NORTH SOUND 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

2017

Legal Domicile

Principal Officer

DAVID V JOHNSON

Phone

2483642423

Tax Period

2024-01-01 to 2024-12-31

NORTH SOUND FOUNDATION, founded in 2017, is a small nonprofit in the International Affairs sector that reported $143K in total revenue in fiscal year 2024. Revenue fell 91% from the prior year — a significant decline worth monitoring. Net assets of $2.7M represent 226 months of operating reserves.

Mission

THE CORPORATION IS FORMED FOR THE CHARITABLE PURPOSE OF PROVIDING YOUTH DEVELOPMENT ACTIVITIES AND INFRASTRUCTURE AND ENVIRONMENTAL PROTECTION AND PRESERVATION.

Program Service Accomplishments

Program 1

Expenses: $127,216

YOUTH DEVELOPMENT ACTIVITIES AND INFRASTRUCTURE AND ENVIRONMENTAL PROTECTION AND PRESERVATION

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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 $39,500

Program Service Revenue $0

Investment Income $103,703

Other Revenue $0

TOTAL REVENUE $143,203

Expense Breakdown

Grants Paid $127,216

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $127,216

Other Expenses $24,503

TOTAL EXPENSES $151,719

Year-over-Year Comparison

	2024	2023	Change
Revenue	$143,203	$1,642,183	-0.9%
Expenses	$151,719	$1,594,216	-0.9%
Net Income	$-8,516	$47,967	-1.2%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID V JOHNSON	PRESIDENT	0.50	Officer Director	$0	$0	$0
PAMELA JOHNSON	SECRETARY	0.50	Officer Director	$0	$0	$0
CLYDE LETTSOME	TREASURER	0.50	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	$143,203	$151,719	$2,947,350	$-8,516
2023	$1,642,183	$1,594,216	$3,463,017	$47,967
2022	$2,779,000	$227,475	$2,657,912	$2,551,525
2021	$164,500	$221,202	$107,188	$-56,702
2020	$630,000	$470,792	$163,058	$159,208
2019	$15,000	$13,992	$3,870	$1,008
2018	$511,363	$1,106,756	$3,221	$-595,393