Civic Intelligence

Washington Early Learning Fund

990 • Fiscal year 2018 • EIN 20-4829769

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 13, 2019

2815 Second Ave No 210Seattle, WA 98121

(206) 621-5555

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

44th percentile

0.12x

Higher debt load relative to assets than 44% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

62nd percentile

0.28x

Higher debt load relative to revenue than 62% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

2nd percentile

-117%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

74th percentile

$191,048

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

1st percentile

-46%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-85%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$5,321,424

Down $4,521,458 (-46%) from 2017

Net Assets

Down

$4,701,465

Down $2,619,510 (-36%) from 2017

Liabilities

Down

$619,959

Down $1,901,948 (-75%) from 2017

Revenue

Down

$2,227,763

Down $12,319,827 (-85%) from 2017

Expenses

Down

$4,843,639

Down $12,034,507 (-71%) from 2017

Net Income

Down

-$2,615,876

Down $285,320 (-12%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $10,163,813Liabilities 2011: $1,078,429Net Assets 2011: $9,085,3842011Assets 2012: $8,199,221Liabilities 2012: $1,230,687Net Assets 2012: $6,968,5342012Assets 2013: $10,977,010Liabilities 2013: $2,320,959Net Assets 2013: $8,656,0512013Assets 2014: $10,703,813Liabilities 2014: $1,595,254Net Assets 2014: $9,108,5592014Assets 2015: $8,577,391Liabilities 2015: $1,739,014Net Assets 2015: $6,838,3772015Assets 2016: $12,456,587Liabilities 2016: $1,872,543Net Assets 2016: $10,584,0442016Assets 2017: $9,842,882Liabilities 2017: $2,521,907Net Assets 2017: $7,320,9752017Assets 2018: $5,321,424Liabilities 2018: $619,959Net Assets 2018: $4,701,4652018Assets 2019: $3,705,447Liabilities 2019: $192,678Net Assets 2019: $3,512,7692019

Highlighted filing

2018

Assets$5,321,424
Liabilities$619,959
Net Assets$4,701,465

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MExpenses 2011: $10,218,6802011Expenses 2012: $8,779,9652012Expenses 2013: $12,583,3512013Revenue 2014: $14,758,596Expenses 2014: $14,352,229Net Income 2014: $406,3672014Revenue 2015: $12,530,917Expenses 2015: $14,653,022Net Income 2015: -$2,122,1052015Revenue 2016: $19,616,250Expenses 2016: $15,709,174Net Income 2016: $3,907,0762016Revenue 2017: $14,547,590Expenses 2017: $16,878,146Net Income 2017: -$2,330,5562017Revenue 2018: $2,227,763Expenses 2018: $4,843,639Net Income 2018: -$2,615,8762018Revenue 2019: $2,530,780Expenses 2019: $3,737,880Net Income 2019: -$1,207,1002019

Highlighted filing

2018

Revenue$2,227,763
Expenses$4,843,639
Net Income-$2,615,876
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 13, 2019
Return Version
2017v2.3
Gross Receipts
$3,709,643
Mission and Program Overview

Mission

Thrive washington advances high-quality early learning - with a commitment to innovation and equity - throughout washington state. We work with partners to activate communities, advocate for young children and families, and influence public and private investment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,363,983$3,069,454▼ $294,529
Savings and Temporary Cash Investments$1,005,855$688,015▼ $317,840
Accounts Receivable$2,688,775$488,790▼ $2,199,985
Land, Buildings, and Equipment, Net$84,900$404,871▲ $319,971
Cash and Non-Interest-Bearing Accounts$1,255,402$400,490▼ $854,912
Pledges and Grants Receivable$1,385,476$207,614▼ $1,177,862
Prepaid Expenses and Deferred Charges$40,806$11,535▼ $29,271
Total Assets$9,842,882$5,321,424▼ $4,521,458
Other Assets Total$17,685$50,655▲ $32,970
Liabilities
Grants Payable$2,100,912$0▼ $2,100,912
Deferred Revenue$101,680$392,019▲ $290,339
Accounts Payable and Accrued Expenses$319,315$227,940▼ $91,375
Total Liabilities$2,521,907$619,959▼ $1,901,948
Net Assets / Fund Balance
Unrestricted Net Assets$5,149,349$3,867,114▼ $1,282,235
Temporarily Rstr Net Assets$2,171,626$834,351▼ $1,337,275
Total Net Assets Fund Balance$7,320,975$4,701,465▼ $2,619,510
Total Liabilities and Net Assets / Fund Balance$9,842,882$5,321,424▼ $4,521,458

