Craft3

Nonprofit profile at a glance

EIN
911662698
IRS 990 coverage
2013–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Seattle, WA, US
Phone
8882312170
Rating
85
Verdict
STRONG
Rating confidence
Standard
Sector
Small Business Development

Official website

Reported finances

Revenue
$53,607,388
Expenses
$38,316,373
Assets
$236,699,828
Liabilities
$139,180,680

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

Leadership & pay

30 people listed

Executive titles in this filing

  • BRUCE BROOKS (CHIEF EXECUTIVE OFFICER)
  • ADAM ZIMMERMAN (CHIEF EXECUTIVE OFFICER (UNTIL 3/25/24))

Highest reported compensation

  • BRUCE BROOKS (CHIEF EXECUTIVE OFFICER): $339,564 total reported compensation
  • SONYA LYNN (CHIEF OPERATING OFFICER (UNTIL 2/9/24)): $320,190 total reported compensation
  • ADAM ZIMMERMAN (CHIEF EXECUTIVE OFFICER (UNTIL 3/25/24)): $285,952 total reported compensation

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

Overview

Mission

Craft3 is a nonprofit community development organization that centers marginalized people in our work by investing in people, businesses, and communities across the Pacific Northwest. Craft3’s investments build household and business wealth, amplify community voice and agency, and create lasting networks of trust and mutual support.

What it reported doing in 2024

Lending activities: providing business support, marketing assistance and high risk non-bank credit to businesses and individuals in Washington and Oregon. Improving the physical and economic environments through reduction of waste, energy and chemical usage through mission based lending.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 59% for direct work, and 41% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.1%; rating input score 61
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: $224.29 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 50th 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; 77th 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: 28.5%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 6.18; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 57th percentile among comparable filings

Details

  • What they do: 6 programs and campaigns described on the official site · 3 operating locations identified
  • Where the money goes: 61.1% of revenue deployed · 83.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $32M in reported program spending
  • Leadership: top reported pay $340K · 30 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.3M reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 21 filed money-flow records
  • Related organizations: 14 filed related-organization links
  • 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: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.