TSEP Success Report - 2020
“BECAUSE OF THE STEADFAST AND GROWING SUPPORT OF OUR MEMBERS OVER THE YEARS, WE HAVE BEEN ABLE TO IMPACT THOUSANDS OF LIVES IN TIFFIN AND RURAL SENECA COUNTY. WE CAN’T THANK THEM ENOUGH.” David Zak, TSEP President & CEO
We cannot thank our members enough and are proud of their support. Our members are an elite group of the most important and successful companies in Tiffin, rural Seneca County, and northwest Ohio. They are leaders in their industries. They understand that the best way to guarantee their long-term business success is to support the organization that has proven to grow and improve the economy, the downtown, the city and county, and the workforce. They appreciate an organization that is a state and national leader, with the passion, drive, talent, skill, and commitment to move Tiffin and rural Seneca County forward into a brighter and more prosperous future. We want our members and public partners to know that we, as a public-private partnership, are as committed to fiscal responsibility as we are to results. We want them to know the following about the financial side of our operation: • We have a $409,000 operational budget, of which $379,000 is raised and $30,000 is earned through fees and fundraisers. Every year we approve a balanced budget. • We have a team of 5 full-time professionals, an intern, and we will be hiring an Operations Manager in 2021 to allow us to continue to sustain our level of activity and our excellence, collaboration, innovation, and results. • We benchmarked 10 other similar economic development (ED) organizations, and we have the widest scope of activities. We are the only one to run a downtown organization, the only one to also focus on community development, and the only one with such a strong partnership with DJFS. We are also only 1 of 2 with staff dedicated to entrepreneurship. • Our budget is the lowest per team member. Overall, our operational budget ranks ties for fourth out of the ten organizations we surveyed. • Of the 10 surveyed, 8 did private fundraising. Of those 8, TSEP ranked second lowest for percentage of private fundraising (42%). • Of those organizations raising private funds, our campaigns are the least frequent (last one in 2014). Most organizations conduct campaigns every 3 to 5 years, and often they em- ploy professional fundraisers, who take a significant percentage of the funds raised.
of our operational funding comes from our public partners – the city of Tiffin and Seneca County.
The remaining 42% of op- erational funding comes from our members.
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