Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2006.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
18 people listed on the 990; $142K paid to officers and key staff.
Lucas Virgil’s $55K as Executive Di is at the 34th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2023 | FY2022 | FY2020 |
|---|---|---|---|
| Lucas Virgil | $55,180 | $63,500 | $64,079 |
| Irene Fletcher | — | — | $43,192 |
| Abby Schademann | — | — | $34,750 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Boosts community economic growth and opportunities for all residents.
Questions for Wayne Area Economic Development INC
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Know this org? Add your story
Wayne chicken show is a community fundraiser held annually in july to promote wayne to the greater nebraska.
Vender golf is a golf fundraiser held annually in july to promote community involvement among the people of the community.
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $96K | $101K |
| InvestmentsLn 11–13 | $12K | $13K |
| Total assetsLn 16 | $341K | $346K |
| LiabilitiesLn 26 | $4K | $9K |
| Net assetsLn 32 | $337K | $337K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $155K | |||
| Pension plan contributionsLn 8 | $54 | |||
| Other employee benefitsLn 9 | $16K | |||
| Payroll taxesLn 10 | $466 | |||
| Legal feesLn 11b | $1K | |||
| Accounting feesLn 11c | $13 | |||
| Other fees for servicesLn 11g | $17K | |||
| Office expensesLn 13 | $11K | |||
| OccupancyLn 16 | $9K | |||
| TravelLn 17 | $2K | |||
| InsuranceLn 23 | $6K | |||
| Other expenses (24a–d)Ln 24 | $65K | |||
| All other expensesLn 24e | $2K | |||
| Total functional expensesLn 25 | $285K | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $199K | $192K | $7K | $332K | 990 PDF |
| FY2023 | $318K | $336K | −$18K | $340K | 990 PDF |
| FY2022 | $393K | $365K | $28K | $348K | 990 PDF |
| FY2021 | $337K | $354K | −$16K | $321K | 990 PDF |
| FY2020 Viewing | $284K | $285K | −$394 | $337K | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $284,108 revenue, 12 lines filed
Part VI · Governance 15 of 15 board members independent, 2 to look at
Part VIII · Statement of revenue $284,108 across 7 lines filed
Part IX · Statement of functional expenses $284,502 across 13 lines filed
Part X · Balance sheet $345,704 assets, 9 lines filed
Part XI · Reconciliation of net assets $336,701 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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