DOWNTOWN EVERETT 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

1982

Legal Domicile

Principal Officer

MICHAEL FINCH

Phone

4252580700

Tax Period

2025-01-01 to 2025-12-31

DOWNTOWN EVERETT ASSOCIATION, founded in 1982, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2025.

Mission

WE CHAMPION DOWNTOWN EVERETT'S COMMUNITY OF BUSINESSES, RESIDENTS, WORKERS, AND VISITORS BY SUPPORTING ECONOMIC VITALITY, PROMOTING LOCAL EXPERIENCES, CULTIVATING A STRONG ORGANIZATIONAL NETWORK, AND STEWARDING PUBLIC SPACES AND HISTORIC PLACES.

Program Service Accomplishments

Program 1

AS A DESIGNATED WASHINGTON STATE MAIN STREET COMMUNITY, THE ORGANIZATION INCREASED FUNDING WHICH ENABLES IT TO TAKE A LARGER ROLE IN REVITALIZING DOWNTOWN EVERETT THROUGH BUSINESS SUPPORT, PROMOTION AND EVENTS, DESIGN IMPROVEMENTS, ORGANIZATIONAL IMPROVEMENTS, AND TRANSPORTATION ADVOCACY.

Program 2

THE ASSOCIATION PROVIDED OUTSTANDING SERVICES MANAGING THE BUSINESS IMPROVEMENT AREA THROUGH CLEANING AND REVITALIZING THE DOWNTOWN CORE.

Program 3

THE ASSOCIATION SUCCESSFULLY MANAGED THE OPERATIONS FOR A CITY-OWNED PARKING GARAGE.

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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 $32,644

Program Service Revenue $1,063,039

Investment Income $13,790

Other Revenue $34,864

TOTAL REVENUE $1,144,337

Expense Breakdown

Grants Paid $0

Salaries & Benefits $845,002

Fundraising Expenses $0

Other Expenses $358,993

TOTAL EXPENSES $1,203,995

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,144,337	$1,172,860	0.0%
Expenses	$1,203,995	$1,086,102	+0.1%
Net Income	$-59,658	$86,758	-1.7%

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

162

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
MICHAEL FINCH	PRESIDENT	2.00	Officer Director	$0	$0	$0
PATRICK HALL	VICE PRESIDENT	2.10	Officer Director	$0	$0	$0
CRAIG SKOTDAL	TREASURER	0.80	Officer Director	$0	$0	$0
COREY MARGOLIS	SECRETARY	0.40	Officer Director	$0	$0	$0
AARON SHECKLER	DIRECTOR	0.40	Officer Director	$0	$0	$0
ALESSANDRA SZEBENYI	DIRECTOR	0.00	Director	$0	$0	$0
DAN GAFFNEY	DIRECTOR	0.10	Director	$0	$0	$0
ELEE WOOD	DIRECTOR	0.30	Director	$0	$0	$0
ERICA WEIR	DIRECTOR	0.50	Director	$0	$0	$0
JORDAN STEPHENS	DIRECTOR	0.10	Director	$0	$0	$0
KARLEE DEATHERAGE	DIRECTOR	0.50	Director	$0	$0	$0
TYLER CHISM	DIRECTOR	0.50	Director	$0	$0	$0
SHERRY JENNINGS	DIRECTOR	0.70	Director	$0	$0	$0
ELIZABETH STENNING	EXECUTIVE DIRECTOR	40.00	Highest	$110,360	$3,402	$113,762

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	$1,144,337	$1,203,995	$497,862	$-59,658
2024	$1,172,860	$1,086,102	$564,587	$86,758
2023	$1,094,353	$1,024,446	$469,784	$69,907
2022	$991,645	$933,017	$405,394	$58,628
2021	$883,340	$769,881	$349,595	$113,459
2020	$733,039	$777,431	$212,544	$-44,392
2019	$680,501	$694,577	$256,747	$-14,076
2018	$633,745	$800,971	$274,427	$-167,226