ASSOCIATION OF WASHINGTON BUSINESS

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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

1904

Legal Domicile

Principal Officer

KRIS JOHNSON

Phone

3609431600

Tax Period

2023-10-01 to 2024-09-30

ASSOCIATION OF WASHINGTON BUSINESS, founded in 1904, is a mid-sized nonprofit that reported $12.7M in total revenue in fiscal year 2023. Expenses of $11.2M left a modest 11% surplus.

Mission

AWB IS THE CATALYTIC LEADER AND UNIFYING VOICE FOR ECONOMIC PROSPERITY, ENABLING OUR MEMBERS, THEIR EMPLOYEES AND ALL CITIZENS TO PROSPER THROUGHOUT WASHINGTON STATE.

Program Service Accomplishments

Program 1

WE ACCOMPLISH OUR MISSION STATEMENT BY PROVIDING OUR MEMBERS WITH CRITICAL SERVICES IN ADVOCACY SUCH AS HOLDING THE LINE ON GOVERNMENT REGULATION; OFFERING THE LARGEST ASSOCIATION HEALTH PLAN IN THE STATE; OFFERING 401(K) PLANS; AND PROVIDING OUR COMPWISE RETROSPECTIVE RATING PROGRAM, WHICH ALLOWS SAFE EMPLOYERS TO RECOUP UP TO 40% OF THEIR ANNUAL WORKERS' COMPENSATION PREMIUMS PAID TO THE STATE. ALL OF THESE EFFORTS, COMBINED WITH OUR PARAMOUNT DUTY OF ADVOCATING ON BEHALF OF THE BUSINESS COMMUNITY AS DIRECTED BY THE AWB BOARD, FURTHER THE GOAL OF MAKING WASHINGTON STATE A BETTER PLACE FOR BUSINESSES TO LOCATE AND GROW.

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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 (2023)

Revenue Breakdown

Contributions & Grants $72,756

Program Service Revenue $8,543,951

Investment Income $4,034,935

Other Revenue $16,330

TOTAL REVENUE $12,667,972

Expense Breakdown

Grants Paid $119,387

Salaries & Benefits $5,623,774

Fundraising Expenses $0

Other Expenses $3,353,494

TOTAL EXPENSES $11,238,110

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,667,972	$12,356,122	+0.0%
Expenses	$11,238,110	$11,767,444	0.0%
Net Income	$1,429,862	$588,678	+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

