Nonprofit · EIN 42-1263254
WAVERLY ECONOMIC DEVELOPMENT CO
Tax-exempt · WAVERLY, IA 50677
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $16,957 | $5,315 | $11,642 | $990,023 | $0 | $990,023 |
| December 31, 2023 | 990 | $17,987 | $531 | $17,456 | $978,381 | $0 | $978,381 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $10,120
- Investment income
- $6,837
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $450
- Program services (functional)
- $4,865
- Management and general (functional)
- $450
Balance sheet and other
- Total assets, start of year
- $978,381
- Total assets, end of year
- $990,023
- Total liabilities, end of year
- $0
- Net assets, end of year
- $990,023
- Net assets without donor restrictions
- $990,023
- Gross receipts
- $16,957
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2001
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LEVI EPLEY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| LUKE KNUTSON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| CONNIE TOLAN | SECRETARY Trustee or director, Officer | 1 | $0 |
| CHELSEA PETERSEN | TREASURER Trustee or director, Officer | 1 | $0 |
| STEVE WILLEMSSEN | MEMBER Trustee or director | 1 | $0 |
| ADAM SCHAUFENBUEL | MEMBER Trustee or director | 1 | $0 |
| MARV SCHUMACHER | MEMBER Trustee or director | 1 | $0 |
| TOM GRIESE | MEMBER Trustee or director | 1 | $0 |
| DAN WEDEMEIER | MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID HUBER | PRESIDENT Trustee or director, Officer | 1 | $0 |
| LEVI EPLEY | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| CONNIE TOLAN | SECRETARY Trustee or director, Officer | 1 | $0 |
| TRAVIS TOLIVER | TREASURER Trustee or director, Officer | 1 | $0 |
| MARV SCHUMACHER | MEMBER Trustee or director | 1 | $0 |
| DARREL WENZEL | MEMBER Trustee or director | 1 | $0 |
| LUKE KNUTSON | MEMBER Trustee or director | 1 | $0 |
| TOM GRIESE | MEMBER Trustee or director | 1 | $0 |
| KEN KAMMEYER | MEMBER Trustee or director | 1 | $0 |
| DAN WEDEMEIER | MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 118 E BREMER AVENUE, WAVERLY, IA 50677-3401
- Principal officer (990 for 2024)
- CHELSEA PETERSEN, 118 E BREMER AVENUE, WAVERLY, IA 50677
- Signed the 990
- CHELSEA PETERSEN, TREASURER
- Phone
- (319) 352-4526
- Return prepared by
- Keith Oltrogge CPA PC
Mission
COMMUNITY ECONOMIC DEVELOPMENT AND LOW INTEREST LOANS.
Program accomplishments
- LOW INTEREST ECONOMIC DEVELOPMENT LOANS.Expenses $4,865 · revenue $10,120
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 42-1263254
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $990,023
- Income (IRS master file)
- $16,957
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $16,957 | $5,315 | $990,023 | XML |
| 990 | December 2023 | $17,987 | $531 | $978,381 | XML |
| 990 | December 2022 | $14,906 | $6,150 | $960,925 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1263254).
Questions about WAVERLY ECONOMIC DEVELOPMENT CO
- What is the EIN of WAVERLY ECONOMIC DEVELOPMENT CO?
- The employer identification number (EIN) of WAVERLY ECONOMIC DEVELOPMENT CO is 42-1263254.
- Is WAVERLY ECONOMIC DEVELOPMENT CO tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
- Are donations to WAVERLY ECONOMIC DEVELOPMENT CO tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WAVERLY ECONOMIC DEVELOPMENT CO file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of WAVERLY ECONOMIC DEVELOPMENT CO due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WAVERLY ECONOMIC DEVELOPMENT CO last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WAVERLY ECONOMIC DEVELOPMENT CO?
- The 990 for the year ended December 31, 2024 names CHELSEA PETERSEN.
- Who are the officers and directors of WAVERLY ECONOMIC DEVELOPMENT CO?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does WAVERLY ECONOMIC DEVELOPMENT CO have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $16,957, expenses of $5,315 and total assets of $990,023 at year end.
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