Civic Intelligence

Farestart

990 • Fiscal year 2022 • EIN 91-1546757

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

Refreshing map…

700 Virginia StreetSeattle, WA 98101

(206) 443-1233

Siviq Scores

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

Liabilities / Assets

36th percentile

0.08x

Higher debt load relative to assets than 36% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

30th percentile

0.09x

Higher debt load relative to revenue than 30% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

10th percentile

-24%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

85th percentile

$358,392

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

6th percentile

-20%

Faster asset growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

21st percentile

-16%

Faster revenue growth than 21% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$20,280,851

Down $4,968,733 (-20%) from 2021

Net Assets

Down

$18,685,787

Down $5,044,837 (-21%) from 2021

Liabilities

Up

$1,595,064

Up $76,104 (+5.0%) from 2021

Revenue

Down

$17,013,984

Down $3,192,441 (-16%) from 2021

Expenses

Up

$21,129,205

Up $5,822,212 (+38%) from 2021

Net Income

Down

-$4,115,221

Down $9,014,653 (-184%) from 2021

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $23,817,337Liabilities 2011: $16,701,812Net Assets 2011: $7,115,5252011Assets 2012: $12,766,814Liabilities 2012: $683,063Net Assets 2012: $12,083,7512012Assets 2013: $14,409,753Liabilities 2013: $619,776Net Assets 2013: $13,789,9772013Assets 2014: $14,836,898Liabilities 2014: $717,523Net Assets 2014: $14,119,3752014Assets 2015: $15,338,477Liabilities 2015: $970,767Net Assets 2015: $14,367,7102015Assets 2016: $14,397,248Liabilities 2016: $1,207,162Net Assets 2016: $13,190,0862016Assets 2017: $47,351,047Liabilities 2017: $2,903,628Net Assets 2017: $44,447,4192017Assets 2018: $30,116,931Liabilities 2018: $2,381,934Net Assets 2018: $27,734,9972018Assets 2019: $20,710,837Liabilities 2019: $4,047,962Net Assets 2019: $16,662,8752019Assets 2020: $23,283,228Liabilities 2020: $6,252,215Net Assets 2020: $17,031,0132020Assets 2021: $25,249,584Liabilities 2021: $1,518,960Net Assets 2021: $23,730,6242021Assets 2022: $20,280,851Liabilities 2022: $1,595,064Net Assets 2022: $18,685,7872022Assets 2023: $20,369,224Liabilities 2023: $1,766,210Net Assets 2023: $18,603,0142023Assets 2024: $22,036,232Liabilities 2024: $4,652,546Net Assets 2024: $17,383,6862024

Highlighted filing

2022

Assets$20,280,851
Liabilities$1,595,064
Net Assets$18,685,787

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2011: $6,949,432Expenses 2011: $7,243,371Net Income 2011: -$293,9392011Expenses 2012: $8,402,2552012Revenue 2013: $8,774,924Expenses 2013: $8,680,499Net Income 2013: $94,4252013Revenue 2014: $11,741,615Expenses 2014: $10,561,165Net Income 2014: $1,180,4502014Revenue 2015: $12,624,424Expenses 2015: $12,366,745Net Income 2015: $257,6792015Revenue 2016: $12,650,980Expenses 2016: $13,837,713Net Income 2016: -$1,186,7332016Revenue 2017: $19,563,851Expenses 2017: $19,123,764Net Income 2017: $440,0872017Revenue 2018: $21,180,717Expenses 2018: $22,057,809Net Income 2018: -$877,0922018Revenue 2019: $20,628,224Expenses 2019: $21,102,787Net Income 2019: -$474,5632019Revenue 2020: $25,167,456Expenses 2020: $22,306,014Net Income 2020: $2,861,4422020Revenue 2021: $20,206,425Expenses 2021: $15,306,993Net Income 2021: $4,899,4322021Revenue 2022: $17,013,984Expenses 2022: $21,129,205Net Income 2022: -$4,115,2212022Revenue 2023: $19,063,456Expenses 2023: $18,232,008Net Income 2023: $831,4482023Revenue 2024: $14,654,450Expenses 2024: $15,060,357Net Income 2024: -$405,9072024

Highlighted filing

2022

Revenue$17,013,984
Expenses$21,129,205
Net Income-$4,115,221
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$19,316,623
Mission and Program Overview

Mission

Farestart provides a community that transforms lives by empowering homeless and disadvantaged men, women and families to achieve self-sufficiency through life skills, job training and employment in the food service industry.

