Wakarusa Valley Development Inc

Nonprofit profile at a glance

EIN
481029610
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Lawrence, KS, USA
Phone
7857497600
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$433,935
Expenses
$378,999
Assets
$810,630
Liabilities
$29,635

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DAVID CLARK (PRESIDENT)

Highest reported compensation

  • TROY ROBERTS (EXECUTIVE DI): $186,131 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist with the creation and retention of jobs in the community.

What it reported doing in 2024

Provide assistance to small businesses seeking financing for expansion activities that will create new jobs in the community.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 71
  • Accountability: 84
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.5%; rating input score 62
  • Program expense ratio: 75.9%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.7%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 2.14; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 49.1%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 23.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 12.6% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 62.5% of revenue deployed · 75.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $186K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.