INNOVATE WASHINGTON FOUNDATION (EIN 911726442) - Form 990 Financial Analysis & Trantor Score

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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

1996

Legal Domicile

Principal Officer

THOMAS SIMPSON

Phone

5099532989

Tax Period

2024-01-01 to 2024-12-31

INNOVATE WASHINGTON FOUNDATION, founded in 1996, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $944K in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $1.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

INNOVATE WASHINGTON FOUNDATION COLLABORATES, CONVENES AND CONNECTS INNOVATORS AND RESEARCHERS WITH ENTREPRENEURIAL AND FINANCIAL CAPITAL NEEDS TO PRODUCE WORLD-CLASS COMPANIES AND HIGH-VALUE JOBS THAT WILL FORM THE BACKBONE OF THE REGION'S FUTURE ECONOMY.

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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 $131,950

Program Service Revenue $804,988

Investment Income $6,676

Other Revenue $437

TOTAL REVENUE $944,051

Expense Breakdown

Grants Paid $0

Salaries & Benefits $397,216

Fundraising Expenses $0

Program Expenses $787,146

Other Expenses $681,956

TOTAL EXPENSES $1,079,172

Year-over-Year Comparison

	2024	2023	Change
Revenue	$944,051	$814,164	+0.2%
Expenses	$1,079,172	$1,136,223	-0.1%
Net Income	$-135,121	$-322,059	-0.6%

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

$331,296

Total Directors

$168,583

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS SIMPSON	CEO	40.00	Officer Director	$136,366	$32,217	$168,583
RICHARD DENENNY	CHAIR	1.00	Officer Director	$0	$0	$0
SKYE HENDERSON	SECRETARY	1.00	Officer Director	$0	$0	$0
SHELLY COLOMB	DIRECTOR	1.00	Director	$0	$0	$0
TYLER LAFFERTY	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD REPP	DIRECTOR	1.00	Director	$0	$0	$0
APRIL STOLTZ	CFO	40.00	Officer	$122,628	$40,085	$162,713

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	$944,051	$1,079,172	$8,589,866	$-135,121
2023	$814,164	$1,136,223	$8,526,138	$-322,059
2022	$1,197,636	$1,090,314	$8,489,904	$107,322
2021	$1,117,596	$1,259,827	$8,077,613	$-142,231
2020	$1,911,500	$1,020,285	$7,805,372	$891,215
2019	$660,002	$886,359	$6,754,258	$-226,357
2018	$713,902	$1,348,458	$6,874,165	$-634,556

INNOVATE WASHINGTON FOUNDATION