Life Science Washington

Nonprofit profile at a glance

EIN
911453398
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2064569567
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,325,676
Expenses
$2,903,655
Assets
$5,121,154
Liabilities
$3,290,895

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

Leadership & pay

51 people listed

Executive titles in this filing

  • MARC CUMMINGS (PRESIDENT & CEO/SECRETARY)

Highest reported compensation

  • MARC CUMMINGS (PRESIDENT & CEO/SECRETARY): $394,481 total reported compensation
  • AMANDA TRAN (VP, MEMBERSHIP SERVICES): $174,351 total reported compensation
  • KATHLEEN POSTON (VP, FINANCE & ADMINISTRATION): $168,737 total reported compensation

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

Overview

Mission

Life science Washington is a non-profit trade and professional association dedicated to promoting innovation and responsible growth in the life sciences and biomedical industries in the state of Washington. Promotion and education are primarily in the form of newsletters, special events, and lobbying.

What it reported doing in 2024

Life science Washington hosts annual meetings for both members and non-members in fields related to life sciences. The association promotes continual growth by hosting networking and professional development events.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 79
  • Accountability: 71
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 4th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • 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; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 97.6%; rating input score 98; 27th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.7%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 1.76; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 34.3%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 41 of 42 board members independent · 3 of 9 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $394K · 51 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $174K reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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.
  • 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 — Accountability: Governance controls: 5 of 8 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.