SOUND CITIES 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

1993

Legal Domicile

Phone

2064337168

Tax Period

2023-01-01 to 2023-12-31

SOUND CITIES ASSOCIATION, founded in 1993, is a small nonprofit that reported $975K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $926K left a modest 5% surplus.

Mission

Leadership through advocacy, education, mutual support, and networking to member cities in King County as they act locally, partner regionally to create livable vital communities. Activities supporting the mission: appointment of elected to boards/committees, monitoring regional issues for city impact.

Program Service Accomplishments

Program 1

Expenses: $841,158 Revenue: $962,013

1. SCA appoints members to various regional boards and committees - SCA Executive Director and Policy Analysts provide policy analysis to members serving on those regional boards and committees, and Chief Operating Officer and Administrative Assistant provides administrative support. 2. SCA brings together our 38 member cities to discuss regional policy at the Public Issues Committee (PIC) - Executive Director and Policy Analysts provide policy support, Chief Operating Officer provides administrative support. 3. SCA holds networking events and educational forums for our members.

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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 $0

Program Service Revenue $962,013

Investment Income $13,108

Other Revenue $0

TOTAL REVENUE $975,121

Expense Breakdown

Grants Paid $0

Salaries & Benefits $821,032

Fundraising Expenses $0

Program Expenses $841,158

Other Expenses $105,400

TOTAL EXPENSES $926,432

Year-over-Year Comparison

	2023	2022	Change
Revenue	$975,121	$883,056	+0.1%
Expenses	$926,432	$922,002	+0.0%
Net Income	$48,689	$-38,946	-2.3%

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

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

$246,268

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David Hoffman	Executive Director	40.00	Officer	$196,251	$50,017	$246,268
Brian Parry	Policy Director	40.00	Highest	$147,558	$28,074	$175,632
Leah Willoughby	Chief Operating Officer	40.00	Highest	$117,989	$23,438	$141,427
Jan Molinaro	Board President and Mayor of Enumclaw	10.00	Director	$0	$0	$0
Mary Lou Pauly	Board Vice President and Mayor of Issaquah	10.00	Director	$0	$0	$0
Carl Cole	Board Treasurer and City Manager of SeaTac	4.00	Director	$0	$0	$0
James McNeal	Board Secretary and Councilmember for Bothell	4.00	Director	$0	$0	$0
Angela Birney	Board Immediate Past President and Mayor of Redmond	4.00	Director	$0	$0	$0
Amy Falcone	Board member and Councilmember for Kirkland	4.00	Director	$0	$0	$0
Wendy Weiker	Board member and Duputy Mayor of Mercer Island	4.00	Director	$0	$0	$0
De'Sean Quinn	Board member and Councilemember for Tukwila	4.00	Director	$0	$0	$0
Jim Ferrell	Board member and Mayor of Federal Way	4.00	Director	$0	$0	$0
Traci Buxton	Board member and Deputy Mayor of Des Moines	4.00	Director	$0	$0	$0
Amy Ockerlander	Board member and Mayor of Duvall	4.00	Director	$0	$0	$0
Armondo Pavone	Board member and Mayor of Renton	4.00	Director	$0	$0	$0
Bill Boyce	Board member and Council President for Kent	4.00	Director	$0	$0	$0

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	$975,121	$926,432	$1,729,853	$48,689
2022	$883,056	$922,002	$1,601,769	$-38,946
2021	$819,957	$777,620	$840,811	$42,337
2020	$798,174	$742,771	$796,708	$55,403
2019	$830,188	$802,334	$705,849	$27,854
2018	$758,629	$772,605	$666,740	$-13,976