LIFE SCIENCE WASHINGTON

EIN: 911453398

SEATTLE, WA

Total Revenue
$3,419,352
Total Expenses
$3,196,351
Total Assets
$4,648,110
Net Assets
$1,408,238
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
WA
Principal Officer
MARC CUMMINGS
Phone
2064569567
Tax Period
2023-01-01 to 2023-12-31

LIFE SCIENCE WASHINGTON, founded in 1990, is a community nonprofit that reported $3.4M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $3.2M left a modest 7% surplus.

Mission

LIFE SCIENCE WASHINGTON IS A NON-PROFIT TRADE AND PROFESSIONAL ASSOCIATION DEDICATED TO PROMOTING INNOVATION AND RESPONSIBLE GROWTH IN THE LIFE SCIENCES AND BIOMEDICAL INDUSTRIES IN THE STATE OF WASHINGTON. PROMOTION AND EDUCATION ARE PRIMARILY IN THE FORM OF NEWSLETTERS, SPECIAL EVENTS, AND LOBBYING.

Program Service Accomplishments

Program 1

LIFE SCIENCE WASHINGTON HOSTS ANNUAL MEETINGS FOR BOTH MEMBERS AND NON-MEMBERS IN FIELDS RELATED TO LIFE SCIENCES. THE ASSOCIATION PROMOTES CONTINUAL GROWTH BY HOSTING NETWORKING AND PROFESSIONAL...

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LIFE SCIENCE WASHINGTON HOSTS ANNUAL MEETINGS FOR BOTH MEMBERS AND NON-MEMBERS IN FIELDS RELATED TO LIFE SCIENCES. THE ASSOCIATION PROMOTES CONTINUAL GROWTH BY HOSTING NETWORKING AND PROFESSIONAL DEVELOPMENT EVENTS.

Program 2

LIFE SCIENCE WASHINGTON SPONSORS COMMUNITY EDUCATION AND PROMOTIONAL EVENTS AIMED AT ENCOURAGING INNOVATION AND RESPONSIBLE GROWTH IN THE AREA OF LIFE SCIENCES.

Program 3

THE ASSOCIATION PUBLISHES AN ANNUAL MEMBERSHIP ONLINE DIRECTORY WITH INDUSTRY PROFILES ALLOWING USERS WITHIN RELATED FIELDS TO CONNECT AND WORK TOGETHER WHILE STRIVING TOWARD COMMON GOALS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $410,021
Program Service Revenue $1,845,080
Investment Income $62,070
Other Revenue $1,102,181
TOTAL REVENUE $3,419,352

Expense Breakdown

Grants Paid $85,000
Salaries & Benefits $1,696,988
Fundraising Expenses $0
Other Expenses $1,414,363
TOTAL EXPENSES $3,196,351

Year-over-Year Comparison

2023 2022 Change
Revenue $3,419,352 $2,914,848 +0.2%
Expenses $3,196,351 $2,579,503 +0.2%
Net Income $223,001 $335,345 -0.3%
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
45
Independent Members
44
Employees
11
Volunteers
55

