Tri-County Council Foundation INC: Nonprofit Profile, Financials & Form 990 (EIN 26-0353071)

Revenue by fiscal year
FY2020	$3.8M
FY2021	$3.8M
FY2022	$4.4M
FY2023	$4.9M
FY2024	$5.9M
FY2024	$6.4M

Expenses by fiscal year
FY2020	$3.9M
FY2021	$3.8M
FY2022	$4.4M
FY2023	$4.9M
FY2024	$5.8M
FY2024	$6.3M

Net assets by fiscal year
FY2020	$183K
FY2021	$207K
FY2022	$185K
FY2023	$209K
FY2024	$268K
FY2024	$386K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $6.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation

Eldon Willing

Past Chair

$0Pt VII · Sec A

Jeff Merritt

Chair

$0Pt VII · Sec A

Joe Mitrecic

1st Vice-Chair

$0Pt VII · Sec A

Randy Laird

2nd Vice-Chair

$0Pt VII · Sec A

Diana Purnell

Secretary

$0Pt VII · Sec A

Darryl Webster

Treasurer

$0Pt VII · Sec A

Senator Mary Beth Carozza

At-Large

$0Pt VII · Sec A

James Winn

3rd Vice-Chair

$0Pt VII · Sec A

See Tri-County Council Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Boosts jobs and economic growth on Maryland and Virginia's Lower Eastern Shore.

Provided by the organization

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1 program · $6.3M · in their own filed words · FY2024

01

To support economic development, job growth, retention and development of the lower eastern shore of maryland and virginia. These activities are primarily funded through grant awards.

$6.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2024

The Kahlert Foundation INCFY2024$25K

Pentagon Federal Credit Union Fdn Penfed FoundationFY2024$12K

Charities Aid Foundation AmericaFY2024$8K

Community Foundation of the Eastern Shore INCFY2024$6K

Total grants receivedfrom 4 funders$51K

See all 4 funders →

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$6.4M

Ln 12

Fees for servicesLn 2g$6.1M

Gifts and grantsLn 1h$240K

Money outPt IX

$6.3M

Ln 25

Programscol B$6.3M

Owns and owesPt X

$386K

net assets · Ln 32

Cash and savingsLn 1–2$734K

Total assetsLn 16$792K

LiabilitiesLn 26$407K

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$240K

Fees for servicesLn 2g$6.1M

Total revenueLn 12$6.4M

Assets in detailPt X, end of year

CashLn 1$734K

Cash and savings togetherLn 1–2$734K

Land, buildings, equipmentLn 10c$0

Total assetsLn 16$792K

LiabilitiesLn 26$407K

Net assetsLn 32$386K

OperationsPt I, VI

EmployeesI 5205

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$366K	$734K
Land, buildings, equipmentLn 10c	$0	$0
Total assetsLn 16	$519K	$792K
LiabilitiesLn 26	$251K	$407K
Net assetsLn 32	$268K	$386K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$4.7M	$4.7M
Payroll taxesLn 10	$702K	$702K
Management feesLn 11a	$77K	$77K
Advertising and promotionLn 12	$12K	$12K
Office expensesLn 13	$1K	$1K
OccupancyLn 16	$3K	$3K
TravelLn 17	$60K	$60K
Conferences, conventions and meetingsLn 19	$188K	$188K
Other expenses (24a–d)Ln 24	$500K	$500K
All other expensesLn 24e	$2K	$2K
Total functional expensesLn 25	$6.3M	$6.3M	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$5.9M	$5.8M	$59K	$268K	990 PDF
FY2023	$4.9M	$4.9M	$24K	$209K	990 PDF
FY2022	$4.4M	$4.4M	−$22K	$185K	990 PDF
FY2021	$3.8M	$3.8M	$25K	$207K	990 PDF
FY2020	$3.8M	$3.9M	−$80K	$183K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $6,379,683 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $355,488$239,656

I-9 Program service revenuePrior year $5,552,610$6,140,027

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $5,908,098$6,379,683

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $4,863,135$5,417,738

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $986,046$844,365

I-18 Total expensesPrior year $5,849,181$6,262,103

I-19 Revenue less expensesPrior year $58,917$117,580

Part VI · Governance 0 of 7 board members independent, 4 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members0

VI-2 Family or business relationship among officers or directorsYes

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $6,379,683 across 4 lines filed

VIII-1f All other contributions, gifts and grants$239,656

VIII-1h Total contributions, gifts and grants$239,656

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,140,027$6,140,027

VIII-12 Total revenueRelated to mission $6,140,027 · Unrelated business $0 · Excluded from tax $0$6,379,683

Part IX · Statement of functional expenses $6,262,103 across 10 lines filed

IX-7 Other salaries and wagesPrograms $4,716,189$4,716,189

IX-10 Payroll taxesPrograms $701,549$701,549

IX-11a Management feesPrograms $77,441$77,441

IX-12 Advertising and promotionPrograms $12,007$12,007

IX-13 Office expensesPrograms $1,071$1,071

IX-16 OccupancyPrograms $2,932$2,932

IX-17 TravelPrograms $60,442$60,442

IX-19 Conferences, conventions and meetingsPrograms $188,033$188,033

IX-24 Other expenses (24a–d)Programs $500,245$500,245

IX-24e All other expensesPrograms $2,194$2,194

IX-25 Total functional expensesPrograms $6,262,103 · Management $0 · Fundraising $0$6,262,103

Part X · Balance sheet $792,350 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $366,234$733,640

X-3 Pledges and grants receivableStart of year $85,620$19,210

X-9 Prepaid expenses and deferred chargesStart of year $66,775$39,500

X-10c Land, buildings and equipment, netStart of year $0$0

X-16 Total assetsStart of year $518,629$792,350

X-17 Accounts payable and accrued expensesStart of year $58,480$190,080

X-19 Deferred revenueStart of year $192,064$216,605

X-26 Total liabilitiesStart of year $250,544$406,685

X-32 Total net assets or fund balancesStart of year $268,085$385,665

X-33 Total liabilities and net assetsStart of year $518,629$792,350

Part XI · Reconciliation of net assets $385,665 net assets at year end

XI-1 Total revenue$6,379,683

XI-2 Total expenses$6,262,103

XI-3 Revenue less expenses$117,580

XI-4 Net assets at start of year$268,085

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$385,665

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Tri-County Council Foundation INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Funders

Grants

Related Organizations

By the numbers

Filing history

Schedules filed Part IV