Tri-City Development Council
- Assets
- $3.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Kennewick, WA
- Founding
- 09/1964
- Data as of
- 12/2021
- EIN
- 91-6053966
Organization Overview
Tri-City Development Council is located in Kennewick, WA. The organization was established in 1964. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Tri-City Development Council employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-City Development Council 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 12/2021, Tri-City Development Council generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Tri-City Development Council has awarded 14 individual grants totaling $1,809,909. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF TRIDEC TO IMPROVE THE ECONOMIC HEALTH OF THE TRI-CITIES AREA.TO ACHIEVE THIS MISSION, TRIDEC PROMOTES ECONOMIC DIVERSIFICATION, FACILITATES JOB CREATION AND RETENTION, PURSUES NEW FEDERAL MISSIONS TO SUPPORT STABILITY IN FEDERALLY FUNDED OPERATIONS AND ADVOCATES AND LEADS THE TRI-CITIES COMMUNITY ON ISSUES OF ECONOMIC IMPORTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT OF THE TRI-CITIES (PASCO, KENNEWICK,& RICHLAND) AND THE SURROUNDING AREAS OF SOUTHEASTERN WASHINGTON STATE THROUGH PROMOTION, RECRUITMENT, AND DIVERSIFICATION OF THE ECONOMIC BASE. IMPROVEMENT OF ECONOMIC CONDITIONS AND BUSINESS OPPORTUNITIES TO ALMOST 300 MEMBERS. DIRECT CONTACTS WITH MULTIPLE COMPANIES WITHIN TARGETED INDUSTRIES TO RECRUIT NEW INDUSTRY AND FOSTER ECONOMIC DEVELOPMENT TO FURTHER DIVERSIFY THE LOCAL ECONOMY. PARTICIPATED IN MULTIPLE TRADE AND INDUSTRIAL DEVELOPMENT ACTIVITIES INCLUDING TRADE SHOWS, CONFERENCES, DIRECT AND INDIRECT BUSINESS RECRUITMENT. RESPONDED TO MANY DIRECT INQUIRIES FROM BUSINESSES SEEKING INFORMATION ON THE LOCAL AREA INCLUDING LABOR FORCE, POTENTIAL SITE SELECTION AND OTHER RELEVANT MARKET DATA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karl Dye President & CEO | Officer | 52 | $174,948 |
Steven Ashby Director | OfficerTrustee | 1 | $0 |
Emily Mccann Treasurer | OfficerTrustee | 1 | $0 |
Will Mckay Director | OfficerTrustee | 1 | $0 |
Fran Forgette Past Chair | OfficerTrustee | 2 | $0 |
Mark Shuster Director | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K & L Gates Llp Legal/consulting | 12/30/19 | $103,871 |
Vail International Auction / Whse Rent | 12/30/19 | $123,305 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $338,527 |
| 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 | $338,527 |
| Total Program Service Revenue | $766,611 |
| Investment income | $12,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,674 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,107,254 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,000 |
| 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. | $174,948 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $335,909 |
| Pension plan accruals and contributions | $25,543 |
| Other employee benefits | $74,779 |
| Payroll taxes | $59,127 |
| Fees for services: Management | $8,434 |
| Fees for services: Legal | $112,568 |
| Fees for services: Accounting | $2,188 |
| Fees for services: Lobbying | $110,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,579 |
| Office expenses | $8,761 |
| Information technology | $67,160 |
| Royalties | $0 |
| Occupancy | $49,841 |
| Travel | $8,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,357 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,138 |
| Insurance | $11,434 |
| All other expenses | $0 |
| Total functional expenses | $1,166,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $375,842 |
| Savings and temporary cash investments | $2,121,174 |
| Pledges and grants receivable | $0 |
| 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 | $3,445 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $728,662 |
| Total assets | $3,229,123 |
| Accounts payable and accrued expenses | $118,049 |
| 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 | $0 |
| Total liabilities | $118,049 |
| Net assets without donor restrictions | $1,674,700 |
| Net assets with donor restrictions | $1,436,374 |
| 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 | $3,229,123 |
Grants Awarded
Over the last fiscal year, Tri-City Development Council has awarded $676,588 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
69 LOCAL BUSINESS IN BENTON C PURPOSE: WORKING WA EMERGENCY GRANTS | $501,588 |
PREFERRED FREEZER SERVICE LLC PURPOSE: ECONOMIC DEVELOPMENT | $150,000 |
Prosser, WA PURPOSE: ECONOMIC DEVELOPMENT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tri-City Development Council has recieved totaling $10,580.
| Awarding Organization | Amount |
|---|---|
Kadlec Regional Medical Center Renton, WA PURPOSE: COMMUNITY SUPPORT | $10,580 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Travel Portland Portland, OR | $18,865,244 | $9,767,566 |
Association Of Washington Business Olympia, WA | $45,170,529 | $11,595,511 |
Master Builders Association Of King And Snohomish Counties Bellevue, WA | $50,140,289 | $12,586,024 |
Greater Seattle Chamber Of Commerce Seattle, WA | $24,652,320 | $11,051,510 |
Wafla Lacey, WA | $11,233,432 | $9,712,213 |
Portland Business Alliance Portland, OR | $2,909,182 | $8,830,293 |
Cloud Security Alliance Seattle, WA | $2,184,209 | $7,501,153 |
Northwest Power Pool Portland, OR | $3,491,594 | $6,118,374 |
Archbright Seattle, WA | $17,744,548 | $6,553,314 |
Associated General Contractors Of Washington Seattle, WA | $55,149,734 | $7,565,354 |
Fido Alliance Inc Beaverton, OR | $3,413,033 | $5,016,391 |
Usb Implementers Forum Inc Beaverton, OR | $6,239,445 | $5,610,966 |