Kitsap Economic Development Alliance
- Assets
- $404.8k
- Revenue
- $624.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Silverdale, WA
- Founding
- 10/1987
- Data as of
- 12/2021
- EIN
- 91-1335188
Organization Overview
Kitsap Economic Development Alliance is located in Silverdale, WA. The organization was established in 1987. 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, Kitsap Economic Development Alliance employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kitsap Economic Development Alliance is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Kitsap Economic Development Alliance generated $624.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $505.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Kitsap Economic Development Alliance has awarded 29 individual grants totaling $288,689. 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
TO ATTRACT AND RETAIN PRIMARY BUSINESSES TO KITSAP COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING KITSAP COUNTY TO ATTRACT AND RETAIN PRIMARY BUSINESSES. DURING THE YEAR THE ORGANIZATION PROVIDED IN-KIND SERVICES AND RECEIVED IN-KIND CONTRIBUTIONS WITH AN ESTIMATED VALUE OF $43,747. THE PROVIDED IN-KIND SERVICES CONSISTED PRIMARILY OF ADVERTISING AND CONSULTING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Morrison Secretary | OfficerTrustee | 40 | $131,400 |
Erin Leedham Vice Chair | OfficerTrustee | 3 | $0 |
Nathan Evans Chair | OfficerTrustee | 3 | $0 |
Greg George Treasurer | OfficerTrustee | 3 | $0 |
Becky Erickson Board Member | Trustee | 3 | $0 |
Greg Wheeler Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $130,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $480,346 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $610,596 |
| Total Program Service Revenue | $14,110 |
| Investment income | $196 |
| 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 | $624,902 |
| 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. | $146,985 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,301 |
| Pension plan accruals and contributions | $12,525 |
| Other employee benefits | $0 |
| Payroll taxes | $26,184 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,725 |
| Advertising and promotion | $16,877 |
| Office expenses | $1,797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,340 |
| Travel | $1,938 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,974 |
| Interest | $845 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,042 |
| Insurance | $2,832 |
| All other expenses | $491 |
| Total functional expenses | $505,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,425 |
| Savings and temporary cash investments | $100,591 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $131,505 |
| 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 | $1,952 |
| Net Land, buildings, and equipment | $10,358 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $404,831 |
| Accounts payable and accrued expenses | $2,327 |
| 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 | $22,077 |
| Total liabilities | $24,404 |
| Net assets without donor restrictions | $380,427 |
| 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 | $404,831 |
Grants Awarded
Over the last fiscal year, Kitsap Economic Development Alliance has awarded $288,689 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
FLOOR DECORATOR LLC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
GEM RESTAURANT GROUP LLC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
COLOR BRUSH BOWL INC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
STRATEGERIE LLC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
COMMUTER COMFORTS INC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
MASTER ORTHODONTICS PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kitsap Economic Development Alliance has recieved totaling $13,000.
| Awarding Organization | Amount |
|---|---|
Kitsap Credit Union Bremerton, WA PURPOSE: PROGRAM INVESTMENT 2021 | $13,000 |
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 |