SEATTLE INITIATIVE THROUGH TECHNOLOGY AND INNOVATION

EIN: 831538165

Seattle, WA

Total Revenue
$25,015
Total Expenses
$115,364
Total Assets
N/A
Net Assets
N/A
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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
2018
Legal Domicile
WA
Principal Officer
Abigail Doerr
Phone
2068019227
Tax Period
2022-01-01 to 2022-05-31

SEATTLE INITIATIVE THROUGH TECHNOLOGY AND INNOVATION, founded in 2018, is a micro nonprofit that reported $25K in total revenue in fiscal year 2022. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $115K exceeded revenue, resulting in a 361% operating deficit.

Mission

We are building the Seattle of tomorrow as Seattleites committed to fostering a vibrant, diverse and thriving community and innovation economy. sea.citi is a network of tech and innovation companies strengthening Seattle by promoting civic engagement and building relationships between community, government and innovation workers.

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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 (2022)

Revenue Breakdown

Contributions & Grants $25,000
Program Service Revenue $0
Investment Income $15
Other Revenue $0
TOTAL REVENUE $25,015

Expense Breakdown

Grants Paid $0
Salaries & Benefits $89,228
Fundraising Expenses $0
Program Expenses $0
Other Expenses $26,136
TOTAL EXPENSES $115,364

Year-over-Year Comparison

2022 2021 Change
Revenue $25,015 $278,087 -0.9%
Expenses $115,364 $316,129 -0.6%
Net Income $-90,349 $-38,042 +1.4%
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

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Governance

Voting Members
8
Independent Members
8
Employees
1
Volunteers
8

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
6
$85,460
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Nicholas Merriam CEO 40
Officer
$46,085 $0 $46,085
Abigail Doerr Interim CEO 40
Officer
$39,375 $0 $39,375
Eileen Sullivan President 2
Officer Director
$0 $0 $0
Stephen Uy Vice President 1
Officer Director
$0 $0 $0
Steve Schwartz Secretary 1
Officer Director
$0 $0 $0
Katherine Cheng Treasurer 1
Officer Director
$0 $0 $0
Anna Boone Board Member 0.5
Director
$0 $0 $0
Heather Redman Board Member 0.5
Director
$0 $0 $0
Susie Vowinkel Board Member 0.5
Director
$0 $0 $0
Maria Karaivanova Board Member 0.5
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
2022 $25,015 $115,364 No data $-90,349
2021 $278,087 $316,129 $184,694 $-38,042
2020 $390,977 $266,997 $220,885 $123,980
2019 $298,440 $259,494 $97,047 $38,946
2018 $220,512 $170,312 $66,875 $50,200
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