Civic Intelligence

Wayne Area Economic Development Inc

990 • Fiscal year 2020 • EIN 20-3524694

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

108 W 3rd StWayne, NE 68787

(402) 375-2240

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.03x

Higher debt load relative to assets than 60% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.03x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

44th percentile

-0.1%

Higher net margin than 44% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

89th percentile

$64,079

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 22.6% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

47th percentile

1.3%

Faster asset growth than 47% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

69th percentile

-5.6%

Faster revenue growth than 69% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$345,704

Up $4,337 (+1.3%) from 2019

Net Assets

Down

$336,701

Down $394 (-0.1%) from 2019

Liabilities

Up

$9,003

Up $4,731 (+111%) from 2019

Revenue

Down

$284,108

Down $16,858 (-5.6%) from 2019

Expenses

Down

$284,502

Down $20,965 (-6.9%) from 2019

Net Income

Up

-$394

Up $4,107 (+91%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2011: $314,212Liabilities 2011: $3,271Net Assets 2011: $310,9412011Assets 2012: $477,531Liabilities 2012: $152,468Net Assets 2012: $325,0632012Assets 2013: $338,671Liabilities 2013: $2,652Net Assets 2013: $336,0192013Assets 2014: $372,640Liabilities 2014: $2,936Net Assets 2014: $369,7042014Assets 2015: $357,476Liabilities 2015: $3,255Net Assets 2015: $354,2212015Assets 2016: $342,822Liabilities 2016: $2,831Net Assets 2016: $339,9912016Assets 2017: $379,184Liabilities 2017: $3,573Net Assets 2017: $375,6112017Assets 2018: $351,716Liabilities 2018: $120Net Assets 2018: $351,5962018Assets 2019: $341,367Liabilities 2019: $4,272Net Assets 2019: $337,0952019Assets 2020: $345,704Liabilities 2020: $9,003Net Assets 2020: $336,7012020Assets 2021: $330,073Liabilities 2021: $9,564Net Assets 2021: $320,5092021Assets 2022: $356,878Liabilities 2022: $8,841Net Assets 2022: $348,0372022Assets 2023: $361,192Liabilities 2023: $21,244Net Assets 2023: $339,9482023Assets 2024: $331,507Liabilities 2024: $0Net Assets 2024: $331,5072024

Highlighted filing

2020

Assets$345,704
Liabilities$9,003
Net Assets$336,701

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $354,839Expenses 2011: $307,181Net Income 2011: $47,6582011Revenue 2012: $426,004Expenses 2012: $411,882Net Income 2012: $14,1222012Revenue 2013: $282,827Expenses 2013: $274,888Net Income 2013: $7,9392013Revenue 2014: $308,473Expenses 2014: $274,788Net Income 2014: $33,6852014Revenue 2015: $272,576Expenses 2015: $288,059Net Income 2015: -$15,4832015Revenue 2016: $274,620Expenses 2016: $288,850Net Income 2016: -$14,2302016Revenue 2017: $317,128Expenses 2017: $281,508Net Income 2017: $35,6202017Revenue 2018: $278,545Expenses 2018: $302,560Net Income 2018: -$24,0152018Revenue 2019: $300,966Expenses 2019: $305,467Net Income 2019: -$4,5012019Revenue 2020: $284,108Expenses 2020: $284,502Net Income 2020: -$3942020Revenue 2021: $337,459Expenses 2021: $353,651Net Income 2021: -$16,1922021Revenue 2022: $392,694Expenses 2022: $365,166Net Income 2022: $27,5282022Revenue 2023: $317,784Expenses 2023: $336,083Net Income 2023: -$18,2992023Revenue 2024: $198,752Expenses 2024: $192,176Net Income 2024: $6,5762024

Highlighted filing

2020

Revenue$284,108
Expenses$284,502
Net Income-$394
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$284,108
Mission and Program Overview

