THURSTON COUNTY ECONOMIC DEVELOPMENT COUNCIL (EIN 911183169) - 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

1981

Legal Domicile

Principal Officer

MICHAEL CADE

Phone

3607546320

Tax Period

2023-01-01 to 2023-12-31

THURSTON COUNTY ECONOMIC DEVELOPMENT COUNCIL, founded in 1981, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2023. Revenue fell 48% from the prior year — a significant decline worth monitoring.

Mission

PROMOTE SUSTAINABLE ECONOMIC, INVESTMENT AND EMPLOYMENT OPPORTUNITIES THROUGHOUT THURSTON COUNTY.

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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 $4,026,274

Program Service Revenue $314,565

Investment Income $233

Other Revenue $0

TOTAL REVENUE $4,341,072

Expense Breakdown

Grants Paid $120,600

Salaries & Benefits $1,973,613

Fundraising Expenses $0

Program Expenses $3,317,216

Other Expenses $2,201,352

TOTAL EXPENSES $4,295,565

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,341,072	$8,399,812	-0.5%
Expenses	$4,295,565	$8,308,981	-0.5%
Net Income	$45,507	$90,831	-0.5%

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

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

$161,074

Total Directors

$161,074

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CADE	EXECUTIVE DIRECTOR	45.00	Officer Director	$156,163	$4,911	$161,074
MARK STEEPY	PRESIDENT	0.50	Officer Director	$0	$0	$0
HEATHER BURGESS	IMMEDIATE PAST PRESIDENT	0.50	Officer Director	$0	$0	$0
MICHAEL MCGAULY	SECRETARY / TREASURER	0.50	Officer Director	$0	$0	$0
PETER AGABI	DIRECTOR	0.50	Director	$0	$0	$0
REID BATES	DIRECTOR	0.50	Director	$0	$0	$0
JOE DEPINTO	DIRECTOR	0.50	Director	$0	$0	$0
JIM COOPER	DIRECTOR	0.50	Director	$0	$0	$0
MARC DAILY	DIRECTOR	0.50	Director	$0	$0	$0
JOE DOWNING	DIRECTOR	0.50	Director	$0	$0	$0
GARY EDWARDS	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN FLUETSCH	DIRECTOR	0.50	Director	$0	$0	$0
WAYNE FOURNIER	DIRECTOR	0.50	Director	$0	$0	$0
DARYL FOURTNER	DIRECTOR	0.50	Director	$0	$0	$0
JESSICA JENSEN	DIRECTOR	0.50	Director	$0	$0	$0
DAN JONES	DIRECTOR	0.50	Director	$0	$0	$0
CECILIA LOVELESS	DIRECTOR	0.50	Director	$0	$0	$0
MALCOLM MILLER	DIRECTOR	0.50	Director	$0	$0	$0
EVAN PARKER	DIRECTOR	0.50	Director	$0	$0	$0
ANNETTE PITTS	DIRECTOR	0.50	Director	$0	$0	$0
DR TIMOTHY STOKES	DIRECTOR	0.50	Director	$0	$0	$0
TONY TAYLOR	DIRECTOR	0.50	Director	$0	$0	$0
CARRIE WHISLER	VICE PRESIDENT	0.50	Director	$0	$0	$0
CHRIS WOODS	DIRECTOR	0.50	Director	$0	$0	$0
SHINA WYSOCKI	DIRECTOR	0.50	Director	$0	$0	$0
TIFFANY SCROGGS	PROGRAM MANAGER	40.00	Highest	$116,933	$4,727	$121,660
GENE ANGEL	DIRECTOR OF RESEARCH & EVALUATION	40.00	Highest	$101,148	$3,087	$104,235
HEIDI MCCUTCHEON	DEPUTY DIRECTOR	40.00	Highest	$111,904	$3,231	$115,135
THOMAS MEADE	DIRECTOR OF STRATEGIC ALLIANCES	40.00	Highest	$106,850	$4,406	$111,256

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	$4,341,072	$4,295,565	$994,445	$45,507
2022	$8,399,812	$8,308,981	$900,230	$90,831
2021	$3,432,826	$3,446,429	$705,199	$-13,603
2020	$11,357,023	$11,071,784	$678,981	$285,239
2019	$2,100,960	$2,079,827	$301,487	$21,133
2018	$2,334,374	$2,322,550	$319,906	$11,824

THURSTON COUNTY ECONOMIC DEVELOPMENT COUNCIL