Wayland Economic Development Corp EIN 42-1305986

Wayland Economic Development Corp

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Encourages economic growth and development within the Wayland, Iowa community. For fiscal year 2024 it reported $44K in revenue, $8K in expenses, and $903K in net assets.Pt I

Type
Business league / trade association · Community Development
Location
Wayland, IA
Filings
5 on file (2020–2024)
Revenue
$44KFY2024
Expenses
$8K
Net assets
$903K
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  42-1305986 Business league / trade association Wayland, IA
Form 990 (PDF)
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Size
<$100K
What they do
Encourages economic growth and development within the Wayland, Iowa community.
Leadership
Brad Roth · Director
Money in and out
$44K revenue, $8K expenses
Bottom line
+82% operating surplus
Membership & operating revenue · FY2024
Total revenue
$44K
Pt VIII · Ln 12
Total expenses
$8K
Pt IX · Ln 25
Net assets
$903K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $37K
Where spending went · Part IX cols B–D
Program services $1.00
Operating surplus
+82%
revenue over expenses▼ -9% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Program spending
100%
of expenses reach member services0% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$44K
FY2024▼ -83%
Expenses
$8K
FY2024▼ -69%
Total assets
$1.0M
FY2024▼ -4%
Total liabilities
$123K
FY2024▼ -38%
Total revenue
$44K
Pt VIII · Ln 12
Total expenses
$8K
Pt IX · Ln 25
Net assets
$903K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$37K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

3 program services account for $8K of program spending, described in the organization's own filed words · FY2024.
01

Develop land and property to provide opportunities for business and workers in the area

$8Kprogram expense
02

Provide a space for Health Clinic in Wayland, which is operated by the county hospital.

Pt IX · col B
03

Development of a New Dental office in Wayland

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWayland Economic Development Corp
EINHdr · item D42-1305986
Principal addressHdr · item CWayland, IA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFSep 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
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
Director
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Other revenue$31K · 71%
Investment income$13K · 29%
Other revenue71%$31K
Investment income29%$13K
Total revenueLn 12$44K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$8K
Total functional expensesLn 25$8K

Balance Sheet

Part X · end of year
CashLn 1$197K
Total assetsLn 16$1.0M
Total liabilitiesLn 26$123K
Total net assetsLn 32$903K
Months of cash on handcomputed300.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $197K · Operating expenses/yr $8K
300.9 months
Where the money goes
Program services
Program services $8K · Total expenses $8K
100%
Management & General
Management & general $0 · Total expenses $8K
0%
Fundraising
Fundraising $0 · Total expenses $8K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $522
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $44K
0%
Government reliance
Government grants — · Total revenue $44K
Earned-income share
Program service revenue $0 · Total revenue $44K
0%
Investment reliance
Investment income $13K · Total revenue $44K
+29%
Program self-sufficiency
Program service revenue $0 · Total expenses $8K
0%
Growth & trend
Revenue growth (YoY)
This year $44K · Prior year $267K
-83%
Revenue CAGR
FY2020 $60K · FY2024 $44K
-7%
Net-asset trend (YoY)
End of year $903K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $44K · Expenses $8K
+82%
Liabilities-to-Assets
Total liabilities — · Total assets $1.0M
Net-asset ratio
Net assets $903K · Total assets $1.0M
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brad Roth · Reported title Director · Highest reported compensation $0 · Total expenses $8K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $8K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Revenue growth -83%
Legal fee ratio 0.09%
Accounting fee ratio 10%

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.

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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
FY2024 (Latest)$44K revenue · viewing · ⤓ 990 PDF
FY2023$267K revenue · ⤓ 990 PDF
FY2022$60K revenue · ⤓ 990 PDF
FY2021$54K revenue · ⤓ 990 PDF
FY2020$60K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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