SKAGIT REGIONAL HEALTH FOUNDATION (EIN 943078550) - 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

1988

Legal Domicile

Principal Officer

MARY JUNE CURTIS

Phone

3604282140

Tax Period

2024-01-01 to 2024-12-31

SKAGIT REGIONAL HEALTH FOUNDATION, founded in 1988, is a small nonprofit in the Health Care sector that reported $895K in total revenue in fiscal year 2024. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $3.4M exceeded revenue, resulting in a 278% operating deficit.

Mission

TO RAISE, MANAGE AND DISTRIBUTE FUNDS TO ASSURE THE CONTINUED AVAILABILITY OF QUALITY HEALTH CARE SERVICES AND PROGRAMS THROUGH SKAGIT VALLEY HOSPITAL. THE FOUNDATION WILL FOSTER COMMUNITY AWARENESS OF, AND SUPPORT FOR, SKAGIT VALLEY HOSPITAL THROUGH THE INVOLVEMENT OF THE PEOPLE IT SERVES.

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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 $805,688

Program Service Revenue $0

Investment Income $175,466

Other Revenue $-85,802

TOTAL REVENUE $895,352

Expense Breakdown

Grants Paid $3,283,695

Salaries & Benefits $0

Fundraising Expenses $9,784

Program Expenses $3,283,695

Other Expenses $102,600

TOTAL EXPENSES $3,386,295

Year-over-Year Comparison

	2024	2023	Change
Revenue	$895,352	$4,072,318	-0.8%
Expenses	$3,386,295	$1,453,215	+1.3%
Net Income	$-2,490,943	$2,619,103	-2.0%

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

200

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

$159,972

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ZACH BARBORINAS	PRESIDENT	2.00	Officer Director	$0	$0	$0
KATIE BIRINGER	TRUSTEE	1.00	Director	$0	$0	$0
LESHA BOUCHER	TRUSTEE	1.00	Director	$0	$0	$0
TRAVIS COULTER	SECRETARY	1.00	Officer Director	$0	$0	$0
VIRY DELGADO	TRUSTEE	1.00	Director	$0	$0	$0
BOBBI FISHER AHRENIUS	TRUSTEE	1.00	Director	$0	$0	$0
LAURA FISHER	TRUSTEE/VP PLANNED GIVING	1.00	Officer Director	$0	$0	$0
BRETT FONTES	TRUSTEE	1.00	Director	$0	$0	$0
DUANE HENSON	TRUSTEE	1.00	Director	$0	$0	$0
ALICIA HUSCHKA	ASSISTANT TREASURER	1.00	Director	$0	$0	$0
BRIAN IVIE	SKAGIT REGIONAL CEO	0.50	Director	$0	$0	$0
KATIE JUNGQUIST	VP OF CANCER CARE	2.00	Officer Director	$0	$0	$0
ALDI KLLOGJERI	TREASURER	2.00	Officer Director	$0	$0	$0
MICHELLE KNUTZEN	TRUSTEE	1.00	Director	$0	$0	$0
MIKE MARKEN	TRUSTEE	1.00	Director	$0	$0	$0
EVELYN MORSE	TRUSTEE	1.00	Director	$0	$0	$0
HOLLY NIELSEN	TRUSTEE	1.00	Director	$0	$0	$0
SANDRA NOOTENBOOM	TRUSTEE	1.00	Director	$0	$0	$0
LARRY OTOS	TRUSTEE	1.00	Director	$0	$0	$0
SCOTT RAILTON	TRUSTEE	1.00	Director	$0	$0	$0
AARON ROBBINS	TRUSTEE	1.00	Director	$0	$0	$0
GARY SHAND	PHD #1 REPRESENTATIVE	1.00	Director	$0	$0	$0
ANGELA SPEER USYK	TRUSTEE	1.00	Director	$0	$0	$0
BRENT THOMPSON	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KRIS WOLLAN	TRUSTEE	1.00	Director	$0	$0	$0
LINDA FRIZZELL	EXECUTIVE DIRECTOR	40.00	Officer	$0	$0	$159,972

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	$895,352	$3,386,295	$3,388,760	$-2,490,943
2023	$4,072,318	$1,453,215	$5,674,778	$2,619,103
2022	$748,703	$556,123	$2,794,089	$192,580
2021	$607,753	$182,144	$2,988,387	$425,609
2020	$1,617,624	$1,167,469	$2,528,156	$450,155
2019	$917,389	$1,122,363	$1,973,046	$-204,974
2018	$847,279	$460,438	$2,076,801	$386,841

SKAGIT REGIONAL HEALTH FOUNDATION