NORTHWEST INNOVATION RESOURCE CTR

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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

2010

Legal Domicile

Principal Officer

ANDREW BUCHAN

Phone

3602557870

Tax Period

2023-01-01 to 2023-12-31

NORTHWEST INNOVATION RESOURCE CTR, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $464K in total revenue in fiscal year 2023. The organization ran a surplus of $87K, a strong 19% operating margin.

Mission

NWIRC IS DEDICATED TO CREATING ECONOMIC OPPORTUNITY AND JOBS THROUGH INNOVATION. THE NWIRC ACCELERATES EARLY-STAGE STARTUP COMPANIES AND THEIR RATE OF SUCCESS THROUGH MENTORSHIP, RESOURCES, AND ACCOUNTABILITY. THOUGH THE NWIRC PROVIDES ASSISTANCE TO ALL EARLY-STAGE STARTUP COMPANIES, THEY HAVE PARTICULAR FOCUS ON THE RENEWABLE RESOURCE TECHNOLOGIES AND PRODUCT INVENTORS.

Program Service Accomplishments

Program 1

Expenses: $212,482 Revenue: $194,722

1. RECEIVED GRANT FROM SNOHOMISH COUNTY TO INCREASE CAPACITY FOR DATA BOOTCAMP TRAINING. 2. RECEIVED COMMUNITY PROJECT FUNDING FOR RENOVATION OF TWO INNOVATION CENTERS (SEDRO WOOLLEY IN SKAGIT COUNTY AND ARLINGTON IN SNOHOMISH COUNTY). 3. COMPLETED THE THIRD BLUETECH/ CLEANTECH INNOVATION COHORT. 4. CONDUCTED SECOND ACCELERATOR FOR CANADIAN INDIGENOUS OWNED BUSINESS IN PARTNERSHIP WITH BC TRADE AND CANADIAN CONSULATE. 5. IMPLEMENTED PROGRAM TO ASSIST ENTREPRENEURS TO SUCCEED IN ACQUIRING FUNDING FOR THEIR STARTUP COMPANIES.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $267,233

Program Service Revenue $194,722

Investment Income $1,884

Other Revenue $0

TOTAL REVENUE $463,839

Expense Breakdown

Grants Paid $0

Salaries & Benefits $202,612

Fundraising Expenses $0

Program Expenses $212,482

Other Expenses $174,448

TOTAL EXPENSES $377,060

Year-over-Year Comparison

	2023	2022	Change
Revenue	$463,839	$435,371	+0.1%
Expenses	$377,060	$420,083	-0.1%
Net Income	$86,779	$15,288	+4.7%

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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM DOUGHTY	PAST CHAIR	N/A	Officer Director	$0	$0	$0
ANDREW BUCHAN	CHAIR	N/A	Officer Director	$0	$0	$0
KEN MARZOCCO	VICE CHAIR	N/A	Officer Director	$0	$0	$0
GUY ELLIS	SECRETARY/TR	N/A	Officer Director	$0	$0	$0
GRACE BORSARI	DIRECTOR	N/A	Director	$0	$0	$0
RW DUFFY COX	DIRECTOR	N/A	Director	$0	$0	$0
ROD PROCTOR	DIRECTOR	N/A	Director	$0	$0	$0
HEIDI RAY	DIRECTOR	N/A	Director	$0	$0	$0
DAVE WALDROP	DIRECTOR	N/A	Director	$0	$0	$0
DIANE KAMIONKA	EXECUTIVE DI	N/A	Officer	$0	$0	$0

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	No data	No data	No data	No data
2023	$463,839	$377,060	$406,558	$86,779
2022	$435,371	$420,083	$314,850	$15,288
2021	$250,665	$305,212	$288,013	$-54,547
2020	$353,421	$420,819	$382,962	$-67,398
2018	$425,052	$179,152	$438,068	$245,900