PACIFIC NORTHWEST QUILT AND FIBER … - 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

1997

Legal Domicile

Principal Officer

SARAH LABARRE

Phone

3604664288

Tax Period

2024-01-01 to 2024-12-31

PACIFIC NORTHWEST QUILT AND FIBER ARTS MUSEUM, founded in 1997, is a small nonprofit in the Arts, Culture & Humanities sector that reported $266K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $449K exceeded revenue, resulting in a 69% operating deficit.

Mission

THE MISSION OF THE PACIFIC NORTHWEST QUILT & FIBER ARTS MUSEUM IS TO PRESENT EXHIBITIONS AND EDUCATIONAL PROGRAMS IN ALL FIBER ARTS THAT ENRICH AND INSPIRE, HONOR CULTURAL TRADITIONS, AND CELEBRATE THE CREATIVE SPIRIT.

Program Service Accomplishments

Program 1

Expenses: $384,427 Revenue: $78,650

THESE INCLUDE QUILT & FIBER ARTS FESTIVAL AND MUSEUM EXHIBITS. QUILT & FIBER ARTS FESTIVAL IS A JURIED AND JUDGED EXHIBITION TO PROMOTE THE QUILTING AND FIBER ARTS COMMUNITY TO THE PUBLIC. THE...

THESE INCLUDE QUILT & FIBER ARTS FESTIVAL AND MUSEUM EXHIBITS. QUILT & FIBER ARTS FESTIVAL IS A JURIED AND JUDGED EXHIBITION TO PROMOTE THE QUILTING AND FIBER ARTS COMMUNITY TO THE PUBLIC. THE FESTIVAL EDUCATES, PROMOTES, AND RECOGNIZES EXCELLENCE AND DIVERSITY IN THE FIBER ARTS. MUSEUM EXHIBITS PROVIDES ACCESS TO EXCEPTIONAL FIBER ARTS FOR ART APPRECIATION IN THE COMMUNITY AND THE REGION. EXHIBITS SUPPORT EDUCATIONAL INITIATIVES SUCH AS CLASSES, LECTURES AND WORKSHOPS.

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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 $142,353

Program Service Revenue $78,650

Investment Income $-5,962

Other Revenue $50,976

TOTAL REVENUE $266,017

Expense Breakdown

Grants Paid $0

Salaries & Benefits $216,365

Fundraising Expenses $17,095

Program Expenses $384,427

Other Expenses $232,378

TOTAL EXPENSES $448,743

Year-over-Year Comparison

	2024	2023	Change
Revenue	$266,017	$338,816	-0.2%
Expenses	$448,743	$393,134	+0.1%
Net Income	$-182,726	$-54,318	+2.4%

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

$65,742

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY GREEN	EXECUTIVE DIRECTOR UNTIL JULY 2024	40	Officer	$40,147	$0	$40,147
CARLA FUNK	EXECUTIVE DIRECTOR STARTED JULY 2024	40	Officer	$25,595	$0	$25,595
KATHLEEN ELMER	PRESIDENT	4	Officer Director	$0	$0	$0
DANA BOWNE	TREASURER	4	Officer Director	$0	$0	$0
PATTY PUCKETT TINGER	SECRETARY	4	Officer Director	$0	$0	$0
LISA JENNINGS	DIRECTOR	1	Director	$0	$0	$0
ANNE LINDQUIST	DIRECTOR	1	Director	$0	$0	$0
ECHO MAE	DIRECTOR	1	Director	$0	$0	$0
ELLE CULVER	DIRECTOR	1	Director	$0	$0	$0
DREW BETZ	DIRECTOR	1	Director	$0	$0	$0
RACHEL BECKHAM	DIRECTOR	1	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	$266,017	$448,743	$911,629	$-182,726
2023	$338,816	$393,134	$1,009,654	$-54,318
2022	$367,387	$348,815	$981,332	$18,572
2021	$533,184	$270,742	$1,066,203	$262,442
2020	$146,557	$273,113	$869,668	$-126,556
2019	$833,630	$331,266	$902,132	$502,364
2018	$218,411	$285,621	$427,835	$-67,210

PACIFIC NORTHWEST QUILT AND FIBER ARTS MUSEUM