Cowlitz Economic Development Council
- Assets
- $215.4k
- Revenue
- $389.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Longview, WA
- Founding
- 01/1982
- Data as of
- 12/2021
- EIN
- 91-1154753
Organization Overview
Cowlitz Economic Development Council is located in Longview, WA. The organization was established in 1982. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cowlitz Economic Development Council employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cowlitz Economic Development Council is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Cowlitz Economic Development Council generated $389.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $354.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER GROWTH IN THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
FACILITATE JOB CREATION AND MANAGE GROWTH IN THE COMMUNITY BY RECRUITING NEW EMPLOYERS TO THE AREA, WORKING WITH EXISTING EMPLOYERS AND OVERALL BUSINESS AND INFRASTRUCTURE DEVELOPMENT. THE CEDC CONTINUED TO WORK ON A VARIETY OF PROJECTS AND PROGRAMS INVOLVING THE PUBLIC AND PRIVATE SECTOR. DURING 2021, THE CEDC CONTINUED TO WORK ON CONTRACTS WITH THE WASHINGTON STATE DEPARTMENT OF COMMERCE, SW WASHINGTON COMMUNITY FOUNDATION AND HAS PARTNERSHIPS WITH ALL THREE COWLITZ COUNTY PORTS AND ALL FIVE MUNICIPALITIES. THE CEDC FACILITATED THE LOCATION OF NINE NEW COMPANIES CREATING OVER 300 NEW JOBS. THE CURRENT PORTFOLIO OF PROJECTS REPRESENTS OVER $3 BILLION IN NEW CAPITAL INVESTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Sprague President | Officer | 40 | $142,657 |
See Attachment Directors | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $217,595 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $278,095 |
| Total Program Service Revenue | $110,617 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $389,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $142,657 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,240 |
| Pension plan accruals and contributions | $30,622 |
| Other employee benefits | $35,050 |
| Payroll taxes | $21,367 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,246 |
| Office expenses | $3,545 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,840 |
| Travel | $4,751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $520 |
| Insurance | $1,356 |
| All other expenses | $11,203 |
| Total functional expenses | $354,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $212,646 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $840 |
| Net Land, buildings, and equipment | $1,887 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $215,374 |
| Accounts payable and accrued expenses | $3,337 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,337 |
| Net assets without donor restrictions | $212,037 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $215,374 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norton Sound Economic Development Corporation Anchorage, AK | $393,228,467 | $59,416,266 |
Bristol Bay Economic Development Corporation Dillingham, AK | $306,219,768 | $32,445,568 |
Juneau Economic Development Council Juneau, AK | $7,391,243 | $19,704,575 |
Alaska Cabaret Hotel Restaurant & Retailers Association Anchorage, AK | $1,951,463 | $11,915,981 |
Spokane Area Workforce Development Council Spokane, WA | $1,735,015 | $9,993,306 |
South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Bend Visitor & Convention Bureau Bend, OR | $2,809,916 | $4,392,853 |
Visit Spokane Spokane, WA | $4,256,594 | $5,130,887 |
Spruce Root Inc Juneau, AK | $2,965,503 | $3,464,933 |
Angels For Angels Seattle, WA | $2,495,465 | $5,448,539 |
Columbia Pacific Economic Development District Of Oregon St Helens, OR | $1,194,782 | $2,960,651 |
Koyuk Native Store Koyuk, AK | $1,287,215 | $2,898,870 |