Wayne Area Economic Development Inc
Wayne Area Economic Development Inc maintains stable finances with no reported officer compensation over the past decade.
EIN: 203524694 · Wayne, NE · NTEE: S41 · Updated: 2026-03-28
Is Wayne Area Economic Development Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wayne Area Economic Development Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wayne Area Economic Development Inc
Wayne Area Economic Development Inc (EIN: 203524694) is a nonprofit organization based in Wayne, NE, classified under NTEE code S41. The organization reported total revenue of $199K and total assets of $332K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wayne Area Economic Development Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wayne Area Economic Development Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Wayne Area Economic Development Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through non-officer roles, which is a strong positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Wayne Area Economic Development Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating efficient use of funds for mission.
- Stable asset base (e.g., $361,192 in 2023) relative to liabilities ($21,244 in 2023), suggesting financial stability.
- Long history of IRS 990 filings (13 filings), demonstrating consistent transparency and compliance.
- Relatively low liabilities compared to assets, indicating good financial health.
Frequently Asked Questions about Wayne Area Economic Development Inc
Is Wayne Area Economic Development Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wayne Area Economic Development Inc (EIN: 203524694) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Wayne Area Economic Development Inc spend its money?
Wayne Area Economic Development Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wayne Area Economic Development Inc tax-deductible?
Wayne Area Economic Development Inc is registered as a tax-exempt nonprofit (EIN: 203524694). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Wayne Area Economic Development Inc fund its operations given 0% officer compensation?
The organization's officers may be volunteers, or their compensation might be categorized under other expense lines not specifically identified as 'officer compensation' in the IRS 990, or they may be compensated through a related entity. Further detail from the full 990 filing would clarify this.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of expenses beyond total expenses. A full IRS 990 filing would contain Schedule G (Fundraising Activities) and Part IX (Statement of Functional Expenses) to provide this information.
Has the organization experienced significant growth or decline in recent years?
The organization has maintained a relatively stable financial size over the past decade, with revenues fluctuating but not showing a consistent trend of significant growth or decline. For example, revenue in 2014 was $308,473 and in 2023 was $317,784.
Filing History
IRS 990 filing history for Wayne Area Economic Development Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wayne Area Economic Development Inc's revenue has declined by 10.4%, moving from $355K to $318K. Total assets increased by 15% over the same period, from $314K to $361K. Total functional expenses rose by 9.4%, from $307K to $336K. In its most recent filing year (2023), Wayne Area Economic Development Inc reported a deficit of $18K, with expenses exceeding revenue. The organization holds $21K in liabilities against $361K in assets (debt-to-asset ratio: 5.9%), resulting in net assets of $340K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $318K | $336K | $361K | $21K | — | — |
| 2022 | $393K | $365K | $357K | $9K | — | — |
| 2021 | $337K | $354K | $330K | $10K | — | View 990 |
| 2020 | $284K | $285K | $346K | $9K | — | View 990 |
| 2019 | $301K | $305K | $341K | $4K | — | — |
| 2018 | $279K | $303K | $352K | $120 | — | View 990 |
| 2017 | $317K | $282K | $379K | $4K | — | View 990 |
| 2016 | $275K | $289K | $343K | $3K | — | View 990 |
| 2015 | $273K | $288K | $357K | $3K | — | View 990 |
| 2014 | $308K | $275K | $373K | $3K | — | View 990 |
| 2013 | $283K | $275K | $339K | $3K | — | View 990 |
| 2012 | $426K | $412K | $478K | $152K | — | View 990 |
| 2011 | $355K | $307K | $314K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $318K, expenses of $336K, and assets of $361K (revenue -19.1% year-over-year).
- 2022: Revenue of $393K, expenses of $365K, and assets of $357K (revenue +16.4% year-over-year).
- 2021: Revenue of $337K, expenses of $354K, and assets of $330K (revenue +18.8% year-over-year).
- 2020: Revenue of $284K, expenses of $285K, and assets of $346K (revenue -5.6% year-over-year).
- 2019: Revenue of $301K, expenses of $305K, and assets of $341K (revenue +8.0% year-over-year).
- 2018: Revenue of $279K, expenses of $303K, and assets of $352K (revenue -12.2% year-over-year).
- 2017: Revenue of $317K, expenses of $282K, and assets of $379K (revenue +15.5% year-over-year).
- 2016: Revenue of $275K, expenses of $289K, and assets of $343K (revenue +0.7% year-over-year).
- 2015: Revenue of $273K, expenses of $288K, and assets of $357K (revenue -11.6% year-over-year).
- 2014: Revenue of $308K, expenses of $275K, and assets of $373K (revenue +9.1% year-over-year).
- 2013: Revenue of $283K, expenses of $275K, and assets of $339K (revenue -33.6% year-over-year).
- 2012: Revenue of $426K, expenses of $412K, and assets of $478K (revenue +20.1% year-over-year).
- 2011: Revenue of $355K, expenses of $307K, and assets of $314K.
Data Sources and Methodology
This transparency report for Wayne Area Economic Development Inc 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.