Pacific Marine Foundation Inc

EIN: 911753489 501(c)(3) Religion

Seattle, WA

Total Revenue
$257,218
Total Expenses
$225,214
Total Assets
$1,257,274
Net Assets
$770,835
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
WA
Principal Officer
David Wallace
Phone
2062253360
Tax Period
2023-08-01 to 2024-07-31

Pacific Marine Foundation Inc, founded in 1996, is a small nonprofit in the Religion sector that reported $257K in total revenue in fiscal year 2023. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $225K left a modest 12% surplus.

Mission

The organization raises funds to support educational and community based charitable organizations.

Program Service Accomplishments

Program 1
Expenses: $202,117

Solicitation and collection of boats for resale in order to support educational and community based organizations.

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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 $314,718
Program Service Revenue $0
Investment Income $0
Other Revenue $-57,500
TOTAL REVENUE $257,218

Expense Breakdown

Grants Paid $0
Salaries & Benefits $110,562
Fundraising Expenses $9,313
Program Expenses $202,117
Other Expenses $114,652
TOTAL EXPENSES $225,214

Year-over-Year Comparison

2023 2022 Change
Revenue $257,218 $392,407 -0.3%
Expenses $225,214 $309,449 -0.3%
Net Income $32,004 $82,958 -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

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Governance

Voting Members
3
Independent Members
N/A
Employees
2
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
3
$102,705
Total Directors
3
$102,705
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David Wallace President 40.00
Officer Director
$67,816 $0 $67,816
Richard Wallace Officer 40.00
Officer Director
$34,889 $0 $34,889
Eric Wallace Officer 20.00
Officer 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 $257,218 $225,214 $1,257,274 $32,004
2023 $392,407 $309,449 $1,093,026 $82,958
2022 $106,855 $318,941 $888,408 $-212,086
2021 $393,694 $220,493 $1,134,008 $173,201
2020 $482,830 $225,487 $990,569 $257,343
2019 $259,249 $244,471 $756,065 $14,778
2018 $-45,964 $264,459 $709,850 $-310,423
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