Washington State Parks Foundation

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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

2000

Legal Domicile

Principal Officer

Nathan Engman

Phone

2064867275

Tax Period

2024-01-01 to 2024-12-31

Washington State Parks Foundation, founded in 2000, is a community nonprofit in the Recreation & Sports sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 57% from the prior year, signaling strong growth momentum. The organization ran a surplus of $199K, a strong 18% operating margin.

Mission

Our purpose is to ensure a vibrant and inclusive Washington State Parks system for generations to enjoy. We engage, expand, and sustain a broad base of supporters who give to, advocate for and treasure our state parks.

Program Service Accomplishments

Program 1

Expenses: $269,133

IMPROVE: PROVIDING GRANTS AND BUILDING CAPACITY TO IMPLEMENT CRITICAL STATE PARKS PROJECTS. In 2024, this program completed 19 park improvement projects. Also, this grant program awarded funding for projects at 20 more parks across Washington. Some notable additional improvements included completing a new playground at Deception Pass state park, funding park interns to provide interpretive programs, installing energy efficient lighting for park buildings and completing three years of funding for a wildlife research study to better understand and protect vulnerable wildlife.

Program 2

Expenses: $210,018

CONNECT: BUILDING AN ENGAGED AND INFORMED STATE PARKS COMMUNITY. Critical to our mission is building a parks community and connecting people, particularly underserved communities, to shared...

CONNECT: BUILDING AN ENGAGED AND INFORMED STATE PARKS COMMUNITY. Critical to our mission is building a parks community and connecting people, particularly underserved communities, to shared experiences in nature, history and culture. We supported programs to help prepare first-time visitors, supported underserved communities to help them better access state parks and increased coordination with the state parks agency to align and deepen communications with a wider range of groups to make parks more welcoming to all. We reached out to over 200,000 park users and more than 12,400 donors who acted on behalf of our mission to give to, advocate for and treasure our state parks.

Program 3

Expenses: $188,110

Other Program Services Other services include organizational capacity building for Friends of State Parks and advocacy work with partners and the public.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,053,673

Program Service Revenue $0

Investment Income $22,259

Other Revenue $0

TOTAL REVENUE $1,075,932

Expense Breakdown

Grants Paid $256,976

Salaries & Benefits $331,532

Fundraising Expenses $74,172

Program Expenses $764,653

Other Expenses $288,918

TOTAL EXPENSES $877,426

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,075,932	$686,093	+0.6%
Expenses	$877,426	$696,859	+0.3%
Net Income	$198,506	$-10,766	-19.4%

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

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

$144,890

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Floberg	Executive Dir.	40.00	Officer	$112,638	$32,252	$144,890
Lisa Bellefond	Dir. Development	40.00		$109,773	$33,180	$142,953
Andrew Elofson	Controller	4.00	Officer Director	$0	$0	$0
Stuti Sureka	Vice President	4.00	Officer Director	$0	$0	$0
Nathan Engman	Treasurer	4.00	Officer Director	$0	$0	$0
Michael Wanderer	Secretary	4.00	Officer Director	$0	$0	$0
Mark Middaugh	Director	2.00	Director	$0	$0	$0
John Scott	Director	2.00	Director	$0	$0	$0
Jim Van Loben Sels	Director	2.00	Director	$0	$0	$0
Robert Brennecke	Director	2.00	Director	$0	$0	$0
Aenea Sandvig	Director	2.00	Director	$0	$0	$0
Rakesh Kumar	Director	2.00	Director	$0	$0	$0
Brandon Middaugh	Director	2.00	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	$1,075,932	$877,426	$1,398,097	$198,506
2023	$686,093	$696,859	$1,153,271	$-10,766
2022	$991,354	$573,876	$1,151,615	$417,478
2021	$654,463	$494,950	$721,950	$159,513
2020	$506,322	$356,283	$566,363	$150,039
2019	$344,986	$335,385	$414,278	$9,601
2018	$380,519	$307,377	$407,735	$73,142