Seattle Economic Development Fund is located in Tukwila, WA. The organization was established in 1997. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Seattle Economic Development Fund employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Economic Development Fund 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, Seattle Economic Development Fund generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $8.8m during the year ending 12/2023. While expenses have increased by 20.6% per year over the past 9 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
BUSINESS IMPACT NW GROWS BUSINESS THAT CREATE JOBS IN UNDERSERVED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN FUND ADMINISTRATION AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE FINANCING AND MANAGEMENT ASSISTANCE PRIMARILY TO TARGETED BUSINESSES THAT WOULD OTHERWISE NOT BE ABLE TO RECEIVE FINANCING UNDER CONVENTIONAL METHODS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joseph Sky-Tucker President/ceo | Officer | 40 | $165,333 |
Greta Stough Cxo | 40 | $122,986 | |
Domonique Juleon Cpo | 40 | $122,000 | |
Victor Saldanha Clo | 40 | $118,461 | |
Danielle Moser COO | 40 | $117,349 | |
John Zmolek Board Chair | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $3,486,978 |
All other contributions, gifts, grants, and similar amounts not included above | $1,500,638 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,987,616 |
Total Program Service Revenue | $1,724,233 |
Investment income | $64,796 |
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 | $6,779,426 |
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. | $174,629 |
Compensation of current officers, directors, key employees. | $34,967 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,349,121 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $588,111 |
Payroll taxes | $404,426 |
Fees for services: Management | $0 |
Fees for services: Legal | $34,787 |
Fees for services: Accounting | $64,732 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $312,908 |
Advertising and promotion | $195,442 |
Office expenses | $15,774 |
Information technology | $398,693 |
Royalties | $0 |
Occupancy | $57,854 |
Travel | $183,832 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $420,940 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,096 |
Insurance | $13,731 |
All other expenses | $128,284 |
Total functional expenses | $8,795,037 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $747,632 |
Savings and temporary cash investments | $5,601,500 |
Pledges and grants receivable | $1,718,591 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $21,935,592 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $18,524 |
Net Land, buildings, and equipment | $10,435 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $444,065 |
Total assets | $30,476,339 |
Accounts payable and accrued expenses | $557,464 |
Grants payable | $0 |
Deferred revenue | $14,027 |
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 | $13,601,836 |
Unsecured mortgages and notes payable | $7,746,164 |
Other liabilities | $146,099 |
Total liabilities | $22,065,590 |
Net assets without donor restrictions | $7,845,487 |
Net assets with donor restrictions | $565,262 |
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 | $30,476,339 |