AMERITRUST CDC

EIN: 205644200 501(c)(3) Community Improvement

EDMONDS, WA

Total Revenue
$1,717,258
Total Expenses
$1,905,975
Total Assets
$1,795,805
Net Assets
$737,046
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
WA
Principal Officer
KIM WILLIS
Phone
4257876100
Tax Period
2023-10-01 to 2024-09-30

AMERITRUST CDC, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2023. Expenses of $1.9M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROMOTE AND FACILITATE A LOAN PROGRAM ENTITLED "504" WHICH ENCOURAGES ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $1,543,446 Revenue: $1,717,258

TO OPERATE THE "504" LOAN PROGRAM OF THE SMALL BUSINESS ADMINISTRATION WHICH ENCOURAGES ECONOMICDEVELOPMENT AND CREATE JOBS FOR SMALL BUSINESSES. THE "504" PROGRAM IS CERTIFIED BY THE SMALL BUSINESS...

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TO OPERATE THE "504" LOAN PROGRAM OF THE SMALL BUSINESS ADMINISTRATION WHICH ENCOURAGES ECONOMICDEVELOPMENT AND CREATE JOBS FOR SMALL BUSINESSES. THE "504" PROGRAM IS CERTIFIED BY THE SMALL BUSINESS ADMINISTRATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,695,653
Investment Income $12,603
Other Revenue $9,002
TOTAL REVENUE $1,717,258

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,547,288
Fundraising Expenses $0
Program Expenses $1,543,446
Other Expenses $358,687
TOTAL EXPENSES $1,905,975

Year-over-Year Comparison

2023 2022 Change
Revenue $1,717,258 $1,747,236 0.0%
Expenses $1,905,975 $1,978,052 0.0%
Net Income $-188,717 $-230,816 -0.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
6
Employees
11
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$277,459
Total Directors
7
$277,459
Key Employees
1
$193,063
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIM WILLIS BOARD OF DIRECTOR 40.00
Officer Director
$261,886 $15,573 $277,459
MIKE BROWN BOARD OF DIRECTOR 2.00
Director
$0 $0 $0
WADE STRINGFIELD BOARD OF DIRECTOR 2.00
Director
$0 $0 $0
MARK ROGERS BOARD OF DIRECTOR 2.00
Director
$0 $0 $0
JOE BEITLY BOARD OF DIRECTOR 2.00
Director
$0 $0 $0
LAUREN HAWLEY BOARD OF DIRECTOR 2.00
Director
$0 $0 $0
JOHN NELSON BOARD OF DIRECTOR 2.00
Director
$0 $0 $0
MARK WILLIS KEY EMPLOYEE 40.00
Key Emp
$185,506 $7,557 $193,063
BRETT VEHRS EMPLOYEE 40.00
Highest
$158,054 $34,797 $192,851
JASON M TYDEMAN HIGHLY COMPENSATED 40.00
Highest
$153,040 $5,589 $158,629
RYAN VEHRS CONTROLLER 40.00
Highest
$153,408 $15,923 $169,331
DIANE BLASHILL HIGHLY COMPENSATED 40.00
Highest
$147,946 $27,831 $175,777
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,717,258 $1,905,975 $1,795,805 $-188,717
2023 $1,747,236 $1,978,052 $1,885,797 $-230,816
2022 $1,694,505 $1,681,742 $1,777,009 $12,763
2021 $1,891,460 $1,586,105 $1,782,225 $305,355
2020 $1,804,350 $1,538,591 $1,981,988 $265,759
2019 $1,640,007 $1,520,963 $1,758,511 $119,044
2018 $1,423,119 $1,370,984 $1,355,860 $52,135
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