WASHINGTON ICE SKATING ASSOCIATION

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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

1988

Legal Domicile

Principal Officer

MIKE MURPHY

Phone

4257712006

Tax Period

2025-01-01 to 2025-12-31

WASHINGTON ICE SKATING ASSOCIATION, founded in 1988, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2025. Expenses of $2.3M left a modest 14% surplus.

Mission

WASHINGTON ICE SKATING ASSOCIATION (WISA) PROMOTES THE GROWTH OF FIGURE SKATING AND AMATEUR HOCKEY IN THE GREATER SEATTLE AREA.

Program Service Accomplishments

Program 1

Expenses: $1,908,354 Revenue: $2,491,286

IN ORDER TO ACHIEVE THE GOAL OF PROMOTING FIGURE SKATING AND AMATEUR HOCKEY, WISA OPERATES BOTH THE OLYMPICVIEW ARENA AND LYNNWOOD ICE CENTER. IN ADDITION TO FACILITY OPERATIONS, WISA PROVIDES...

IN ORDER TO ACHIEVE THE GOAL OF PROMOTING FIGURE SKATING AND AMATEUR HOCKEY, WISA OPERATES BOTH THE OLYMPICVIEW ARENA AND LYNNWOOD ICE CENTER. IN ADDITION TO FACILITY OPERATIONS, WISA PROVIDES OPERATIONAL SUPPORT OF BOTH YOUTH HOCKEY AND YOUTH FIGURE SKATING. PROGRAMS THAT TAKE PLACE AT THE FACILITIES RANGE FROM BASIC SKILLS PROGRAMS TO PROGRAMS THAT SUPPORT ADVANCING SKATERS IN BOTH YOUTH HOCKEY AND FIGURE SKATING. PUBLIC SESSIONS ARE ALSO HELD AT LYNNWOOD ICE CENTER.

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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 (2025)

Revenue Breakdown

Contributions & Grants $109,141

Program Service Revenue $2,491,286

Investment Income $12,641

Other Revenue $60,406

TOTAL REVENUE $2,673,474

Expense Breakdown

Grants Paid $0

Salaries & Benefits $912,318

Fundraising Expenses $0

Program Expenses $1,908,354

Other Expenses $1,395,070

TOTAL EXPENSES $2,307,388

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,673,474	$2,568,712	+0.0%
Expenses	$2,307,388	$2,190,327	+0.1%
Net Income	$366,086	$378,385	0.0%

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

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
MIKE MURPHY	PRESIDENT	1.00	Officer Director	$0	$0	$0
ELIZABETH CADEZ-OLSEN	VICE-PRESIDENT	1.00	Officer Director	$0	$0	$0
GORD WHITAKER	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
SHAWN POWERS	DIRECTOR	1.00	Director	$0	$0	$0
IAN ARMSTRONG	GENERAL MANAGER	40.00	Highest	$158,902	$21,909	$180,811

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	$2,673,474	$2,307,388	$6,504,331	$366,086
2024	$2,568,712	$2,190,327	$6,507,612	$378,385
2023	$2,261,239	$2,034,670	$6,307,689	$226,569
2022	$1,914,989	$1,755,081	$6,176,257	$159,908
2021	$1,991,368	$1,589,091	$5,365,041	$402,277
2020	$957,514	$1,452,333	$5,256,534	$-494,819
2019	$2,008,125	$1,836,428	$5,708,713	$171,697
2018	$1,905,812	$1,910,963	$5,760,729	$-5,151