NORTHWEST INNOVATION RESOURCE CTR

EIN: 273156063 501(c)(3) Community Improvement

BELLINGHAM, WA

Total Revenue
$463,839
Total Expenses
$377,060
Total Assets
$406,558
Net Assets
$140,271
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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
WA
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.

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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 $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

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Governance

Voting Members
9
Independent Members
9
Employees
4
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
5
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
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
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