Thurston County Economic Development Council

“In absence of a regular board meeting the executive committee comprised of the officers may take action as long as it is reported to the full board at the next regularly scheduled meeting.”

“The organization is supported by private memberships dues. The classes of members are as follows: primary $500, associate $1,000, participant $2,500, corporate $5,000, major $7,500, principal $10,000.”

“Board of directors are elected by a vote of the edc membership.”

“Members of the organization must approve any amendments to the bylaws in an action by the board. The members may amend, alter or repeal the bylaws at any annual or special meeting of the membership if notice of the proposed alteration or amendment is contained in the notice of the meeting.”

“The form 990 is reviewed by management and finance committee.”

“The conflict of interest policy is monitored and enforced through the executive committee of the board of directors, as per the personnel policies and bylaws annually. It covers board members and employees.”

“There is a formal review process. The executive committee provides the review of the executive director. The president and president elect deliver the review and have 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 in depth review annually. A formal review occurred in 2021. The process described here was last completed in 2023.”

“Policies, governing documents, and financial statements are all available for public inspection upon request.”

“Professional fees: program service expenses 14,971. Management and general expenses 38,538. Fundraising expenses 0. Total expenses 53,509. Contracted services: program service expenses 1,551,533. Management and general expenses 12,535. Fundraising expenses 0. Total expenses 1,564,068.”