SEATTLE INSTITUTE FOR BIOMEDICAL A… - Form 990 Financial Data

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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

1989

Legal Domicile

Principal Officer

DANIELLE FLEUMER MPA

Phone

2062046180

Tax Period

2023-10-01 to 2024-09-30

SEATTLE INSTITUTE FOR BIOMEDICAL AND CLINICAL RESEARCH, founded in 1989, is a mid-sized nonprofit in the Medical Research sector that reported $26.8M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $26.0M left a modest 3% surplus.

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF VETERANS THROUGH RESEARCH AND EDUCATION CONDUCTED AT THE VA PUGET SOUND HEALTH CARE SYSTEM AND THE MANN-GRANDSTAFF VA MEDICAL CENTER.

Program Service Accomplishments

Program 1

Expenses: $22,947,611

SUPPORTED COMPLETELY OR IN PART, ONGOING RESEARCH PROJECTS AND PROGRAMS IN MILITARY AND VETERAN HEALTH ISSUES (GULF WAR ILLNESS, PTSD, REHABILITATION FOR VETERANS); TRAUMATIC BRAIN INJURY (TBI) AND CONCUSSIONS; PROSTHETICS AND REHABILITATION; SUBSTANCE USE DISORDERS AND ADDICTION; CANCER; ALZHEIMER'S DISEASE AND NEURODEGENERATIVE DISORDERS; DIABETES AND METABOLIC DISORDERS; PAIN MANAGEMENT AND CHRONIC PAIN CONDITIONS; CARDIOVASCULAR DISEASES AND STROKE; OBESITY AND WEIGHT MANAGEMENT; AND PULMONARY. THE BIOMEDICAL AND CLINICAL RESEARCH ENDEAVORS SUPPORTED BY THE INSTITUTE BENEFIT THE VETERAN POPULATION AND SOCIETY AT LARGE.

Program 2

Expenses: $2,672

THE INSTITUTE HAS PROVIDED INTRAMURAL FUNDS TO INVESTIGATORS FOR PILOT OR NOVEL RESEARCH PROJECTS. SOME OF THE PROJECTS FUNDED INCLUDE RESEARCH IN BASIC AND CLINICAL NEUROSCIENCE.

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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 $26,264,107

Program Service Revenue $0

Investment Income $554,590

Other Revenue $0

TOTAL REVENUE $26,818,697

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,784,353

Fundraising Expenses $0

Program Expenses $22,950,283

Other Expenses $14,184,172

TOTAL EXPENSES $25,968,525

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,818,697	$20,869,614	+0.3%
Expenses	$25,968,525	$19,738,190	+0.3%
Net Income	$850,172	$1,131,424	-0.2%

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

142

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

$630,660

Total Directors

$2,332,819

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM BANKS MD	DIRECTOR	1.00	Director	$0	$0	$308,504
PEGGY KIM MD	DIRECTOR	1.00	Director	$0	$0	$357,883
MURRY RASKIND MD	DIRECTOR	1.00	Director	$0	$0	$324,384
TRACY SIMPSON PHD	VICE PRESIDENT	1.00	Officer Director	$0	$0	$163,224
RUDOLPH RODRIGUEZ MD	DIRECTOR	1.00	Director	$0	$0	$306,833
ROBERT FISCHER MD FACOG	DIRECTOR	1.00	Director	$0	$0	$335,181
THOMAS BUNDT PHD FACHE	DIRECTOR	1.00	Director	$0	$0	$212,400
JESSE MARKMAN MDMBA COS	DIRECTOR	1.00	Director	$0	$0	$324,410
ALVIN MATSUMOTO MD	PRESIDENT	2.00	Officer Director	$0	$0	$0
SMITHA DANTE JD	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRIS BUNDESMANN CPA	TREASURER	1.00	Officer Director	$0	$0	$0
W CONRAD LILES MD PHD	DIRECTOR	1.00	Director	$0	$0	$0
SHELLY SAKIYAMA-ELBERT PHD	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE FLEUMER	EXECUTIVE DIRECTOR	40.00	Officer	$229,099	$50,191	$279,290
ELENA ALEXANDER	DIRECTOR OF FINANCE	40.00	Officer	$153,426	$34,720	$188,146
ANNETTE CODER	DIRECTOR OF HR/OPERATIONS	40.00	Highest	$149,019	$23,391	$172,410
JESSE KASTEN	POPCAP DIRECTOR	40.00	Highest	$195,540	$47,896	$243,436
AMY MARSH	HRPP DIRECTOR	40.00	Highest	$126,278	$30,185	$156,463
REBECCA WALKER	DIRECTOR OF SPONSORED PROGRAMS	40.00	Highest	$147,860	$23,624	$171,484
YUN XIANG	BIOSTATISTITIAN	40.00	Highest	$126,240	$33,580	$159,820

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	$26,818,697	$25,968,525	$21,584,997	$850,172
2023	$20,869,614	$19,738,190	$18,919,904	$1,131,424
2022	$19,540,425	$18,558,179	$16,684,792	$982,246
2021	$17,750,569	$16,795,861	$15,332,692	$954,708
2021	$17,750,569	$16,795,861	$15,332,692	$954,708
2020	$16,049,598	$16,270,557	$13,854,060	$-220,959
2019	$15,909,107	$15,647,976	$13,351,224	$261,131
2018	$13,525,406	$13,413,864	$13,016,261	$111,542

SEATTLE INSTITUTE FOR BIOMEDICAL AND CLINICAL RESEARCH