Washington Aerospace

Nonprofit profile at a glance

EIN
461637389
IRS 990 coverage
2013–2016
Forms available
Form 990 2016, Form 990-EZ 2015, Form 990-N 2012
Location
Seattle, WA, USA
Phone
2067195593
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Physical & Earth Sciences,

Official website

Reported finances

Revenue
$243,250
Expenses
$185,998
Assets
$233,011
Liabilities
$408

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • ALEX pietsch (PRESIDENT)
  • MAUD DAUDON (VIce president/treasurer)

People named in this filing

  • ALEX pietsch (PRESIDENT)
  • MAUD DAUDON (VIce president/treasurer)
  • JOHN THORnquist (SECRETARY)

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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The washington aerospace partnership, a collaboration between industry, labor and government, works hand in hand with the state Office of Aerospace to build upon our state's century-old legacy of aerospace innovation and excellence by supporting the expansion of existing aerospace companies, promoting the cluster at home and abroad, recruiting new employers, and advocating on behalf of the Industry in public policy arenas.

What it reported doing in 2016

SUPPORTING THE STATE OF WASHINGTON AND OTHER ENTITIES IN THE DEVELOPMENT AND IMPLEMENTATION OF WASHINGTON STATE AEROSPACE INDUSTRY STRATEGY, INCLUDING:-PROVIDING FINANCIAL SUPPORT FOR THE GOVERNOR'S OFFICE OF AEROSPACE;-DEVELOPING THE STRATEGY AND ADVOCATING FOR PRODUCTION OF FUTURE COMMERCIAL AIRPLANE PRODUCTION IN WASHINGTON;-RECRUITING INTERNATIONAL AEROSPACE COMPANIES FROM AROUND THE WORLD TO LOCATE IN WASHINGTON;-SUPPORTING POLICY AND BUDGET PROPOSALS THAT SUPPORT THE AEROSPACE INDUSTRY IN WASHINGTON IN THE 2016 WASHINGTON STATE LEGISLATURE; SEE SCHEDULE O FOR ADDITIONAL INFORMATION-Planning and coordinating the statewide celebration of The Boeing Company's centennial;-Co-sponsorship of the biennial Aerospace & Defense Supplier Summit; and-The Aerospace Economic Impact Update report.

Operating model

Revenue model
Grant-funded. 81% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 87
  • Accountability: 76
  • Sustainability: 70
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.9%; rating input score 72
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 6th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.5%; rating input score 97; 54th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 23.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: -23.4% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -24.7% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -5.2% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 71.9% of revenue deployed · 94% of spending went to programs
  • Governance: 13 of 13 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $175K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2013 to 2016
  • 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: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.