Community Foundation of Snohomish County

Nonprofit profile at a glance

EIN
943188703
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Everett, WA, USA
Phone
4252124056
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$9,373,705
Expenses
$13,216,297
Assets
$55,744,264
Liabilities
$3,939,195

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • Karri Matau (President & CEO)
  • Angelique Leone (Vice President)

Highest reported compensation

  • Karri Matau (President & CEO): $179,683 total reported compensation
  • Angelique Leone (Vice President): $147,599 total reported compensation
  • John Sese (Finance Dir.): $121,366 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Community Foundation of Snohomish County (the Foundation) is a nonprofit, tax-exempt organization incorporated under the laws of the State of Washington. The Foundation serves as a community foundation, supporting a broad spectrum of philanthropic interests, including arts and culture, health and welfare, education, human services, the environment, and community development. The Foundation's mission is to strengthen community and thoughtfully change lives in greater Everett and Snohomish County. It carries out this mission by building permanent charitable funds, connecting donors to charitable causes, making effective grants, and providing leadership to address community issues. The Foundation fulfills multiple rolesas a funder, partner, and catalyst for changeand is committed to advancing equity by dismantling systemic racism and oppressive practices within both its organization and the broader community.

What it reported doing in 2024

To provide grants to non-profit organizations in Snohomish County to support fields of education, arts, and culture, environment, health and wellness and human services. Community foundation donors enjoy the convenience of doing all their charitable giving in one place. Donors are able to give a variety of assets to create charitable funds now or in the future through their estates. Funds may be permanently endowed or the total balance may be granted out over a specified period of time. Donors may recommend grant recipients or allow grants to be awarded at the discretion of the community foundation.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.2%; rating input score 94
  • Fundraising efficiency: $41.73 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 90.3%; rating input score 90; 26th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -41%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 4.22; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 21% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 14.6% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 13.8% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $12.5M in reported program spending
  • Leadership: top reported pay $180K · 17 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 140 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 3/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.