NORWEGIAN COMMERCIAL CLUB

EIN: 916058148 Community Improvement

SEATTLE, WA

Total Revenue
$59,208
Total Expenses
$61,128
Total Assets
$22,805
Net Assets
$22,805
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1932
Legal Domicile
WA
Principal Officer
KATRINA SVASAND
Phone
2063971245
Tax Period
2023-09-01 to 2024-08-31

NORWEGIAN COMMERCIAL CLUB, founded in 1932, is a micro nonprofit in the Community Improvement sector that reported $59K in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year.

Mission

TO PROMOTE AND ENCOURAGE CIVIC AND COMMERCIAL ACTIVITY TO THE END THAT BENEFITS THEREFROM MAY ACCURE TO THE STATE OF WASHINGTON, CITY OF SEATTLE, AND THE PACIFIC NORTHWEST; TO FOSTER TRADE AND COMMERCE AMONG ITS MEMBERS; TO PROMOTE AND ELEVATE BUSINESS STANDARDS AND PROFESSIONAL ETHICS; TO OFFER INVITATIONS FOR OTHERS TO SEEK THIS STATE AND COMMUNITY AS THEIR FIELD OF COMMERCIAL ENDEAVOR AND TO EXTEND HOSPITALITY TO VISTORS AND NEW ARRIVALS; TO ASSIST IN AND ENCOURAGE THE BUILDING OF NEW INDUSTRIES AND THE EXPANSION OF OLD; TO ADVOCATE GOOD CITIZENSHIP AND TO ENCOURAGE INTEREST AND ACTIVE PARTICIPATION BY ITS MEMBERS IN PUBLIC AFFAIRS; TO PROVIDE FACILITIES AND ACCOMMODATIONS FOR BUSINESS MEETINGS AND SOCIAL GATHERINGS; TO ESTABLISH AND MAINTAIN A SOCIAL AND BUSINESS CLUB FOR NORWEGIANS, NORWEGIAN AMERICANS AND OTHERS, TO PROVIDE SUCH QUARTERS, MEETING PLACES AND FACILITIES AS WILL SERVE THE PURPOSES FOR WHICH THIS NORWEGIAN COMMERCIAL CLUB IS ORGANIZED.

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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 $6,500
Program Service Revenue $27,135
Investment Income $10
Other Revenue $25,563
TOTAL REVENUE $59,208

Expense Breakdown

Grants Paid $24,100
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $61,128
Other Expenses $37,028
TOTAL EXPENSES $61,128

Year-over-Year Comparison

2023 2022 Change
Revenue $59,208 $72,305 -0.2%
Expenses $61,128 $70,570 -0.1%
Net Income $-1,920 $1,735 -2.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
14
Employees
N/A
Volunteers
14

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
10
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VICTORIA SANGREY HUNTER TRUSTEE 1.00
Director
$0 $0 $0
KNUT LANDBOE TRUSTEE 1.00
Director
$0 $0 $0
ROBERT LOE TRUSTEE 1.00
Director
$0 $0 $0
KRIS TEMPLIN TRUSTEE 1.00
Director
$0 $0 $0
ANNE-LISE BERGER TRUSTEE 1.00
Officer
$0 $0 $0
INGRID HAUGAARD MEMBERSHIP S 1.00
Officer
$0 $0 $0
DEBBI LARSON TREASURER 1.00
Officer
$0 $0 $0
CORY NELSON TRUSTEE 1.00
Officer
$0 $0 $0
DAN NYE CO-SECRETARY 1.00
Officer
$0 $0 $0
ERIK PHIL TRUSTEE 1.00
Officer
$0 $0 $0
LISA SJONG CO-SECRETARY 1.00
Officer
$0 $0 $0
IVAN SVASAND V. PRESIDENT 1.00
Officer
$0 $0 $0
KATRINA SVASAND PRESIDENT 1.00
Officer
$0 $0 $0
BRIAN WESTERMAN TRUSTEE 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 $59,208 $61,128 $22,805 $-1,920
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