Farestart transforms lives, disrupts poverty and nourishes communities through food, life skills and job training.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,259,105$8,560,127▲ $301,022
Pledges and Grants Receivable$5,235,718$4,756,131▼ $479,587
Cash and Non-Interest-Bearing Accounts$4,886,277$2,463,669▼ $2,422,608
Investments in Publicly Traded Securities$1,682,297$1,635,975▼ $46,322
Savings and Temporary Cash Investments$4,501,332$1,143,209▼ $3,358,123
Accounts Receivable$283,569$926,524▲ $642,955
Prepaid Expenses and Deferred Charges$267,010$289,092▲ $22,082
Inventories for Sale or Use$134,276$110,466▼ $23,810
Total Assets$25,249,584$20,280,851▼ $4,968,733
Other Assets Total-$395,658-
Liabilities
Accounts Payable and Accrued Expenses$1,254,339$1,152,774▼ $101,565
Other Liabilities$72,685$380,123▲ $307,438
Deferred Revenue$133,778$55,531▼ $78,247
Mortgage Notes Payable Secured by Investment Property$58,158$6,636▼ $51,522
Total Liabilities$1,518,960$1,595,064▲ $76,104
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,152,846$14,797,633▼ $4,355,213
Net Assets With Donor Restrictions$4,577,778$3,888,154▼ $689,624
Total Net Assets Fund Balance$23,730,624$18,685,787▼ $5,044,837
Total Liabilities and Net Assets / Fund Balance$25,249,584$20,280,851▼ $4,968,733

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,249,231$3,583,614$8,832,845
Equipment$868,692$3,635,268$4,503,960
Land$2,442,204-$2,442,204
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Angela Dunleavy-stowellCEO (end)FT$297,311$61,081$358,392
Ryan DeanCOOFT$221,966$31,965$245,931
Matthew GurneyVP EnterprisFT$194,450$8,120$202,570
Matthew GurneyVP Enterprise Dev-$166,180$8,120$202,570
Carlin LlorenteChief PrograFT$195,908$4,390$200,298
Carlin LlorenteChief Program Ofcr-$187,908$32,660$200,298
Emily DittyCDO (end)FT$171,712$14,352$186,064
Renee MartinVP ConsultinFT$146,018$12,886$158,904
Renee MartinVP Consulting-$146,018$12,886$158,904
Megan HampsonCDOFT$138,694$11,429$150,123
Stephanie SchooDirector MarketinFT$136,925$12,411$149,336
Emily HanningDirector OperatioFT$119,621$13,692$133,313
Erin BourgoisDirector OutcomesFT$108,068$10,729$118,797
Margaret VieraDirector Cmnty inFT$103,805$11,136$114,941
Diamatris WinstonCFOFT$74,661$2,536$77,197
Nicole TrimbleInterim CEOFT$3,938$35$3,973

Board Members and Trustees

NameTitle
Janice JavierChair
Bettina StixBoard Member
Brian SurrattBoard Member
Claudia LeslieBoard Member
Dani ConeBoard Member
Ed GoinesBoard Member
Justin BookerBoard Member
Kat KorabBoard Member
Laila Elias PhdBoard Member
Michael PickettBoard Member
Michelle BurnsBoard Member
Peter GuyerBoard Member
Srilata RemalaBoard Member
Todd KormanBoard Member
Tricia Mckay LincolnBoard Member
Walter EuyangBoard Member
Sue BevingtonSecretary
Julaine SmithTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
IsoutsourceIt Support19119 NORTH CREEK PARKWAY, Bothell, WA 98011$306,704
Camber ConsultingFinance Consult113 CHERRY ST 62530, Seattle, WA 98104$150,000
Garuda Labs INCTemp Labor548 MARKET ST PMB 63152, San Francisco, CA 94104$123,666
Gourmondo CateringMeal Production2415 AIRPORT WAY S, Seattle, WA 98134$109,738
Bright ConsultingHuman Resources1100 BELLEVUE WA NE 8A, Bellevue, WA 98004$105,000
Revenue and Support

Revenue Composition

Contributions and Grants
$16,124,819
Program Service Revenue
$86,241
Investment Income
$30,033
Other Revenue
$772,891
All Other Contributions
$8,118,688
Change in Net Assets
$-4,115,221

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table576$628,023Comparative Sales
Food Inventory1,172$554,640Comparative Sales
Other Non Cash Contri Table278$322,994Comparative Sales
Securities Publicly Traded25$189,635Publicly Traded Value
Total Noncash Contributions2,051$1,695,292-

