Skagit Valley College Foundation

Nonprofit profile at a glance

EIN
911012915
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Mount Vernon, WA, USA
Phone
3604163229
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$4,366,714
Expenses
$3,486,667
Assets
$30,860,302
Liabilities
$490,935

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Vhari Rust-Clark (President)
  • John Sternlicht (Vice-President)
  • Kathleen Petrzelka (Executive Director)

Highest reported compensation

  • Kathleen Petrzelka (Executive Director): $133,615 total reported compensation

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

Overview

Mission

Secure donations to enhance education at Skagit Valley College through scholarships, grants, and institutional support.

What it reported doing in 2024

$1,024,098 in academic scholarships were awarded to Skagit Valley College students for the 2024/2025 school year. $714,586 (includes $8,006 of in-kind services) in program assistance grants were awarded to Skagit Valley College programs for the 2024/2025 school year.Skagit Valley College provides academic transfer and professional technical 2-year degrees and certificates in over 25 fields of study; many of these degrees transfer to most Washington State 4-year colleges and universities. Additionally, Skagit Valley College provides 4-year bachelor's degrees in Applied Science (BAS), Advanced Manufacturing and Design, Early Childhood Education, Environmental Conservation, Applied Management, and Computer Science. For students looking to become college-ready, SVC offers Adult Basic Education courses and prep classes in math, English, English Language Acquisition, GED and more.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 62% of its reported program spending out as 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. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.5%; rating input score 78
  • Program expense ratio: 85.6%; rating input score 86
  • Fundraising efficiency: $20.76 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 20.2%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 8.85; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 9.8% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 77.5% of revenue deployed · 85.6% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $134K · 15 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.