INSTITUTE FOR WORKFORCE DEVELOPMENT

EIN: 912140837 501(c)(3) Education

OLYMPIA, WA

Total Revenue
$1,358,753
Total Expenses
$691,506
Total Assets
$1,202,510
Net Assets
$1,170,084
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
WA
Principal Officer
KRIS JOHNSON
Phone
3609431600
Tax Period
2023-10-01 to 2024-09-30

INSTITUTE FOR WORKFORCE DEVELOPMENT, founded in 2001, is a community nonprofit in the Education sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 127% from the prior year, signaling strong growth momentum. The organization ran a surplus of $667K, a strong 49% operating margin.

Mission

PROVIDING THE BUSINESS COMMUNITY WITH TOOLS AND RESOURCES TO BUILD A STRONG WORKFORCE.

Program Service Accomplishments

Program 1
Expenses: $533,779 Revenue: $350,170

THE INSTITUTE CONTINUED TO WORK WITH THE STATE'S 34 COMMUNITY AND TECHNICAL COLLEGES, ACTING AS A LIAISON BETWEEN THE COLLEGES AND THE STATE'S BUSINESS COMMUNITY. THE INSTITUTE CONDUCTED INTERVIEWS...

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THE INSTITUTE CONTINUED TO WORK WITH THE STATE'S 34 COMMUNITY AND TECHNICAL COLLEGES, ACTING AS A LIAISON BETWEEN THE COLLEGES AND THE STATE'S BUSINESS COMMUNITY. THE INSTITUTE CONDUCTED INTERVIEWS, SITE VISITS AND GROUP DISCUSSIONS WITH EDUCATORS AND BUSINESS EXECUTIVES IN ORDER TO MEET THE STATE'S NEED FOR HIGHLY TRAINED AND SKILLED WORKERS, INCLUDING FULFILLMENT OF TRAINING WORKERS IN THE MANUFACTURING CLUSTER.

Program 2
Expenses: $45,390

COMMUNITY INVOLVEMENT AND STUDENT SCHOLARSHIPS TO HELP FURTHER THE ENTITY'S EXEMPT PURPOSE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,008,583
Program Service Revenue $350,170
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,358,753

Expense Breakdown

Grants Paid $45,390
Salaries & Benefits $145,099
Fundraising Expenses $0
Program Expenses $579,169
Other Expenses $501,017
TOTAL EXPENSES $691,506

Year-over-Year Comparison

2023 2022 Change
Revenue $1,358,753 $598,796 +1.3%
Expenses $691,506 $684,717 +0.0%
Net Income $667,247 $-85,921 -8.8%
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

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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
18
Employees
N/A
Volunteers
21

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
2
$828,603
Total Directors
19
$828,603
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTOFER JOHNSON SECRETARY-TREASURER 2.00
Officer Director
$0 $158,564 $828,603
TIM SCHAUER CHAIR 1.00
Officer Director
$0 $0 $0
ALISHA BENSON DIRECTOR 1.00
Director
$0 $0 $0
TIMOTHY HOWELL DIRECTOR 1.00
Director
$0 $0 $0
CLIF MCKENZIE DIRECTOR 1.00
Director
$0 $0 $0
FRAN ERSKINE DIRECTOR 1.00
Director
$0 $0 $0
TOM SWANSON DIRECTOR 1.00
Director
$0 $0 $0
JAN YOSHIWARA DIRECTOR 1.00
Director
$0 $0 $0
JESICA KISER DIRECTOR 1.00
Director
$0 $0 $0
JOHN MCDONAGH DIRECTOR 1.00
Director
$0 $0 $0
MIKE MARSH DIRECTOR 1.00
Director
$0 $0 $0
KRISTIN KEMAK DIRECTOR 1.00
Director
$0 $0 $0
LORI MATTSON DIRECTOR 1.00
Director
$0 $0 $0
MIKE SCHWENK DIRECTOR 1.00
Director
$0 $0 $0
PAULA LINNEN DIRECTOR 1.00
Director
$0 $0 $0
STEVE MULLIN DIRECTOR 1.00
Director
$0 $0 $0
STEVE WRIGHT DIRECTOR 1.00
Director
$0 $0 $0
CHRISTINE JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
KEVIN PERSON DIRECTOR 1.00
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 $1,358,753 $691,506 $1,202,510 $667,247
2023 $598,796 $684,717 $502,837 $-85,921
2022 $807,985 $558,718 $638,758 $249,267
2021 $588,266 $503,984 $339,491 $84,282
2020 $636,301 $488,115 $255,208 $148,186
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