Wayne County Development Allianceinc
Wayne County Development Allianceinc experiences massive financial growth and increased liabilities in 2023, with zero reported officer compensation.
EIN: 205132258 · Goldsboro, NC · NTEE: S30 · Updated: 2026-03-28
Is Wayne County Development Allianceinc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wayne County Development Allianceinc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wayne County Development Allianceinc
Wayne County Development Allianceinc (EIN: 205132258) is a nonprofit organization based in Goldsboro, NC, classified under NTEE code S30. The organization reported total revenue of $11.1M and total assets of $14.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wayne County Development Allianceinc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wayne County Development Allianceinc is a large nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.0M |
| Total Expenses | $10.8M |
| Surplus / Deficit | +$183K |
| Total Assets | $15.1M |
| Total Liabilities | $9.3M |
| Net Assets | $5.8M |
| Operating Margin | 1.7% |
| Debt-to-Asset Ratio | 61.9% |
| Months of Reserves | 16.8 months |
Financial Health Grade: A
In 2023, Wayne County Development Allianceinc reported a surplus of $183K with revenue exceeding expenses, holds 16.8 months of operating reserves (strong position), has a debt-to-asset ratio of 61.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Wayne County Development Allianceinc's revenue has grown at a compound annual growth rate (CAGR) of 27.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2025.9% | +2936.6% | +169.0% |
| 2022 | +1.5% | -32.2% | +3.7% |
| 2021 | -67.6% | -66.9% | -2.1% |
| 2020 | -16.0% | -39.7% | +0.7% |
| 2019 | +127.5% | +308.5% | -11.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wayne County Development Allianceinc 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Wayne County Development Allianceinc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $183K, with revenue exceeding expenses.
- Debt-to-asset ratio: 61.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation were paid to officers, directors, or trustees. This is a strong positive for a nonprofit of its size, suggesting a high dedication to directing funds towards its mission rather than executive salaries.
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.
Red Flags
The following concerns were identified during AI analysis of Wayne County Development Allianceinc's IRS 990 filings:
- Highly volatile revenue and expense figures year-over-year, making consistent financial planning and analysis challenging.
- Significant increase in liabilities in 2023 to $9,347,776, which needs further context to assess financial risk.
Strengths
The following positive indicators were identified for Wayne County Development Allianceinc:
- Consistent reporting of 0% officer compensation, indicating a strong commitment to minimizing executive overhead.
- Substantial asset growth to over $15 million in 2023, suggesting increased capacity or investment.
- High program spending efficiency, with expenses closely matching revenue in the latest period, implying funds are being actively deployed.
Frequently Asked Questions about Wayne County Development Allianceinc
Is Wayne County Development Allianceinc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wayne County Development Allianceinc (EIN: 205132258) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Wayne County Development Allianceinc spend its money?
Wayne County Development Allianceinc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wayne County Development Allianceinc tax-deductible?
Wayne County Development Allianceinc is registered as a tax-exempt nonprofit (EIN: 205132258). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the dramatic increase in revenue and expenses in the 2023 fiscal year?
The 2023 filing shows revenue of $10,960,205 and expenses of $10,777,593, a significant jump from previous years' figures, which typically hovered below $2 million. This suggests a major new project, grant, or operational expansion.
How does the organization manage its increased liabilities of $9,347,776 in 2023?
The substantial increase in liabilities in 2023, up from $39,200 in 2022, warrants investigation to understand the nature of these obligations and the organization's strategy for managing them.
What specific programs or initiatives are funded by the organization's substantial 2023 budget?
Given the NTEE code S30 (Community Development), understanding the specific community development projects or initiatives that consumed over $10 million in expenses in 2023 would provide clarity on program effectiveness.
Filing History
IRS 990 filing history for Wayne County Development Allianceinc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wayne County Development Allianceinc's revenue has grown by 1665.5%, moving from $621K to $11.0M. Total assets increased by 1802.2% over the same period, from $794K to $15.1M. Total functional expenses rose by 1645.9%, from $617K to $10.8M. In its most recent filing year (2023), Wayne County Development Allianceinc reported a surplus of $183K, with revenue exceeding expenses. The organization holds $9.3M in liabilities against $15.1M in assets (debt-to-asset ratio: 61.9%), resulting in net assets of $5.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.0M | $10.8M | $15.1M | $9.3M | — | View 990 |
| 2022 | $516K | $355K | $5.6M | $39K | — | View 990 |
| 2021 | $508K | $523K | $5.4M | $59 | — | View 990 |
| 2020 | $1.6M | $1.6M | $5.5M | $100K | — | View 990 |
| 2019 | $1.9M | $2.6M | $5.5M | $50K | — | View 990 |
| 2018 | $821K | $641K | $6.2M | $0 | — | View 990 |
| 2017 | $4.9M | $569K | $6.0M | $0 | — | View 990 |
| 2016 | $726K | $710K | $1.7M | $21K | — | View 990 |
| 2015 | $1.1M | $536K | $1.7M | $8K | — | View 990 |
| 2014 | $754K | $793K | $1.2M | $57K | — | View 990 |
| 2013 | $711K | $503K | $1.2M | $26K | — | View 990 |
| 2012 | $784K | $579K | $1.0M | $29K | — | View 990 |
| 2011 | $621K | $617K | $794K | $9K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.0M, expenses of $10.8M, and assets of $15.1M (revenue +2025.9% year-over-year).
- 2022: Revenue of $516K, expenses of $355K, and assets of $5.6M (revenue +1.5% year-over-year).
- 2021: Revenue of $508K, expenses of $523K, and assets of $5.4M (revenue -67.6% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.6M, and assets of $5.5M (revenue -16.0% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.6M, and assets of $5.5M (revenue +127.5% year-over-year).
- 2018: Revenue of $821K, expenses of $641K, and assets of $6.2M (revenue -83.2% year-over-year).
- 2017: Revenue of $4.9M, expenses of $569K, and assets of $6.0M (revenue +573.0% year-over-year).
- 2016: Revenue of $726K, expenses of $710K, and assets of $1.7M (revenue -30.9% year-over-year).
- 2015: Revenue of $1.1M, expenses of $536K, and assets of $1.7M (revenue +39.2% year-over-year).
- 2014: Revenue of $754K, expenses of $793K, and assets of $1.2M (revenue +6.1% year-over-year).
- 2013: Revenue of $711K, expenses of $503K, and assets of $1.2M (revenue -9.3% year-over-year).
- 2012: Revenue of $784K, expenses of $579K, and assets of $1.0M (revenue +26.3% year-over-year).
- 2011: Revenue of $621K, expenses of $617K, and assets of $794K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wayne County Development Allianceinc:
Data Sources and Methodology
This transparency report for Wayne County Development Allianceinc 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.