THE THETIS 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

1980

Legal Domicile

Principal Officer

Kent Lottis

Tax Period

2023-01-01 to 2023-12-31

THE THETIS FOUNDATION, founded in 1980, is a small nonprofit that reported $438K in total revenue in fiscal year 2023. The organization ran a surplus of $302K, a strong 69% operating margin.

Mission

To support the purposes of North America Indian Mission, Inc., a non-profit, religious and educational corporation of the state of Washington. The Thetis Foundation supplies grant funding for specific activities and projects.

Program Service Accomplishments

Program 1

Expenses: $136,706 Revenue: $438,427

Grants to assist NAIM, Inc. and operating expenses to steward net assets invested for grant purposes.

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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 $0

Program Service Revenue $0

Investment Income $438,427

Other Revenue $0

TOTAL REVENUE $438,427

Expense Breakdown

Grants Paid $110,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $136,706

Other Expenses $26,706

TOTAL EXPENSES $136,706

Year-over-Year Comparison

	2023	2022	Change
Revenue	$438,427	$-311,179	-2.4%
Expenses	$136,706	$137,074	0.0%
Net Income	$301,721	$-448,253	-1.7%

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

N/A

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 Crumbo	Vice-President	0.50	Director	$0	$0	$0
Kent Lottis	President	0.50	Director	$0	$0	$0
David Cowan	Treasurer	0.50	Director	$0	$0	$0
Timothy Streck	Director	0.25	Director	$0	$0	$0
David McFarland	Secretary	0.50	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	No data	No data	No data	No data
2023	$438,427	$136,706	$3,015,595	$301,721
2022	$-311,179	$137,074	$2,713,874	$-448,253
2021	$555,018	$82,149	$3,162,462	$472,869
2020	$107,098	$104,174	$2,689,576	$2,924
2019	$429,839	$104,625	$2,824,613	$325,214
2018	$85,707	$301,037	$2,361,750	$-215,330