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Washington Economic Development FY2020 filing

Bogalusa, LAUnknown exempt organization EIN 72-0918553Revenue $96K in FY2020Latest return filed Sep 5, 2024

On file with the IRSwedf.comBogalusa, LA

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To provide Economic Development services for the city of bogalusa & the surrounding Washington parish area.

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-0918553) · Dispute this line
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
The latest return is for FY2023, 3 tax years back.
IRS e-file · Filing history
Spent on programs
85%
of spending
85% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
23.2 mo
of spending, in cash
23.2 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
1% of total assets
Liabilities are 1% of assets.
Pt X · Ln 26
Independent board members
21
of 21 voting members
21 of 21 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$96K
Spent
$114K
To programs
85%
Net assets
$255K
By yearFY2020–FY2023
Revenue
$96K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$96K
FY2021$108K
FY2022$105K
FY2023$23K
Net assets
$255K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$255K
FY2021$238K
FY2022$216K
FY2023Not on file

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $97K Management & general 12% · $14K Fundraising 3% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Tom Knight
2nd Vice Pre
$0Pt VII · Sec A
Mike McNeal
1st Vice Pre
$0Pt VII · Sec A
Mike Parkerson
Past Preside
$0Pt VII · Sec A
Ken Smith
Treasurer
$0Pt VII · Sec A
Chris Workman
Presdient
$0Pt VII · Sec A
See Washington Economic Development executive salaries →

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

Boosts economic growth in Bogalusa and Washington Parish through development services.

Questions for Washington Economic Development

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1 program · $97K · in their own filed words · FY2020
01

To provide economic development services for the city of bogalusa & the surrounding washington parish are

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-0918553) · Dispute this line
$97Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$96K
Ln 12
Fees for servicesLn 2g$84K
Gifts and grantsLn 1h$10K
Investment incomeLn 3$2K
Money outPt IX
$114K
Ln 25
Programscol B$97K
Managementcol C$14K
Fundraisingcol D$3K
Owns and owesPt X
$255K
net assets · Ln 32
Cash and savingsLn 1–2$220K
Total assetsLn 16$258K
LiabilitiesLn 26$3K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$84K
Investment incomeLn 3$2K
Total revenueLn 12$96K
Assets in detailPt X, end of year
CashLn 1$120K
SavingsLn 2$100K
Cash and savings togetherLn 1–2$220K
Accounts receivableLn 4$3K
Prepaid expenses and deferred chargesLn 9$2K
Land, buildings, equipmentLn 10c$34K
Total assetsLn 16$258K
LiabilitiesLn 26$3K
Net assetsLn 32$255K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
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$238K$220K
Land, buildings, equipmentLn 10c$36K$34K
Total assetsLn 16$278K$258K
LiabilitiesLn 26$7K$3K
Net assetsLn 32$272K$255K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$77K$67K$8K$2K
Other employee benefitsLn 9$12K$10K$1K$354
Payroll taxesLn 10$6K$5K$592$178
Accounting feesLn 11c$600$450$150
Office expensesLn 13$2K$1K$485
OccupancyLn 16$4K$3K$1K
Depreciation, depletion and amortizationLn 22$2K$2K$504
InsuranceLn 23$4K$3K$1K
Other expenses (24a–d)Ln 24$6K$4K$1K
Total functional expensesLn 25$114K$97K$14K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 LatestFiled with the IRS Sep 5, 2024 $23K 990 PDF
FY2022Filed with the IRS Oct 26, 2023 $105K$216K 990 PDF
FY2021Filed with the IRS Jul 21, 2022 $108K$238K 990 PDF
FY2020 ViewingFiled with the IRS Nov 2, 2021 $96K$114K−$17K$255K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2020 990
Part I · Summary $96,279 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,285$10,355
I-9 Program service revenuePrior year $83,896$83,920
I-10 Investment incomePrior year $1,915$2,004
I-11 Other revenuePrior year $626$0
I-12 Total revenuePrior year $99,722$96,279
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $95,571$95,002
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $22,035$18,587
I-18 Total expensesPrior year $117,606$113,589
I-19 Revenue less expensesPrior year −$17,884−$17,310
Part VI · Governance 21 of 21 board members independent, 4 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
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 $96,279 across 5 lines filed
VIII-1b Membership dues$10,355
VIII-1h Total contributions, gifts and grants$10,355
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $83,920$83,920
VIII-3 Investment incomeExcluded from tax $2,004$2,004
VIII-12 Total revenueRelated to mission $83,920 · Excluded from tax $2,004$96,279
Part IX · Statement of functional expenses $113,589 across 9 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $67,221 · Management $7,728 · Fundraising $2,318$77,267
IX-9 Other employee benefitsPrograms $10,277 · Management $1,180 · Fundraising $354$11,811
IX-10 Payroll taxesPrograms $5,154 · Management $592 · Fundraising $178$5,924
IX-11c Accounting feesPrograms $450 · Management $150$600
IX-13 Office expensesPrograms $1,455 · Management $485$1,940
IX-16 OccupancyPrograms $3,140 · Management $1,047$4,187
IX-22 Depreciation, depletion and amortizationPrograms $1,509 · Management $504$2,013
IX-23 InsurancePrograms $3,133 · Management $1,045$4,178
IX-24 Other expenses (24a–d)Programs $4,252 · Management $1,417$5,669
IX-25 Total functional expensesPrograms $96,591 · Management $14,148 · Fundraising $2,850$113,589
Part X · Balance sheet $257,574 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $138,180$119,573
X-2 Savings and temporary cash investmentsStart of year $100,000$100,000
X-4 Accounts receivableStart of year $2,854$2,724
X-9 Prepaid expenses and deferred chargesStart of year $1,625$1,618
X-10c Land, buildings and equipment, netStart of year $35,672$33,659
X-16 Total assetsStart of year $278,331$257,574
X-17 Accounts payable and accrued expensesStart of year $6,726$2,599
X-26 Total liabilitiesStart of year $6,726$2,599
X-27 Net assets without donor restrictionsStart of year $271,605$254,975
X-32 Total net assets or fund balancesStart of year $271,605$254,975
X-33 Total liabilities and net assetsStart of year $278,331$257,574
Part XI · Reconciliation of net assets $254,975 net assets at year end
XI-1 Total revenue$96,279
XI-2 Total expenses$113,589
XI-3 Revenue less expenses−$17,310
XI-4 Net assets at start of year$271,605
XI-9 Other changes in net assets$680
XI-10 Net assets at end of year$254,975

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

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