Pacific Northwest Economic Region Foundation
- Assets
- $1.3m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 14
- Location
- Seattle, WA
- Founding
- 08/1993
- Data as of
- 09/2023
- EIN
- 91-1599098
Organization Overview
Pacific Northwest Economic Region Foundation is located in Seattle, WA. The organization was established in 1993. 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 09/2023, Pacific Northwest Economic Region Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pacific Northwest Economic Region Foundation 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, Pacific Northwest Economic Region Foundation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $2.8m during the year ending 09/2023. While expenses have increased by 9.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL CITIZENS OF THE REGION; TO COORDINATE PROVINCIAL AND STATE POLICIES THROUGHOUT THE REGION; TO IDENTIFY AND PROMOTE MODELS OF SUCCESS; AND TO SERVE AS A CONDUIT TO EXCHANGE INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PNWER REGIONAL INFRASTRUCTURE ACCELERATOR RIA IS A U.S. DEPARTMENT OF TRANSPORTATION BUILD AMERICA BUREAU FUNDED GRANT PROGRAM THAT HELPS TO ACCELERATE INFRASTRUCTURE PROJECT DELIVERY THROUGH PROVISION OF TECHNICAL ASSISTANCE AND IDENTIFICATION OF INNOVATIVE FINANCING SOLUTIONS. THE PNWER RIA SERVES AS A CONVENER FOR TRANSPORTATION PROJECTS IN THE PACIFIC NORTHWEST WITH SPECIFIC FOCUS ON MULTISTATE AND MULTI-JURISDICTIONAL INITIATIVES THAT EASE SUPPLY CHAIN DISRUPTIONS AND REDUCE TRANSPORTATION-RELATED POLLUTION ESPECIALLY FOR HISTORICALLY UNDERSERVED COMMUNITIES.
THE PNWER RURAL INVESTMENT FOR SMALL-BUSINESS ENTERPRISE RISE WAS A WASHINGTON STATE DEPARTMENT OF COMMERCE SMALL BUSINESS INNOVATION FUND SBIF GRANT FOCUSED ON ASSISTING RURAL SMALL WOMEN AND BLACK INDIGENOUS PEOPLE OF COLOR-OWNED BUSINESSES S W BIPOC IN WASHINGTON STATE. THROUGH THIS PROJECT PNWER FACILITATED NEW BUSINESS RELATIONSHIPS BETWEEN TECHNICAL ASSISTANCE SOLUTION PROVIDERS AND SMALL UNDER-RESOURCED BUSINESSES TO PROVIDE DIRECT FINANCIAL SUPPORT MENTORSHIP AND INDUSTRY EXPERTISE. THE PURPOSE IS TO ACCELERATE POST-PANDEMIC RECOVERY IN THESE UNDER-RESOURCED BUSINESSES AND COMMUNITIES AND PROVIDE NEEDED GUIDANCE AND SERVICES TO HELP THEM EXPAND AND GROW THEIR BUSINESSES. CONNECTING S W BIPOC BUSINESSES WITH TECHNOLOGY AND TECHNICAL ASSISTANCE PROVIDERS BASED ON THEIR NEEDS WILL HELP TO INCREASE REVENUE AND JOBS FOR PARTICIPATING SMALL BUSINESSES AND INCREASE TAX REVENUE IN RURAL AREAS.
3 CORE MEETINGS INCLUDE CAPITAL VISITS PNWER ANNUAL SUMMIT AND THE ANNUAL PNWER ECONOMIC LEADERSHIP FORUM. A CAPITAL VISITS: EVERY YEAR THE PNWER EXECUTIVE COMMITTEE VISITS OUR REGION'S CAPITALS AS WELL AS WASHINGTON DC TO ADVOCATE FOR REGIONAL ISSUES AND STRENGTHEN CONNECTIONS. B PNWER HOSTED THE ANNUAL SUMMIT AT WHICH OVER 500 PUBLIC AND PRIVATE SECTOR LEADERS PARTICIPATE IN ENGAGING DISCUSSION COMPELLING KEYNOTE PRESENTATIONS EVENING NETWORKING EVENTS AND OFFSITE POLICY TOURS. C PNWER HOSTED THE PNWER ECONOMIC LEADERSHIP FORUM THE ANNUAL WINTER MEETING WHICH PROVIDES AN OPPORTUNITY FOR OVER 150 LOCAL PROVINCIAL AND STATE LEADERS IN BOTH THE PUBLIC AND PRIVATE SECTORS TO CARRY OUT IN-DEPTH DISCUSSIONS ON KEY CURRENT SUBJECTS SUCH AS INFRASTRUCTURE CHANGES INVASIVE SPECIES AND ENERGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Morrison Secretary | OfficerTrustee | 40 | $131,028 |
Brandon Hardenbrook Treasurer | Officer | 40 | $115,948 |
Richard Gotfried President | OfficerTrustee | 1 | $0 |
Chuck Winder Vice President | OfficerTrustee | 1 | $0 |
Rick Glumac Vice President | OfficerTrustee | 1 | $0 |
Mia Costello Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $525,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,603,540 |
| All other contributions, gifts, grants, and similar amounts not included above | $560,091 |
| Noncash contributions included in lines 1a–1f | $63,678 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,688,631 |
| Total Program Service Revenue | $132,241 |
| Investment income | $1,451 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,000 |
| 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 | $2,860,471 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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. | $259,737 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $662,793 |
| Pension plan accruals and contributions | $39,400 |
| Other employee benefits | $124,109 |
| Payroll taxes | $88,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $780,871 |
| Advertising and promotion | $0 |
| Office expenses | $24,611 |
| Information technology | $61,190 |
| Royalties | $0 |
| Occupancy | $109,435 |
| Travel | $61,041 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $447,318 |
| Interest | $4,098 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,967 |
| All other expenses | $0 |
| Total functional expenses | $2,761,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $814,800 |
| Savings and temporary cash investments | $134,053 |
| Pledges and grants receivable | $344,256 |
| 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 | $15,508 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,350 |
| Total assets | $1,330,967 |
| Accounts payable and accrued expenses | $159,017 |
| Grants payable | $0 |
| Deferred revenue | $53,777 |
| 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 | $150,000 |
| Other liabilities | $5,000 |
| Total liabilities | $367,794 |
| Net assets without donor restrictions | $963,173 |
| 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 | $1,330,967 |