Thurston Economic Development Council Center For Business & Inno
- Assets
- $630.6k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 16
- Location
- Lacey, WA
- Founding
- 10/1996
- Data as of
- 12/2022
- EIN
- 91-1561600
Organization Overview
Thurston Economic Development Council Center For Business & Inno, operating under the name Center For Business Innovation, is located in Lacey, WA. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2022, Center For Business Innovation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Business Innovation 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 12/2022, Center For Business Innovation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 13.3% 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.
Since 2020, Center For Business Innovation has awarded 95 individual grants totaling $898,400. 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
DEVELOP THE ENTREPRENEURIAL NETWORK OF THURSTON COUNTY AND SUPPORT BUSINESS LIFE-CYCLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LACEY MAKERSPACE: LACEY MAKERSPACE PROGRAM PROVIDED COMMUNITY ACCESS TO HIGH TECH FABRICATION TOOLS AND TRAINING. THE PROGRAM FOSTERS INNOVATION AND CREATIVITY IN THE SOUTH SOUND REGION OF WASHINGTON.
ECONOMIC RECOVERY AND OTHER PROGRAM SERVICES
WASHINGTON CENTER FOR WOMEN IN BUSINESS: PROVIDED TRAINING AND ASSISTANCE TO WOMEN LIVING IN THE STATE OF WASHINGTON TO START AND GROW SUCCESSFUL BUSINESSES.
SCALEUP TRAINING IS A 3-PART PROGRAM FOR BUSINESSES THAT WANT GREATER PROFITABILITY AND GROWTH. CBI PROVIDED TRAINING, TECHNICAL ASSISTANCE, REFERRAL AND OTHER RESOURCES TO GROWTH-ORIENTED BUSINESSES TO PROMOTE EXPANSION AND JOB CREATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Cade Executive Director | Officer | 10 | $0 |
Nancy Lapointe President | OfficerTrustee | 0.25 | $0 |
Grace Kendall President-Elect | OfficerTrustee | 0.25 | $0 |
Noel Rubadue Secretary | OfficerTrustee | 0.25 | $0 |
Scott Zylka Treasurer | OfficerTrustee | 0.25 | $0 |
Virgil Clarkson Director (thru August 2022) | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $129,324 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,587,825 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,853 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,791,002 |
| Total Program Service Revenue | $38,380 |
| Investment income | $136 |
| 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 | $3,702 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,866,030 |
| 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 | $0 |
| Other salaries and wages | $734,179 |
| Pension plan accruals and contributions | $2,921 |
| Other employee benefits | $47,151 |
| Payroll taxes | $52,709 |
| Fees for services: Management | $45,148 |
| 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 | $213,249 |
| Advertising and promotion | $26,326 |
| Office expenses | $49,640 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,672 |
| Travel | $4,245 |
| 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 | $5,326 |
| All other expenses | $0 |
| Total functional expenses | $1,821,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $326,009 |
| Savings and temporary cash investments | $649 |
| Pledges and grants receivable | $303,984 |
| Accounts receivable, net | $0 |
| 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 | $630,642 |
| Accounts payable and accrued expenses | $443,990 |
| Grants payable | $0 |
| Deferred revenue | $1,019 |
| 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 | $0 |
| Total liabilities | $445,009 |
| Net assets without donor restrictions | -$73,767 |
| Net assets with donor restrictions | $259,400 |
| 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 | $630,642 |
Grants Awarded
Over the last fiscal year, Thurston Economic Development Council Center For Business & Inno has awarded $898,400 in support to 95 organizations.
| Grant Recipient | Amount |
|---|---|
3H ENTERPRISE INC COLLEGE CLEANERS PURPOSE: COVID 19 RELIEF | $7,000 |
ALL CITY CLEANING SERVICES LLC PURPOSE: COVID 19 RELIEF | $10,000 |
ABUNDANT LIFE COFFEE INC PURPOSE: COVID 19 RELIEF | $10,000 |
ALL FIT LLC DABA THRIVE COMMUNITY FITNESS PURPOSE: COVID 19 RELIEF | $10,000 |
ALL PRO SCREEN PRINTING & EMBROIDERY LLC PURPOSE: COVID 19 RELIEF | $10,000 |
AMY L MURRYHUMAN BODY WORKS PLLC PURPOSE: COVID 19 RELIEF | $10,000 |