Perigee Fund

Nonprofit profile at a glance

EIN
830847498
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2066222294
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Mental Health Treatment F31 Psychiatric, Mental Health Hospital

Official website

Reported finances

Revenue
$23,892,754
Expenses
$22,522,280
Assets
$20,642,968
Liabilities
$2,177,263

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

Leadership & pay

9 people listed

Executive titles in this filing

  • LISA MENNET (PRESIDENT)
  • BECCA GRAVES (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BECCA GRAVES (EXECUTIVE DIRECTOR): $358,327 total reported compensation
  • MARY RENNEKAMP (TRUSTEE): $271,483 total reported compensation
  • ELIZABETH KRAUSE (DIRECTOR OF PROGRAMS): $267,012 total reported compensation

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

Overview

Mission

Our mission is to shift policies and systems to increasingly value and embed supports for caregiver and infant mental health in the places where families are during pregnancy and early childhood. Perigee is organized & operated as a supporting org to the seattle foundation.

What it reported doing in 2024

Supports for caregiver and infant mental health are embedded in policies and systems to equitably reach families where they are. A focus on improving services for diverse prenatal to 3 families, growing capacity to address intergenerational trauma, and policy advances that reduce families' poverty-related stress.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

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: 82
  • Transparency & Controls: 80
  • Accountability: 95
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.2%; rating input score 90
  • Program expense ratio: 95.1%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • 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: 99.8%; rating input score 100; 37th 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; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.7%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.92; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 88; 88th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 11th percentile among comparable filings
  • Asset growth: 20.9% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 90.2% of revenue deployed · 95.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $21.4M in reported program spending
  • Leadership: top reported pay $358K · 9 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $668K 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: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 64 filed money-flow records
  • Related organizations: 77 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 — Sustainability: Operating margin scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.