ICICLE FUND (EIN 911943099) - 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

1998

Legal Domicile

Principal Officer

MITSU IWASAKI

Phone

5095480429

Tax Period

2024-07-01 to 2024-12-31

ICICLE FUND, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $369K in total revenue in fiscal year 2024. Revenue fell 84% from the prior year — a significant decline worth monitoring. Expenses of $685K exceeded revenue, resulting in a 86% operating deficit.

Mission

THE MISSION OF THE ICICLE FUND IS TO SUPPORT THE ENVIRONMENT, THE ARTS AND HISTORY THROUGH INNOVATIVE COLLABORATION IN NORTH CENTRAL WASHINGTON.

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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 $5,000

Program Service Revenue $0

Investment Income $620,869

Other Revenue $-257,125

TOTAL REVENUE $368,744

Expense Breakdown

Grants Paid $427,833

Salaries & Benefits $161,758

Fundraising Expenses $0

Program Expenses $562,388

Other Expenses $95,810

TOTAL EXPENSES $685,401

Year-over-Year Comparison

	2024	2023	Change
Revenue	$368,744	$2,369,084	-0.8%
Expenses	$685,401	$3,118,515	-0.8%
Net Income	$-316,657	$-749,431	-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

$638,955

Total Directors

$751,517

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MITSU IWASAKI	PRESIDENT	3.00	Officer Director	$0	$15,000	$165,233
PHIL LACEY	VICE PRESIDENT	3.00	Officer Director	$0	$0	$90,225
JAMES SCHROEDER	TREASURER	2.00	Officer Director	$0	$15,622	$210,908
SHARON LUNZ	SECRETARY	2.00	Officer Director	$0	$0	$0
NOELLE O'REILLY	DIRECTOR	1.00	Director	$0	$0	$0
KENI STURGEON	DIRECTOR	2.00	Director	$0	$0	$0
PAUL ISHII	DIRECTOR	3.00	Director	$0	$0	$0
CANUCHE TERRANELLA	DIRECTOR	2.00	Director	$0	$0	$71,766
EUNICE YOUMANS	DIRECTOR	2.00	Director	$0	$14,630	$147,369
SARAH JO LIGHTNER	DIRECTOR	1.00	Director	$0	$0	$66,016
CHRISTINE MORGAN	EXECUTIVE DIRECTOR THRU 10/31/24	32.00	Officer	$164,650	$0	$164,650
PHIL LACEY	EXECUTIVE DIRECTOR AS OF 11/1/24	32.00	Officer	$7,939	$0	$7,939

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	$368,744	$685,401	$56,722,905	$-316,657
2024	$2,369,084	$3,118,515	$51,444,310	$-749,431
2023	$14,031,984	$2,425,604	$50,061,150	$11,606,380
2022	$2,172,420	$2,801,174	$35,216,436	$-628,754
2021	$1,107,385	$2,515,545	$42,721,868	$-1,408,160
2020	$535,809	$1,559,986	$37,832,903	$-1,024,177
2019	$3,830,233	$1,283,795	$38,451,283	$2,546,438
2018	$862,121	$1,617,028	$34,738,411	$-754,907

ICICLE FUND