Civic Intelligence

Watson Economic Development Associates Inc

EIN 81-2701014 • 501(c)3 • Ellicott City, MD

Profile

Enhance the standard of livng; provide jobs & resources; retain, attrct & expand small business opptunites; stimulte the local econmy thru neighd

2415 Sand Hill RoadEllicott City, MD 21042

wedaus.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.68x

Higher debt load relative to assets than 89% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

3.12x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

21st percentile

-13%

Higher net margin than 21% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

32nd percentile

-3.6%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-19%

Faster revenue growth than 18% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$716,420

Down $26,433 (-3.6%) from 2023

Liabilities

Down

$485,552

Down $52,272 (-9.7%) from 2023

Net Assets

Up

$230,868

Up $25,839 (+13%) from 2023

Revenue

Down

$155,857

Down $36,425 (-19%) from 2023

Expenses

Down

$175,529

Down $16,753 (-8.7%) from 2023

Net Income

Down

-$19,672

Down $19,672 from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $309,065Liabilities 2021: $236,000Net Assets 2021: $73,0652021Assets 2022: $726,903Liabilities 2022: $545,065Net Assets 2022: $181,8382022Assets 2023: $742,853Liabilities 2023: $537,824Net Assets 2023: $205,0292023Assets 2024: $716,420Liabilities 2024: $485,552Net Assets 2024: $230,8682024

Highlighted filing

2024

Assets$716,420
Liabilities$485,552
Net Assets$230,868

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$100K$0-$100KRevenue 2019: $39,153Expenses 2019: $39,153Net Income 2019: $02019Revenue 2020: $20,652Expenses 2020: $20,652Net Income 2020: $02020Revenue 2021: $101,528Expenses 2021: $28,463Net Income 2021: $73,0652021Revenue 2022: $128,660Expenses 2022: $128,660Net Income 2022: $02022Revenue 2023: $192,282Expenses 2023: $192,282Net Income 2023: $02023Revenue 2024: $155,857Expenses 2024: $175,529Net Income 2024: -$19,6722024

Highlighted filing

2024

Revenue$155,857
Expenses$175,529
Net Income-$19,672

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 26, 2025
Return Version
2024v5.2
Gross Receipts
$155,857
Mission and Program Overview

Mission

Enhance the standard of livng; provide jobs & resources; retain, attrct & expand small business opptunites; stimulte the local econmy thru neighd

Enhance the standrd of livng; provide jobs & resorcs; retain, attrct & expnd small busines opptunites; stimulte the local econmy thru neighborhood

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$742,853$716,420▼ $26,433
Rtn Earn Endowment Incm Other Fnds$205,029$230,868▲ $25,839
Total Assets$742,853$716,420▼ $26,433
Liabilities
Mortgage Notes Payable Secured by Investment Property$537,824$485,552▼ $52,272
Total Liabilities$537,824$485,552▼ $52,272
Net Assets / Fund Balance
Total Net Assets Fund Balance$205,029$230,868▲ $25,839
Total Liabilities and Net Assets / Fund Balance$742,853$716,420▼ $26,433

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$682,012$26,433-
Land$34,408--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ryan WatsonVice President
Latonya WatsonAccount/finance Manager
Steven WatsonCEO
Connor AhlbornSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$155,857
Change in Net Assets
$-19,672
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$175,529
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$19,672$32,752-$52,424
Office Expenses$17,698$20,294-$37,992
Insurance-$8,074-$8,074
Advertising$3,250--$3,250
Conferences and Meetings-$2,750-$2,750
Travel-$1,434-$1,434
Total Functional Expenses$97,588$77,941$0$175,529
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
Lobbying activity
No
Subject to proxy tax
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI, Section A, Line 2

Ceo and account/finance manager are husband and wife

Part VI, Section A, Line 6

4 BOARD MEMBERS

PART VI, SECTION A, LINE 7A

Elections of board members held every two years

PART VI, SECTION A, LINE 8A

The recording secretary takes minutes for all meetings

PART VI, SECTION A, LINE 8B

The recording secretary takes minutes for all meetings

Part VI, Section A, Line 9

Connor ahlborn, secretary, 7524 arlington blvd, falls church va.22042 ryan watson, vice president, 1815 gough street, baltimore, md 21231 latonya watson, accountant, finance manager, 2415 sand hill road, ellicott city, md 21042 steven watson, ceo, 2415 sand hill road, ellicott city, md 21042

Part VI, Section B, Line 11

Copy of 990 provided in hand to each member of the governing body

PART VI, SECTION B, LINE 12C

Each board member is required to report any and all involvements and incomes that may be in conflict with the conflict of interest policy at the nd of each year

Part VI, Section C, Line 18

UPON REQUEST

Part VI, Section C, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Watson Economic Development Associates Inc
EIN
81-2701014
Phone
2026845274
Address
2415 SAND HILL ROAD, ELLICOTT CITY, MD 21042

Signing Officer

Name
Steven L Watson
Title
CEO
Phone
2026845274
Signed
2025-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Watson
Formed
2016
Legal Domicile
Md
Voting Board Members
0
Independent Board Members
4
Employees
0

Preparer

Firm
Barclays Tax Services Inc
Address
5109 HARFORD ROAD, BALTIMORE, MD 21214
Preparer
Sarah a Bland Barclay
Phone
4102548297
Supplemental Narrative

Additional Explanations

Part XI, Line 9

DEPRECIATION EXPENSE

Raw XML Appendix320 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14 BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELECTIONS OF BOARD MEMBERS HELD EVERY TWO YEARS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE RECORDING SECRETARY TAKES MINUTES FOR ALL MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE RECORDING SECRETARY TAKES MINUTES FOR ALL MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONNOR AHLBORN, SECRETARY, 7524 ARLINGTON BLVD, FALLS CHURCH VA.22042 RYAN WATSON, VICE PRESIDENT, 1815 GOUGH STREET, BALTIMORE, MD 21231 LATONYA WATSON, ACCOUNTANT, FINANCE MANAGER, 2415 SAND HILL ROAD, ELLICOTT CITY, MD 21042 STEVEN WATSON, CEO, 2415 SAND HILL ROAD, ELLICOTT CITY, MD 21042
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COPY OF 990 PROVIDED IN HAND TO EACH MEMBER OF THE GOVERNING BODY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7EACH BOARD MEMBER IS REQUIRED TO REPORT ANY AND ALL INVOLVEMENTS AND INCOMES THAT MAY BE IN CONFLICT WITH THE CONFLICT OF INTEREST POLICY AT THE ND OF EACH YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10DEPRECIATION EXPENSE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION A, LINE 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION A, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, SECTION A, LINE 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART VI, SECTION A, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PART VI, SECTION B, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10PART XI, LINE 9
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IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WEDAUS.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVEN L WATSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02026845274
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATSON ECONOMIC DEVELOPMENT ASSOCIATES INC
ReturnHeader/Filer/BusinessNameControlTxt0WATS
ReturnHeader/Filer/EIN0812701014
ReturnHeader/Filer/PhoneNum02026845274
ReturnHeader/Filer/USAddress/AddressLine1Txt02415 SAND HILL ROAD
ReturnHeader/Filer/USAddress/CityNm0ELLICOTT CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021042
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521971932
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BARCLAYS TAX SERVICES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05109 HARFORD ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BALTIMORE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021214
ReturnHeader/PreparerPersonGrp/PhoneNum04102548297
ReturnHeader/PreparerPersonGrp/PreparationDt02025-08-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH A BLAND BARCLAY
ReturnHeader/ReturnTs02025-09-30T21:07:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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