Washington State Pharmacy Foundation

Nonprofit profile at a glance

EIN
910996629
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Renton, WA, USA
Phone
4252287171
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$28,936
Expenses
$35,986
Assets
$1,028,818
Liabilities
$24,800

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Jennifer Arnold (Executive Director)
  • Teri Ferreira (President)
  • Leon Alzola (Vice President)

Highest reported compensation

  • Jennifer Arnold (Executive Director): $185,504 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 support and initiate educational programming, pharmacy practice research and innovative practices to improve and enhance the practice of pharmacy.

What it reported doing in 2024

The Foundation seeks to support the Washington State Pharmacy Association to strengthen the pharmacy professions of Washington State. The Foundation owns and operates the building that houses the Pharmacy Association and meeting room.

Operating model

Revenue model
Investment-supported. 84% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 77
  • Accountability: 90
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.7%; rating input score 71
  • Program expense ratio: 64.7%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 64th 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: -24.4%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 28.59; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 515.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -6.5% per year; rating input score 0; 35th percentile among comparable filings
  • Revenue growth: -7.6% per year; rating input score 0; 36th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 70.7% of revenue deployed · 64.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $23K in reported program spending
  • Leadership: top reported pay $186K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.