Washington Economic Development Group EIN 42-1276049 Form 990 (PDF) Claim this org

Washington Economic Development Group FY2022 filing

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Promotes economic growth and job creation in the region. For fiscal year 2022 it reported $266K in revenue, $157K in expenses, and $374K in net assets.Pt I

Founded
1986
Type
Business league / trade association · Community Development
Location
Washington, IA
Website
wedg.washingtoniowa.org
Filings
5 on file (2021–2022)
Revenue
$266KFY2022
Expenses
$157K
Net assets
$374K
People
20
Filings
5
Updates
0
More identity details & actions ⌄
EIN  42-1276049 Business league / trade association Washington, IA Founded 1986
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Promotes economic growth and job creation in the region.
Leadership
Mary Audia · Executive Director · $89K
Money in and out
$266K revenue, $157K expenses
Bottom line
+41% operating surplus
Membership & operating revenue · FY2022
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$157K
Pt IX · Ln 25
Net assets
$374K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $109K
Where spending went · Part IX cols B–D
Program services $0.15 Management & general $0.85
Operating surplus
+41%
revenue over expenses
Earned revenue
0.2%
of revenue from program services & dues
Payroll share
60%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$266K
FY2022▲ +22%
Expenses
$157K
FY2022▲ +6%
Total assets
$438K
FY2022▲ +30%
Total liabilities
$64K
FY2022▼ -11%
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$157K
Pt IX · Ln 25
Net assets
$374K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$109K
Total assetsPt X · Ln 16$438K
Program-expense ratioPt IX · col B15%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

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
$88,569Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$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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Mission & Programs · Part III

Where the work happens

1 program service account for $24K of program spending, described in the organization's own filed words · FY2022.
01

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

$24Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$204K · 77%
Investment income$49K · 18%
Other revenue$12K · 5%
Contributions & grants77%$204K
Investment income18%$49K
Other revenue5%$12K
Program service revenue$500
— government grantsLn 1e$113K
Total revenueLn 12$266K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.15 Management & general $0.85
Program services15%$24K
Management & general85%$133K
Total functional expensesLn 25$157K

Balance Sheet

Part X · end of year
CashLn 1$326K
Total assetsLn 16$438K
Total liabilitiesLn 26$64K
Total net assetsLn 32$374K
Months of cash on handcomputed25.0

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $326K · Operating expenses/yr $157K
25.0 months
Where the money goes
Program services
Program services $24K · Total expenses $157K
15%
Management & General
Management & general $133K · Total expenses $157K
85%
Fundraising
Fundraising $0 · Total expenses $157K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $91K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $204K · Total revenue $266K
77%
Government reliance
Government grants $113K · Total revenue $266K
42%
Earned-income share
Program service revenue $500 · Total revenue $266K
0.2%
Investment reliance
Investment income $49K · Total revenue $266K
+18%
Program self-sufficiency
Program service revenue $500 · Total expenses $157K
0.3%
Growth & trend
Revenue growth (YoY)
This year $266K · Prior year $218K
+22%
Net-asset trend (YoY)
End of year $374K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $266K · Expenses $157K
+41%
Liabilities-to-Assets
Total liabilities — · Total assets $438K
Net-asset ratio
Net assets $374K · Total assets $438K
85%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $438K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Mary Audia · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $89K · Total expenses $157K
57%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $95K · Total expenses $157K
60%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 15%
Overhead ratio 85%
Fundraising cost ratio 0%
Revenue growth 22%
Accounting fee ratio 2%

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 · ⤓ 990 PDF
FY2024$692K revenue · ⤓ 990 PDF
FY2023$240K revenue · ⤓ 990 PDF
FY2022$266K revenue · viewing · ⤓ 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) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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