WASHINGTON STATE TRANSIT

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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

1981

Legal Domicile

Principal Officer

TODD MORROW

Tax Period

2023-01-01 to 2023-12-31

WASHINGTON STATE TRANSIT, founded in 1981, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $1.5M left a modest 5% surplus.

Mission

WSTA ADVANCES THE VALUE OF PUBLIC TRANSIT THROUGH PUBLIC EDUCATION AND OUTREACH, ADVOCACY OF POSITIVE AND EFFECTIVE PUBLIC POLICY AND FOSTERING THE COLLABORATION AND PROFESSIONAL DEVELOPMENT OF PUBLIC TRANSIT EMPLOYEES.

Program Service Accomplishments

Program 1

Expenses: $1,107,995

MEMBER SERVICES, MEETINGS AND EVENTS: THE WASHINGTON STATE TRANSIT ASSOCIATION (WSTA) MEMBERS CONSIST OF 30 PUBLIC TRANSIT AGENCIES AND THE WASHINGTON STATE DEPARTMENT OF TRANSPORTATION. WSTA...

MEMBER SERVICES, MEETINGS AND EVENTS: THE WASHINGTON STATE TRANSIT ASSOCIATION (WSTA) MEMBERS CONSIST OF 30 PUBLIC TRANSIT AGENCIES AND THE WASHINGTON STATE DEPARTMENT OF TRANSPORTATION. WSTA ORGANIZES OVER 50 MEETINGS PER YEAR FOR THE WSTA BOARD AND THE 12 STANDING COMMITTEES MADE UP OF TRANSIT PROFESSIONALS FROM OUR MEMBER AGENCIES. WSTA ALSO ORGANIZES SPECIAL EVENTS, INCLUDING AN ANNUAL SPRING MAINTENANCE VENDOR FORUM, ANNUAL PUBLIC TRANSPORTATION ROADEO, AND IN ALTERNATING YEARS A STATEWIDE PUBLIC TRANSPORTATION SYMPOSIUM AND MARKETING & COMMUNICATION EXCHANGE. MANY OF WSTA'S ASSOCIATE MEMBERS PARTICIPATE IN WSTA EVENTS. WSTA PRODUCES A WEEKLY NEWSLETTER FOR MEMBERS AND ASSOCIATE MEMBERS AND PROVIDES OTHER MEMBER SERVICES AS APPROPRIATE CONSISTENT WITH THE WSTA MISSION AND VISION. THE ASSOCIATION INITIATED A CARBON CREDIT AGGREGATING PROGRAM FOR IT'S MEMBERS IN THE CURRENT YEAR.

Program 2

Expenses: $252,307

LEGISLATIVE AND PUBLIC OUTREACH: THE WASHINGTON STATE TRANSIT ASSOCIATION (WSTA) MEMBERS WORK TOGETHER TO DEVELOP A STATE LEGISLATIVE AGENDA AND THEN WORK TOGETHER (MEMBERS, WSTA EXECUTIVE DIRECTOR, AND WSTA AND SMTA (A CAUCUS OF WSTA) CONTRACT LOBBYISTS) TO PURSUE THE LEGISLATIVE AGENDA. WSTA PROVIDES EDUCATIONAL INFORMATION AND BRIEFINGS, AS WELL AS A CENTRAL POINT OF CONTACT TO LEGISLATORS, LEGISLATIVE STAFF, AND THE GOVERNOR'S OFFICE AND STAFF, AND STATE AGENCIES. AS NEEDED, WSTA PREPARES COMMENTS ON PROPOSED STATE LAWS, RULES, AND BUDGET PROPOSALS, AND FUNDING PACKAGES. WSTA PROVIDES WEEKLY UPDATTES AND CALLS TO KEEP MEMBERS INFORMED OF LEGISLATIVE ACTIVITIES DURING THE STATE LEGISLATIVE SESSION. WSTA PARTICIPATES IN LEGISLATIVE STUDIES RELATED TO PUBLIC TRANSPORTATION. OCCASIONALLY, WSTA PROVIDES LEGISLATIVE UPDATES TO MEMBERS REGARDING ISSUES AT THE FEDERAL LEVEL AND MAY PREPARE COMMENT LETTERS ON BEHALF OF MEMBERS. WSTA ALSO COLLABORATES WITH OTHER PARTNERS TO PROVIDE OUTREACH AND EDUCATION ON THE BENEFITS OF PUBLIC TRANSPORTATIUON. THIS WORK INCLUDES DEVELOPMENT OF INFORMATIONAL DOCUMENTS, RESPONSES TO QUESTIONS, DRAFTING OF ARTICLES AND/OR NEWS RELEASES FOR THE PRESS, AND COORDINATING WITH OTHER GROUPS INCLUDING GRASS ROOTS ORGANIZATIONS AND VARIOUS BUSINESS GROUPS. IN RECENT YEARS, THIS WORK HAS BEEN CLOSELY TIED TO DISCUSSIONS ABOUT A POSSIBLE STATEWIDE TRANSPORTATION FUNDING PACKAGE.

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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 $669,601

Program Service Revenue $904,775

Investment Income $16,636

Other Revenue $0

TOTAL REVENUE $1,591,012

Expense Breakdown

Grants Paid $0

Salaries & Benefits $487,463

Fundraising Expenses $0

Program Expenses $1,360,302

Other Expenses $1,019,755

TOTAL EXPENSES $1,507,218

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,591,012	$1,183,303	+0.3%
Expenses	$1,507,218	$1,158,479	+0.3%
Net Income	$83,794	$24,824	+2.4%

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

Independent Members

Employees

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

$156,964

Total Directors