WASHINGTON STATE MICROENTERPRISE ASSOCIATION

EIN: 300434103 501(c)(3) Community Improvement

OLYMPIA, WA

Total Revenue
$3,838,004
Total Expenses
$2,833,538
Total Assets
$1,038,379
Net Assets
$1,022,661
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
WA
Principal Officer
JANICE FEJARANG
Phone
3604808048
Tax Period
2023-01-01 to 2023-12-31

WASHINGTON STATE MICROENTERPRISE ASSOCIATION, founded in 2005, is a community nonprofit in the Community Improvement sector that reported $3.8M in total revenue in fiscal year 2023. Revenue surged 367% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0M, a strong 26% operating margin.

Mission

OUR MISSION IS TO STRENGTHEN ECONOMIC DEVELOPMENT SYSTEMS THAT SUPPORT THE GROWTH OF STRONG AND EFFECTIVE MICROENTERPRISE DEVELOPMENT ORGANIZATIONS. WE DO THIS THROUGH: BUILDING A COALITION OF ORGANIZATIONS, AGENCIES AND INDIVIDUALS DEDICATED TO MICROENTERPRISE DEVELOPMENT; PROVIDING LEADERSHIP TO THE VOICE OF MICROENTERPRISE PRACTITIONERS; PROMOTING MICROENTERPRISE AS A VIABLE ECONOMIC DEVELOPMENT TOOL; SUPPORTING THE CAPASITY OF MICROENTERPRISE SUPPORT ORGANIZATIONS IN PROVIDING; SELF-EMPLOYMENT EDUCATION AND ASSISTANCE, ACCESS TO CAPITAL AND MICRO-LENDING, BUSINESS CREATION AND EXPANSION SUPPORT, JOB CREATION, ECONOMIC SEL-SUFFICIENCY AND FINANCIAL EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $2,686,943

WSMA PROVIDES CAPACITY BUILDING, NETWORKING AND GRANTS TO MICROENTERPRISE DEVELOPMENT ORGANIZATIONS (MDOS) THAT SUPPORT BUSINESSES WITH FIVE OR FEWER EMPLOYEES THROUGHOUT WA STATE.

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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 $3,828,851
Program Service Revenue $0
Investment Income $9,153
Other Revenue $0
TOTAL REVENUE $3,838,004

Expense Breakdown

Grants Paid $2,445,732
Salaries & Benefits $241,122
Fundraising Expenses $0
Program Expenses $2,686,943
Other Expenses $146,684
TOTAL EXPENSES $2,833,538

Year-over-Year Comparison

2023 2022 Change
Revenue $3,838,004 $821,289 +3.7%
Expenses $2,833,538 $809,622 +2.5%
Net Income $1,004,466 $11,667 +85.1%
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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Governance

Voting Members
4
Independent Members
4
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
4
$101,920
Total Directors
5
$101,920
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LISA SMITH EXECUTIVE DI 40.00
Officer Director
$101,920 $0 $101,920
JANICE FEJARANG PRESIDENT N/A
Officer Director
$0 $0 $0
DAVID GILBREATH TREASURER N/A
Officer Director
$0 $0 $0
KAHANU KAHOONEI BOARD MEMBER N/A
Director
$0 $0 $0
JIM KEOGH VICE PRESIDE N/A
Officer Director
$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 $3,838,004 $2,833,538 $1,038,379 $1,004,466
2022 $821,289 $809,622 $30,450 $11,667
2021 $2,241,814 $2,190,550 $24,484 $51,264
2020 $251,981 $271,470 $13,645 $-19,489
2019 $230,674 $251,770 $21,786 $-21,096
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