ECONOMIC DEVELOPMENT BOARD FOR TACOMA/PIERCE COUNTY (EIN 911040355) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

MICHAEL CATSI

Phone

2533834726

Tax Period

2023-01-01 to 2023-12-31

ECONOMIC DEVELOPMENT BOARD FOR TACOMA/PIERCE COUNTY, founded in 1978, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2023. Revenue surged 218% from the prior year, signaling strong growth momentum. Expenses of $3.3M exceeded revenue, resulting in a 23% operating deficit.

Mission

TO PROMOTE BUSINESS DEVELOPMENT IN THE TACOMA-PIERCE COUNTY REGION OF WASHINGTON STATE.

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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 $2,585,632

Program Service Revenue $122,577

Investment Income $11,919

Other Revenue $0

TOTAL REVENUE $2,720,128

Expense Breakdown

Grants Paid $12,500

Salaries & Benefits $1,099,298

Fundraising Expenses $0

Other Expenses $2,227,063

TOTAL EXPENSES $3,338,861

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,720,128	$855,027	+2.2%
Expenses	$3,338,861	$1,489,215	+1.2%
Net Income	$-618,733	$-634,188	0.0%

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

$340,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC JOHNSON	AT LARGE	1.00	Director	$0	$0	$0
VICTORIA WOODARDS	AT LARGE	1.00	Director	$0	$0	$0
ALLAN BELTON	DIRECTOR	1.00	Director	$0	$0	$0
DIANNE AROH	DIRECTOR	1.00	Director	$0	$0	$0
NIGEL ENGLISH	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT JONES	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GRIFFUS	DIRECTOR	1.00	Director	$0	$0	$0
STEVE SUGG	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS TUBIG	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN CAULFIELD	DIRECTOR	1.00	Director	$0	$0	$0
DON CLARK	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE PLOOF	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HUANG	DIRECTOR	1.00	Director	$0	$0	$0
GREG BIERSACK	DIRECTOR	1.00	Director	$0	$0	$0
ERIK HYNES	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH PAULI	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA REAY	DIRECTOR	1.00	Director	$0	$0	$0
DOUG OBERST	DIRECTOR	1.00	Director	$0	$0	$0
JIM BEATTY	DIRECTOR	1.00	Director	$0	$0	$0
JACKIE FLOWERS	AT LARGE	1.00	Director	$0	$0	$0
KATIE CONDIT	DIRECTOR	1.00	Director	$0	$0	$0
LORI FORTE HARNICK	DIRECTOR	1.00	Director	$0	$0	$0
MARKISS COOPER	DIRECTOR	1.00	Director	$0	$0	$0
MARTY CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL SMITH	DIRECTOR	1.00	Director	$0	$0	$0
ANDY TAKATA	DIRECTOR	1.00	Director	$0	$0	$0
ODETTE D'ANIELLO	DIRECTOR	1.00	Director	$0	$0	$0
MIKE DE ALWIS	DIRECTOR	1.00	Director	$0	$0	$0
RON DEBCHOUDHURY	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA EDWARDS LANGE	DIRECTOR	1.00	Director	$0	$0	$0
BILL GAINES	EMERITUS	1.00	Director	$0	$0	$0
CURT GIMMESTAD	DIRECTOR	1.00	Director	$0	$0	$0
IVAN HARRELL II	DIRECTOR	1.00	Director	$0	$0	$0
ALEX HOFELING	DIRECTOR	1.00	Director	$0	$0	$0
NATHE LAWVER	DIRECTOR	1.00	Director	$0	$0	$0
BEV LOSEY	EMERITUS	1.00	Director	$0	$0	$0
BETT LUCAS	AT LARGE	1.00	Director	$0	$0	$0
THULI LUSHABA	DIRECTOR	1.00	Director	$0	$0	$0
JEMIMA MCCULLUM	DIRECTOR	1.00	Director	$0	$0	$0
MATT MCLENNAN	DIRECTOR	1.00	Director	$0	$0	$0
AJ MILLER	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE NAHN	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY UNRUH	DIRECTOR	1.00	Director	$0	$0	$0
JASON WHALEN	EMERITUS	1.00	Director	$0	$0	$0
DAVE ZEECK	EMERITUS	1.00	Director	$0	$0	$0
HERB SIMON	TREASURER	1.00	Officer	$0	$0	$0
LISA GOODMAN	CHAIR	1.00	Officer	$0	$0	$0
DAVID MOORE DEVINE	VICE CHAIR	1.00	Officer	$0	$0	$0
BRUCE KENDALL	PRESIDENT & CEO	40.00	Officer	$307,070	$32,930	$340,000
BRUCE DAMMEIER	SECRETARY	1.00	Officer	$0	$0	$0
BRIAN MARLOW	IMMEDIATE PAST CHAIR	1.00	Officer	$0	$0	$0
DEBORAH KELLY	DIRECTOR OF OPERATIONS	40.00	Highest	$155,632	$19,906	$175,538
SARAH BONDS	VP OF BUSINESS RECRUITMENT	40.00	Highest	$156,496	$20,906	$177,402
MADALAIN MERTON	VP OF BUSINESS RETENTION	40.00	Highest	$155,517	$20,818	$176,335
TAMSIN BELL	VP OF BUSINESS DEVELOPMENT	40.00	Highest	$146,319	$24,959	$171,278

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
2024	No data	No data	No data	No data
2023	$2,720,128	$3,338,861	$3,017,496	$-618,733
2022	$855,027	$1,489,215	$3,711,110	$-634,188
2021	$3,483,697	$1,581,679	$4,277,289	$1,902,018
2020	$991,904	$1,431,821	$2,339,438	$-439,917
2019	$870,454	$1,438,679	$2,744,950	$-568,225
2018	$859,210	$1,456,048	$3,316,109	$-596,838

ECONOMIC DEVELOPMENT BOARD FOR TACOMA/PIERCE COUNTY