SEATTLE ECONOMIC DEVELOPMENT FUND BUSINESS IMPACT NW

EIN: 911764008 501(c)(3) Community Improvement

TUKWILA, WA

Total Revenue
$9,139,901
Total Expenses
$8,874,279
Total Assets
$29,544,770
Net Assets
$8,676,371
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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
1997
Legal Domicile
WA
Principal Officer
JOE SKY-TUCKER
Phone
2063244330
Tax Period
2024-01-01 to 2024-12-31

SEATTLE ECONOMIC DEVELOPMENT FUND BUSINESS IMPACT NW, founded in 1997, is a community nonprofit in the Community Improvement sector that reported $9.1M in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE ECONOMIC DEVELOPMENT FINANCING TO SERVE THE NEEDS OF SMALL BUSINESSES IN THE STATE OF WASHINGTON THAT WOULD NOT QUALIFY FOR PRIVATE FINANCING UNDER CONVENTIONAL FINANCING CRITERIA.

Program Service Accomplishments

Program 1
Expenses: $6,074,850 Revenue: $2,596,732

LOAN FUND ADMINISTRATION AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE FINANCING AND MANAGEMENT ASSISTANCE PRIMARILY TO TARGETED BUSINESSES THAT WOULD OTHERWISE NOT BE...

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LOAN FUND ADMINISTRATION AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE FINANCING AND MANAGEMENT ASSISTANCE PRIMARILY TO TARGETED BUSINESSES THAT WOULD OTHERWISE NOT BE ABLE TO RECEIVE FINANCING UNDER CONVENTIONAL METHODS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $6,119,103
Program Service Revenue $2,588,307
Investment Income $67,829
Other Revenue $364,662
TOTAL REVENUE $9,139,901

Expense Breakdown

Grants Paid $71,367
Salaries & Benefits $5,917,882
Fundraising Expenses $735,170
Program Expenses $6,074,850
Other Expenses $2,885,030
TOTAL EXPENSES $8,874,279

Year-over-Year Comparison

2024 2023 Change
Revenue $9,139,901 $6,779,426 +0.3%
Expenses $8,874,279 $8,795,037 +0.0%
Net Income $265,622 $-2,015,611 -1.1%
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
9
Independent Members
9
Employees
80
Volunteers
70

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
6
$312,882
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN ZMOLEK BOARD CHAIR 1.00
Officer Director
$0 $0 $0
KELLEN BALL BOARD VICE CHAIR 1.00
Officer Director
$0 $0 $0
PAUL KIRKBRIDE BOARD TREASURER 1.00
Officer Director
$0 $0 $0
LORRI WALLACE SECRETARY 0.50
Officer Director
$0 $0 $0
JESSICA ENZI DIRECTOR (THRU 1/24) 1.00
Director
$0 $0 $0
PETER HA DIRECTOR 1.00
Director
$0 $0 $0
ROBERT LUETTJOHANN DIRECTOR 1.00
Director
$0 $0 $0
SEAN O'MEALIA DIRECTOR 1.00
Director
$0 $0 $0
MEGAN SNYDER DIRECTOR 1.00
Director
$0 $0 $0
KURT HEATH DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH SKY-TUCKER PRESIDENT/CEO 40.00
Officer
$149,805 $17,743 $167,548
HENRY HITT CFO/COO 40.00
Officer
$134,404 $10,930 $145,334
DOMONIQUE JULEON CPO 40.00
Highest
$140,520 $11,157 $151,677
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 $9,139,901 $8,874,279 $29,544,770 $265,622
2023 $6,779,426 $8,795,037 $30,476,339 $-2,015,611
2022 $9,619,486 $6,702,997 $28,030,464 $2,916,489
2021 $7,984,943 $3,774,839 $28,288,075 $4,210,104
2020 $5,335,968 $3,648,892 $20,551,413 $1,687,076
2019 $2,310,123 $2,351,635 $11,530,949 $-41,512
2018 $1,937,695 $1,868,849 $11,398,097 $68,846
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