Wayne County Economic Development Authority

Organization Overview

Wayne County Economic Development Authority is located in Wayne, WV. The organization was established in 1999. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wayne County Economic Development Authority 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 06/2023, Wayne County Economic Development Authority generated $25.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (33.4%) each year. All expenses for the organization totaled $35.1k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (29.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE WAYNE COUNTY ECONOMIC DEVELOPMENT AUTHORITY (WCEDA) WAS ESTABLISHED TO PROMOTE, DEVELOP AND EXPAND ALL TYPES OF BUSINESS AND INDUSTRIAL ACTIVITY. THIS ACTIVITY WILL ADVANCE AND MAINTAIN THE ECONOMIC BASIS OF WAYNE COUNTY. THE PURSUIT OF THESE ACTIVITIES WILL PROVIDE OPPORTUNITIES FOR EMPLOYMENT AND IMPROVEMENT IN THE STANDARD OF LIVING FOR THE CITIZENS OF WAYNE COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTION OF AND ASSISTANCE IN THE ECONOMIC DEVELOPMENT OF WAYNE COUNTY.


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Board, Officers & Key Employees

Name (title)Compensation
Larry Castle
President
$0
Xan Mooney
Vice President
$0
Robert Thompson
Secretary
$0
Ryan Turner
Treasurer
$0
Todd Alexander
Board Member
$0
Tim Burgess
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $22,783
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$22,783
Total Program Service Revenue$0
Investment income $2,568
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $25,551

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