ERITREAN ASSOCIATION IN GREATER SE… - 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

1995

Legal Domicile

Principal Officer

Efrem Mehari

Phone

2066229180

Tax Period

2024-01-01 to 2024-12-31

ERITREAN ASSOCIATION IN GREATER SEATTLE, founded in 1995, is a community nonprofit in the Human Services sector that reported $2.4M in total revenue in fiscal year 2024. Revenue surged 75% from the prior year, signaling strong growth momentum. The organization ran a surplus of $476K, a strong 20% operating margin.

Mission

Community Services

Program Service Accomplishments

Program 1

Expenses: $182,960 Revenue: $339,828

Capital Improvements and maintenance of community center,community center is used for education, senior services,cultural events, youth services, community activities and other community services as...

Program 2

Expenses: $1,567,737 Revenue: $2,027,517

Programs for childen & youth, including Eritrean language, culture and dance. Serving 90-120 participants Programs for seniors including, culturally appropriate meals three days a week, a weekly food pantry, health information, cultural activities and other resources, Serving 470 low-income immigrant and refugee seniors. Support for women meeting monthly, Serving 45-50 participants. Support for parents meeting weekly. Serving 50-100 participants Civic engagemt opportunities reaching approximately 3000 participants. This includes voter education, outreach, labor standards outreach and intake, and COVID 19 information & assistance. Cultural events and festivals throughout the year reaching over 4500 participants. Next generation leadership program, serving 17 participants weekly. Basic services for new immigrants and refugees including information and assistance, translantion and interpretation, access to food and rental resources.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,360,455

Program Service Revenue $0

Investment Income $33

Other Revenue $6,890

TOTAL REVENUE $2,367,378

Expense Breakdown

Grants Paid $0

Salaries & Benefits $817,836

Fundraising Expenses $61,685

Program Expenses $1,750,697

Other Expenses $1,027,858

TOTAL EXPENSES $1,891,627

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,367,378	$1,350,088	+0.8%
Expenses	$1,891,627	$1,473,882	+0.3%
Net Income	$475,751	$-123,794	-4.8%

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
Efrem Mehari	President	1.00	Officer	$0	$0	$0
Almaz Ghebremichael	Secretary	1.00	Officer	$0	$0	$0
Meaza Zehaie	Treasurer	1.00	Officer	$0	$0	$0
Medhane Sebhatu	Vice President	1.00	Officer	$0	$0	$0
Tekel Berhane	Member	1.00	Director	$0	$0	$0
Tsige Gebregergish	Member	1.00	Director	$0	$0	$0
Negasi Gebrehiwot	Member	1.00	Director	$0	$0	$0
Benyam Stephanos	Member	1.00	Director	$0	$0	$0
Workinesh Tianen	Member	1.00	Director	$0	$0	$0
Bemnet Tesfamariam	Member	1.00	Director	$0	$0	$0
Belainesh Habtay	Member	1.00	Director	$0	$0	$0
Tekeste M Wolday	Member	1.00	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	$2,367,378	$1,891,627	$3,155,468	$475,751
2023	$1,350,088	$1,473,882	$2,769,176	$-123,794
2023	$1,336,358	$1,473,882	$2,755,446	$-137,524
2022	$1,352,754	$1,476,942	$2,927,949	$-124,188
2021	$1,395,374	$927,337	$3,179,246	$468,037
2020	$982,135	$963,693	$2,699,848	$18,442
2019	$400,727	$475,203	$2,558,826	$-74,476
2018	$357,434	$385,679	$2,631,089	$-28,245

ERITREAN ASSOCIATION IN GREATER SEATTLE