Governance

Voting Members

119

Independent Members

118

Employees

Volunteers

137

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

$1,052,923

Total Directors

127

Key Employees

$1,213,218

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAURA LAWTON	PAST CHAIR	1.00	Officer Director	$0	$0	$0
DAVE RANKIN	CHAIR	1.00	Officer Director	$0	$0	$0
JOE SPRAGUE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ROY HEYNDERICKX	SECRETARY-TREASURER	1.00	Officer Director	$0	$0	$0
BILL AKERS	MEMBER	1.00	Director	$0	$0	$0
BARRY BAKER	MEMBER	1.00	Director	$0	$0	$0
DOUG BAYNE	MEMBER	1.00	Director	$0	$0	$0
STEVE BELL	MEMBER	1.00	Director	$0	$0	$0
ALISHA BENSON	MEMBER	1.00	Director	$0	$0	$0
BILL BRADY	MEMBER	1.00	Director	$0	$0	$0
DOLORES BROESKE	MEMBER	1.00	Director	$0	$0	$0
ALLISON BUDVARSON	MEMBER	1.00	Director	$0	$0	$0
DANIELE CAGNATEL	MEMBER	1.00	Director	$0	$0	$0
MAX CALDAS	MEMBER	1.00	Director	$0	$0	$0
PAT CALLANS	MEMBER	1.00	Director	$0	$0	$0
MAREN CALVERT	MEMBER	1.00	Director	$0	$0	$0
JOHN CARPENTER	MEMBER	1.00	Director	$0	$0	$0
GARY CHRISTENSEN	MEMBER	1.00	Director	$0	$0	$0
CARLA CICERO	MEMBER	1.00	Director	$0	$0	$0
APRIL COITEUX	MEMBER	1.00	Director	$0	$0	$0
AMELIA COOK	MEMBER	1.00	Director	$0	$0	$0
CHRISTINE COTE	MEMBER (THRU 06/2024)	1.00	Director	$0	$0	$0
DAN COYNE	MEMBER	1.00	Director	$0	$0	$0
TYLER CROW	MEMBER	1.00	Director	$0	$0	$0
AARON DEGODNY	MEMBER	1.00	Director	$0	$0	$0
MICHELLE DIPPEL	MEMBER	1.00	Director	$0	$0	$0
TONYA DRAKE	MEMBER	1.00	Director	$0	$0	$0
JOSH DUNN	MEMBER	1.00	Director	$0	$0	$0
TODD DUNNINGTON	MEMBER	1.00	Director	$0	$0	$0
TAL EDMAN	MEMBER	1.00	Director	$0	$0	$0
MATTHEW ELLSWORTH	MEMBER	1.00	Director	$0	$0	$0
FRAN ERSKINE	MEMBER	1.00	Director	$0	$0	$0
LINDSAY FISHER	MEMBER	1.00	Director	$0	$0	$0
MIKE FLOOD	MEMBER	1.00	Director	$0	$0	$0
FRAN FORGETTE	MEMBER	1.00	Director	$0	$0	$0
BRIAN FORTH	MEMBER	1.00	Director	$0	$0	$0
SHAE FRICHETTE	MEMBER	1.00	Director	$0	$0	$0
GARRY FUJITA	MEMBER	1.00	Director	$0	$0	$0
JOSE GARCIA	MEMBER	1.00	Director	$0	$0	$0
BRIAN GENTRY	MEMBER	1.00	Director	$0	$0	$0
TONY GEORGE	MEMBER	1.00	Director	$0	$0	$0
DON GIBSON	MEMBER	1.00	Director	$0	$0	$0
CARL GIPSON	MEMBER	1.00	Director	$0	$0	$0
KRISTOFER GRAY	MEMBER	1.00	Director	$0	$0	$0
CHARLIE GUILDNER	MEMBER	1.00	Director	$0	$0	$0
CHIP HALBERT	MEMBER	1.00	Director	$0	$0	$0
MICHELLE HEGE	MEMBER	1.00	Director	$0	$0	$0
BARRY HEID	MEMBER	1.00	Director	$0	$0	$0
LAURIE HOLLICK	MEMBER	1.00	Director	$0	$0	$0
BEN HOSKINS	MEMBER	1.00	Director	$0	$0	$0
JEN HOUSER	MEMBER	1.00	Director	$0	$0	$0
MEGAN HUGHES	MEMBER	1.00	Director	$0	$0	$0
KEDRICH JACKSON	MEMBER	1.00	Director	$0	$0	$0
BRYAN KELLEY	MEMBER	1.00	Director	$0	$0	$0
KRISTEN KELTZ	MEMBER (THRU 01/2024)	1.00	Director	$0	$0	$0
COLLEEN KERR	MEMBER	1.00	Director	$0	$0	$0
JUNUS KHAN	MEMBER	1.00	Director	$0	$0	$0
JIM KLEIST	MEMBER	1.00	Director	$0	$0	$0
KATE LAMPSON	MEMBER	1.00	Director	$0	$0	$0
BRUCE LARSON	MEMBER	1.00	Director	$0	$0	$0
KRISTA LINDEN	MEMBER	1.00	Director	$0	$0	$0
PAULA LINNEN	MEMBER	1.00	Director	$0	$0	$0
PRESTON LOVE	MEMBER	1.00	Director	$0	$0	$0
LUCAS MACK	MEMBER (THRU 02/2024)	1.00	Director	$0	$0	$0
SCOTT MADISON	MEMBER	1.00	Director	$0	$0	$0
MARK MANTEI	MEMBER	1.00	Director	$0	$0	$0
JULIANNA MARLER	MEMBER	1.00	Director	$0	$0	$0
GORDON MCCLEARY	MEMBER	1.00	Director	$0	$0	$0
TRACI MCGLATHERY	MEMBER	1.00	Director	$0	$0	$0
ALEX MCGREGOR	MEMBER	1.00	Director	$0	$0	$0
MIKE MCKINNON	MEMBER	1.00	Director	$0	$0	$0
BILL MCSHERRY	MEMBER	1.00	Director	$0	$0	$0
CHRIS MERRYWELL	MEMBER	1.00	Director	$0	$0	$0
JEFF MESSMER	MEMBER	1.00	Director	$0	$0	$0
ERIC MILES	MEMBER	1.00	Director	$0	$0	$0