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
3
$434,209
Total Directors
47
$434,209
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARC CUMMINGS PRESIDENT & CEO/SECRETARY 48.00
Officer Director
$414,124 $20,085 $434,209
RICHARD FABIAN CHAIR 1.00
Officer Director
$0 $0 $0
TERESA FOY PHD TREASURER 1.00
Officer Director
$0 $0 $0
ROBIN ANDRULEVICH BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL BUCKLEY PHD BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN COX BOARD MEMBER 1.00
Director
$0 $0 $0
DARYLL DEWALD PHD BOARD MEMBER 1.00
Director
$0 $0 $0
ERICA FEWEL BOARD MEMBER 1.00
Director
$0 $0 $0
KELLY LISBAKKEN BOARD MEMBER 1.00
Director
$0 $0 $0
JENS U QUISTGAARD PHD BOARD MEMBER 1.00
Director
$0 $0 $0
RHONDA RHYNE BOARD MEMBER 1.00
Director
$0 $0 $0
CHAD ROBINS BOARD MEMBER 1.00
Director
$0 $0 $0
LINDA ZUCKERMAN PHD BOARD MEMBER 1.00
Director
$0 $0 $0
NANCY ALLBRITTON MD PHD BOARD MEMBER 1.00
Director
$0 $0 $0
ALISON BEASON BOARD MEMBER 1.00
Director
$0 $0 $0
JAN BECK BOARD MEMBER 1.00
Director
$0 $0 $0
BILL BRADY BOARD MEMBER 1.00
Director
$0 $0 $0
CAITLIN CAMERON BOARD MEMBER 1.00
Director
$0 $0 $0
LESLIE CORNICK PHD BOARD MEMBER 1.00
Director
$0 $0 $0
VALERIE DAGGETT PHD BOARD MEMBER 1.00
Director
$0 $0 $0
ANDREW DERVAN BOARD MEMBER 1.00
Director
$0 $0 $0
JONATHAN DRACHMAN MD BOARD MEMBER 1.00
Director
$0 $0 $0
NICOLE DUNHAM BOARD MEMBER 1.00
Director
$0 $0 $0
SONYA F ERICKSON BOARD MEMBER 1.00
Director
$0 $0 $0
HEATHER FRANKLIN MS MBA BOARD MEMBER 1.00
Director
$0 $0 $0
W MIKE GALLATIN BOARD MEMBER (PART YEAR) 1.00
Director
$0 $0 $0
BRAD GRAY BOARD MEMBER 1.00
Director
$0 $0 $0
STEVEN R HAYDON BOARD MEMBER (PART YEAR) 1.00
Director
$0 $0 $0
MERIKA KODAY BOARD MEMBER 1.00
Director
$0 $0 $0
LORETTA LITTLE MBA BOARD MEMBER 1.00
Director
$0 $0 $0
SCOTT MALONEY MBA BOARD MEMBER 1.00
Director
$0 $0 $0
SEAN MCCLAIN BOARD MEMBER 1.00
Director
$0 $0 $0
MARGARET MCCORMICK PHD BOARD MEMBER 1.00
Director
$0 $0 $0
CINDY MCDONALD-EVERETT BOARD MEMBER 1.00
Director
$0 $0 $0
RON MYERS MS JD BOARD MEMBER 1.00
Director
$0 $0 $0
ERIK NILSSON BOARD MEMBER 1.00
Director
$0 $0 $0
CRAIG PHILIPS BOARD MEMBER 1.00
Director
$0 $0 $0
CHRIS PICARDO BOARD MEMBER 1.00
Director
$0 $0 $0
NICK REDER BOARD MEMBER 1.00
Director
$0 $0 $0
AMANDA ROSE BOARD MEMBER 1.00
Director
$0 $0 $0
ANDREW T SERAFINI PHD BOARD MEMBER 1.00
Director
$0 $0 $0
KEN STUART PHD BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN SURRATT BOARD MEMBER 1.00
Director
$0 $0 $0
ERIK VON SCHENCK BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN WECKER PHD BOARD MEMBER 1.00
Director
$0 $0 $0
DAVE VACHON BOARD MEMBER 1.00
Director
$0 $0 $0
FRANCISCO R VELAZQUEZ MD SM BOARD MEMBER 1.00
Director
$0 $0 $0
AMANDA TRAN VP, MEMBERSHIP SERVICES 48.00
Highest
$170,053 $20,927 $190,980
KATHLEEN POSTON VP, FINANCE & ADMINISTRATION 47.00
Highest
$161,113 $20,480 $181,593
SRIKANT IYER PHD DIR WORKFORCE DEVELOP & EDUC. PSHIPS 40.00
Highest
$112,366 $3,859 $116,225
DALE WILLARD DIRECTOR OF MEMBER SERVICES 40.00
Highest
$117,991 $18,324 $136,315
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 $3,419,352 $3,196,351 $4,648,110 $223,001
2022 $2,914,848 $2,579,503 $4,067,495 $335,345
2021 $2,651,737 $2,401,396 $3,894,954 $250,341
2020 $2,430,019 $2,395,163 $3,247,562 $34,856
2019 $2,527,646 $2,516,431 $3,076,193 $11,215
2018 $2,708,613 $2,586,323 $3,023,718 $122,290
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