Economic Development Board For Tacoma Pierce County
- Assets
- $4.3m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Tacoma, WA
- Founding
- 03/1981
- Data as of
- 12/2021
- EIN
- 91-1040355
Organization Overview
Economic Development Board For Tacoma Pierce County is located in Tacoma, WA. The organization was established in 1981. 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, Economic Development Board For Tacoma Pierce County employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Board For Tacoma Pierce County 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, Economic Development Board For Tacoma Pierce County generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.6% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 2.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE BUSINESS DEVELOPMENT IN THE TACOMA-PIERCE COUNTY REGION OF WASHINGTON STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMIC DEVELOPMENT BOARD FOR TACOMA-PIERCE COUNTY (EDB) IS FUNDED AND GUIDED BY LEADERS FROM THE PRIVATE AND PUBLIC SECTORS, THE INVESTORS. CURRENTLY, MORE THEN 91 INVESTORS HAVE COMMITTED THE RESOURCES THAT ENABLE THE EDB TO DELIVER CUTTING EDGE SERVICES TO PRIMARY BUSINESSES LOOKING TO CREATE JOBS IN TACOMA-PIERCE COUNTY, WASHINGTON STATE, USA. THE BOTTOM LINE IS FACILITATING PRIMARY JOBS AND WEALTH CREATION. AS A PRIVATE NOT-FOR-PROFIT CORPORATION, THE EDB BRIDGES THE GAP BETWEEN BUSINESS AND GOVERNMENT THAT IS OFTEN CRITICAL TO LARGE AND SMALL SCALE ECONOMIC DEVELOPMENT PROJECTS. EDB HAS THE EXPERTISE, CONNECTIONS, AND THE TOOLS TO GET THE JOB DONE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Kendall President & CEO | Officer | 40 | $297,508 |
Sarah Bonds VP Of Business Recruitment | Officer | 40 | $132,615 |
Deborah Kelly Director Of Operations | 40 | $131,882 | |
Madalain Merton VP Of Business Retention | Officer | 40 | $131,786 |
Herb Simon Chair | Officer | 1 | $0 |
Bruce Dammeier Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,307,504 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,307,504 |
| Total Program Service Revenue | $174,976 |
| Investment income | $1,217 |
| 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 | $3,483,697 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| 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. | $328,411 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $482,338 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $107,865 |
| Payroll taxes | $60,125 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,594 |
| Advertising and promotion | $36,943 |
| Office expenses | $24,474 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,055 |
| 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 | $13,920 |
| Insurance | $8,202 |
| All other expenses | $198,660 |
| Total functional expenses | $1,581,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $843,477 |
| Savings and temporary cash investments | $1,317,843 |
| Pledges and grants receivable | $1,876,524 |
| Accounts receivable, net | $186,686 |
| 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 | $2,088 |
| Net Land, buildings, and equipment | $50,671 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,277,289 |
| Accounts payable and accrued expenses | $88,974 |
| 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 | $20,000 |
| Total liabilities | $108,974 |
| Net assets without donor restrictions | $2,183,579 |
| Net assets with donor restrictions | $1,984,736 |
| 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 | $4,277,289 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Economic Development Board For Tacoma Pierce County has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Credit Unions In The State Of Washington Tacoma, WA PURPOSE: SPONSORSHIP | $5,500 |
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 |