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,474,696
Revenue Not Reported on Financial Statements
$2,539,288
Revenue Not Reported on Form 990
$651,586
Other Revenue Adjustments
$2,539,288
Total Revenue per Audited Statements
$15,126,282
Total Revenue per Form 990
$17,013,984
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,958,372
Other Expenses$5,237,573
Grants and Similar Amounts Paid$2,933,260
Total Fundraising Expense$1,567,168
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,148,498$890,501$649,472$8,688,471
Grants to Domestic Individuals$2,903,260--$2,903,260
Other Employee Benefits$1,577,081$88,851$95,824$1,761,756
Current Officers, Directors, Trustees, and Key Employees$619,390$305,376$539,439$1,464,205
Occupancy$711,965$264,523-$976,488
Payroll Taxes$477,459$250,726$92,986$821,171
All Other Expenses$582,212$172,298$57,099$811,609
Fees for Services Other$714,856$52,134$6,463$773,453
Information Technology$330,761$220,507-$551,268
Depreciation Depletion$167,642$291,416-$459,058
Office Expenses$192,522$73,117$23,487$289,126
Fees for Services Management-$255,000-$255,000
Pension Plan Contributions$109,089$75,568$38,112$222,769
Insurance$95,790$39,533-$135,323
Fees for Services Accounting$45,392$30,261-$75,653
Other Expenses$57,526$1,224$40,567$58,750
Fees for Services Lobbying$33,000$22,000-$55,000
Travel$28,600$7,510$3,647$39,757
Grants to Domestic Orgs$30,000--$30,000
Fees for Services Legal$17,779$11,852-$29,631
Advertising$758$506$10,673$11,937
Interest$487$325-$812
Total Functional Expenses$16,472,135$3,089,902$1,567,168$21,129,205

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$21,129,205
Total Expenses per Audited Statements$20,171,119
Expenses per Audited Statements$18,589,917
Expenses Not Reported on Financial Statements$2,539,288
Other Expense Adjustments$2,539,288
Expenses Not Reported on Form 990$1,581,202
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mission Edge San DiegoSan Diego, CA3Catalyst Kitchens$30,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,066,465
Fundraising Gross Income$413,718
Gaming Gross Income$27,500
Gaming Direct Expenses$13,304
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$2,198,582$397,948$169,886$228,062
Golf Tourn$268,127$15,770$55,922$-40,152
Total Events$2,466,709$413,718$1,066,465$-652,747
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$380,123
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A draft copy of the form 990 is reviewed by the ceo, the cfo, and board treasurer. A copy of the final form 990 is provided to the full finance committee and board of directors, and published to the farestart website.

Form 990, Page 6, Part VI, Line 12C

The organization does not allow members of the board of directors who have conflicts of interest related to a specific issue to vote on that issue. Farestart annually reminds board members about conflict of interest policy and requests signed certifications that they have read and understand the policy.

Form 990, Page 6, Part VI, Line 15A

The executive committee of the board completes a 360-degree performance review and uses an outside survey source (the united way of king county salary survey of non-profits) for the region. The committee then discusses the performance of the ceo and decides on the salary as a group. The ceo does not participate in these discussions or decisions. The executive committee then meets with the ceo to discuss the performance evaluation and the salary adjustment.

Form 990, Page 6, Part VI, Line 15B

All other employees participate in an annual and mid-year review and calibration process. Feedback is sought from direct reports and peers and salary increases are based on merit and market analysis.

Form 990, Page 6, Part VI, Line 19

The organization makes its annual audited financial statements and form 990 available to the general public on its website. All other documents, such as: conflict of interest policy; organizational documents; form 1023; and interim financial information, are made available at the organization's administrative office upon request.

Filing and Contact Details

Filer

Filer Name
Farestart
EIN
91-1546757
Phone
2064431233
Address
700 VIRGINIA STREET, SEATTLE, WA 98101

Signing Officer

Name
PATRICK D'AMELIO
Title
CEO
Phone
2064431233
Signed
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
PATRICK D'AMELIO
Formed
1992
Legal Domicile
Wa
Voting Board Members
18
Independent Board Members
18
Employees
258
Volunteers
1,424

Preparer

Firm
Finney Neill & Company Ps
Address
9757 GREENWOOD AVE N, SEATTLE, WA 98103
Preparer
Joshua J Breiling CPA
Phone
2062989811
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4B

