FRIENDS OF KEXP (EIN 912061474) - 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

2001

Legal Domicile

Principal Officer

ETHAN RAUP

Phone

2065205800

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF KEXP, founded in 2001, is a mid-sized nonprofit in the Youth Development sector that reported $15.6M in total revenue in fiscal year 2024. Expenses of $19.5M exceeded revenue, resulting in a 24% operating deficit.

Mission

KEXP'S MISSION IS TO ENRICH YOUR LIFE BY CHAMPIONING MUSIC AND DISCOVERY.

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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 $13,854,758

Program Service Revenue $21,600

Investment Income $406,836

Other Revenue $1,357,822

TOTAL REVENUE $15,641,016

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,317,161

Fundraising Expenses $4,804,629

Program Expenses $13,039,172

Other Expenses $7,152,924

TOTAL EXPENSES $19,470,085

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,641,016	$14,674,467	+0.1%
Expenses	$19,470,085	$17,376,011	+0.1%
Net Income	$-3,829,069	$-2,701,544	+0.4%

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

155

Volunteers

275

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

$808,372

Total Directors

Key Employees

$1,150,640

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEGAN JASPER	CHAIR	8.00	Officer Director	$0	$0	$0
SCOTT REDMAN	VICE CHAIR	7.00	Officer Director	$0	$0	$0
CINDY BOLTON	TREASURER	7.00	Officer Director	$0	$0	$0
ERIKA SANCHEZ	SECRETARY	7.00	Officer Director	$0	$0	$0
EMILY ANDERSON	DIRECTOR	5.00	Director	$0	$0	$0
NABIL AYERS	DIRECTOR	5.00	Director	$0	$0	$0
JERRY CHIANG	DIRECTOR	7.00	Director	$0	$0	$0
ALEJANDRO CHOUZA	DIRECTOR	5.00	Director	$0	$0	$0
ZOE CORNELI	DIRECTOR	5.00	Director	$0	$0	$0
WILL DAUGHERTY	DIRECTOR	7.00	Director	$0	$0	$0
KIRT DEBIQUE	DIRECTOR	5.00	Director	$0	$0	$0
JON KERTZER	DIRECTOR	5.00	Director	$0	$0	$0
JORDON KURLAND	DIRECTOR	5.00	Director	$0	$0	$0
OSCAR MRAZ	DIRECTOR	5.00	Director	$0	$0	$0
ERIK NORDSTROM	DIRECTOR	5.00	Director	$0	$0	$0
JEFF SEELY	DIRECTOR	5.00	Director	$0	$0	$0
JYOTI SHUKLA	DIRECTOR	5.00	Director	$0	$0	$0
JILL SINGH	DIRECTOR	5.00	Director	$0	$0	$0
HEATHER SNAVELY	DIRECTOR	7.00	Director	$0	$0	$0
LISA A THOMAS	DIRECTOR	7.00	Director	$0	$0	$0
NICOLE VANDENBERG	DIRECTOR	7.00	Director	$0	$0	$0
MIKHAEL MEI WILLIAMS	DIRECTOR	5.00	Director	$0	$0	$0
NANCY WARD	DIRECTOR	5.00	Director	$0	$0	$0
ADAM ZACKS	DIRECTOR	5.00	Director	$0	$0	$0
ETHAN RAUP	CHIEF EXECUTIVE OFFICER	40.00	Officer	$233,752	$233,752	$467,504
REBECCA DENK	CHIEF FINANCIAL OFFICER	40.00	Officer	$170,434	$170,434	$340,868
RAMBERTO TORRUELLA	CHIEF TECHNOLOGY OFFICER	40.00	Key Emp	$233,719	$233,719	$467,438
CHRISTOPHER KELLOGG	CHIEF PROGRAMMING OFFICER	40.00	Key Emp	$173,344	$173,344	$346,688
THOMAS SMITH	DIRECTOR OF STRATEGIC REL & DEV	40.00	Key Emp	$168,257	$168,257	$336,514
JOHN RICHARDS	DIRECTOR OF PROGRM. & HOST	40.00	Highest	$219,799	$219,799	$439,598
CHERYL WATERS	CREATIVE DIRECTOR, L.P. & HOST	40.00	Highest	$167,048	$167,048	$334,096
ALEXANDER VAN BUREN	DIRECTOR OF IT OPERATIONS	40.00	Highest	$161,902	$161,902	$323,804
CYRUS DESPRES	DIRECTOR OF PLANNING & BUS. INT.	40.00	Highest	$160,637	$160,637	$321,274
ROBERT BENDER	ASSOCIATE DIRECTOR OF BUS. SUP.	40.00	Highest	$150,788	$150,788	$301,576

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	$15,641,016	$19,470,085	$31,148,305	$-3,829,069
2023	$14,674,467	$17,376,011	$34,562,073	$-2,701,544
2022	$13,872,717	$15,436,168	$35,330,554	$-1,563,451
2021	$14,424,316	$11,625,171	$29,661,098	$2,799,145
2020	$11,899,114	$11,931,033	$27,675,072	$-31,919
2019	$10,585,311	$11,606,223	$27,409,336	$-1,020,912
2018	$9,618,994	$10,565,370	$27,497,735	$-946,376

FRIENDS OF KEXP