WAYNE AREA ECONOMIC DEVELOPMENT INC WAEDI (WAYNE AREA ECONOMIC DEVELOPM (EIN 203524694) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

LUCAS VIRGIL

Phone

4023752240

Tax Period

2023-01-01 to 2023-12-31

WAYNE AREA ECONOMIC DEVELOPMENT INC WAEDI (WAYNE AREA ECONOMIC DEVELOPM, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $318K in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year.

Mission

WAYNE AREA ECONOMIC DEVELOPMENT, INC. PROVIDES A FOCUSED AND INTEGRATED ECONOMIC DEVELOPMENT EFFORT FOR THE GREATER COMMUNITY ON BEHALF OF ALL ITS RESIDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $183,450

Program Service Revenue $125,995

Investment Income $2,150

Other Revenue $6,189

TOTAL REVENUE $317,784

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,558

Fundraising Expenses $0

Program Expenses $95,728

Other Expenses $187,525

TOTAL EXPENSES $336,083

Year-over-Year Comparison

	2023	2022	Change
Revenue	$317,784	$392,694	-0.2%
Expenses	$336,083	$365,166	-0.1%
Net Income	$-18,299	$27,528	-1.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$65,967

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LUCAS VIRGIL	EXECUTIVE DI	40.00	Officer	$55,180	$10,787	$65,967
JILL BRODERSEN	DIRECTOR	1.00	Director	$0	$0	$0
TERRI BUCK	DIRECTOR	1.00	Director	$0	$0	$0
DEAN BURBACH	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN DAVIS	DIRECTOR	1.00	Officer Director	$0	$0	$0
MEGAN FINN	SECRETARY	1.00	Officer Director	$0	$0	$0
DANIELLE GEARHART	DIRECTOR	1.00	Director	$0	$0	$0
BRANDON HALL	DIRECTOR	1.00	Director	$0	$0	$0
KIRBY HALL	TREASURER	1.00	Officer Director	$0	$0	$0
JEANEY HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
MARK LENIHAN	DIRECTOR	1.00	Director	$0	$0	$0
MANDY OLSON	DIRECTOR	1.00	Director	$0	$0	$0
RIA PEDERSEN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
MIKE POWICKI	PRESIDENT	1.00	Officer Director	$0	$0	$0
MARYSZ RAMES	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA URBANEC	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$317,784	$336,083	$361,192	$-18,299
2022	$392,694	$365,166	$356,878	$27,528
2021	$337,459	$353,651	$330,073	$-16,192
2020	$284,108	$284,502	$345,704	$-394
2019	$300,966	$305,467	$341,367	$-4,501

WAYNE AREA ECONOMIC DEVELOPMENT INC WAEDI (WAYNE AREA ECONOMIC DEVELOPM