WAYNE ECONOMIC DEVELOPMENT COUNCIL INC

EIN: 341686471

WOOSTER, OH

Total Revenue
$716,236
Total Expenses
$625,791
Total Assets
$277,419
Net Assets
$271,146
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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
1991
Legal Domicile
OH
Principal Officer
EDDIE STEINER
Phone
3302642411
Tax Period
2023-01-01 to 2023-12-31

WAYNE ECONOMIC DEVELOPMENT COUNCIL INC, founded in 1991, is a small nonprofit that reported $716K in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $626K left a modest 13% surplus.

Mission

TO MAXIMIZE THE DEVELOPMENT AND UTILIZATION OF THE HUMAN AND ECONOMIC RESOURCES OF THE WAYNE COUNTY GEORGRAPHICAL AREA IN ORDER TO CREATE OR PRESERVE JOBS AND EMPLOYMENT OPPORTUNITIES AND IMPROVE THE WELFARE OF PEOPLE OF THE AREA.

Program Service Accomplishments

Program 1
Expenses: $481,849 Revenue: $19,820

COORDINATE AND INTEGRATE THE ACTIVITIES OF GOVERNMENTAL, EDUCATIONAL AND COMMUNITY ORGANIZATIONS WHOSE STATED PURPOSES INCLUDE THE RETENTION AND EXPANSION OF EXISTING BUSINESS AND INDUSTRY IN WAYNE...

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COORDINATE AND INTEGRATE THE ACTIVITIES OF GOVERNMENTAL, EDUCATIONAL AND COMMUNITY ORGANIZATIONS WHOSE STATED PURPOSES INCLUDE THE RETENTION AND EXPANSION OF EXISTING BUSINESS AND INDUSTRY IN WAYNE COUNTY, OHIO.PROMOTE AND ATTRACT NEW BUSINESS AND INDUSTRY TO WAYNE COUNTY BY ACTING AS A LIASON FOR PROSPECTIVE NON-RETAIL EMPLOYERS WITH EDUCATIONAL COMMUNITY AND STATE AND LOCAL GOVERNMENT ENTITIES.ATTEND, PARTICIPATE IN, AND ORGANIZE COMMUNITY MEETINGS AND FORUMS TO COMMUNICATE AWARENESS OF CURRENT EVENTS AND QUALITY GROWTH ISSUES IMPACTING WAYNE COUNTY, OHIOTHOUSANDS OF WAYNE COUNTY INDIVIDUAL AND BUSINESS RESIDENTS BENEFIT FROM WEDC'S EFFORTS TO IMPROVE THE COMMUNITY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $694,250
Program Service Revenue $19,820
Investment Income $2,166
Other Revenue $0
TOTAL REVENUE $716,236

Expense Breakdown

Grants Paid $0
Salaries & Benefits $362,020
Fundraising Expenses $6,199
Program Expenses $481,849
Other Expenses $263,771
TOTAL EXPENSES $625,791

Year-over-Year Comparison

2023 2022 Change
Revenue $716,236 $489,151 +0.5%
Expenses $625,791 $645,225 0.0%
Net Income $90,445 $-156,074 -1.6%
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

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Governance

Voting Members
35
Independent Members
35
Employees
5
Volunteers
36

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
5
$158,556
Total Directors
16
$158,556
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARIBETH BURNS PRESIDENT 40.00
Officer Director
$146,665 $11,891 $158,556
LESLEY MAST CHAIRMAN 2.00
Officer Director
$0 $0 $0
JEFF SCHWARTZ VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
DON NOBLE PAST CHAIRMAN 2.00
Officer Director
$0 $0 $0
EDDIE STEINER TREASURER 2.00
Officer Director
$0 $0 $0
RANDY KITZMILLER BOARD MEMBER 2.00
Director
$0 $0 $0
KEVIN TRENT BOARD MEMBER 2.00
Director
$0 $0 $0
JOHN NICHOLAS BOARD MEMBER 2.00
Director
$0 $0 $0
LYNN MOOMAW BOARD MEMBER 2.00
Director
$0 $0 $0
KURT STEINER BOARD MEMBER 2.00
Director
$0 $0 $0
BOB BRENEMAN BOARD MEMBER 2.00
Director
$0 $0 $0
DAVE HANDWERK BOARD MEMBER 2.00
Director
$0 $0 $0
BILL ROBERTSON BOARD MEMBER 2.00
Director
$0 $0 $0
RON AMSTUTZ BOARD MEMBER 2.00
Director
$0 $0 $0
BEN MAIBACH BOARD MEMBER 2.00
Director
$0 $0 $0
MIKE TOTH BOARD MEMBER 2.00
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 $716,236 $625,791 $277,419 $90,445
2022 $489,151 $645,225 $186,574 $-156,074
2021 $548,248 $546,528 $340,461 $1,720
2020 $561,646 $480,967 $341,273 $80,679
2019 $635,141 $561,646 $270,556 $73,495
2018 $557,352 $655,844 $182,197 $-98,492
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