moving from $19K to $267K. Total assets increased by 535.1% over the same period, from $168K to $1.1M. Total functional expenses rose by 171.1%, from $9K to $25K. In its most recent filing year (2023), Wayland Economic Development Corp reported a surplus of $242K, with revenue exceeding expenses. The organization holds $198K in liabilities against $1.1M in assets (debt-to-asset ratio: 18.6%), resulting in net assets of $867K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $267K | $25K | $1.1M | $198K | — | — |
| 2022 | $60K | $15K | $878K | $253K | — | — |
| 2021 | $54K | $14K | $651K | $71K | — | View 990 |
| 2020 | $60K | $14K | $639K | $99K | — | — |
| 2019 | $16K | $14K | $629K | $134K | — | View 990 |
| 2018 | $187K | $10K | $627K | $134K | — | View 990 |
| 2017 | $75K | $17K | $541K | $224K | — | View 990 |
| 2016 | $75K | $19K | $528K | $269K | — | View 990 |
| 2015 | $71K | $26K | $518K | $315K | — | View 990 |
| 2014 | $8K | $21K | $573K | $415K | — | View 990 |
| 2013 | $25K | $12K | $586K | $415K | — | View 990 |
| 2012 | $18K | $12K | $574K | $415K | — | View 990 |
| 2011 | $19K | $9K | $168K | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $267K, expenses of $25K, and assets of $1.1M (revenue +342.6% year-over-year).
- 2022: Revenue of $60K, expenses of $15K, and assets of $878K (revenue +12.3% year-over-year).
- 2021: Revenue of $54K, expenses of $14K, and assets of $651K (revenue -10.7% year-over-year).
- 2020: Revenue of $60K, expenses of $14K, and assets of $639K (revenue +274.6% year-over-year).
- 2019: Revenue of $16K, expenses of $14K, and assets of $629K (revenue -91.4% year-over-year).
- 2018: Revenue of $187K, expenses of $10K, and assets of $627K (revenue +150.5% year-over-year).
- 2017: Revenue of $75K, expenses of $17K, and assets of $541K (revenue -1.1% year-over-year).
- 2016: Revenue of $75K, expenses of $19K, and assets of $528K (revenue +6.9% year-over-year).
- 2015: Revenue of $71K, expenses of $26K, and assets of $518K (revenue +787.6% year-over-year).
- 2014: Revenue of $8K, expenses of $21K, and assets of $573K (revenue -67.9% year-over-year).
- 2013: Revenue of $25K, expenses of $12K, and assets of $586K (revenue +37.2% year-over-year).
- 2012: Revenue of $18K, expenses of $12K, and assets of $574K (revenue -5.4% year-over-year).
- 2011: Revenue of $19K, expenses of $9K, and assets of $168K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wayland Economic Development Corp:
Data Sources and Methodology
This transparency report for Wayland Economic Development Corp is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.