Wells Main Street Program EIN 83-2509851 Form 990 (PDF) Claim this org

Wells Main Street Program FY2023 filing

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Promotes events, businesses, and tourism to boost the local economy. For fiscal year 2023 it reported $30K in revenue, $27K in expenses, and $346K in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Wells, NV
Filings
5 on file (2020–2023)
Revenue
$30KFY2023
Expenses
$27K
Net assets
$346K
People
1
Filings
5
Updates
0
More identity details & actions ⌄
EIN  83-2509851 Public charity (501(c)(3)) Wells, NV
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Promotes events, businesses, and tourism to boost the local economy.
Leadership
Jolene Supp · Director
Money in and out
$30K revenue, $27K expenses
Bottom line
61% program efficiency
Where the money goes · FY2023
Total revenue
$30K
Pt VIII · Ln 12
Total expenses
$27K
Pt IX · Ln 25
Net assets
$346K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $3K
Where spending went · Part IX cols B–D
Program services $0.61 Management & general $0.34 Fundraising $0.04
Program efficiency
61%
of spending reaches programs
Operating runway
1.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+10%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$30K
FY2023▼ -90%
Expenses
$27K
FY2023▲ +48%
Total assets
$346K
FY2023▲ +3%
Total liabilities
$0
FY2023
Total revenue
$30K
Pt VIII · Ln 12
Total expenses
$27K
Pt IX · Ln 25
Net assets
$346K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$3K
Total assetsPt X · Ln 16$346K
Program-expense ratioPt IX · col B61%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWells Main Street Program
EINHdr · item D83-2509851
Principal addressHdr · item CWells, NV
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNV
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S31)
Ruling yearIRS BMFMay 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
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
See Wells Main Street Program executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $16K of program spending, described in the organization's own filed words · FY2023.
01

Promote the downtown corridor through education and assistance to small business. New building is being used as retail center designed to incubate new business and provide new businesses a basis to create jobs, working capital and longevity.Support local events, public presence & businesses that promote outdoor recreation & agribusiness.

$16Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$23K · 79%
Program service revenue$6K · 21%
Contributions & grants79%$23K
Program service revenue21%$6K
— government grantsLn 1e$21K
Total revenueLn 12$30K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.61 Management & general $0.34 Fundraising $0.04
Program services61%$16K
Management & general34%$9K
Fundraising4%$1K
Total functional expensesLn 25$27K

Balance Sheet

Part X · end of year
CashLn 1$3K
Total assetsLn 16$346K
Total liabilitiesLn 26$0
Total net assetsLn 32$346K
Months of cash on handcomputed1.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3K · Operating expenses (Pt IX) $27K · Less non-cash grants $320 · Cash operating expenses/yr $26K
1.3 months
Where the money goes
Program services
Program services $16K · Total expenses $27K
61%
Management & General
Management & general $9K · Total expenses $27K
34%
Fundraising
Fundraising $1K · Total expenses $27K
4%
Cost to raise $1
Fundraising expense (2-yr avg) $578 · Solicited contributions (2-yr avg) $1K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $23K · Total revenue $30K
79%
Government reliance
Government grants $21K · Total revenue $30K
71%
Earned-income share
Program service revenue $6K · Total revenue $30K
21%
Investment reliance
Investment income $0 · Total revenue $30K
0%
Program self-sufficiency
Program service revenue $6K · Total expenses $27K
23%
Growth & trend
Revenue growth (YoY)
This year $30K · Prior year $305K
-90%
Net-asset trend (YoY)
End of year $346K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $30K · Expenses $27K
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $346K
Net-asset ratio
Net assets $346K · Total assets $346K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $346K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jolene Supp · Reported title Director · Highest reported compensation $0 · Total expenses $27K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $27K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 61%
Overhead ratio 34%
Fundraising cost ratio 5%
Revenue growth -90%
Accounting fee ratio 2%
Fundraising fee ratio 4%

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)$47K revenue · ⤓ 990 PDF
FY2023$30K revenue · viewing · ⤓ 990 PDF
FY2022$305K revenue · ⤓ 990 PDF
FY2021$108K revenue · ⤓ 990 PDF
FY2020$35K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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