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← ECONOMIC ALLIANCE SNOHOMISH COUNTY CENTER FOR BUSINESS AND EMPLOYMENT

Form 990 for tax year 2023

Filed by ECONOMIC ALLIANCE SNOHOMISH COUNTY CENTER FOR BUSINESS AND EMPLOYMENT.

Totals

Total revenue
$111,606
Total expenses
$107,792
Contributions and grants received
$107,792
Grants paid
$0
Program service revenue
$0
Investment income
$3,814
Other revenue
$0
Total assets, end of year
$253,582
Total liabilities, end of year
$247,511
Net assets or fund balances, end of year
$6,071
Program services expenses (Part IX)
$107,792
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$107,792

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $107,792

  • 3 · Investment income

    total $3,814 · excluded $3,814

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $107,792 · program services $107,792

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $124 · end of year $188

  • 2 · Savings and temporary cash investments

    beginning of year $838,622 · end of year $253,394

  • 3 · Pledges and grants receivable

    beginning of year $10,071

  • 17 · Accounts payable and accrued expenses

    beginning of year $846,560 · end of year $247,511

  • 27 · Net assets without donor restrictions

    beginning of year $2,257 · end of year $6,071

Mission and programs · 2023

Mission

TO FOSTER JOB DEVELOPMENT, EDUCATION, AND TRAINING RELEVANT TO ECONOMIC DEVELOPMENT IN SNOHOMISH COUNTY.

Activities or mission (Part I)

FOSTER JOB DEVELOPMENT, EDUCATION, AND TRAINING IN SNOHOMISH COUNTY.

  • TO SERVE AS A SMALL BUSINESS TRANSPORTATION RESOURCE CENTER FOR THE NORTHWEST REGION (WASHINGTON, OREGON, IDAHO & ALASKA), UNDER THE MINORITY RESOURCE CENTER PROGRAM AND THE BONDING EDUCATION PROGRAM AND ENGAGE IN ACTIVITIES RELEVANT TO ECONOMIC DEVELOPMENT FOR THE COUNTY OF SNOHOMISH AND THE SURROUNDING REGION.

    Expenses $107,792

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SCOTT STRAND

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • NANCY EKREM

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RICH WHITE

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAN GAFFNEY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • GARRY CLARK JR

    PRESIDENT & CEO

    Total calculated
    $239,855
    From this org
    $0
    From related orgs
    $233,789
    Other
    $6,066
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,200 related
    Bonus
    $0 + $31,589 related
    Other
    $0
    Deferred
    $0 + $6,066 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $239,855 related

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

  • 5b · Pay contingent on a related organization's revenues

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
  • 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
EASC CBED'S PRESIDENT/CEO IS COMPENSATED BY EASC, ITS RELATED TAX-EXEMPT ORGANIZATION. EASC USES A COMPENSATION COMMITTEE, COMPENSATION STUDY OR SURVEY, AND APPROVAL BY THE BOARD OF TRUSTEES OR COMPENSATION COMMITTEE TO ESTABLISH THE PRESIDENT/ CEO'S COMPENSATION.
PART I, LINE 5
THE CEO OF ECONOMIC ALLIANCE SNOHOMISH COUNTY MAY RECEIVE AN ANNUAL BONUS THAT IS BASED ON MEASUREMENT CRITERIA IN HIS EMPLOYMENT AGREEMENT.

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
2023
Filed
11 October 2024
IRS schema version
2023v5.1
Source object
202433049349301703

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