Tri-city Development Council Inc
Nonprofit profile at a glance
- EIN
- 916053966
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Kennewick, WA, USA
- Phone
- 5097351000
- Rating
- 49
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,603,460
- Expenses
- $1,533,427
- Assets
- $2,864,237
- Liabilities
- $187,127
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
40 people listed
Executive titles in this filing
- KARL DYE (President & CEO)
Highest reported compensation
- KARL DYE (President & CEO): $220,042 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
It is the mission of TRIDEC to improve the economic health of the Tri-Cities area.To achieve this mission, TRIDEC promotes economic diversification, facilitates job creation and retention, pursues new federal missions to support stability in federally funded operations and advocates and leads the Tri-Cities community on issues of economic importance.
What it reported doing in 2024
Economic development of the tri-cities (pasco, kennewick, richland, & west richland) and the surrounding areas of southeastern Washington state through promotion, recruitment, and diversification of the economic base. Improvement of economic conditions and business opportunities to almost 300 members. Direct contacts with multiple companies within targeted industries to recruit new industry and foster economic development to further diversify the local economy. Participated in multiple trade and industrial development activities including trade shows, conferences, direct and indirect business recruitment. Responded to many direct inquiries from businesses seeking information on the local area including labor force, potential site selection and other relevant market data.
Operating model
- Revenue model
- Other-operating. 74% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 95
- Accountability: 79
- Sustainability: 50
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 4.4%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 1.87; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
- Officer compensation ratio: 14.3%; rating input score 24; 24th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 0.7% per year; rating input score 100; 17th percentile among comparable filings
- Asset growth: -4.3% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 39 of 39 board members independent · 4 of 8 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $220K · 40 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $104K reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 3 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 48/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 24/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 48/100.