Wayne Area Economic Development Inc
- Assets
- $361.2k
- Revenue
- $317.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Wayne, NE
- Founding
- 03/2006
- Data as of
- 12/2023
- EIN
- 20-3524694
Organization Overview
Wayne Area Economic Development Inc is located in Wayne, NE. The organization was established in 2006. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Wayne Area Economic Development Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wayne Area Economic Development Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Wayne Area Economic Development Inc generated $317.8k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $336.1k during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WAYNE AREA ECONOMIC DEVELOPMENT, INC. PROVIDES A FOCUSED AND INTEGRATED ECONOMIC DEVELOPMENT EFFORT FOR THE GREATER COMMUNITY ON BEHALF OF ALL ITS RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WAYNE CHICKEN SHOW IS A COMMUNITY FUNDRAISER HELD ANNUALLY IN JULY TO PROMOTE WAYNE TO THE GREATER NEBRASKA.
OTHER
VENDOR GOLF IS A GOLF FUNDRAISER HELD ANNUALLY IN JULY TO PROMOTE COMMUNITY INVOLVEMENT AMONG THE PEOPLE OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lucas Virgil Executive Di | Officer | 40 | $55,180 |
Jill Brodersen Director | Trustee | 1 | $0 |
Terri Buck Director | Trustee | 1 | $0 |
Dean Burbach Director | Trustee | 1 | $0 |
Justin Davis Director | OfficerTrustee | 1 | $0 |
Megan Finn Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $74,425 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $104,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,765 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,450 |
| Total Program Service Revenue | $125,995 |
| Investment income | $2,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,150 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $317,784 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $57,717 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,053 |
| Pension plan accruals and contributions | $2,930 |
| Other employee benefits | $24,489 |
| Payroll taxes | $9,369 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $261 |
| Fees for services: Accounting | $3,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $37,132 |
| Office expenses | $17,913 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,867 |
| Travel | $4,388 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,629 |
| All other expenses | $34,183 |
| Total functional expenses | $336,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$603 |
| Savings and temporary cash investments | $40,864 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,780 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $293,309 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,842 |
| Total assets | $361,192 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,244 |
| Total liabilities | $21,244 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $339,948 |
| Total liabilities and net assets/fund balances | $361,192 |