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$351,344$22,715$374,059
Other Land Buildings$53,527$21,918$75,445
Equipment$0$44,344$44,344
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alan CohenPresident & CEOFT$174,379$16,669$191,048
MOLLY O'CONNOREvp, External AffairsFT$125,591$20,474$146,065
Carmen LohDirector of FinanceFT$118,511$17,033$135,544
Quen ZorrahNfp State LeadFT$108,948$13,551$122,499
Kelly SmithChief of StaffFT$101,589$15,639$117,228

Board Members and Trustees

NameTitle
Don StarkChair
Edie HardingVice President
Rep Ruth KagiVice President
Alan WalkerBoard Member
Beck TaylorBoard Member
Charles WrightBoard Member
Dimitri ChristakisBoard Member
Jim MccarthyBoard Member
MARY ELLEN O'KEEFEBoard Member
Rep Tom DentBoard Member
Sen Lisa WellmanBoard Member
Sen Maureen WalshBoard Member
Susan ChamplainBoard Member
Tim MerlinoBoard Member
Tony BentonBoard Member
Trudi InsleeBoard Member
Deborah JensenInterim Pres & CEO
Beverly JacobsonSecretary
George EdwardsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$598,475
Program Service Revenue
$1,427,959
Investment Income
$200,227
Other Revenue
$1,102
All Other Contributions
$366,427
Change in Net Assets
$-2,615,876

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,227,763
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-914
Total Revenue per Audited Statements
$2,226,849
Total Revenue per Form 990
$2,227,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,101,755
Other Expenses$1,813,270
Grants and Similar Amounts Paid$928,614
Total Fundraising Expense$380,482
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$758,107$552,354$200,604$1,511,065
Fees for Services Other$606,775$303,801$26,045$936,621
Grants to Domestic Orgs$928,614--$928,614
Other Employee Benefits$150,943$34,056$23,044$208,043
Current Officers, Directors, Trustees, and Key Employees$48,309$111,119$29,679$189,107
Information Technology$78,666$54,534$29,415$162,615
Fees for Services Accounting-$161,541-$161,541
Occupancy$69,471$50,616$18,383$138,470
Payroll Taxes$62,870$45,807$16,636$125,313
Depreciation Depletion$46,295$33,731$12,250$92,276
Pension Plan Contributions$34,229$24,940$9,058$68,227
Travel$50,704$5,362$963$57,029
Conferences and Meetings$12,092$29,657$3,731$45,480
Fees for Services Lobbying$39,500--$39,500
Advertising$25,238$1,018$6,211$32,467
Fees for Service Investment Mgmnt Fees-$16,783-$16,783
Office Expenses$8,071$3,828$1,426$13,325
Fees for Services Legal$1,465$7,616-$9,081
Other Expenses$3,463$77$183$3,723
Total Functional Expenses$2,995,337$1,467,820$380,482$4,843,639

