Whatcom Community Foundation

What it reported doing in 2024

Grantmaking - one way the whatcom community foundation puts dollars to work is by making grants and scholarships. Our three primary grantmaking programs are:(1) competitive & relief grants: we hold multiple funds for whatcom county from which we award grants on a competitive basis. Some of the grants have a specific focus area. Others are more broadly designed to meet our community's changing needs. We invite creativity and imagination in the preparation of grant requests that help create a community where everyone thrives. Grants are also issued to support flood relief efforts and disaster preparedness.(2) donor recommended grants: we steward a variety of donor advised funds. Grants are awarded from these funds based upon recommendations from the donors or their designated representatives. Grants can be made to local, national and international nonprofit entities. All grants align with community foundation vision, mission and values.(3) scholarship program: the foundation awards scholarships to graduates of local high schools to attend post-secondary education, helping remove the barriers that stand between young people and the education they need to be successful, and demonstrating to students that their community is invested in their potential, their future, and their success.

Financial Efficiency

• Mission deployment rate: 60.4%; rating input score 60
• Program expense ratio: 90.1%; rating input score 90
• Fundraising efficiency: $91.51 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 89.3%; rating input score 89; 20th 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; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 38.4%; rating input score 91; 91st percentile among comparable filings
• Total-asset coverage ratio: 7.92; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.06; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 8.8%; rating input score 25; 25th percentile among comparable filings

Growth

• Program expense growth: 9.2% per year; rating input score 100; 67th percentile among comparable filings
• Revenue growth: 6.6% per year; rating input score 100; 56th percentile among comparable filings
• Asset growth: 11.5% per year; rating input score 100; 71st percentile among comparable filings