LINCOLN COUNTY ECONOMIC DEVELOPMEN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Phone

5097251170

Tax Period

2023-07-01 to 2024-06-30

LINCOLN COUNTY ECONOMIC DEVELOPMENT COUNCIL, founded in 2007, is a small nonprofit in the Community Improvement sector that reported $216K in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $287K exceeded revenue, resulting in a 33% operating deficit.

Mission

TO OPERATE EXCLUSIVELY FOR SOCIAL WELFARE PURPOSES, SPECIFICALLY RELATED TO ECONOMIC DEVELOPMENT FOR LINCOLN COUNTY.

Program Service Accomplishments

Program 1

Expenses: $198,898 Revenue: $45,719

Statement of accomplishments for our two largest program services for 2023.2023 Key Program 1: Lincoln County EDC continued its pivotal role in supporting and advancing the broadband initiative...

Statement of accomplishments for our two largest program services for 2023.2023 Key Program 1: Lincoln County EDC continued its pivotal role in supporting and advancing the broadband initiative across all towns in Lincoln County. This year, the emphasis was placed on support with the securing of essential grant funding to ensure the broadband project could move forward. Lincoln County EDC worked closely with Lincoln County officials to facilitate a seamless transition of project administration. This was accomplished and is now being managed by Lincoln County Broadband.2023 Key Program 2: Business Creation, Retention, and ExpansionMany activities performed by the EDC directly or indirectly benefit the local economy. A large portion of Lincoln County is now a federal Opportunity Zone and offers tax benefits to new businesses that open there. The EDC contracts with Lincoln County to promote our recreational opportunities to tourists outside of the county and encourage campers, boaters, fishing enthusiasts, and houseboat vacationers to spend their leisure time and discretionary income here in Lincoln County. The EDC uses social media to promote local businesses through projects like our Shop Local for the Holidays Facebook event. The EDC maintains Available Commercial Properties lists on our website and on the Washington State Department of Commerce website to help place businesses in empty storefronts. The EDC also provides one-on-one assistance to Lincoln County businesses.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $155,000

Program Service Revenue $45,719

Investment Income $5,557

Other Revenue $9,523

TOTAL REVENUE $215,799

Expense Breakdown

Grants Paid $174,986

Salaries & Benefits $56,635

Fundraising Expenses $0

Program Expenses $198,898

Other Expenses $55,010

TOTAL EXPENSES $286,631

Year-over-Year Comparison

	2023	2022	Change
Revenue	$215,799	$293,885	-0.3%
Expenses	$286,631	$145,683	+1.0%
Net Income	$-70,832	$148,202	-1.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANICE MEATS	EXECUTIVE DIRECTOR	40.00		$58,152	$0	$58,152
DALE SWANT	President	0.00	Officer Director	$0	$0	$0
REX HARDER	Director	0.00	Director	$0	$0	$0
JAMIE MANCHESTER	Secretary	0.00	Officer Director	$0	$0	$0
BRETT EMMERT	Vice President	0.00	Officer Director	$0	$0	$0
ROSS FELICE	Director	0.00	Director	$0	$0	$0
DON PHILLIPS	Treasurer	0.00	Officer Director	$0	$0	$0
SCOTT HUTSELL	Director	0.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$215,799	$286,631	$482,728	$-70,832
2023	$293,885	$145,683	$578,142	$148,202
2022	$271,575	$148,974	$428,273	$122,601
2021	$471,908	$395,668	$335,409	$76,240
2020	$204,639	$169,386	$263,989	$35,253

LINCOLN COUNTY ECONOMIC DEVELOPMENT COUNCIL