Wa Therapy Fund Foundation

Nonprofit profile at a glance

EIN
852607648
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Seattle, WA, USA
Phone
2532054234
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$1,027,575
Expenses
$843,766
Assets
$821,970
Liabilities
$2,026

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

Leadership & pay

20 people listed

Executive titles in this filing

  • Ashley McGirt (CEO/President)
  • Deaunte Damper (Vice President)

Highest reported compensation

  • Ashley McGirt (CEO/President): $122,400 total reported compensation
  • Huston Adair Jr (Director): $2,800 total reported compensation
  • Deaunte Damper (Vice President): $2,750 total reported compensation

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

Overview

Mission

To eliminate barriers to healing within Black communities that have been historically excluded from care.

What it reported doing in 2024

Scholarships & Youth Leadership: Therapy Fund Foundation awards scholarships to aspiring clinicians who have historically been excluded and face financial barriers while supporting youth ambassadors in developing mental health leadership skills. These investments expand the pipeline of diverse providers and uplift the next generation. In the reporting year, the Foundation awarded 12 scholarships and supported 15 youth leaders.

Operating model

Revenue model
Grant-funded. 65% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 88
  • Accountability: 87
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.7%; rating input score 64
  • Program expense ratio: 77.2%; rating input score 77
  • Fundraising efficiency: $24.89 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.4%; rating input score 97; 45th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.9%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 26.9% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 31.8% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 39.7% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 63.7% of revenue deployed · 77.2% of spending went to programs
  • Governance: 19 of 20 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $651K in reported program spending
  • Leadership: top reported pay $122K · 20 people listed
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 23/100.