Wayne Economic Development Corp

Analysis

Wayne Economic Development Corp is a registered charity in United States, based in Lyons, NY. It received its IRS tax-exemption ruling in April 2010, 16 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wayne Economic Development Corp reported income of $1.0m and spending of $997k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $1.0m (-2.2%), an average of -0.6% a year. The sharpest change came in the year to December 2020, when income rose by 265%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wayne Economic Development Corp sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include The Woodlands Area Economic Development Partnership ($1.0m), Public Force ($1.0m) and Union Project ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.8% and program service revenue 4.0% of the total. At year end it held assets of $7.5m against liabilities of $446k, net assets of $7.1m.