Washington Economic Development Group FY2021 filing

Washington, IA · Business league / trade association · Since 1986 · Community Development

! Not tax-deductible
Revenue
$218K
Spent
$148K
To programs
13%
Net assets
$265K
By yearFY2021–FY2025
Revenue
$218K
FY2021
Revenue by fiscal year
FY2021$218K
FY2022$266K
FY2023$240K
FY2024$692K
FY2025$184K
Expenses
$148K
FY2021
Expenses by fiscal year
FY2021$148K
FY2022$157K
FY2023$163K
FY2024$181K
FY2025$220K
Net assets
$265K
FY2021
Net assets by fiscal year
FY2021$265K
FY2022$374K
FY2023$451K
FY2024$963K
FY2025$927K

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CWashington Economic Development Group
EINHdr · item D42-1276049
Exempt statusHdr · item I501(c)(6) · active
Ruling yearIRS BMFApr 1992
Year of formationHdr · item L1986
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CWashington, IA
NTEE classificationIRS BMFCommunity Development (S41)
WebsiteHdr · item Jwedg.washingtoniowa.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.13 Management & general $0.80
Program services13%$20K
Management & general80%$119K
Total functional expensesLn 25$148K

Financial health

Is it on solid ground?

Operating surplus
+32%
revenue over expenses
Earned revenue
1%
of revenue from program services & dues
Payroll share
63%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$336K
FY2021
Total assets by fiscal year
FY2021$336K
FY2022$438K
FY2023$510K
FY2024$1.0M
FY2025$977K
Total liabilities
$71K
FY2021
Total liabilities by fiscal year
FY2021$71K
FY2022$64K
FY2023$59K
FY2024$51K
FY2025$49K
Revenue less expensesPt I · Ln 19$71K
Total assetsPt X · Ln 16$336K
Program-expense ratioPt IX · col B13%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

Balance Sheet

Part X · end of year
CashLn 1$227K
Total assetsLn 16$336K
Total liabilitiesLn 26$71K
Total net assetsLn 32$265K
Months of cash on handcomputed18.4

Statement of Revenue

Part VIII
Contributions & grants$208K · 95%
Other revenue$7K · 3%
Program service revenue$3K · 1%
Contributions & grants95%$208K
Other revenue3%$7K
Program service revenue1%$3K
Investment income$219
— government grantsLn 1e$118K
Total revenueLn 12$218K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $227K · Operating expenses/yr $148K
18.4 months
Where the money goes
Program services
Program services $20K · Total expenses $148K
not reported
Management & General
Management & general $119K · Total expenses $148K
not reported
Fundraising
Fundraising $0 · Total expenses $148K
not reported
Cost to raise $1
Fundraising expense $0 · Solicited contributions $91K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $208K · Total revenue $218K
95%
Government reliance
Government grants $118K · Total revenue $218K
54%
Earned-income share
Program service revenue $3K · Total revenue $218K
1%
Investment reliance
Investment income $219 · Total revenue $218K
+0.1%
Program self-sufficiency
Program service revenue $3K · Total expenses $148K
2%
Growth & trend
Revenue growth (YoY)
This year $218K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $265K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $218K · Expenses $148K
+32%
Liabilities-to-Assets
Total liabilities — · Total assets $336K
—
Net-asset ratio
Net assets $265K · Total assets $336K
79%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $336K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Mary Audia · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $88K · Total expenses $148K
59%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $94K · Total expenses $148K
63%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 13%——
Overhead ratio 80%——
Fundraising cost ratio 0%——
Accounting fee ratio 3%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$87,881Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$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 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 · 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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Governance & Policies

Part VI
  • 12Voting board membersPt VI · Ln 1a
  • 12Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Promotes economic growth and job creation in the region.

Provided by the organization

This section is blank until Washington Economic Development Group claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $20K of program spending, described in the organization's own filed words · FY2021.
01

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

$20Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $184K$220K-73% 990 PDF
FY2024 $692K$181K+188% 990 PDF
FY2023 $240K$163K-10% 990 PDF
FY2022 $266K$157K+22% 990 PDF
FY2021 Viewing $218K$148K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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