WATSON ECONOMIC DEVELOPMENT ASSOCIATES INC: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
WATSON ECONOMIC DEVELOPMENT ASSOCIATES INC (EIN 81-2701014)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-04-28
IRS object ID
202201239349302235
Schema version
2021v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-04-28T14:24:40-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN521971932PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BARCLAYS TAX SERVICESBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line15109 HARFORD ROADAddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21214ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN812701014EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1WATSON ECONOMIC DEVELOPMENT ASSOCIATES INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWATSBusinessNameControlTxt
Phone2026845274PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12415 SAND HILL ROADAddressLine1Txt
CityELLICOTT CITYCityNm
State AbbreviationMDStateAbbreviationCd
ZIP21042ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSTEVEN L WATSONPersonNm
Person TitleCEOPersonTitleTxt
Phone2026845274PhoneNum
Signature2022-04-20SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstSTEVENPersonFirstNm
Person LastWATSONPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSARAH A BLAND BARCLAYPreparerPersonNm
PTINP00062893PTIN
Phone4102548297PhoneNum
Preparation2022-04-23PreparationDt
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerSTEVEN WATSONPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line12415 SAND HILL ROADAddressLine1Txt
CityELLICOTT CITYCityNm
State AbbreviationMDStateAbbreviationCd
ZIP21042ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$101,528GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWEDAUS.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2016FormationYr
Legal Domicile StateMDLegalDomicileStateCd
Activity Or MissionEnhance the standrd of livng; provide jobs & resorcs; retain, attrct & expnd small busines opptunites; stimulte the local econmy thruActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent0VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$20,641PYContributionsGrantsAmt
CY Contributions Grants$101,528CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$11PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$20,652PYTotalRevenueAmt
CY Total Revenue$101,528CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$20,652PYOtherExpensesAmt
CY Other Expenses$28,463CYOtherExpensesAmt
PY Total Expenses$20,652PYTotalExpensesAmt
CY Total Expenses$28,463CYTotalExpensesAmt
CY Revenues Less Expenses$73,065CYRevenuesLessExpensesAmt
Total Assets EOY$309,065TotalAssetsEOYAmt
Total Liabilities EOY$236,000TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances EOY$73,065NetAssetsOrFundBalancesEOYAmt
MissionEnhance the standard of livng; provide jobs & resources; retain, attrct & expand small business opptunites; stimulte the local econmy thru neighdMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$10,680ExpenseAmt
DescEnhance the standard of livng; provide jobs & resources; retain, attrct & expand small business opptunites; stimulte the local econmy thru neighdDesc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$17,783ExpenseAmt
DescEnhance the standard of livng; provide jobs & resources; retain, attrct & expand small business opptunites; stimulte the local econmy thru neighdDesc
FieldValueIRS element (for citing)
Total Program Service Expenses$28,463TotalProgramServiceExpensesAmt
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredfalseScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee0EmployeeCnt
Employment Tax Returns FiledfalseEmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form8899 FiledindfalseForm8899Filedind
Form1098 C FiledYes (true)Form1098CFiledInd
Taxable DistributionsfalseTaxableDistributionsInd
Distribution To DonorfalseDistributionToDonorInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Form720 FiledfalseForm720FiledInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member0IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersYes (true)MembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (true)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressYes (true)OfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldMDStatesWhereCopyOfReturnIsFldCd
Own WebsiteYes (X)OwnWebsiteInd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd
OtherYes (X)OtherInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1STEVEN WATSONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2026845274PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12415 SAND HILL ROADAddressLine1Txt
CityELLICOTT CITYCityNm
State AbbreviationMDStateAbbreviationCd
ZIP21042ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtKey EmployeeKeyEmployeeIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
CONNOR AHLBORN
SECRETARY2Yes (X)$0$0$0
RYAN WATSON
VICE PRESIDENT2Yes (X)$0$0$0
LATONYA WATSON
ACCOUNT/FINANCE MANAGER2Yes (X)$0$0$0
STEVEN WATSON
CEO2Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$101,528AllOtherContributionsAmt
Total Contributions$101,528TotalContributionsAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$101,528TotalRevenueColumnAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$3,250TotalAmt
Program Services$3,250ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$10,313TotalAmt
Program Services$347ProgramServicesAmt
Management And General$9,966ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$1,176TotalAmt
Management And General$1,176ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$884TotalAmt
Management And General$884ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
TRAINING$3,000$3,000
CELL PHONE$2,757$2,757
FUEL$3,900$3,900
LEGAL AND PROFESSIONAL FEES$3,000$3,000

