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Wayne County Economic Development Authority FY2020 filing

Not tax-deductible

Wayne, WV501(c)(6)Community Development EIN 55-0741227Revenue $41K in FY2020

On file with the IRSwceda.orgPo Box 519, 25570-0519 · Wayne, WVTax-exempt since Aug 1999

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The Wayne County Economic Development Authority (WCEDA) was established to promote, develop and expand all types of business and industrial activity. This activity will advance and maintain the economic basis of Wayne County. The pursuit of these activities will provide opportunities for employment and improvement in the standard of living for the citizens of Wayne County.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$50K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $25K a year · 25% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$50K
to officers and key staff · 54% of spending
Concern: pay to officers and key staff is 54% of spending; over 30%.
Pt VII · Sec A
Cash reserves
26 mo
of spending, in cash
Looks good: 25.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41K
Spent
$92K
To programs
0%
Net assets
$197K
By yearFY2020–FY2025
Revenue
$41K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$41K
FY2021$105K
FY2022$286K
FY2023$26K
FY2024$106K
FY2025$37K
Expenses
$92K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$92K
FY2021$101K
FY2022$58K
FY2023$35K
FY2024$116K
FY2025$45K
Net assets
$197K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$197K
FY2021$202K
FY2022$429K
FY2023$408K
FY2024$398K
FY2025$389K

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

5 people listed on the 990; $50K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Park Ferguson
Past Executive Director
$50,000Pt VII · Sec A
Larry Castle
President
$0Pt VII · Sec A
Xan Mooney
Vice-President
$0Pt VII · Sec A
Stanley Fink
Secretary
$0Pt VII · Sec A
Ryan Turner
Treasurer
$0Pt VII · Sec A

Park Ferguson’s $50K as Past Executive Director is at the 85th percentile of top reported officer pay among 168 <$100K 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.

See Wayne County Economic Development Authority executive salaries →

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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 15aNo

Programs and updates

Promotes, develops, and expands business to create jobs and improve living standards.

Questions for Wayne County Economic Development Authority

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Provided by the organization

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1 program · $92K · in their own filed words · FY2019
01

Promotion of and assistance in the economic development of Wayne County.

$92Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$41K
Ln 12
Gifts and grantsLn 1h$40K
Investment incomeLn 3$1K
Other incomeLn 4–11$200
Money outPt IX
$92K
Ln 25
Owns and owesPt X
$197K
net assets · Ln 32
Cash and savingsLn 1–2$197K
Total assetsLn 16$197K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$40K
Government grantsLn 1e$25K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$1K
Other incomeLn 4–11$200
Total revenueLn 12$41K
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$182K
Cash and savings togetherLn 1–2$197K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$197K
LiabilitiesLn 26$0
Net assetsLn 32$197K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$222K$197K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$248K$197K
LiabilitiesLn 26$0$0
Net assetsLn 32$248K$197K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$50K
Payroll taxesLn 10$2K
Accounting feesLn 11c$3K
Advertising and promotionLn 12$3K
Office expensesLn 13$2K
OccupancyLn 16$10K
TravelLn 17$3K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$15K
All other expensesLn 24e$1K
Total functional expensesLn 25$92K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $37K$45K−$9K$389K 990 PDF
FY2024 $106K$116K−$10K$398K 990 PDF
FY2023 $26K$35K−$10K$408K 990 PDF
FY2022 $286K$58K$227K$429K 990 PDF
FY2021 $105K$101K$5K$202K 990 PDF
FY2020 Viewing $41K$92K−$51K$197K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $41,134 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $56,358$39,834
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,100$1,100
I-11 Other revenuePrior year $135$200
I-12 Total revenuePrior year $57,593$41,134
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $88,077$52,207
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $40,600$40,211
I-18 Total expensesPrior year $128,677$92,418
I-19 Revenue less expensesPrior year −$71,084−$51,284
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $41,134 across 11 lines filed
Lines not itemized here account for $200 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$24,632
VIII-1f All other contributions, gifts and grants$15,202
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$39,834
VIII-3 Investment incomeRelated to mission $1,100 · Unrelated business $0 · Excluded from tax $0$1,100
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $1,300 · Unrelated business $0 · Excluded from tax $0$41,134
Part IX · Statement of functional expenses $92,418 across 10 lines filed
IX-5 Pay of current officers, directors and key staff$50,000
IX-10 Payroll taxes$2,207
IX-11c Accounting fees$3,000
IX-12 Advertising and promotion$3,000
IX-13 Office expenses$2,000
IX-16 Occupancy$10,000
IX-17 Travel$3,000
IX-23 Insurance$3,000
IX-24 Other expenses (24a–d)$15,000
IX-24e All other expenses$1,211
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$92,418
Part X · Balance sheet $197,174 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $20,390$15,189
X-2 Savings and temporary cash investmentsStart of year $202,029$181,985
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $248,458$197,174
X-17 Accounts payable and accrued expensesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $248,458$197,174
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $248,458$197,174
X-33 Total liabilities and net assetsStart of year $248,458$197,174
Part XI · Reconciliation of net assets $197,174 net assets at year end
XI-1 Total revenue$41,134
XI-2 Total expenses$92,418
XI-3 Revenue less expenses−$51,284
XI-4 Net assets at start of year$248,458
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$197,174

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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