Mission

Wayne area economic development, inc. Provides a focused and integrated economic development effort for the greater community on behalf of all its residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$337,095$336,701▼ $394
Other Notes and Loans Receivable, Net$228,465$231,843▲ $3,378
Savings and Temporary Cash Investments$94,027$94,041▲ $14
Investments in Publicly Traded Securities$11,843$13,118▲ $1,275
Cash and Non-Interest-Bearing Accounts$1,718$6,965▲ $5,247
Accounts Receivable$5,314$-263▼ $5,577
Total Assets$341,367$345,704▲ $4,337
Liabilities
Other Liabilities$4,272$9,003▲ $4,731
Total Liabilities$4,272$9,003▲ $4,731
Net Assets / Fund Balance
Total Net Assets Fund Balance$337,095$336,701▼ $394
Total Liabilities and Net Assets / Fund Balance$341,367$345,704▲ $4,337
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lucas VirgilExecutive DiFT$64,079$64,079
Irene FletcherOfficerFT$43,192$43,192
Abby SchademannOfficerFT$34,750$34,750

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$212,057
Program Service Revenue
$67,077
Investment Income
$774
Other Revenue
$4,200
Change in Net Assets
$-394
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$170,851
Other Expenses$113,651
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$154,518
Fees for Services Other---$16,750
Other Employee Benefits---$15,813
Office Expenses---$11,012
Occupancy---$9,254
Insurance---$5,692
Other Expenses---$3,398
All Other Expenses---$2,147
Travel---$2,072
Fees for Services Legal---$1,356
Payroll Taxes---$466
Pension Plan Contributions---$54
Fees for Services Accounting---$13
Total Functional Expenses$0$0$0$284,502
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$7,523
Reimbursement Not Yet Expensed$1,480
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

This organization has 15 board members.

Form 990, Page 6, Part VI, Line 7A

This board is elected annually by the members.

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

All officers must sign a memorandum or understanding.

Form 990, Page 6, Part VI, Line 15A

LUCAS VIRGIL

Form 990, Page 6, Part VI, Line 15B

The board reviews the salaries for similar positions in the area.

Form 990, Page 6, Part VI, Line 19

This organization provides all information to the public upon request.

Form 990, Part VII

Luke virgil, irene fletcher, and abby schademann oversee the daily operations, whereas the remaining board members attend monthly meetings and partake in related activites.

Filing and Contact Details

Filer

Filer Name
Wayne Area Economic Development Inc
EIN
20-3524694
Phone
4023752240
Address
108 W 3RD ST, WAYNE, NE 68787

Signing Officer

Name
Lucas Virgil
Title
Executive Director
Phone
4023752240
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lucas Virgil
Formed
2005
Legal Domicile
Ne
Voting Board Members
15
Independent Board Members
15
Employees
3
Volunteers
200

Preparer

Firm
Cruise & Associates Inc
Address
3023 13TH ST PO BOX 726, COLUMBUS, NE 68601
Preparer
Jayme Lovercheck
Phone
4025645827
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

