Thurston County Economic Development Council
- Assets
- $705.2k
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 21
- Location
- Lacey, WA
- Founding
- 03/1993
- Data as of
- 12/2021
- EIN
- 91-1183169
Organization Overview
Thurston County Economic Development Council is located in Lacey, WA. The organization was established in 1993. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Thurston County Economic Development Council employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thurston County 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, Thurston County Economic Development Council generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. While expenses have increased by 5.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Thurston County Economic Development Council has awarded 454 individual grants totaling $6,733,841. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE SUSTAINABLE ECONOMIC, INVESTMENT AND EMPLOYMENT OPPORTUNITIES THROUGHOUT THURSTON COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROCUREMENT TECHNICAL ASSISTANCE (PTAC). EDC'S PTAC DIRECTOR IS A MEMBER OF PTAC NATIONAL BOARD, AND MAINTAINS AN OFFICER POSITION ON THE ADVOCACY BOARD. ASSOCIATION OF PROCUREMENT TECHNICAL ASSISTANCE CENTERS (APTAC) IS COMPRISED OF MEMBERSHIP FROM PTAC CENTERS FROM AROUND THE COUNTRY AND IS FOCUSED ON THE INCREASED RESOURCES FOR LOCAL BUSINESS TO ACCESS AND GAIN FEDERAL CONTRACTING OPPORTUNITIES.
PROVIDED ASSISTANCE TO FOSTER ECONOMIC DEVELOPMENT IN THURSTON COUNTY BY HOSTING VARIOUS EVENTS. WE ARE COMMITTED TO EXPANDING PRIVATE ENTERPRISES THAT DIVERSIFY AND STRENGTHEN THE ECONOMIC BASE AND CREATE NEW OPPORTUNITIES FOR LIVING-WAGE JOBS IN THURSTON COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Cade Executive Director | Officer | 45 | $180,601 |
Mark Steepy President-Elect | OfficerTrustee | 0.5 | $0 |
Heather Burgess President | OfficerTrustee | 0.5 | $0 |
Michael Mcgauly Secretary / Treasurer | OfficerTrustee | 0.5 | $0 |
Gary Edwards Director | Trustee | 0.5 | $0 |
Jessica Jensen Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $148,950 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,322,411 |
| All other contributions, gifts, grants, and similar amounts not included above | $287,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,758,761 |
| Total Program Service Revenue | $514,241 |
| Investment income | $86 |
| 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 | $3,432,826 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $607,908 |
| Grants and other assistance to domestic individuals. | $30,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,755 |
| Compensation of current officers, directors, key employees. | $48,189 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $994,512 |
| Pension plan accruals and contributions | $19,570 |
| Other employee benefits | $77,500 |
| Payroll taxes | $111,929 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,027,211 |
| Advertising and promotion | $54,573 |
| Office expenses | $17,219 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,342 |
| Travel | $37,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,523 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,172 |
| All other expenses | $0 |
| Total functional expenses | $3,446,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,255 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $552,944 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $705,199 |
| Accounts payable and accrued expenses | $373,035 |
| 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 | $110,032 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $483,067 |
| Net assets without donor restrictions | $222,132 |
| 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 | $705,199 |
Grants Awarded
Over the last fiscal year, Thurston County Economic Development Council has awarded $555,500 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
Olympia, WA PURPOSE: COVID 19 RELIEF | $20,000 |
Olympia, WA PURPOSE: COVID 19 RELIEF | $20,000 |
Olympia, WA PURPOSE: COVID 19 RELIEF | $20,000 |
Tenino, WA PURPOSE: COVID 19 RELIEF | $20,000 |
Olympia, WA PURPOSE: COVID 19 RELIEF | $20,000 |
Tumwater, WA PURPOSE: COVID 19 RELIEF | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Thurston County Economic Development Council has recieved totaling $8,500.
| Awarding Organization | Amount |
|---|---|
Credit Unions In The State Of Washington Olympia, WA PURPOSE: BUILDING BETTER COMMUNITY | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aleutian-Pribilof Islands Anchorage, AK | $38,968,570 | $29,437,372 |
Friends Of Seattle Waterfront Seattle, WA | $32,295,569 | $18,451,565 |
Yakima County Development Association Yakima, WA | $2,653,869 | $12,280,886 |
Association Of Washington Cities Olympia, WA | $23,978,792 | $13,838,038 |
Hacienda Community Development Corporation Portland, OR | $42,129,547 | $14,753,048 |
Klamath-Lake Community Action Services Klamath Falls, OR | $1,233,106 | $7,011,875 |
The Contingent Portland, OR | $16,984,824 | $8,759,620 |
Southeast Effective Development Seattle, WA | $44,851,964 | $4,590,608 |
Evergreen Business Capital Seattle, WA | $8,313,121 | $5,500,753 |
Clean & Safe Inc Portland, OR | $4,418,996 | $6,074,621 |
Community Frameworks Spokane, WA | $20,309,475 | $6,692,007 |
Interim Community Development Association Seattle, WA | $18,632,697 | $4,931,753 |