West Virginia Economic Development Council Inc
West Virginia Economic Development Council Inc. maintains strong assets and zero liabilities with volunteer leadership.
EIN: 203040385 · Charleston, WV · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $164K |
| Total Expenses | $58K |
| Program Spending | 90% |
| Net Assets | $231K |
| Transparency Score | 95/100 |
Is West Virginia Economic Development Council Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
West Virginia Economic Development Council Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About West Virginia Economic Development Council Inc
West Virginia Economic Development Council Inc (EIN: 203040385) is a nonprofit organization based in Charleston, WV, classified under NTEE code S41. The organization reported total revenue of $164K and total assets of $220K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of West Virginia Economic Development Council Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
West Virginia Economic Development Council Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $93K |
| Total Expenses | $58K |
| Surplus / Deficit | +$35K |
| Total Assets | $231K |
| Net Assets | $231K |
| Operating Margin | 37.7% |
| Months of Reserves | 47.9 months |
Financial Health Grade: A
In 2023, West Virginia Economic Development Council Inc reported a surplus of $35K with revenue exceeding expenses, holds 47.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), West Virginia Economic Development Council Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +132.4% | +34.9% | +17.3% |
| 2022 | -55.5% | -0.3% | -8.6% |
| 2021 | +284.8% | +1.2% | +26.0% |
| 2020 | -56.6% | -7.8% | -11.2% |
| 2019 | +18.6% | -12.8% | +3.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2005 |
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 West Virginia Economic Development Council Inc with a Mission Score of 95 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, West Virginia Economic Development Council Inc 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 $35K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is led by volunteers, which significantly enhances its financial efficiency and directs more resources to its mission.
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 West Virginia Economic Development Council Inc:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership and high efficiency.
- Zero liabilities reported across all available filings, demonstrating strong financial health and low risk.
- Steady growth in assets, from $163,362 in 2014 to $230,952 in 2023, indicating financial stability.
- Consistent filing of IRS Form 990s over 13 periods, showing strong transparency and accountability.
- Expenses generally kept below or comparable to revenue, indicating responsible spending.
Frequently Asked Questions about West Virginia Economic Development Council Inc
Is West Virginia Economic Development Council Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, West Virginia Economic Development Council Inc (EIN: 203040385) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does West Virginia Economic Development Council Inc spend its money?
West Virginia Economic Development Council Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to West Virginia Economic Development Council Inc tax-deductible?
West Virginia Economic Development Council Inc is registered as a tax-exempt nonprofit (EIN: 203040385). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of West Virginia Economic Development Council Inc's spending goes to programs?
West Virginia Economic Development Council Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does West Virginia Economic Development Council Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), West Virginia Economic Development Council Inc is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is West Virginia Economic Development Council Inc located?
West Virginia Economic Development Council Inc is headquartered in Charleston, West Virginia and files with the IRS under EIN 203040385. It is classified under NTEE code S41.
How many years of IRS 990 filings does West Virginia Economic Development Council Inc have?
West Virginia Economic Development Council Inc 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 $164K in total revenue.
Is West Virginia Economic Development Council Inc. a good charity?
Based on its financial data, the West Virginia Economic Development Council Inc. appears to be a very good charity. It consistently reports zero liabilities, has growing assets (from $163,362 in 2014 to $230,952 in 2023), and operates with 0% officer compensation, meaning all leadership is volunteer-based. This indicates high efficiency and a strong commitment to its mission.
How does the organization manage its finances?
The organization manages its finances prudently, consistently maintaining a healthy asset base and reporting zero liabilities across all filings. While revenue fluctuates, expenses are generally kept in check, and the absence of officer compensation suggests a highly cost-effective operational model.
What is the trend in the organization's assets?
The organization's assets have shown a positive trend, growing from $163,362 in 2014 to $230,952 in 2023, indicating financial growth and stability over the past decade.
Filing History
IRS 990 filing history for West Virginia Economic Development Council Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), West Virginia Economic Development Council Inc's revenue has grown by 129.5%, moving from $40K to $93K. Total assets increased by 85.9% over the same period, from $124K to $231K. Total functional expenses rose by 337.4%, from $13K to $58K. In its most recent filing year (2023), West Virginia Economic Development Council Inc reported a surplus of $35K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $93K | $58K | $231K | $0 | — | View 990 |
| 2022 | $40K | $43K | $197K | $0 | — | — |
| 2021 | $90K | $43K | $216K | $0 | — | View 990 |
| 2020 | $23K | $43K | $171K | $0 | — | View 990 |
| 2019 | $54K | $46K | $193K | $0 | — | View 990 |
| 2018 | $45K | $53K | $186K | $0 | — | View 990 |
| 2017 | $57K | $43K | $196K | $0 | — | View 990 |
| 2016 | $58K | $54K | $183K | $0 | — | View 990 |
| 2015 | $42K | $20K | $183K | $0 | — | View 990 |
| 2014 | $50K | $10K | $163K | $0 | — | View 990 |
| 2013 | $37K | $15K | $123K | $0 | — | View 990 |
| 2012 | $3K | $22K | $105K | $0 | — | View 990 |
| 2011 | $40K | $13K | $124K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $93K, expenses of $58K, and assets of $231K (revenue +132.4% year-over-year).
- 2022: Revenue of $40K, expenses of $43K, and assets of $197K (revenue -55.5% year-over-year).
- 2021: Revenue of $90K, expenses of $43K, and assets of $216K (revenue +284.8% year-over-year).
- 2020: Revenue of $23K, expenses of $43K, and assets of $171K (revenue -56.6% year-over-year).
- 2019: Revenue of $54K, expenses of $46K, and assets of $193K (revenue +18.6% year-over-year).
- 2018: Revenue of $45K, expenses of $53K, and assets of $186K (revenue -20.2% year-over-year).
- 2017: Revenue of $57K, expenses of $43K, and assets of $196K (revenue -1.6% year-over-year).
- 2016: Revenue of $58K, expenses of $54K, and assets of $183K (revenue +38.3% year-over-year).
- 2015: Revenue of $42K, expenses of $20K, and assets of $183K (revenue -17.2% year-over-year).
- 2014: Revenue of $50K, expenses of $10K, and assets of $163K (revenue +35.5% year-over-year).
- 2013: Revenue of $37K, expenses of $15K, and assets of $123K (revenue +1096.5% year-over-year).
- 2012: Revenue of $3K, expenses of $22K, and assets of $105K (revenue -92.3% year-over-year).
- 2011: Revenue of $40K, expenses of $13K, and assets of $124K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for West Virginia Economic Development Council Inc:
Data Sources and Methodology
This transparency report for West Virginia Economic Development Council 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.