OTHER

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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0LUCAS VIRGIL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt067077
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt067077
IRS990/ProgSrvcAccomActy2Grp/Desc0VENDER GOLF IS A GOLF FUNDRAISER HELD ANNUALLY IN JULY TO PROMOTE COMMUNITY INVOLVEMENT AMONG THE PEOPLE OF THE COMMUNITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt09603
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt012009
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt037556
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt034565
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0204210
IRS990/PYInvestmentIncomeAmt01501
IRS990/PYOtherExpensesAmt0135127
IRS990/PYOtherRevenueAmt04200
IRS990/PYProgramServiceRevenueAmt091055
IRS990/PYRevenuesLessExpensesAmt0-4501
IRS990/PYSalariesCompEmpBnftPaidAmt0170340
IRS990/PYTotalExpensesAmt0305467
IRS990/PYTotalRevenueAmt0300966
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-394
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt04200
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt020503
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0337095
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0336701
IRS990/SavingsAndTempCashInvstGrp/BOYAmt094027
IRS990/SavingsAndTempCashInvstGrp/EOYAmt094041
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07523
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11480
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REIMBURSEMENT NOT YET EXPENSED
IRS990ScheduleD/TotalLiabilityAmt09003
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIS ORGANIZATION HAS 15 BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THIS BOARD IS ELECTED ANNUALLY BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL OFFICERS MUST SIGN A MEMORANDUM OR UNDERSTANDING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LUCAS VIRGIL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD REVIEWS THE SALARIES FOR SIMILAR POSITIONS IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THIS ORGANIZATION PROVIDES ALL INFORMATION TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8LUKE VIRGIL, IRENE FLETCHER, AND ABBY SCHADEMANN OVERSEE THE DAILY OPERATIONS, WHEREAS THE REMAINING BOARD MEMBERS ATTEND MONTHLY MEETINGS AND PARTAKE IN RELATED ACTIVITES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VII
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0341367
IRS990/TotalAssetsEOYAmt0345704
IRS990/TotalAssetsGrp/BOYAmt0341367
IRS990/TotalAssetsGrp/EOYAmt0345704
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0212057
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0284502
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04272
IRS990/TotalLiabilitiesEOYAmt09003
IRS990/TotalLiabilitiesGrp/BOYAmt04272
IRS990/TotalLiabilitiesGrp/EOYAmt09003
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0337095
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0336701
IRS990/TotalOtherProgSrvcExpenseAmt037556
IRS990/TotalOtherProgSrvcRevenueAmt034565
IRS990/TotalProgramServiceExpensesAmt061957
IRS990/TotalProgramServiceRevenueAmt067077
IRS990/TotalReportableCompFromOrgAmt0142021
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt072051
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0284108
IRS990/TotalVolunteersCnt0200
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0341367
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0345704
IRS990/TravelGrp/TotalAmt02072
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0527 DONNER PASS
IRS990/USAddress/CityNm0WAYNE
IRS990/USAddress/StateAbbreviationCd0NE
IRS990/USAddress/ZIPCd068787
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LUCAS VIRGIL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04023752240
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WAYNE AREA ECONOMIC DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0WAYN
ReturnHeader/Filer/EIN0203524694
ReturnHeader/Filer/PhoneNum04023752240
ReturnHeader/Filer/USAddress/AddressLine1Txt0108 W 3RD ST
ReturnHeader/Filer/USAddress/CityNm0WAYNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NE
ReturnHeader/Filer/USAddress/ZIPCd068787
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470719555
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRUISE & ASSOCIATES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03023 13TH ST PO BOX 726
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBUS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd068601
ReturnHeader/PreparerPersonGrp/PhoneNum04025645827
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAYME LOVERCHECK

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.32$0.00$3.32$1.99$1.92$0.07
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.61$0.21$3.40$3.18$3.36$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.57$0.09$3.48$3.93$3.65$0.28
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.30$0.10$3.21$3.37$3.54$0.16
2020Detailed filing. Detailed filing data is available for this year.$3.46$0.09$3.37$2.84$2.85$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.41$0.04$3.37$3.01$3.05$0.05
2018Summary only. Only limited summary data is available for this year.$3.52$0.00$3.52$2.79$3.03$0.24
2017Summary only. Only limited summary data is available for this year.$3.79$0.04$3.76$3.17$2.82$0.36
2016Summary only. Only limited summary data is available for this year.$3.43$0.03$3.40$2.75$2.89$0.14
2015Summary only. Only limited summary data is available for this year.$3.57$0.03$3.54$2.73$2.88$0.15
2014Summary only. Only limited summary data is available for this year.$3.73$0.03$3.70$3.08$2.75$0.34
2013Summary only. Only limited summary data is available for this year.$3.39$0.03$3.36$2.83$2.75$0.08
2012Summary only. Only limited summary data is available for this year.$4.78$1.52$3.25$4.26$4.12$0.14
2011Summary only. Only limited summary data is available for this year.$3.14$0.03$3.11$3.55$3.07$0.48
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)6 • <$500k nonprofits