THURSTON ECONOMIC DEVELOPMENT COUNCIL CENTER FOR BUSINESS AND INNOVATION

EIN: 911561600 501(c)(3) Unknown

LACEY, WA

Total Revenue
$4,139,814
Total Expenses
$4,242,386
Total Assets
$624,890
Net Assets
$83,061
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
WA
Principal Officer
MICHAEL CADE
Phone
3607546320
Tax Period
2023-01-01 to 2023-12-31

THURSTON ECONOMIC DEVELOPMENT COUNCIL CENTER FOR BUSINESS AND INNOVATION, founded in 1992, is a community nonprofit in the Unknown sector that reported $4.1M in total revenue in fiscal year 2023. Revenue surged 122% from the prior year, signaling strong growth momentum.

Mission

PROVIDE SERVICES THAT DEVELOP THE ENTREPRENEURIAL NETWORK OF THURSTON COUNTY AND SUPPORT THE ENTIRE BUSINESS LIFECYCLE FROM PLANNING, LAUNCHING, GROWING, TURNAROUND & EXIT PLANNING.

Program Service Accomplishments

Program 1
Expenses: $3,100,364 Revenue: $20,969

SOUTHWEST WASHINGTON AGRICULTURAL BUSINESS & INNOVATION PARKTHE SW AGRICULTURE BUSINESS & INNOVATION PARK IS AN INTEGRATED MULTI-TENANT BUSINESS PARK FOCUSED ON VALUE-ADDED, AGRICULTURAL/...

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SOUTHWEST WASHINGTON AGRICULTURAL BUSINESS & INNOVATION PARKTHE SW AGRICULTURE BUSINESS & INNOVATION PARK IS AN INTEGRATED MULTI-TENANT BUSINESS PARK FOCUSED ON VALUE-ADDED, AGRICULTURAL/ FOOD-RELATED ENTERPRISES. LOCATED WITHIN THE CITY OF TENINO, THE PARK WILL INCLUDE A STATE-OF-THE ART HOSPITALITY EVENT CENTER AND BUSINESS RESOURCE INNOVATION HUB. THE PARK WILL BECOME AN AGRI-TOURISM DESTINATION AND WILL BE A STEP TOWARD ESTABLISHING A LOCAL SUPPLY FOOD CHAIN. FUTURE PHASES OF THE PARK MAY ALSO INCLUDE ESTABLISHING RESEARCH & EDUCATIONAL COMPONENTS. A FULLY DEVELOPED AGRICULTURAL PARK COULD PROVIDE AN ESTIMATED 150 JOBS. ONCE ESTABLISHED IT IS PROJECTED THAT THE PARK COULD GENERATE MORE THAN $25 MILLION FOR THE REGION. OPENING OF THE AGRICULTURE PARK IS PROJECTED FOR EARLY FALL 2024.

Program 2
Expenses: $699,936 Revenue: $195,467

LACEY MAKERSPACETHE ROY HEYNDERICKX HUB FOR INNOVATION AT THE LACEY MAKERSPACE IS A WORKSHOP FOR BUILDERS, INVENTORS, AND ANYONE WHO WANTS TO EXPLORE THEIR CREATIVITY. LOCATED ON THE SAINT MARTIN'S...

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LACEY MAKERSPACETHE ROY HEYNDERICKX HUB FOR INNOVATION AT THE LACEY MAKERSPACE IS A WORKSHOP FOR BUILDERS, INVENTORS, AND ANYONE WHO WANTS TO EXPLORE THEIR CREATIVITY. LOCATED ON THE SAINT MARTIN'S UNIVERSITY CAMPUS IN ZAVERL HALL, THE SPACE SERVES AS A LAUNCHING POINT FOR ECONOMIC GROWTH, ESPECIALLY IN THE ADVANCED MANUFACTURING SECTOR. THE LACEY MAKERSPACE BENEFITS THE COMMUNITY BY PROVIDING ACCESS TO ADVANCED DESIGN AND FABRICATION TOOLS, BUSINESS AND EDUCATION RESOURCES, AND SKILL DEVELOPMENT. LMS HAS BUILT OUT AN ONLINE-LEARNING COURSE HOME PAGE ON TEACHABLE. SEVERAL COURSES ARE IN THE FINAL STAGES OF EDITING, TO BE LOADED AND MADE AVAILABLE SOON.LMS MADE SEVERAL LARGE EQUIPMENT AND SUPPLY PURCHASES FROM THE EDA GRANT LIST, INCLUDING THE PROTOMAX WATERJET, MOSAIC ELEMENT PRINTERS, EMBROIDERY MACHINE AND MORE AND IS PREPARING THE NEXT ROUND OF PURCHASES, TO INCLUDE A ROTARY AIR COMPRESSOR, DIRECT TO GARMENT PRINTER, VIRTUAL WELDER, AND GENERAL SHOP SUPPLIES AND TOOLS.

