Kitsap Economic Development Alliance
- Assets
- $470.4k
- Revenue
- $817.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Silverdale, WA
- Founding
- 10/1987
- Data as of
- 12/2022
- 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 12/2022, Kitsap Economic Development Alliance employed 7 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 12/2022, Kitsap Economic Development Alliance generated $817.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $764.7k during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 8 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.
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
2022
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 | $135,082 |
Monica Blackwood Past Chair | Trustee | 3 | $0 |
Nathan Evans Chair | OfficerTrustee | 3 | $0 |
Jon Rose Board Member | Trustee | 3 | $0 |
Greg George Treasurer | OfficerTrustee | 3 | $0 |
Angie Tomisser Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $131,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $662,673 |
| 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 | $793,673 |
| Total Program Service Revenue | $23,966 |
| Investment income | $267 |
| 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 | $817,906 |
| 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. | $151,008 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,929 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,357 |
| Payroll taxes | $35,828 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,001 |
| Fees for services: Accounting | $24,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,868 |
| Advertising and promotion | $58,475 |
| Office expenses | $8,125 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,365 |
| Travel | $13,113 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,985 |
| Interest | $592 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,487 |
| Insurance | $4,910 |
| All other expenses | $811 |
| Total functional expenses | $764,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,705 |
| Savings and temporary cash investments | $100,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,175 |
| 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 | $2,113 |
| Net Land, buildings, and equipment | $11,580 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $470,409 |
| Accounts payable and accrued expenses | $6,233 |
| 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 | $30,513 |
| Total liabilities | $36,746 |
| Net assets without donor restrictions | $433,663 |
| 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 | $470,409 |
Grants Awarded
Over the last fiscal year, Kitsap Economic Development Alliance has awarded $288,689 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
ARTISTS EDGE INC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
BAINBRIDGE ISLAND BREWING CO PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
BRONWYN TODD INC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
BAINBRIDGE VINEYARDS LLC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
CAMP 4 PAWS LLC PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |
CAMP UNION SALOON PURPOSE: LOCAL BUSINESS COVID ASSISTANCE | $10,000 |