Georgetown Steam Plant Community Development Authority

Nonprofit profile at a glance

EIN
844207491
IRS 990 coverage
2023–2025
Forms available
Form 990 2025
Location
Seattle, WA, USA
Phone
2068903283
Rating
40
Verdict
MIXED
Rating confidence
Moderate
Sector
Science and Technology Museums

Reported finances

Revenue
$211,257
Expenses
$327,478
Assets
$77,484
Liabilities
$446,961

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • Samuel Farraziano (Treasurer)
  • Mike Haynes (Director)
  • Grace Leong (Director)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Stewarding the historic Georgetown Steam Plant into a a community gathering and event space and creating immersive history experiences, a center for science, history, technology, engineering, art and math while retrofitting the building itself.

What it reported doing in 2025

Over the year we were able to provide a community gathering space as well as a venue for artistic presentations including live performances and exhibitions.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 82
  • Accountability: 0
  • Sustainability: 14
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.1%; rating input score 44
  • Program expense ratio: 28.3%; rating input score 28
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -55%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 5.77; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -25.6% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -54.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 21.3% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 44.1% of revenue deployed · 28.3% of spending went to programs
  • Governance: 0 of 4 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $93K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.