INDEPENDENT COLLEGES OF WASHINGTON

EIN: 910614877 501(c)(3) Education

SEATTLE, WA

Total Revenue
$2,371,830
Total Expenses
$2,470,657
Total Assets
$3,827,869
Net Assets
$2,725,708
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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
1953
Legal Domicile
WA
Principal Officer
THERESA A STANDISH-KUON
Phone
2066234494
Tax Period
2023-07-01 to 2024-06-30

INDEPENDENT COLLEGES OF WASHINGTON, founded in 1953, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

INDEPENDENT COLLEGES OF WASHINGTON IS THE LEADING ADVOCATE FOR NOT-FOR-PROFIT, PRIVATE CAMPUSES IN WASHINGTON STATE.

Program Service Accomplishments

Program 1
Expenses: $2,083,302

INDEPENDENT COLLEGES OF WASHINGTON (ICW) ENABLES STUDENTS TO PURSUE THEIR COLLEGE ASPIRATIONS, AND WASHINGTON STATE TO ACHIEVE ITS POST-SECONDARY ATTAINMENT GOAL. IN ACHIEVING ITS VISION AND PURPOSE...

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INDEPENDENT COLLEGES OF WASHINGTON (ICW) ENABLES STUDENTS TO PURSUE THEIR COLLEGE ASPIRATIONS, AND WASHINGTON STATE TO ACHIEVE ITS POST-SECONDARY ATTAINMENT GOAL. IN ACHIEVING ITS VISION AND PURPOSE, ICW BELIEVES IT WILL CONTRIBUTE TO THE LONG-TERM HEALTH AND VITALITY OF AN ECONOMICALLY ROBUST AND SOCIALLY JUST WASHINGTON. THE WORK OF THE ASSOCIATION REINFORCES THE IMPORTANCE OF HIGHER EDUCATION IN WASHINGTON TO ENSURE THE PUBLIC COMMITMENT REMAINS STRONG.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,242,186
Program Service Revenue $0
Investment Income $129,644
Other Revenue $0
TOTAL REVENUE $2,371,830

Expense Breakdown

Grants Paid $1,011,600
Salaries & Benefits $862,965
Fundraising Expenses $50,098
Program Expenses $2,083,302
Other Expenses $596,092
TOTAL EXPENSES $2,470,657

Year-over-Year Comparison

2023 2022 Change
Revenue $2,371,830 $2,074,892 +0.1%
Expenses $2,470,657 $2,313,975 +0.1%
Net Income $-98,827 $-239,083 -0.6%
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
33
Independent Members
32
Employees
17
Volunteers
38

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
$365,564
Total Directors
35
$365,564
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TERRI STANDISH-KUON PRESIDENT & CEO 40.00
Officer Director
$322,524 $43,040 $365,564
ISIAAH CRAWFORD CHAIR 1.00
Officer Director
$0 $0 $0
CAROLYN KELLY VICE CHAIR 1.00
Officer Director
$0 $0 $0
THAYNE M MCCULLOH PAST CHAIR 1.00
Officer Director
$0 $0 $0
ANDREW PRATHER SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
STEFAN AGYEMANG DIRECTOR 1.00
Director
$0 $0 $0
AMY ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
CHRIS BUFUMO DIRECTOR 1.00
Director
$0 $0 $0
ALLAN BELTON DIRECTOR 1.00
Director
$0 $0 $0
SARAH BOLTON DIRECTOR 1.00
Director
$0 $0 $0
PAT CALLANS DIRECTOR 1.00
Director
$0 $0 $0
GORDON CLARK DIRECTOR 1.00
Director
$0 $0 $0
SCOTT FRIEDMAN DIRECTOR 1.00
Director
$0 $0 $0
KRISTOFER JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
GEORGE KAAI DIRECTOR 1.00
Director
$0 $0 $0
SCOTT MCQUILKIN DIRECTOR 1.00
Director
$0 $0 $0
DEANA POTERFIELD DIRECTOR 1.00
Director
$0 $0 $0
MEGAN OUELLETTE DIRECTOR 1.00
Director
$0 $0 $0
GEORGE PARKER DIRECTOR 1.00
Director
$0 $0 $0
EDUARDO M PEALVER DIRECTOR 1.00
Director
$0 $0 $0
PARKER PHEND DIRECTOR 1.00
Director
$0 $0 $0
SUSANA REYES DIRECTOR 1.00
Director
$0 $0 $0
NIKISHA REYES-GRANGE DIRECTOR 1.00
Director
$0 $0 $0
KIMERLY RORSCHACH DIRECTOR 1.00
Director
$0 $0 $0
BEN SMALL DIRECTOR 1.00
Director
$0 $0 $0
STEVE SMITH DIRECTOR 1.00
Director
$0 $0 $0
ANDREW C SUND DIRECTOR 1.00
Director
$0 $0 $0
JASON THACKSTON DIRECTOR 1.00
Director
$0 $0 $0
TOM THOEN DIRECTOR 1.00
Director
$0 $0 $0
DIANE MARIE TIMBERLAKE DIRECTOR 1.00
Director
$0 $0 $0
RANDY TINSETH DIRECTOR 1.00
Director
$0 $0 $0
JIM YEARBY DIRECTOR 1.00
Director
$0 $0 $0
SANDY ZIMMERMANN DIRECTOR 1.00
Director
$0 $0 $0
RICHARD E BANGERT II EMERITUS 1.00
Director
$0 $0 $0
KENNETH J GOODCHILD EMERITUS 1.00
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 No data No data No data No data
2024 $2,371,830 $2,470,657 $3,827,869 $-98,827
2023 $2,074,892 $2,313,975 $3,972,193 $-239,083
2022 $2,667,290 $2,016,773 $3,216,327 $650,517
2021 $1,760,226 $1,929,774 $2,855,247 $-169,548
2020 $2,451,604 $1,812,147 $2,804,619 $639,457
2019 $1,800,974 $1,920,700 $1,933,214 $-119,726
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