THURSTON COUNTY ECONOMIC DEVELOPMENT COUNCIL

EIN: 911183169

LACEY, WA

Total Revenue
$4,341,072
Total Expenses
$4,295,565
Total Assets
$994,445
Net Assets
$358,470
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
WA
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

THE MISSION OF THE THE THURSTON EDC IS TO PROMOTE AND INCREASE SUSTAINABLE ECONOMIC, INVESTMENT AND EMPLOYMENT OPPORTUNITIES THROUGHOUT THURSTON COUNTY THAT SUPPORT THE LIVELIHOOD, VALUES OF THE RESIDENTS OF THE COUNTY.

Program Service Accomplishments

Program 1
Expenses: $514,826 Revenue: $314,565

THURSTON STRONGTHE THURSTON STRONG ECONOMIC RESPONSE AND RECOVERY INITIATIVE IS SUPPORTED BY FUNDING FROM THE U.S. DEPARTMENT OF THE TREASURY UNDER THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY...

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THURSTON STRONGTHE THURSTON STRONG ECONOMIC RESPONSE AND RECOVERY INITIATIVE IS SUPPORTED BY FUNDING FROM THE U.S. DEPARTMENT OF THE TREASURY UNDER THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS AWARD AS PROVIDED BY THE AMERICAN RESCUE PLAN ACT. IN 2023, OVER $100,000 WENT TO GRANT AWARDEES. THE GOAL OF THE THURSTON STRONG GRANTS ARE TO PROVIDE FUNDING FOR BUSINESSES DIRECTLY AFFECTED BY COVID-19.

Program 2
Expenses: $2,802,390 Revenue: $1,958,150

APEX ACCELERATORAPEX ACCELERATOR PROVIDES COMPREHENSIVE SUPPORT TO BUSINESSES SEEKING TO WIN GOVERNMENT CONTRACTS AND SUBCONTRACTS. THE ONE-ON-ONE TECHNICAL ASSISTANCE INCLUDES BID REVIEWS, MARKETING...

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APEX ACCELERATORAPEX ACCELERATOR PROVIDES COMPREHENSIVE SUPPORT TO BUSINESSES SEEKING TO WIN GOVERNMENT CONTRACTS AND SUBCONTRACTS. THE ONE-ON-ONE TECHNICAL ASSISTANCE INCLUDES BID REVIEWS, MARKETING ASSISTANCE, CONTRACT PERFORMANCE, SMALL BUSINESS CERTIFICATIONS, AND MORE. APEX ACCELERATORS AND PTACS ALSO HOSTS PROCUREMENT TRAINING CLASSES AND SEMINARS, AND HELPS BUSINESSES REGISTER WITH THE CORRECT DATABASES IN ORDER TO COMPETE FOR GOVERNMENT CONTRACTS. WASHINGTON APEX ACCELERATOR'S MISSION IS TO INCREASE THE NUMBER OF GOVERNMENT CONTRACTS AWARDED TO WASHINGTON FIRMS SO THAT THOSE FIRMS CAN GROW.

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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 $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

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Liquidity & Cash Position

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Governance

Voting Members
24
Independent Members
24
Employees
21
Volunteers
30

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
4
$161,074
Total Directors
25
$161,074
Key Employees
0
$0
Highest Compensated
4
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
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