Association Of Washington Business
- Assets
- $46.5m
- Revenue
- $12.4m
- Investments
- $24.7m
- Employees
- 45
- Location
- Olympia, WA
- Founding
- 08/1945
- Data as of
- 09/2023
- EIN
- 91-0496803
Organization Overview
Association Of Washington Business is located in Olympia, WA. The organization was established in 1945. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Association Of Washington Business employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Washington Business 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 09/2023, Association Of Washington Business generated $12.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $11.8m during the year ending 09/2023. While expenses have increased by 5.5% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE INTERESTS OF BUSINESS, TRADE AND COMMERCE THROUGHOUT WASHINGTON STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ACCOMPLISH OUR MISSION STATEMENT BY PROVIDING OUR MEMBERS WITH CRITICAL SERVICES IN ADVOCACY SUCH AS HOLDING THE LINE ON GOVERNMENT REGULATION; OFFERING THE LARGEST ASSOCIATION HEALTH PLAN IN THE STATE; OFFERING 401(K) PLANS; AND PROVIDING OUR COMPWISE RETROSPECTIVE RATING PROGRAM, WHICH ALLOWS SAFE EMPLOYERS TO RECOUP UP TO 40% OF THEIR ANNUAL WORKERS' COMPENSATION PREMIUMS PAID TO THE STATE. ALL OF THESE EFFORTS, COMBINED WITH OUR PARAMOUNT DUTY OF ADVOCATING ON BEHALF OF THE BUSINESS COMMUNITY AS DIRECTED BY THE AWB BOARD, FURTHER THE GOAL OF MAKING WASHINGTON STATE A BETTER PLACE FOR BUSINESSES TO LOCATE AND GROW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Forth Past Chair | OfficerTrustee | 1 | $0 |
Laura Lawton Vice Chair | OfficerTrustee | 1 | $0 |
Paula Linnen Chair | OfficerTrustee | 1 | $0 |
Roy Heynderickx Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Alex Mcgregor Member | Trustee | 1 | $0 |
Alisha Benson Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hilton Vancouver Conference Venues | 9/29/23 | $112,799 |
Leading Authorities Event Speakers | 9/29/23 | $203,393 |
Dh (Desautel Hege) Branding, Strategy Work, Session Media | 9/29/23 | $105,074 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $71,386 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $71,386 |
| Total Program Service Revenue | $8,951,785 |
| Investment income | $3,275,372 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,172 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,356,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,009 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,765,986 |
| Compensation of current officers, directors, key employees. | $2,342,163 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,198,503 |
| Pension plan accruals and contributions | $331,780 |
| Other employee benefits | $274,115 |
| Payroll taxes | $310,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,425 |
| Fees for services: Accounting | $53,522 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $768,115 |
| Advertising and promotion | $307,967 |
| Office expenses | $79,900 |
| Information technology | $7,291 |
| Royalties | $0 |
| Occupancy | $241,665 |
| Travel | $236,584 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $909,943 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $196,099 |
| Insurance | $101,110 |
| All other expenses | $176,821 |
| Total functional expenses | $11,767,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,756 |
| Savings and temporary cash investments | $19,139,750 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,245 |
| 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 | $186,415 |
| Net Land, buildings, and equipment | $1,727,286 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,722,226 |
| Investments—program-related | $0 |
| Intangible assets | $124,217 |
| Other assets | $532,115 |
| Total assets | $46,496,010 |
| Accounts payable and accrued expenses | $1,432,811 |
| Grants payable | $0 |
| Deferred revenue | $398,007 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,500,697 |
| 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 | $398,758 |
| Total liabilities | $19,730,273 |
| Net assets without donor restrictions | $26,704,511 |
| Net assets with donor restrictions | $61,226 |
| 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 | $46,496,010 |
Grants Awarded
Over the last fiscal year, Association Of Washington Business has awarded $462,992 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
INSTITUTE FOR WORKFORCE DEVELOPMENT PURPOSE: TO ASSIST THE INSTITUTE IN ACCOMPLISHING ITS MISSION. | $212,992 |
INSTITUTE FOR WORKFORCE DEVELOPMENT PURPOSE: TO ASSIST THE INSTITUTE IN ACCOMPLISHING ITS MISSION. | $250,000 |