Island County Economic Development Council
- Assets
- $213.2k
- Revenue
- $340.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Coupeville, WA
- Founding
- 07/1987
- Data as of
- 12/2021
- EIN
- 91-1300296
Organization Overview
Island County Economic Development Council is located in Coupeville, WA. The organization was established in 1987. 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, Island County Economic Development Council employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island County Economic Development Council 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, Island County Economic Development Council generated $340.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $321.7k during the year ending 12/2021. While expenses have increased by 11.8% 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
THE EDC FOSTERS ECONOMIC BALANCE THAT PRESERVES THE COUNTY RURAL CHARACTER WHILE PROMOTING BUSINESS, EMPLOYMENT, AND QUALITY OF LIFE OPPORTUNITIES FOR ITS RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMIC DEVELOPMENT COUNCIL COORDINATES AND PERFORMS BUSINESS RECRUITMENT , RETENTION AND EXPANSION ACTIVITIES WITH THE COUNTY INCLUDING RESEARCH, PLANNING, AND IMPLEMENTATION OF REGIONAL AND LOCAL ECONOMIC DEVELOPMENT STRATEGIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Henny President | Officer | 10 | $0 |
Jeff Pleet Secretary | Officer | 10 | $0 |
Todd Morrow Treasurer | Officer | 10 | $0 |
Dave Paul Vice Predicent | Officer | 10 | $0 |
Melanie Bacon Director | Trustee | 0 | $0 |
Michelle Callihan Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,705 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $217,617 |
| 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 | $219,322 |
| Total Program Service Revenue | $0 |
| Investment income | $94 |
| 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 | $340,119 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $120,866 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,827 |
| Fees for services: Accounting | $6,970 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22 |
| Office expenses | $1,814 |
| Information technology | $11,055 |
| Royalties | $0 |
| Occupancy | $19,279 |
| Travel | $809 |
| 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 | $0 |
| Insurance | $2,153 |
| All other expenses | $110,300 |
| Total functional expenses | $321,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86 |
| Savings and temporary cash investments | $212,146 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $938 |
| 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 | $213,170 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,479 |
| Total liabilities | $2,479 |
| Net assets without donor restrictions | $210,691 |
| 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 | $213,170 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-Willamette Valley Community Action Agency Inc Salem, OR | $25,806,708 | $62,767,748 |
Coastal Villages Region Fund Anchorage, AK | $305,962,388 | $71,340,049 |
Rural Alaska Community Action Program Inc Anchorage, AK | $41,385,043 | $27,905,721 |
Human Solutions Inc Portland, OR | $41,573,265 | $24,704,381 |
Metropolitan Development Council Tacoma, WA | $25,355,306 | $24,051,543 |
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 |