The Thetis Foundation

Nonprofit profile at a glance

EIN
911126137
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Sumas, WA, USA
Phone
6048503052
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$494,537
Expenses
$163,407
Assets
$3,346,725
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • David Crumbo (Vice-President)
  • Kent Lottis (President)

People named in this filing

  • David Crumbo (Vice-President)
  • Kent Lottis (President)
  • David Cowan (Treasurer)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support the purposes of North America Indian Mission Inc. a non-profit religious and educational corporation of the state of Washington. The Thetis Foundation supplies grant funding for specific activities and projects.

What it reported doing in 2024

Grants to assist NAIM Inc. and operating expenses to steward net assets invested for grant purposes.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 81% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33%; rating input score 33
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 67%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 20.48; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 11.5% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 33% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $163K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • High — Growth: Program expense growth scored 0/100.