Waverly Area Development Group

Nonprofit profile at a glance

EIN
420588697
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Waverly, IA, USA
Phone
3193524526
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$235,306
Expenses
$231,989
Assets
$200,435
Liabilities
$48,580

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

Leadership & pay

11 people listed

Executive titles in this filing

  • TRAVIS TOLIVER (EXECUTIVE DIRECTOR)
  • CHELSEA PETERSEN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TRAVIS TOLIVER (EXECUTIVE DIRECTOR): $41,619 total reported compensation
  • CHELSEA PETERSEN (EXECUTIVE DIRECTOR): $15,523 total reported compensation

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

Overview

Mission

Public relations, tourism and economic development in the city of waverly, Iowa.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 97% 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 - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 64.8%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.86; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 24.6%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 64.8% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $150K in reported program spending
  • Leadership: top reported pay $42K · 11 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 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.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.