The Valhalla Fund

Nonprofit profile at a glance

EIN
921700871
IRS 990 coverage
2023–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Monroe, WA, United States
Phone
+1 425-445-3507
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Lung Diseases Research

Official website

Reported finances

Revenue
$119,578
Expenses
$131,757
Assets
$104,025
Liabilities
$9,306

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

Leadership & pay

5 people listed

Executive titles in this filing

  • CHRISTIAN JOHANNESON (CEO)

Highest reported compensation

  • CHRISTIAN JOHANNESON (CEO): $18,342 total reported compensation

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

Overview

Mission

The Valhalla Fund champions two commitments: helping children thrive worldwide through access to health, education, and opportunity, and fighting pulmonary fibrosis by advancing research, awareness, and support for families facing lung disease. Two missions with one purpose: creating a world where every breath—and every child—has a chance to flourish.

What it reported doing in 2024

Valhalla Vessels - The Valhalla Fund offers a unique experience to visitors and locals alike. Whether you're looking to explore the beauty of Puget Sound, or are seeking an unforgettable fishing adventure, their team is eager to take you there. They operate on a donation-based system, making sure that everyone has access to the serenity and excitement of the water.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 86% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 94
  • Accountability: 51
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 83.3%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 17th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.2%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 55.7% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: -40.7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -8.7% per year; rating input score 0; 7th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 92.2% of revenue deployed · 83.3% of spending went to programs
  • Governance: 3 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $110K in reported program spending
  • Leadership: top reported pay $18K · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.