JAIME NEAL	MEMBER (THRU 03/2024)	1.00	Director	$0	$0	$0
ERIKA NIST FRAYSER	MEMBER	1.00	Director	$0	$0	$0
JOSH O'CONNOR	MEMBER	1.00	Director	$0	$0	$0
EVAN ONETO	MEMBER	1.00	Director	$0	$0	$0
DUSTIN O'QUINN	MEMBER	1.00	Director	$0	$0	$0
GUY PALUMBO	MEMBER	1.00	Director	$0	$0	$0
BETH PERCYNSKI	MEMBER	1.00	Director	$0	$0	$0
CARL PERKINS	MEMBER (THRU 08/2024)	1.00	Director	$0	$0	$0
KEVIN PERSON	MEMBER (THRU 05/2024)	1.00	Director	$0	$0	$0
LISA PIERSON	MEMBER (THRU 07/2024)	1.00	Director	$0	$0	$0
TOM PUCCI	MEMBER	1.00	Director	$0	$0	$0
PAUL READ	MEMBER	1.00	Director	$0	$0	$0
ANDREA REAY	MEMBER	1.00	Director	$0	$0	$0
JIM REED	MEMBER	1.00	Director	$0	$0	$0
BRAD REW	MEMBER	1.00	Director	$0	$0	$0
FRED RIVERA	MEMBER	1.00	Director	$0	$0	$0
BILL ROBERTSON	MEMBER	1.00	Director	$0	$0	$0
ROB ROCHE	MEMBER (THRU 09/2024)	1.00	Director	$0	$0	$0
JENNIFER ROSS	MEMBER	1.00	Director	$0	$0	$0
WENDY SANCEWICH	MEMBER	1.00	Director	$0	$0	$0
TIM SCHAUER	MEMBER	1.00	Director	$0	$0	$0
STEPHANIE SCHILTER	MEMBER	1.00	Director	$0	$0	$0
BOB SCHUETZ	MEMBER	1.00	Director	$0	$0	$0
MARK SCHUSTER	MEMBER	1.00	Director	$0	$0	$0
RICHARD SCHWARZ	MEMBER	1.00	Director	$0	$0	$0
MIKE SCHWENK	MEMBER	1.00	Director	$0	$0	$0
MICHAEL SENSKE	MEMBER	1.00	Director	$0	$0	$0
BEN SHAH	MEMBER	1.00	Director	$0	$0	$0
STEVE SIMMONS	MEMBER	1.00	Director	$0	$0	$0
DAMON SMITH	MEMBER	1.00	Director	$0	$0	$0
RACHEL SMITH	MEMBER	1.00	Director	$0	$0	$0
HEATHER SNAVELY	MEMBER	1.00	Director	$0	$0	$0
JEFF SNOW	MEMBER	1.00	Director	$0	$0	$0
LARRY SOEHREN	MEMBER	1.00	Director	$0	$0	$0
NICOLE SOHN	MEMBER	1.00	Director	$0	$0	$0
MATT STEUERWALT	MEMBER	1.00	Director	$0	$0	$0
JUSTIN STIEFEL	MEMBER	1.00	Director	$0	$0	$0
CHAD SUTTER	MEMBER	1.00	Director	$0	$0	$0
BILL SYMMES	MEMBER	1.00	Director	$0	$0	$0
KEVIN TAPANI	MEMBER	1.00	Director	$0	$0	$0
JASON THACKSTON	MEMBER	1.00	Director	$0	$0	$0
DAVID TOBIAS	MEMBER	1.00	Director	$0	$0	$0
ROSS TRELEVEN	MEMBER	1.00	Director	$0	$0	$0
ANNA TUCCI	MEMBER	1.00	Director	$0	$0	$0
KELSEY VAN MIERT	MEMBER	1.00	Director	$0	$0	$0
STACIE VAUGHAN	MEMBER	1.00	Director	$0	$0	$0
MIKE WALTON	MEMBER	1.00	Director	$0	$0	$0
JOAN WANG	MEMBER	1.00	Director	$0	$0	$0
DAVE WASSON	MEMBER	1.00	Director	$0	$0	$0
NIKKI WEGNER	MEMBER	1.00	Director	$0	$0	$0
ROB WHEELER	MEMBER	1.00	Director	$0	$0	$0
DAVID WRIGHT	MEMBER	1.00	Director	$0	$0	$0
KRISTOFER JOHNSON	PRESIDENT & CEO	40.00	Officer	$670,039	$158,564	$828,603
GREG WELCH	DIRECTOR OF FINANCE	40.00	Officer	$194,507	$29,813	$224,320
JOHN DAVID MASTIN	ASSISTANT VICE PRESIDENT GOVERNMENT AFFAIRS	40.00	Key Emp	$262,147	$39,030	$301,177
SEAN HEINER	DIRECTOR OF MEMBERSHIP	40.00	Key Emp	$210,025	$52,222	$262,247
AMY ANDERSON	GOVERNMENT AFFAIRS DIRECTOR	40.00	Key Emp	$170,976	$26,203	$197,179
JASON HAGEY	VICE PRESIDENT, COMMUNICATIONS	40.00	Key Emp	$201,246	$50,012	$251,258
ROBERT BATTLES	GENERAL COUNSEL/GOVERNMENT AFFAIRS DIRECTOR	40.00	Key Emp	$161,583	$39,774	$201,357
MICHAEL ENNIS	GOVERNMENT AFFAIRS DIRECTOR	40.00	Highest	$234,121	$45,141	$279,262
PETER GODLEWSKI	GOVERNMENT AFFAIRS DIRECTOR	40.00	Highest	$140,149	$29,817	$169,966
BONNIE MILLIKAN	EXECUTIVE ASSISTANT/OFFICE MANAGER	40.00	Highest	$149,018	$25,252	$174,270
CARLY MICHAEL	DIRECTOR OF MEMBER EXPERIENCE & EVENTS	40.00	Highest	$139,376	$36,249	$175,625
DAVID DENNY	OPERATIONS SYSTEM ADMINISTRATOR	40.00	Highest	$137,603	$37,062	$174,665

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	$12,667,972	$11,238,110	$56,301,053	$1,429,862
2023	$12,356,122	$11,767,444	$46,496,010	$588,678
2022	$11,966,956	$10,834,352	$40,892,318	$1,132,604
2021	$11,595,511	$10,286,802	$45,170,529	$1,308,709
2020	$10,546,853	$10,054,501	$40,031,604	$492,352