Wayne County Economic Development Authority
EIN: 550741227 · Wayne, WV · NTEE: S41
| Metric | Value |
|---|---|
| Total Revenue | $106K |
| Total Expenses | $35K |
| Net Assets | $408K |
Is Wayne County Economic Development Authority Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Wayne County Economic Development Authority
Wayne County Economic Development Authority (EIN: 550741227) is a nonprofit organization based in Wayne, WV, classified under NTEE code S41. The organization reported total revenue of $106K and total assets of $398K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wayne County Economic Development Authority's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wayne County Economic Development Authority is a small nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -14.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $26K |
| Total Expenses | $35K |
| Surplus / Deficit | $-9,587 |
| Total Assets | $409K |
| Total Liabilities | $427 |
| Net Assets | $408K |
| Operating Margin | -37.5% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 139.5 months |
Financial Health Grade: B
In 2023, Wayne County Economic Development Authority reported a deficit of $10K with expenses exceeding revenue, holds 139.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Wayne County Economic Development Authority's revenue has declined at a compound annual growth rate (CAGR) of -14.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -91.1% | -39.9% | -4.8% |
| 2022 | +171.6% | -41.9% | +112.1% |
| 2021 | +155.9% | +8.9% | +2.6% |
| 2020 | -28.6% | -28.2% | -20.6% |
| 2019 | -64.5% | -47.7% | -22.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Wayne County Economic Development Authority 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 Wayne County Economic Development Authority 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 deficit of $10K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Frequently Asked Questions about Wayne County Economic Development Authority
Is Wayne County Economic Development Authority a legitimate charity?
Wayne County Economic Development Authority (EIN: 550741227) is a registered tax-exempt nonprofit based in West Virginia. It has 13 years of IRS 990 filings on record. Total revenue: $106K. No red flags identified. Financial health grade: B.
How does Wayne County Economic Development Authority spend its money?
Wayne County Economic Development Authority reported $106K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Wayne County Economic Development Authority tax-deductible?
Wayne County Economic Development Authority is registered as a tax-exempt nonprofit (EIN: 550741227). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Wayne County Economic Development Authority located?
Wayne County Economic Development Authority is headquartered in Wayne, West Virginia and files with the IRS under EIN 550741227. It is classified under NTEE code S41.
How many years of IRS 990 filings does Wayne County Economic Development Authority have?
Wayne County Economic Development Authority 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 $106K in total revenue.
Filing History
IRS 990 filing history for Wayne County Economic Development Authority showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wayne County Economic Development Authority's revenue has declined by 84.3%, moving from $163K to $26K. Total assets decreased by 58.6% over the same period, from $986K to $409K. Total functional expenses fell by 76.9%, from $152K to $35K. In its most recent filing year (2023), Wayne County Economic Development Authority reported a deficit of $10K, with expenses exceeding revenue. The organization holds $427 in liabilities against $409K in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $408K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $26K | $35K | $409K | $427 | — | View 990 |
| 2022 | $286K | $58K | $429K | $0 | — | View 990 |
| 2021 | $105K | $101K | $202K | $595 | — | — |
| 2020 | $41K | $92K | $197K | $0 | — | — |
| 2019 | $58K | $129K | $248K | $0 | — | View 990 |
| 2018 | $162K | $246K | $320K | $0 | — | View 990 |
| 2017 | $-101,125 | $364K | $403K | $0 | — | View 990 |
| 2016 | $196K | $200K | $868K | $0 | — | View 990 |
| 2015 | $164K | $222K | $873K | $0 | — | View 990 |
| 2014 | $192K | $181K | $931K | $8K | — | View 990 |
| 2013 | $194K | $184K | $920K | $8K | — | View 990 |
| 2012 | $156K | $239K | $911K | $8K | — | — |
| 2011 | $163K | $152K | $986K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $26K, expenses of $35K, and assets of $409K (revenue -91.1% year-over-year).
- 2022: Revenue of $286K, expenses of $58K, and assets of $429K (revenue +171.6% year-over-year).
- 2021: Revenue of $105K, expenses of $101K, and assets of $202K (revenue +155.9% year-over-year).
- 2020: Revenue of $41K, expenses of $92K, and assets of $197K (revenue -28.6% year-over-year).
- 2019: Revenue of $58K, expenses of $129K, and assets of $248K (revenue -64.5% year-over-year).
- 2018: Revenue of $162K, expenses of $246K, and assets of $320K.
- 2017: Revenue of $-101,125, expenses of $364K, and assets of $403K (revenue -151.7% year-over-year).
- 2016: Revenue of $196K, expenses of $200K, and assets of $868K (revenue +19.2% year-over-year).
- 2015: Revenue of $164K, expenses of $222K, and assets of $873K (revenue -14.3% year-over-year).
- 2014: Revenue of $192K, expenses of $181K, and assets of $931K (revenue -1.0% year-over-year).
- 2013: Revenue of $194K, expenses of $184K, and assets of $920K (revenue +24.3% year-over-year).
- 2012: Revenue of $156K, expenses of $239K, and assets of $911K (revenue -4.3% year-over-year).
- 2011: Revenue of $163K, expenses of $152K, and assets of $986K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wayne County Economic Development Authority:
Data Sources and Methodology
This transparency report for Wayne County Economic Development Authority 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.