WASHINGTON STATE MEDICAL ASSOCIATI… - Form 990 Financial Data

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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

1966

Legal Domicile

Principal Officer

MIKA SINANAN MD

Phone

2064419762

Tax Period

2024-01-01 to 2024-12-31

WASHINGTON STATE MEDICAL ASSOCIATION FOUNDATION FOR HEALTH CARE IMPROVEMENT, founded in 1966, is a small nonprofit in the Health Care sector that reported $293K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $264K left a modest 10% surplus.

Mission

THE WSMA FOUNDATION BELIEVES IN A FUTURE WHERE PHYSICIANS ARE HEALTHY AND FULFILLED; WHERE PHYSICIANS, THE HEALTH CARE TEAM, AND PATIENTS ARE PARTNERS; AND WHERE ALL WASHINGTONIANS EXPERIENCE QUALITY CARE THAT ALIGNS WITH THEIR NEEDS, GOALS, AND VALUES.

Program Service Accomplishments

Program 1

Expenses: $139,156

THE WASHINGTON STATE MEDICAL FOUNDATION FOR HEALTH CARE IMPROVEMENT CREATES TRANSFORMATIONAL HEALTH CARE CHANGE AT ALL LEVELS INDIVIDUAL, ORGANIZATIONAL, AND STATEWIDE. WE BELIEVE IN A FUTURE WHERE PHYSICIANS ARE HEALTHY AND FULFILLED WHERE PHYSICIANS, THE HEALTH CARE TEAM, AND PATIENTS ARE PARTNERS AND WHERE ALL WASHINGTONIANS EXPERIENCE QUALITY CARE THAT ALIGNS WITH THEIR NEEDS, GOALS, AND VALUES.

Program 2

Expenses: $11,277

THE WASHINGTON SERIOUS ILLNESS CARE COALITION IS A BROAD-BASED CROSS-SECTION OF INDIVIDUALS AND ORGANIZATIONS ACROSS THE STATE INTERESTED IN IMPROVING CARE AT THE END OF LIFE. THE PROGRAM BEGAN IN...

THE WASHINGTON SERIOUS ILLNESS CARE COALITION IS A BROAD-BASED CROSS-SECTION OF INDIVIDUALS AND ORGANIZATIONS ACROSS THE STATE INTERESTED IN IMPROVING CARE AT THE END OF LIFE. THE PROGRAM BEGAN IN 1997 TO PROMOTE CARING CONVERSATIONS ABOUT LIVING AND DYING WELL WITHIN ALL COMMUNITIES THROUGH THE ANNUAL MEETING AND SUPPORT FOR STATE POLST PARADIGM PROGRAM.

Program 3

Expenses: $355

THE WSMA FOUNDATION CREATED THE WSMA FOUNDATION SCHOLARSHIP AND DIVERSITY ADVANCEMENT FUND, AN ENDOWMENT FUND CREATED TO BUILD A MORE DIVERSE PHYSICIAN POPULATION IN WASHINGTON STATE BY SUPPORTING...

THE WSMA FOUNDATION CREATED THE WSMA FOUNDATION SCHOLARSHIP AND DIVERSITY ADVANCEMENT FUND, AN ENDOWMENT FUND CREATED TO BUILD A MORE DIVERSE PHYSICIAN POPULATION IN WASHINGTON STATE BY SUPPORTING MEDICAL STUDENTS WHO ARE UNDERREPRESENTED IN MEDICINE.

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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 $194,848

Program Service Revenue $0

Investment Income $98,356

Other Revenue $0

TOTAL REVENUE $293,204

Expense Breakdown

Grants Paid $5,813

Salaries & Benefits $0

Fundraising Expenses $91,901

Program Expenses $150,788

Other Expenses $166,025

TOTAL EXPENSES $263,739

Year-over-Year Comparison

	2024	2023	Change
Revenue	$293,204	$231,905	+0.3%
Expenses	$263,739	$788,642	-0.7%
Net Income	$29,465	$-556,737	-1.1%

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

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

N/A

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

$376,892

Total Directors

$381,939

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HANSCOM JENNIFER	CEO	1.00	Officer Director	$0	$21,551	$376,892
SEPPI BRIAN MD	PRESIDENT THRU 11/24	1.00	Officer Director	$0	$0	$0
SINANAN MIKA MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
HORWITCH CARRIE MD	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KIRKEGAARD SHEILA	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
DOLL KEMI MD	DIRECTOR THRU 11/24	1.00	Director	$0	$0	$0
FARROKHI FARROKH MD	DIRECTOR	1.00	Director	$0	$0	$0
NAYAK BINDU MD	DIRECTOR	1.00	Director	$0	$0	$5,047
SCHIEBEL STEVE MD	DIRECTOR THRU 11/24	1.00	Director	$0	$0	$0
SHARPE SHEREE MD	DIRECTOR	1.00	Director	$0	$0	$0
TALLMAN SHEELA	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAMS ESTELL MD	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	$293,204	$263,739	$2,024,521	$29,465
2023	$231,905	$788,642	$1,806,178	$-556,737
2022	$810,920	$616,698	$2,227,253	$194,222
2021	$391,129	$934,446	$2,209,555	$-543,317
2020	$747,537	$776,972	$2,635,586	$-29,435
2019	$1,026,206	$894,029	$2,632,182	$132,177
2018	$992,854	$767,358	$2,434,002	$225,496

WASHINGTON STATE MEDICAL ASSOCIATION FOUNDATION FOR HEALTH CARE IMPROVEMENT