ECONOMIC DEVELOPMENT BOARD FOR TACOMA/PIERCE COUNTY

EIN: 911040355

TACOMA, WA

Total Revenue
$2,720,128
Total Expenses
$3,338,861
Total Assets
$3,017,496
Net Assets
$2,915,394
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
WA
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 BY HELPING TO RETAIN AND ATTRACT BUSINESS IN THE AREA AND TO FURTHER ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

THE ECONOMIC DEVELOPMENT BOARD FOR TACOMA-PIERCE COUNTY (EDB) IS FUNDED AND GUIDED BY LEADERS FROM THE PRIVATE AND PUBLIC SECTORS, THE INVESTORS. CURRENTLY, MORE THEN 91 INVESTORS HAVE COMMITTED THE...

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THE ECONOMIC DEVELOPMENT BOARD FOR TACOMA-PIERCE COUNTY (EDB) IS FUNDED AND GUIDED BY LEADERS FROM THE PRIVATE AND PUBLIC SECTORS, THE INVESTORS. CURRENTLY, MORE THEN 91 INVESTORS HAVE COMMITTED THE RESOURCES THAT ENABLE THE EDB TO DELIVER CUTTING EDGE SERVICES TO PRIMARY BUSINESSES LOOKING TO CREATE JOBS IN TACOMA-PIERCE COUNTY, WASHINGTON STATE, USA. THE BOTTOM LINE IS FACILITATING PRIMARY JOBS AND WEALTH CREATION. AS A PRIVATE NOT-FOR-PROFIT CORPORATION, THE EDB BRIDGES THE GAP BETWEEN BUSINESS AND GOVERNMENT THAT IS OFTEN CRITICAL TO LARGE AND SMALL SCALE ECONOMIC DEVELOPMENT PROJECTS. EDB HAS THE EXPERTISE, CONNECTIONS, AND THE TOOLS TO GET THE JOB DONE.

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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%)

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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

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Liquidity & Cash Position

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Governance

Voting Members
46
Independent Members
46
Employees
5
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
6
$340,000
Total Directors
46
$0
Key Employees
0
$0
Highest Compensated
4
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
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