KIRKLAND DOWNTOWN ASSOCIATION

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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

1999

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

KIRKLAND DOWNTOWN ASSOCIATION, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $338K in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $386K exceeded revenue, resulting in a 14% operating deficit.

Mission

CREATE A VIBRANT AND CONNECTED COMMUNITY BY PROMOTING EVENTS AND BEAUTIFICATION TO ENCOURAGE PEOPLE TO VISIT, LIVE , SHOP, WORK, AND PLAY IN KIRKLAND.

Program Service Accomplishments

Program 1

Expenses: $186,986 Revenue: $298,720

EVENTS WHICH SERVE TO PROMOTE, BEAUTIFY, AND PRESERVE THE DOWNTOWN AREA WHICH THEN ENCOURAGES THE COMMUNITY TO VISIT, SHOP, LIVE, WORK, AND PLAY IN THE CITY OF KIRKLAND.

Program 2

Expenses: $32,730 Revenue: $39,716

KIRKLAND WEDNESDAY MARKET - PROMOTES LOCAL FARMERS AND ARTISIANS, AND PROVIDES A CENTRAL LOCATION IN THE DOWNTOWN AREA WHICH DRAWS CUSTOMERS FROM THE SURROUNDING COMMUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $253,896

Program Service Revenue $84,540

Investment Income $0

Other Revenue $0

TOTAL REVENUE $338,436

Expense Breakdown

Grants Paid $0

Salaries & Benefits $104,350

Fundraising Expenses $0

Program Expenses $219,716

Other Expenses $281,560

TOTAL EXPENSES $385,910

Year-over-Year Comparison

	2023	2022	Change
Revenue	$338,436	$396,601	-0.1%
Expenses	$385,910	$359,649	+0.1%
Net Income	$-47,474	$36,952	-2.3%

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

100

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

Total Directors

$3,640

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNE HESS	EXECUTIVE DIRECTOR	30.00	Director	$2,730	$0	$2,730
STEPHANIE MORRIS	DIRECTOR OF FINANCE	5.00	Director	$910	$0	$910
GLENN PETERSON	DIRECTOR	2.00	Director	$0	$0	$0
MELISSA FOSTER	DIRECTOR	2.00	Director	$0	$0	$0
KATHY FEEK	DIRECTOR	2.00	Director	$0	$0	$0
JOHN SHERWOOD	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTIAN SWITZER	DIRECTOR	2.00	Director	$0	$0	$0
GARETT OINESS	DIRCTOR	2.00	Director	$0	$0	$0
CASSANDRA JOYNER	DIRECTOR	2.00	Director	$0	$0	$0
CINDY REYNOLDS	DIRECTOR	2.00	Director	$0	$0	$0
LEANNA THOMAJAN	DIRECTOR	2.00	Director	$0	$0	$0
YAKOV GORSHKOV	DIRECTOR	2.00	Director	$0	$0	$0
ANNE HESS	PRESIDENT	2.00	Officer	$0	$0	$0
CHRISTINA ROBERTS	VICE PRESIDENT	2.00	Officer	$0	$0	$0
CASSANDRA JOYNER	PRESIDENT	2.00	Officer	$0	$0	$0
STEPHANIE MORRIS	TREASURER	2.00	Officer	$0	$0	$0
ALISON WILKISON	SECRETARY	2.00	Officer	$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	No data	No data	No data	No data
2023	$338,436	$385,910	$175,245	$-47,474
2022	$396,601	$359,649	$225,220	$36,952
2021	$285,093	$186,243	$192,018	$98,850
2020	$175,996	$158,072	$93,191	$17,924
2019	$358,195	$402,750	$79,058	$-44,555
2018	$346,496	$392,689	$122,873	$-46,193