NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION

EIN: 911163554 501(c)(3) Human Services

SEATTLE, WA

Total Revenue
$10,442,967
Total Expenses
$6,817,540
Total Assets
$25,460,641
Net Assets
$22,060,461
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
WA
Principal Officer
CINDY R SEREMEK
Phone
2063748844
Tax Period
2024-07-01 to 2025-06-30

NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, founded in 1986, is a mid-sized nonprofit in the Human Services sector that reported $10.4M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.6M, a strong 35% operating margin.

Mission

NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION PROMOTES, SUPPORTS, MAINTAINS, DEVELOPS, AND EXTENDS EDUCATIONAL OFFERINGS AND THE PURSUIT THEREOF AT OR IN CONNECTION WITH NORTH SEATTLE COLLEGE.AMERICAN FINANCIAL SOLUTIONS (AFS) IS A DIVISION OF NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION, THE MISSION OF WHICH IS TO EMPOWER PEOPLE TO IMPROVE THE QUALITY OF THEIR LIVES THROUGH FINANCIAL EDUCATION AND COUNSELING. WE REDIRECT A PORTION OF OUR PROCEEDS TO A FUND THAT PROVIDES STUDENT SCHOLARSHIPS, FACULTY GRANTS, AND OTHER ACADEMIC PROGRAMS FOR NORTH SEATTLE COLLEGE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,841,892
Program Service Revenue $5,094,341
Investment Income $506,484
Other Revenue $250
TOTAL REVENUE $10,442,967

Expense Breakdown

Grants Paid $900,000
Salaries & Benefits $3,792,996
Fundraising Expenses $0
Program Expenses $6,089,254
Other Expenses $2,124,544
TOTAL EXPENSES $6,817,540

Year-over-Year Comparison

2024 2023 Change
Revenue $10,442,967 $9,114,020 +0.1%
Expenses $6,817,540 $5,899,830 +0.2%
Net Income $3,625,427 $3,214,190 +0.1%
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
10
Independent Members
10
Employees
60
Volunteers
2

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
$465,538
Total Directors
10
$25,000
Key Employees
2
$374,119
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JERRY GRONFEIN DIRECTOR/CHAIRMAN 2.00
Officer Director
$3,500 $0 $3,500
JOSEPH JAHN DIRECTOR/VICE CHAIRMAN 2.00
Officer Director
$3,500 $0 $3,500
CAROLYN BARTON DIRECTOR/SECRETARY 2.00
Officer Director
$0 $0 $0
CHRISTOPHER ALEJANO DIRECTOR 1.00
Director
$2,500 $0 $2,500
ANDREW BEMBRY DIRECTOR 1.00
Director
$3,000 $0 $3,000
WILLIAMS JARVIS DIRECTOR 1.00
Director
$3,000 $0 $3,000
MARY ELLEN O'KEEFFE DIRECTOR 1.00
Director
$3,500 $0 $3,500
MELISSA PUTMAN DIRECTOR 1.00
Director
$2,500 $0 $2,500
V LEE REES DIRECTOR 1.00
Director
$3,500 $0 $3,500
RACHEL SOLEMSAAS DIRECTOR/EX-OFFICIO 1.00
Director
$0 $0 $0
CINDY SEREMEK PRESIDENT 45.00
Officer
$266,756 $14,376 $281,132
HELICIA THOMPSON TREASURER 45.00
Officer
$167,222 $10,184 $177,406
JESSICA WILLIAMS-OESTMANN DIRECTOR OF OPERATIONS 40.00
Key Emp
$189,395 $7,205 $196,600
REBECCA HOUSE DIRECTOR OF STRATEGIC INITIATIVES 40.00
Key Emp
$171,175 $6,344 $177,519
SHANNA LUXTON CLIENT SERVICES MANAGER 40.00
Highest
$105,150 $3,627 $108,777
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 $10,442,967 $6,817,540 $25,460,641 $3,625,427
2024 $9,114,020 $5,899,830 $20,174,276 $3,214,190
2023 $8,418,820 $5,670,517 $15,281,096 $2,748,303
2022 $7,124,485 $5,121,040 $11,054,287 $2,003,445
2021 $7,281,946 $4,566,049 $10,102,073 $2,715,897
2020 $5,926,045 $4,895,911 $7,824,126 $1,030,134
2019 $5,080,901 $4,576,741 $6,004,173 $504,160
2018 $4,352,718 $4,251,793 $5,331,827 $100,925
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