Economic Development Alliance Of Skagit County Foundation
- Assets
- $1.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Mount Vernon, WA
- Founding
- 09/1996
- Data as of
- 12/2023
- EIN
- 91-1724682
Organization Overview
Economic Development Alliance Of Skagit County Foundation is located in Mount Vernon, WA. The organization was established in 1996. As of 12/2023, Economic Development Alliance Of Skagit County Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Alliance Of Skagit County Foundation 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 12/2023, Economic Development Alliance Of Skagit County Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 42.3% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 42.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE A GROWING AND BALANCED ECONOMY FOR SKAGIT COUNTY, WA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMIC DEVELOPMENT ALLIANCE OF SKAGIT COUNTY (EDASC) CARRIES OUT BUSINESS ATTRACTION, RETENTION AND EXPANSION AND COLLABORATIVE ENGAGEMENT TO ACHIEVE A PROSPEROUS, SUSTAINABLE, AND EQUITABLE COMMUNITY WHILE MAINTAINING SKAGIT COUNTY'S NATURAL BEAUTY AND QUALITY OF LIFE. EDASC SUPPORTS EXISTING SKAGIT COMPANIES, AND WORKS WITH PROSPECTIVE COMPANIES ON SITE LOCATION, WORKFORCE TRAINING, IDENTIFYING RESOURCES AND ACCESS TO CAPITAL, PERMITTING, RESEARCH, AND OTHER FORMS OF ASSISTANCE. EDASC INITIATIVES CREATE AND SUPPORT A FAVORABLE BUSINESS CLIMATE WITH STRATEGIES THAT FOCUS ON IMPROVING ASSETS AND AMENITIES WITHIN SKAGIT COUNTY. EDASC CONVENES AND CONNECTS STAKEHOLDERS TO WORK ON IMPROVING LOCAL ASSETS ON CRITICAL ISSUES SUCH AS WORKFORCE, HOUSING, CHILDCARE, AND POWER SUPPLY.
LEADERSHIP SKAGIT, IN PARTNERSHIP WITH SKAGIT VALLEY COLLEGE, IS A 9-MONTH EXPERIENTIAL LEARNING COURSE, DEVELOPING LEADERSHIP SKILLS IN MORE THAN 500 COMMUNITY MEMBERS OVER THE PAST 20 YEARS. PARTICIPANTS GAIN A DEEPER INSIGHT INTO THE REGION AND LEARN CONCEPTS AND TECHNIQUES FOR EFFECTIVE LEADERSHIP. ALL PROGRAMMING IS DELIVERED THROUGH A LENS OF EQUITY AND SUSTAINABILITY. GRADUATES ARE SHAPING SKAGIT COUNTY AS LEADERS OF NON-PROFITS, BUSINESSES, AND GOVERNMENTAL BODIES.
EDASC WORKS TO CATALYZE GRASS-ROOTS ECONOMIC DEVELOPMENT AND FOSTER AN INCLUSIVE ENTREPRENEURIAL ECOSYSTEM BY REDUCING BARRIERS TO ENTREPRENEURSHIP AND INNOVATION FOR ALL SKAGIT RESIDENTS WITH PARTICULAR EMPHASIS ON UNDERREPRESENTED POPULATIONS AND COMMUNITIES. EDASC AIMS TO ENSURE THAT ENTREPRENEURS AND BUSINESS OWNERS FROM ACROSS SKAGIT COUNTY HAVE ACCESS TO RESOURCES TO CREATE MORE EQUITABLE OPPORTUNITIES, BUILD NEW GENERATIONAL WEALTH, AND IMPROVE QUALITY OF LIFE. EDASC WORKS TO MAKE SKAGIT COUNTY MORE PROSPEROUS, DIVERSIFIED, AND SUSTAINABLE BY REMOVING BARRIERS TO SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Johnston Chair | OfficerTrustee | 1 | $0 |
Nate Wolfe Secretary | OfficerTrustee | 1 | $0 |
Matthew Roetciscoender Treasurer | OfficerTrustee | 1 | $0 |
Matt Paxton Of Counsel | Trustee | 1 | $0 |
Amelia Cook Member | Trustee | 1 | $0 |
Amy Hong Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $129,938 |
| All other contributions, gifts, grants, and similar amounts not included above | $242,402 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $372,340 |
| Total Program Service Revenue | $893,617 |
| Investment income | $854 |
| 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 | $1,274,475 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $326,444 |
| Compensation of current officers, directors, key employees. | $117,568 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $374,031 |
| Pension plan accruals and contributions | $12,569 |
| Other employee benefits | $52,806 |
| Payroll taxes | $51,467 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $120 |
| Office expenses | $42,705 |
| Information technology | $60,602 |
| Royalties | $0 |
| Occupancy | $47,607 |
| Travel | $17,775 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,624 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,188 |
| Insurance | $4,098 |
| All other expenses | $5,782 |
| Total functional expenses | $1,310,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,977 |
| Savings and temporary cash investments | $504,839 |
| Pledges and grants receivable | $25,978 |
| Accounts receivable, net | $153,919 |
| 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 | $3,860 |
| Net Land, buildings, and equipment | $11,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $320,186 |
| Total assets | $1,060,049 |
| Accounts payable and accrued expenses | $36,573 |
| Grants payable | $0 |
| Deferred revenue | $59,683 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,200 |
| 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 | $330,016 |
| Total liabilities | $446,472 |
| Net assets without donor restrictions | $592,333 |
| Net assets with donor restrictions | $21,244 |
| 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 | $1,060,049 |