WASHINGTON STATE POTATO FOUNDATION

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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

2000

Legal Domicile

Principal Officer

TIM WATERS

Tax Period

2024-01-01 to 2024-12-31

WASHINGTON STATE POTATO FOUNDATION, founded in 2000, is a small nonprofit in the Education sector that reported $378K in total revenue in fiscal year 2024. Revenue surged 68% from the prior year, signaling strong growth momentum. The organization ran a surplus of $214K, a strong 57% operating margin.

Mission

THE FOUNDATION SUPPORTS EDUCATION, RESEARCH, PROMOTION, AND INFORMATION RELATED TO THE POTATO INDUSTRY IN WASHINGTON STATE.

Program Service Accomplishments

Program 1

Expenses: $77,148 Revenue: $64,733

INDUSTRY LEADERSHIP BANQUET - DURING THE INDUSTRY LEADERSHIP BANQUET, NOMINATIONS WERE RECEIVED TO HONOR A HOST OF GREAT LEADERS IN THE REGION AND AN AWARD CEREMONY CELEBRATED PAST AND PRESENT...

INDUSTRY LEADERSHIP BANQUET - DURING THE INDUSTRY LEADERSHIP BANQUET, NOMINATIONS WERE RECEIVED TO HONOR A HOST OF GREAT LEADERS IN THE REGION AND AN AWARD CEREMONY CELEBRATED PAST AND PRESENT LEADERS A WELL AS AN AGRICULTURAL COMPANY. ATTENDANCE FOR THIS EVENT WAS NEARLY 350 PEOPLE IN 2024. PARTICIPANTS SHOW THEIR FINANCIAL SUPPORT TO THE GENERAL FUND VIA SCHOLARSHIP PLEDGES.

Program 2

Expenses: $53,350 Revenue: $2,600

AGRICULTURE IN THE CLASSROOM - THIS INITIATIVE BEGAN WORKING DIRECTLY IN THREE PILOT HIGH SCHOOLS IN THE AREA IMPLEMENTING THREE VARIOUS EDUCATION INITIATIVES: AN ESSAY CONTEST, MINI-GRANTS TO...

AGRICULTURE IN THE CLASSROOM - THIS INITIATIVE BEGAN WORKING DIRECTLY IN THREE PILOT HIGH SCHOOLS IN THE AREA IMPLEMENTING THREE VARIOUS EDUCATION INITIATIVES: AN ESSAY CONTEST, MINI-GRANTS TO CLASSROOMS AND A SPEAKERS CIRCUIT WHICH BRINGS PROFESSIONALS TO THE CLASSROOM FOR STUDENTS TO ENGAGE IN HANDS ON AGRICULTURAL LEARNING.

Program 3

Expenses: $6,490 Revenue: $2,900

GROWER EDUCATION - THE FOUNDATION OFFERS A HOST OF EDUCATIONAL WORKSHOPS, SEMINARS, PESTICIDE CERTIFICATIONS, FIRST AID TRAININGS, FIELD DAY, LECTURES AND WORKSHOPS THAT BENEFITS THE 300 PLUS GROWERS THROUGHOUT WASHINGTON. FIRST AID CLASSES WERE PROVIDED AS A SERVICE FOR THOSE GROWERS N THE POTATO GROWING AREAS OF WASHINGTON/OREGON. BOTH ENGLISH AND SPANISH CLASSES WERE OFFERED AND A TOTAL OF 54 INDIVIDUALS FROM LOCAL FARMS REGISTERED AND WERE CERTIFIED IN THE FIRST AID, CPR/AED TRAINING.

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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 $96,643

Program Service Revenue $70,233

Investment Income $211,092

Other Revenue $0

TOTAL REVENUE $377,968

Expense Breakdown

Grants Paid $21,500

Salaries & Benefits $87,952

Fundraising Expenses $10,959

Program Expenses $136,988

Other Expenses $54,936

TOTAL EXPENSES $164,388

Year-over-Year Comparison

	2024	2023	Change
Revenue	$377,968	$225,492	+0.7%
Expenses	$164,388	$164,613	0.0%
Net Income	$213,580	$60,879	+2.5%

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

Total Directors

Key Employees

$81,332

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLEE BALCOM	EXECUTIVE DIRECTOR	40.00	Key Emp Highest	$81,332	$0	$81,332
BRANDON BROOK	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BEN COX	TREASURER	1.00	Officer Director	$0	$0	$0
KEVIN COCHRANE	SECRETARY	1.00	Officer Director	$0	$0	$0
MIKE DODDS	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE DRESS	DIRECTOR	1.00	Director	$0	$0	$0
JAKE HENKE	DIRECTOR	1.00	Director	$0	$0	$0
DALE LATHIM	DIRECTOR	1.00	Director	$0	$0	$0
HEIDI SHATTUCK	DIRECTOR	1.00	Director	$0	$0	$0
BRANDY TUCKER	DIRECTOR	1.00	Director	$0	$0	$0
DAVINA WARD-PINK	DIRECTOR	1.00	Director	$0	$0	$0
TIM WATERS	PRESIDENT	1.00	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	$377,968	$164,388	$2,484,137	$213,580
2023	$225,492	$164,613	$2,268,765	$60,879
2022	$191,064	$138,194	$2,002,668	$52,870
2021	$285,537	$132,836	$2,314,746	$152,701
2020	$203,260	$150,406	$2,112,757	$52,854
2019	$232,965	$166,274	$1,949,276	$66,691
2018	$241,933	$167,446	$1,676,518	$74,487