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,846,359
Expenses per Audited Statements$4,843,639
Total Expenses per Form 990$4,843,639
Expenses Not Reported on Form 990$2,720
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Support for Early Learning FamiliesVancouver, WA501(c)(3)Community Momentum$96,482
Community Minded EnterprisesSpokane, WA501(c)(3)Community Momentum$95,326
SCHOOL'S OUT WASHINGTONSeattle, WA501(c)(3)Community Momentum$91,888
Yakima Valley Community FoundationYakima, WA501(c)(3)Community Momentum$91,102
Educ Svc Distr 123Pasco, WAGovernmentCommunity Momentum$88,081
Educ Svc Distr 189 NwAnacortes, WAGovernmentCommunity Momentum$87,686
Educ Svc Distr 114Bremerton, WAGovernmentCommunity Momentum$87,292
First Five FundamentalsTacoma, WA501(c)(3)Community Momentum$87,023
Child Care Action CouncilOlympia, WA501(c)(3)Community Momentum$50,000
Educ Svc Distr 113 Vision for El WcTumwater, WAGovernmentCommunity Momentum$33,492
Total Grants Under 5k Each--Community Momentum/stem$27,961
Seattle Childrens Hospital FoundationSeattle, WA501(c)(3)Stem$20,000
Voices of TomorrowTukwila, WA501(c)(3)Community Momentum$18,902
United Way Chelandouglas CountiesWenatchee, WA501(c)(3)Community Momentum$17,975
ZenoSeattle, WA501(c)(3)Stem$12,500
Child Care ResourcesSeattle, WA501(c)(3)Stem$12,000
Spokane County LibrarySpokane, WAGovernmentStem$10,904
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The executive committee is allowed to act on behalf of the organization's governing body. The executive committee is comprised of the board officers.

Form 990, Part VI, Section B, Line 11B

After preparation by an independent cpa firm, form 990 is reviewed by the cfo and audit committee, and then provided to the board before filing.

Form 990, Part VI, Section B, Line 12C

Thrive requires all board members to agree to a conflict of interest policy. Thrive also distributes and reviews an annual conflict of interest questionnaire sent to all board members. The questionnaire addresses both direct and indirect conflicts of interest. If a conflict of interest is found, the board member is prohibited from voting on key decisions related to the conflict identified. The board and/or leadership decide if there is a conflict.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policies, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Thrive Washington
EIN
20-4829769
Phone
2066215555
Address
2815 SECOND AVE NO 210, SEATTLE, WA 98121

Signing Officer

Name
MOLLY O'CONNOR
Title
Chief Executive Officer
Phone
2066215555
Signed
2019-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
MOLLY O'CONNOR
Formed
2006
Legal Domicile
Wa
Voting Board Members
19
Independent Board Members
19
Employees
33
Volunteers
20

Preparer

Firm
PETERSON SULLIVAN LLP CPA'S
Address
601 UNION ST STE 2300, SEATTLE, WA 98101-2345
Preparer
Ray Holmdahl
Phone
2063827777
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6:

The board of directors are the organization's primary volunteers. These volunteers help set the direction of the organization through leadership, expertise, and counsel. Among other governance responsibilities, the board of directors approves the budget, hires and evaluates the ceo, and approves the strategic plan.

Form 990, Part III, Line 3

On july 1, 2017, thrive washington transferred its management of a large portfolio of home visiting grants & contracts to the state department of early learning (now department of children, youth and families), resulting in a more than $10m decrease in thrive's budget between the prior year and the current year. This transfer was done to acknowledge that 1.) the scale of the work warranted it now being held by the state, and 2.) thrive no longer contributed significant private funding to the account. Thrive continues to be the state's primary partner in home visiting. We support the workforce and ensure programs deliver on their promise to children and families; build community capacity to offer home visiting; advocate for investment in the overall system; and manage the governance structure for the home visiting services account. In fy18, thrive was also in the final funding phase of its grants to support science, technology, engineering and math (stem) in early learning. Three grants were provided, down from 17 grants the year before.

Form 990, Part IX, Line 11G

Consulting: program service expenses 606,775. Management and general expenses 303,801. Fundraising expenses 26,045. Total expenses 936,621.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets 2,720.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets 2,720.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THRIVE WASHINGTON ADVANCES HIGH-QUALITY EARLY LEARNING - WITH A COMMITMENT TO INNOVATION AND EQUITY - THROUGHOUT WASHINGTON STATE. WE WORK WITH PARTNERS TO ACTIVATE COMMUNITIES, ADVOCATE FOR YOUNG CHILDREN AND FAMILIES, AND INFLUENCE PUBLIC AND PRIVATE INVESTMENT.
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