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← THURSTON ECONOMIC DEVELOPMENT COUNCIL CENTER FOR BUSINESS & INNO

Form 990 for tax year 2024

Filed by THURSTON ECONOMIC DEVELOPMENT COUNCIL CENTER FOR BUSINESS & INNO.

Totals

Total revenue
$3,156,135
Total expenses
$3,071,897
Contributions and grants received
$3,081,745
Grants paid
$0
Program service revenue
$48,083
Investment income
$685
Other revenue
$25,622
Total assets, end of year
$470,467
Total liabilities, end of year
$303,168
Net assets or fund balances, end of year
$167,299
Program services expenses (Part IX)
$2,658,855
Management and general expenses
$413,042
Fundraising expenses
$0
Program service expenses (Part III)
$2,658,855

Program services were 86.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CHRIS LESTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • NANCY LAPOINTE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • JENNICA MACHADO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MATTHEW KILFMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • KEVIN LENEKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • DENISE SAWATZKY

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25

  • TRUDY SOUCOUP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • TODD WHITLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MICHAEL CADE

    EXECUTIVE DIRECTOR

    Total calculated
    $176,627
    From this org
    $0
    From related orgs
    $171,275
    Other
    $5,352
    Hours/week
    10 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,275 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,352 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $176,627 related

  • GRACE KENDALL

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • NOEL RUBADUE

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • SCOTT ZYLKA

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • SEAN MOORE

    DIRECTOR CB&I

    Total calculated
    $115,031
    From this org
    $115,031
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE EXECUTIVE DIRECTOR'S PAYROLL IS PAID BY A RELATED PARTY. THE EXECUTIVE COMMITTEE PROVIDES THE REVIEW OF THE EXECUTIVE DIRECTOR. THE PRESIDENT AND PRESIDENT ELECT DELIVERS THE REVIEW AND HAS FINAL APPROVAL OF THE REVIEW. THE EXECUTIVE COMMITTEE REVIEWS DATA (COMPENSATION PACKAGES) OF EXECUTIVE DIRECTORS FROM SURROUNDING AND LIKESIZED ECONOMIC DEVELOPMENT ORGANIZATIONS. ALL REVIEWS AND COMPENSATION MEMORANDUMS ARE INSERTED INTO THE EMPLOYEE FILE OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR HAS A FORMAL AND INDEPTH REVIEW ANNUALLY. A FORMAL REVIEW OCCURRED IN 2021.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202513099349304161

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