Washington Economic Development Group EIN 42-1276049

Washington Economic Development Group

EIN  42-1276049 Business league / trade association Washington, IA Founded 1986
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Promotes economic growth and job creation in the region.
Leadership
Melanie Bimson · Executive Director
Money in and out
$184K revenue, $220K expenses
Bottom line
-19% operating surplus

Promotes economic growth and job creation in the region. For fiscal year 2025 it reported $184K in revenue, $220K in expenses, and $927K in net assets.Pt I

Membership & operating revenue · FY2025
Total revenue
$184K
Pt VIII · Ln 12
Total expenses
$220K
Pt IX · Ln 25
Net assets
$927K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$35K
Where spending went · Part IX cols B–D
Program services $0.22 Management & general $0.76
Operating surplus
-19%
revenue over expenses▼ -126% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
50%
of spending is salaries & benefits▼ -20% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$184K
FY2025▼ -73%
Expenses
$220K
FY2025▲ +21%
Total assets
$977K
FY2025▼ -4%
Total liabilities
$49K
FY2025▼ -4%
Total revenue
$184K
Pt VIII · Ln 12
Total expenses
$220K
Pt IX · Ln 25
Net assets
$927K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$35K
Total assetsPt X · Ln 16$977K
Program-expense ratioPt IX · col B22%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $48K of program spending, described in the organization's own filed words · FY2025.
01

To serve the needs of business and industry, and local government in greater washington county, iowa.

$48Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWashington Economic Development Group
EINHdr · item D42-1276049
Principal addressHdr · item CWashington, IA
WebsiteHdr · item Jwedg.washingtoniowa.org
Year of formationHdr · item L1986
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFApr 1992

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Mary Audia’s $105K as Executive Director is at the 76th percentile of top reported officer pay among 1711 $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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Mary Audia$105,276$99,212$88,569$87,881

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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Statement of Revenue

Part VIII
Contributions & grants$162K · 88%
Investment income$14K · 8%
Other revenue$9K · 5%
Contributions & grants88%$162K
Investment income8%$14K
Other revenue5%$9K
— government grantsLn 1e$69K
Total revenueLn 12$184K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.22 Management & general $0.76
Program services22%$48K
Management & general76%$167K
Total functional expensesLn 25$220K

Balance Sheet

Part X · end of year
CashLn 1$772K
Total assetsLn 16$977K
Total liabilitiesLn 26$49K
Total net assetsLn 32$927K
Months of cash on handcomputed42.2

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $772K · Operating expenses/yr $220K
42.2 months
Where the money goes
Program services
Program services $48K · Total expenses $220K
22%
Management & General
Management & general $167K · Total expenses $220K
76%
Fundraising
Fundraising $0 · Total expenses $220K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $2K · Solicited contributions (3-yr avg) $92K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $162K · Total revenue $184K
88%
Government reliance
Government grants $69K · Total revenue $184K
37%
Earned-income share
Program service revenue $0 · Total revenue $184K
0%
Investment reliance
Investment income $14K · Total revenue $184K
+8%
Program self-sufficiency
Program service revenue $0 · Total expenses $220K
0%
Growth & trend
Revenue growth (YoY)
This year $184K · Prior year $692K
-73%
Revenue CAGR
FY2021 $218K · FY2025 $184K
-4%
Net-asset trend (YoY)
End of year $927K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $184K · Expenses $220K
-19%
Liabilities-to-Assets
Total liabilities — · Total assets $977K
Net-asset ratio
Net assets $927K · Total assets $977K
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $977K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Melanie Bimson · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $0 · Total expenses $220K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $110K · Total expenses $220K
50%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 22%
Overhead ratio 76%
Revenue growth -73%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 3 grants · $45K · 2025–2025

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$184K revenue · viewing · ⤓ 990 PDF
FY2024$692K revenue · ⤓ 990 PDF
FY2023$240K revenue · ⤓ 990 PDF
FY2022$266K revenue · ⤓ 990 PDF
FY2021$218K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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