Seattle Economic Development Fund

Organization Overview

Seattle Economic Development Fund is located in Seattle, WA. The organization was established in 1997. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Seattle Economic Development Fund employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Economic Development Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Seattle Economic Development Fund generated $8.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.5% each year . All expenses for the organization totaled $3.8m during the year ending 12/2021. While expenses have increased by 12.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

BUSINESS IMPACT NW GROWS BUSINESS THAT CREATE JOBS IN UNDERSERVED COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOAN FUND ADMINISTRATION AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE FINANCING AND MANAGEMENT ASSISTANCE PRIMARILY TO TARGETED BUSINESSES THAT WOULD OTHERWISE NOT BE ABLE TO RECEIVE FINANCING UNDER CONVENTIONAL METHODS.


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Board, Officers & Key Employees

Name (title)Compensation
Joe Sky-Tucker
Executive Director
$111,667
Lorri Wallace
Director
$0
John Zmolek
Treasurer/secretary
$0
Kellen Ball
Director
$0
Phil Jones
Board Chairman
$0
Tom Berquist
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $2,350,491
All other contributions, gifts, grants, and similar amounts not included above$2,543,054
Noncash contributions included in lines 1a–1f $40,412
Total Revenue from Contributions, Gifts, Grants & Similar$4,893,545
Total Program Service Revenue$2,574,525
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $63,953
Net Gain/Loss on Asset Sales $400,000
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,984,943

Grants Recieved

Over the last fiscal year, we have identified 8 grants that Seattle Economic Development Fund has recieved totaling $611,608.

Awarding OrganizationAmount
Umpqua Bank Charitable Foundation

Portland, OR

PURPOSE: LOAN READINESS CENTER

$150,000
Credit Unions In The State Of Washington

Tukwila, WA

PURPOSE: DONATION

$150,000
Washington State Microenterprise Association

Olympia, WA

PURPOSE: BUSINESS SUPPORT

$150,000
Credit Unions In The State Of Washington

Tacoma, WA

PURPOSE: UNRESTRICTED

$57,783
Peoplefund

Austin, TX

PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BSUINESSES

$48,825
Oregon Community Foundation

Portland, OR

PURPOSE: Economic Development

$25,000
View Grant Recipient Profile

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