Fw Paec Qalicb

Nonprofit profile at a glance

EIN
821610677
IRS 990 coverage
2021–2023
Forms available
Form 990 2023
Location
Federal Way, WA, USA
Phone
2538352521
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$365,260
Expenses
$1,258,532
Assets
$34,606,244
Liabilities
$9,310,000

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • STEVE GROOM (DIRECTOR OF FINANCE)
  • MARY GATES (SECRETARY)
  • MIKE PARK (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation is organized and must be operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of the city of federal way, a municipal corporation of the state of Washington ("city of federal way"), which is exempt from federal income tax as an organization described in section 501(c)(1) of the internal revenue code of 1986, as amended.

What it reported doing in 2023

Fw paec qalicb is organized and operated exclusively for the benefit of the city of federal way, a Washington municipal corporation. Fw paec qalicb's purpose is to hold, improve, and lease real property to the city of federal way in furtherance of its nonprofit purpose.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 63
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.8%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -244.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 27.5; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.6% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.8% of spending went to programs
  • Governance: 2 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.