Our food-based social enterprises serve as classrooms, where students gain valuable employment and self-empowerment skills that provide pathways into various culinary and food-based careers. Students learn and hone these skills in real-world situations while being in a supportive environment that includes wraparound social services such as housing, mental health support, transportation and more. In 2022, 254 youth and adult students enrolled in farestart job training programs; 167 students graduated; and 88 job placements and promotions were facilitated. Throughout the covid pandemic, we have continued to evolve our job training programs to better meet the needs of our students and create pathways for personal stability and economic mobility. Most of the programming remained virtual throughout the year, but we also started welcoming back students onsite with the launch of our new food pathways program. 1)online learning program, which is a continuation of the virtual program that we developed early in the pandemic. The program provides adults 18+ years of age up to six weeks of virtual learning that is focused on transferable skills that can be applied to a variety of different industries. In 2022, 94 students enrolled. 2)food pathways program, an evolution of our former adult culinary program, provides adults 18+ years of age with up to six months of training. Students learn self-empowerment skills, financial literacy and other life skills while learning on-the-job skills within our food security programs that will prepare students for careers in culinary and other food-based industries. In 2022, 23 students enrolled. 3)barista & customer service program, which promotes education advancement and job readiness for young adults age 15 - 24 years of age. Students receive up to seven weeks of training working with expert baristas. In 2022, this program remained fully virtual. We partnered with seattle public schools' interagency academy and nova high school, y social impact center and gifts of hope. In 2022, 134 students enrolled.

Form 990, Part XI, Line 9

Uncollectible pledges -121,365

Financial Statement Notes

Schedule D, Page 3, Part X

Farestart accounts for tax positions in accordance with the recognition and initial measurement sections of the income taxes topic of the financial accounting standards board accounting standards codification. With few exceptions, farestart is subject to federal and state income tax examinations by tax authorities for the prior three years. Management has reviewed farestart's tax positions and determined there were no uncertain tax positions as of december 31, 2022 and 2021.

Schedule D, Page 4, Part XI, Line 2D

Fundraising event expenses 673,400

Schedule D, Page 4, Part XI, Line 4B

Indiv support in gaap cogs 2,539,288

Schedule D, Page 4, Part XII, Line 2D

Fundraising event expenses 673,400 uncollectible pledges 121,365

Schedule D, Page 4, Part XII, Line 4B

Indiv support in gaap cogs 2,539,288

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IRS990/Desc0WE CONTINUED TO OPERATE AN EXPANDED PREPARED MEALS PROGRAM AS WELL AS A MOBILE COMMUNITY MARKET TO HELP DECREASE FOOD INSECURITY IN OUR COMMUNITIES, WHICH HAD GROWN AS A RESULT OF THE PANDEMIC. MORE THAN 1.5 MILLION MEALS WERE PREPARED AND DELIVERED. PRIMARY PARTNER SITES RECEIVING HUNGER RELIEF MEALS INCLUDED DOWNTOWN EMERGENCY SERVICE CENTER, PLYMOUTH HOUSING, SCHOOLS, AND FREE AND REDUCED LUNCH DISTRIBUTION LOCATIONS. ADDITIONALLY, WE DISTRIBUTE MEALS TO CLIENTS OF THE SEATTLE HOUSING AUTHORITY AND KING COUNTY HOUSING AUTHORITY.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.0$4.65$17.4$14.7$15.1$0.41
2023Summary only. Only limited summary data is available for this year.$20.4$1.77$18.6$19.1$18.2$0.83
2022Detailed filing. Detailed filing data is available for this year.$20.3$1.60$18.7$17.0$21.1$4.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.2$1.52$23.7$20.2$15.3$4.90
2020Detailed filing. Detailed filing data is available for this year.$23.3$6.25$17.0$25.2$22.3$2.86
2019Detailed filing. Detailed filing data is available for this year.$20.7$4.05$16.7$20.6$21.1$0.47
2018Detailed filing. Detailed filing data is available for this year.$30.1$2.38$27.7$21.2$22.1$0.88
2017Detailed filing. Detailed filing data is available for this year.$47.4$2.90$44.4$19.6$19.1$0.44
2016Detailed filing. Detailed filing data is available for this year.$14.4$1.21$13.2$12.7$13.8$1.19
2015Detailed filing. Detailed filing data is available for this year.$15.3$0.97$14.4$12.6$12.4$0.26
2014Detailed filing. Detailed filing data is available for this year.$14.8$0.72$14.1$11.7$10.6$1.18
2013Detailed filing. Detailed filing data is available for this year.$14.4$0.62$13.8$8.77$8.68$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.8$0.68$12.1$8.40
2011Summary only. Only limited summary data is available for this year.$23.8$16.7$7.12$6.95$7.24$0.29
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $10M-$25M nonprofits