Civic Intelligence

Watson Economic Development Associates Inc.

990 • Fiscal year 2022 • EIN 81-2701014

Jan 01, 2022 to Dec 31, 2022 • Filed on May 22, 2023

Organization ProfileWEDAUS.COM
2415 Sand Hill RoadEllicott City, MD 21042

(202) 684-5274

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.75x

Higher debt load relative to assets than 92% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

4.24x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

37th percentile

0.0%

Higher net margin than 37% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

94th percentile

135%

Faster asset growth than 94% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

67th percentile

27%

Faster revenue growth than 67% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$726,903

Up $417,838 (+135%) from 2021

Net Assets

Up

$181,838

Up $108,773 (+149%) from 2021

Liabilities

Up

$545,065

Up $309,065 (+131%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin37th percentile

Revenue

Up

$128,660

Up $27,132 (+27%) from 2021

Expenses

Up

$128,660

Up $100,197 (+352%) from 2021

Net Income

Down

$0

Down $73,065 (-100%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$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

2022

Assets$726,903
Liabilities$545,065
Net Assets$181,838
Open 2022 Filing

Operations Trend

Revenue Growth67th percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$128,660
Expenses$128,660
Net Income$0
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 22, 2023
Return Version
2022v5.0
Gross Receipts
$128,660
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$309,065$726,903▲ $417,838
Rtn Earn Endowment Incm Other Fnds$73,065$181,838▲ $108,773
Total Assets$309,065$726,903▲ $417,838
Liabilities
Mortgage Notes Payable Secured by Investment Property$236,000$545,065▲ $309,065
Total Liabilities$236,000$545,065▲ $309,065
Net Assets / Fund Balance
Total Net Assets Fund Balance$73,065$181,838▲ $108,773
Total Liabilities and Net Assets / Fund Balance$309,065$726,903▲ $417,838

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$726,903--
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$128,660
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$128,660
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$128,660
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
Office Expenses$45,954$9,857-$55,811
All Other Expenses-$30,513-$30,513
Other Expenses$20,972$10,339-$10,339
Insurance$7,016--$7,016
Advertising-$350-$350
Total Functional Expenses$76,249$52,411$0$128,660
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

“Election 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 end 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
2023-05-22
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
Address
5109 HARFORD ROAD, BALTIMORE, MD 21214
Preparer
Sarah a Bland Barclay
Phone
4102548297
Supplemental Narrative

Additional Explanations

PART IX, LINE 24E

“meals at 236 with 50 percent equals 118”

Raw XML Appendix312 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/ExplanationTxt0CEO AND ACCOUNT/FINANCE MANAGER ARE HUSBAND AND WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14 BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELECTION 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 END OF EACH YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10meals at 236 with 50 percent equals 118
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 IX, LINE 24e
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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
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05109 HARFORD ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BALTIMORE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021214
ReturnHeader/PreparerPersonGrp/PhoneNum04102548297
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH A BLAND BARCLAY
ReturnHeader/ReturnTs02023-05-28T13:55:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEVEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WATSON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$726,903
Liabilities
$545,065
Net assets
$181,838
Revenue
$128,660
Expenses
$128,660
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.16$4.86$2.31$1.56$1.76$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.43$5.38$2.05$1.92$1.92$0.00
2022Detailed filing. Detailed filing data is available for this year.$7.27$5.45$1.82$1.29$1.29$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.09$2.36$0.73$1.02$0.28$0.73
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.21$0.21$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.39$0.39$0.00