Program 3
Expenses: $162,243 Revenue: $165,753

WASHINGTON CENTER FOR WOMEN IN BUSINESSTHE WASHINGTON CENTER FOR WOMEN IN BUSINESS OFFERS NO COST, ONE-ON-ONE BUSINESS COACHING WITH PROFESSIONALS EXPERIENCED IN BUSINESS STARTUP, FINANCE...

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WASHINGTON CENTER FOR WOMEN IN BUSINESSTHE WASHINGTON CENTER FOR WOMEN IN BUSINESS OFFERS NO COST, ONE-ON-ONE BUSINESS COACHING WITH PROFESSIONALS EXPERIENCED IN BUSINESS STARTUP, FINANCE, ACCOUNTING, MARKETING, AND OPERATIONS. COACHING CAN BE CONDUCTED OVER THE PHONE, THROUGH WEBINARS, OR IN PERSON. ENTREPRENEURS WILL LEAVE COACHING SESSIONS WITH A LIST OF NEXT STEPS IN THEIR BUSINESS JOURNEY.IN 2023, THE WCWB SERVED 339 BUSINESSES, STARTED 31 BUSINESSES, COUNSELED 292 BUSINESSES, AND HANDED OUT $23,500 WORTH OF SCHOLARSHIPS TOTAL TO 47 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,118,143
Program Service Revenue $15,879
Investment Income $702
Other Revenue $5,090
TOTAL REVENUE $4,139,814

Expense Breakdown

Grants Paid $0
Salaries & Benefits $726,960
Fundraising Expenses $0
Program Expenses $3,962,543
Other Expenses $3,515,426
TOTAL EXPENSES $4,242,386

Year-over-Year Comparison

2023 2022 Change
Revenue $4,139,814 $1,866,030 +1.2%
Expenses $4,242,386 $1,821,992 +1.3%
Net Income $-102,572 $44,038 -3.3%
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
8
Independent Members
8
Employees
16
Volunteers
18

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
9
$161,074
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL CADE EXECUTIVE DIRECTOR 10.00
Officer Director
$0 $4,911 $161,074
NANCY LAPOINTE PRESIDENT 0.25
Officer Director
$0 $0 $0
GRACE KENDALL PRESIDENT-ELECT 0.25
Director
$0 $0 $0
NOEL RUBADUE SECRETARY 0.25
Officer Director
$0 $0 $0
SCOTT ZYLKA TREASURER 0.25
Officer Director
$0 $0 $0
KEVIN LENEKER DIRECTOR 0.25
Director
$0 $0 $0
DENISE SAWATZKY DIRECTOR 0.25
Director
$0 $0 $0
TRUDY SOUCOUP DIRECTOR 0.25
Director
$0 $0 $0
TODD WHITLEY DIRECTOR 0.25
Director
$0 $0 $0
SEAN MOORE DIRECTOR CB&I 40.00
Highest
$101,092 $0 $101,092
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 $4,139,814 $4,242,386 $624,890 $-102,572
2022 $1,866,030 $1,821,992 $630,642 $44,038
2021 $988,794 $1,206,608 $459,422 $-217,814
2020 $2,124,126 $1,819,085 $773,294 $305,041
2019 $542,887 $575,435 $124,757 $-32,548
2018 $612,331 $563,415 $185,235 $48,916
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