THE MUSTARD SEED PROJECT OF KEY PENINSULA

EIN: 611537566 501(c)(3) Human Services

VAUGHN, WA

Total Revenue
$3,031,609
Total Expenses
$3,868,971
Total Assets
$14,158,867
Net Assets
$5,263,472
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
WA
Principal Officer
ERIC BLEGEN
Phone
2538849814
Tax Period
2024-07-01 to 2025-06-30

THE MUSTARD SEED PROJECT OF KEY PENINSULA, founded in 2006, is a community nonprofit in the Human Services sector that reported $3.0M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $3.9M exceeded revenue, resulting in a 28% operating deficit.

Mission

TO ENSURE CHOICES FOR HEALTHY AGING ON THE KEY PENINSULA BY CONNECTING ELDERS WITH INNOVATIVE PROGRAMS AND RESOURCES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $833,900
Program Service Revenue $2,083,735
Investment Income $65,488
Other Revenue $48,486
TOTAL REVENUE $3,031,609

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,331,753
Fundraising Expenses $292,903
Program Expenses $3,274,590
Other Expenses $1,537,218
TOTAL EXPENSES $3,868,971

Year-over-Year Comparison

2024 2023 Change
Revenue $3,031,609 $2,459,607 +0.2%
Expenses $3,868,971 $3,892,589 0.0%
Net Income $-837,362 $-1,432,982 -0.4%
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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Governance

Voting Members
11
Independent Members
11
Employees
42
Volunteers
132

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
$114,631
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC BLEGEN CEO 40.00
Officer
$105,249 $9,382 $114,631
ROBERT MCCROSSIN PRESIDENT 4.00
Officer Director
$0 $0 $0
ANNE NESBIT VICE PRESIDE 3.00
Officer Director
$0 $0 $0
ANGELA MATTISON LINDBOM SECRETARY 3.00
Officer Director
$0 $0 $0
DAVID BROWER TREASURER 3.00
Officer Director
$0 $0 $0
NORM MCLOUGHLIN MEMBER 3.00
Director
$0 $0 $0
LISA DUNHAM MEMBER 3.00
Director
$0 $0 $0
ANN SHOEMAKER MEMBER 3.00
Director
$0 $0 $0
MARIE SMURTHWAITE MEMBER 2.00
Director
$0 $0 $0
ALAN GOLSTON MEMBER 3.00
Director
$0 $0 $0
MARK COCKERILL MEMBER 2.00
Director
$0 $0 $0
JOAN JENSEN MEMBER 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
2025 $3,031,609 $3,868,971 $14,158,867 $-837,362
2024 No data No data No data No data
2023 $650,366 $1,571,703 $15,918,126 $-921,337
2022 $6,743,375 $541,443 $12,108,719 $6,201,932
2021 $1,059,907 $572,117 $2,593,369 $487,790
2020 $701,228 $446,225 $2,345,922 $255,003
2019 $710,053 $383,129 $2,176,668 $326,924
2018 $775,608 $439,215 $1,877,864 $336,393
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