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$183TotalAmt
Program Services$183ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$28,463TotalAmt
Program Services$10,680ProgramServicesAmt
Management And General$17,783ManagementAndGeneralAmt
Fundraising$0FundraisingAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$309,065LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
EOY$309,065EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$309,065EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
EOY$236,000EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$236,000EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
EOY$73,065EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$73,065EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$309,065EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$73,065ReconcilationRevenueExpnssAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$18,200CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,768CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$17,792CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,772CurrentTaxYearMinus1YearAmt
Current Tax Year$101,528CurrentTaxYearAmt
Total$172,060TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$18,200CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,768CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$17,792CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,772CurrentTaxYearMinus1YearAmt
Current Tax Year$101,528CurrentTaxYearAmt
Total$172,060TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$172,060PublicSupportTotal509Amt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$18,200CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,768CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$17,792CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,772CurrentTaxYearMinus1YearAmt
Current Tax Year$101,528CurrentTaxYearAmt
Total$172,060TotalAmt
FieldValueIRS element (for citing)
Public Support CY5091PublicSupportCY509Pct
Public Support PY5090PublicSupportPY509Pct
Investment Income CY0InvestmentIncomeCYPct
Investment Income PY0InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Solicited Assets SalefalseSolicitedAssetsSaleInd
Agent Trustee EtcfalseAgentTrusteeEtcInd
Incl Escrow Custodial Acct LiabfalseInclEscrowCustodialAcctLiabInd
Endowments Held Unrelated OrgfalseEndowmentsHeldUnrelatedOrgInd
Endowments Held Related OrgfalseEndowmentsHeldRelatedOrgInd
Related Org List Sch RfalseRelatedOrgListSchRInd

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$309,065OtherCostOrOtherBasisAmt
Book Value$309,065BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$309,065TotalBookValueLandBuildingsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (11 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART VI, SECTION A, LINE 2CEO AND ACCOUNT/FINANCE MANAGER ARE HUSBAND AND WIFE
PART VI, SECTION A, LINE 64 BOARD MEMBERS
PART VI, SECTION A, LINE 7aELECTION OF BOARD MEMBERS HELD EVERY TWO YEARS
PART VI, SECTION A, LINE 8aTHE RECORDIND SECRETARY TAKES MINUTES FOR ALL MEETINGS
PART VI, SECTION A, LINE 8bTHE RECORDING SECRETARY TAKES MINUTES FOR ALL MEETINGS
PART VI, SECTION A, LINE 9CONNOR AHLBORN, SECRETARY 7524 ARLINGTON BLVD, FALLS CHURCH VA 22042 RYAN WATSON, VICE PRESIDENT 1815 GOUGH STREET BALTIMORE. MD. 21231 LATONYA WATSON ACCOUNT/FINANCE MANAGER 2415 SAND HILL ROAD ELLICOTT CITY, MD.21042 STEVEN WATSON, CEO 2415 SAND HILL ROAD, ELLICOTT CITY, MD. 21042
PART VI, SECTION B, LINE 11COPY OF 990 PROVIDED IN HAND TO EACH MEMBER OF THE GOVERNING BODY
PART VI, SECTION B, LINE 12cEACH BOARD MEMBER IS REQUIRED TO REPORT ANY AND ALL INVOLVEMENTS AND INCOMES THAT MAY BE IN CONFLICT WITH THE CONFLICT OF INTEREST POLICY AT THE END OF EACH YEAR.
PART VI, SECTION C, LINE 18UPON REQUEST
PART VI, SECTION C, LINE 19UPON REQUEST
PART IX, LINE 24eMEALS AT 50 PERCENT 366 TOTAL SPENT FOR MEALS

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.