Independent Colleges of Washington

Nonprofit profile at a glance

EIN
910614877
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2066234494
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Higher Education Institutions

Official website

Reported finances

Revenue
$2,873,827
Expenses
$2,858,091
Assets
$4,366,897
Liabilities
$1,614,363

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

Leadership & pay

37 people listed

Executive titles in this filing

  • TERRI STANDISH-KUON (PRESIDENT & CEO)

Highest reported compensation

  • TERRI STANDISH-KUON (PRESIDENT & CEO): $381,718 total reported compensation

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

Overview

Mission

Independent colleges of Washington is the leading advocate for not-for-profit, private campuses in Washington state.

What it reported doing in 2024

Independent colleges of Washington (icw) enables students to pursue their college aspirations, and Washington state to achieve its post-secondary attainment goal. In achieving its vision and purpose, icw believes it will contribute to the long-term health and vitality of an economically robust and socially just Washington. The work of the association reinforces the importance of higher education in Washington to ensure the public commitment remains strong.

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 49% for direct work, and 51% for 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 83
  • Accountability: 98
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.1%; rating input score 87
  • Program expense ratio: 84%; rating input score 84
  • Fundraising efficiency: $36.57 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.2%; rating input score 93; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.1%; rating input score 97; 27th percentile among comparable filings
  • Governance controls: 8 of 8 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: 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: 0.5%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 1.53; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 87.1% of revenue deployed · 84% of spending went to programs
  • Governance: 34 of 35 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $382K · 37 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 8 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: 19 filed money-flow records
  • Related organizations: 9 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.

  • Moderate — Sustainability: Operating margin scored 36/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.