Civic Intelligence

Farestart

990 • Fiscal year 2023 • EIN 91-1546757

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 07, 2024

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

37th percentile

0.09x

Higher debt load relative to assets than 37% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.09x

Higher debt load relative to revenue than 27% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

51st percentile

4.4%

Higher net margin than 51% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

69th percentile

$247,317

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

31st percentile

0.4%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

62nd percentile

12%

Faster revenue growth than 62% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$20,369,224

Flat from 2023

Net Assets

Flat

$18,603,014

Flat from 2023

Liabilities

Flat

$1,766,210

Flat from 2023

Revenue

Flat

$19,063,456

Flat from 2023

Expenses

Flat

$18,232,008

Flat from 2023

Net Income

Flat

$831,448

Flat from 2023

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 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

2023

Assets$20,369,224
Liabilities$1,766,210
Net Assets$18,603,014

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 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

2023

Revenue$19,063,456
Expenses$18,232,008
Net Income$831,448
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 7, 2024
Return Version
2023v5.0
Gross Receipts
$22,666,808
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$8,560,127$8,018,099▼ $542,028
Pledges and Grants Receivable$4,756,131$7,259,597▲ $2,503,466
Cash and Non-Interest-Bearing Accounts$2,463,669$2,891,844▲ $428,175
Accounts Receivable$926,524$675,728▼ $250,796
Investments in Publicly Traded Securities$1,635,975$535,705▼ $1,100,270
Savings and Temporary Cash Investments$1,143,209$474,965▼ $668,244
Prepaid Expenses and Deferred Charges$289,092$171,465▼ $117,627
Inventories for Sale or Use$110,466$38,580▼ $71,886
Total Assets$20,280,851$20,369,224▲ $88,373
Other Assets Total$395,658$303,241▼ $92,417
Liabilities
Accounts Payable and Accrued Expenses$1,152,774$1,350,838▲ $198,064
Other Liabilities$380,123$314,360▼ $65,763
Deferred Revenue$55,531$101,012▲ $45,481
Mortgage Notes Payable Secured by Investment Property$6,636--
Total Liabilities$1,595,064$1,766,210▲ $171,146
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,797,633$13,085,487▼ $1,712,146
Net Assets With Donor Restrictions$3,888,154$5,517,527▲ $1,629,373
Total Net Assets Fund Balance$18,685,787$18,603,014▼ $82,773
Total Liabilities and Net Assets / Fund Balance$20,280,851$20,369,224▲ $88,373

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,996,773$3,852,043$8,848,816
Equipment$579,122$3,209,239$3,788,361
Land$2,442,204-$2,442,204
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diamatris WinstonCFOFT$239,663$15,485$247,317
Carlin LlorenteChief PrograFT$195,671$9,279$204,950
Carlin LlorenteChief Program Ofcr-$195,671$7,333$204,950
Nicole MoonSnr VP Ppl &FT$175,568$13,511$189,079
Nicole MoonSnr VP Ppl & Culture-$175,568$12,991$189,079
Megan HampsonCDOFT$175,419$14,819$188,676
Margaret VieraDirector Cmnty inFT$172,081$14,482$186,563
Margaret VieraDirector Cmnty Initiative-$172,081$10,786$186,563
PATRICK D'AMELIOCEOFT$171,995$13,087$181,573
Stephanie SchooDirector MarketinFT$167,420$14,153$181,573
Stephanie SchooDirector Marketing & Comm-$167,420$10,554$181,573
Brian SlegelDirector ofFT$151,219$13,683$164,902
Brian SlegelDirector of Finance-$151,219$13,505$164,902
Nicole TrimbleInterim CEOFT$158,463$6,586$162,079
Renee MartinVP ConsultinFT$146,778$13,175$159,953
Renee MartinVP Consulting-$146,778$7,242$159,953
Ryan DeanCOOFT$132,484$7,059$139,543
Lauren YoungDirector IndividuFT$115,745$14,686$130,431
Erika Van MerrDirector InstitunFT$120,621$5,996$126,617
Elizabeth JamesAssoc Director CoFT$111,918$10,822$122,740
Amberine WilsonDirector WorkforcFT$109,899$10,454$120,353
Serae WrightCpioFT$63,867$3,472$67,339
Angela Dunleavy-stowellCEO (end)FT$20,906$873$21,779

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$308,508
Unfiltered Views LLCData Analytics1634 ROME AVE, Saint Paul, MN 55116$100,076
Revenue and Support

Revenue Composition

Contributions and Grants
$16,703,848
Program Service Revenue
$233,949
Investment Income
$80,775
Other Revenue
$2,044,884
All Other Contributions
$9,390,115
Change in Net Assets
$831,448

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
Food Inventory737$413,568Comparative Sales
Securities Publicly Traded14$297,849Publicly Traded Value
Other Non Cash Contri Table117$253,439Comparative Sales
Other Non Cash Contri Table262$252,139Comparative Sales
Total Noncash Contributions1,130$1,216,995-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,042,625
Revenue Not Reported on Financial Statements
$1,020,831
Revenue Not Reported on Form 990
$1,392,420
Other Revenue Adjustments
$1,020,831
Total Revenue per Audited Statements
$19,435,045
Total Revenue per Form 990
$19,063,456
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,437,969
Other Expenses$4,167,599
Grants and Similar Amounts Paid$1,621,865
Total Fundraising Expense$1,198,245
Professional Fundraising Fees$4,575

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,707,438$675,463$727,468$8,110,369
Current Officers, Directors, Trustees, and Key Employees$827,090$822,246$175,419$1,824,755
Grants to Domestic Individuals$1,621,865--$1,621,865
Other Employee Benefits$953,127$164,894$95,834$1,213,855
Payroll Taxes$840,556$145,355$84,452$1,070,363
Occupancy$699,070$153,294-$852,364
Fees for Services Other$376,236$458,773$12,974$847,983
All Other Expenses$494,717$156,633$2,920$654,270
Depreciation Depletion$212,274$251,304-$463,578
Information Technology$247,415$82,471-$329,886
Pension Plan Contributions$171,688$29,690$17,249$218,627
Insurance$116,134$29,713-$145,847
Fees for Services Legal-$121,722-$121,722
Office Expenses$23,156$4,438$32,703$60,297
Fees for Services Accounting-$56,009-$56,009
Fees for Services Lobbying-$49,000-$49,000
Fees for Services Management-$45,920-$45,920
Other Expenses$19,354$20,086$5,559$44,999
Travel$37,308$2,988$1,850$42,146
Interest$21,131$7,044-$28,175
Advertising-$1,245$11,675$12,920
Fees for Services Professional Fundraising--$4,575$4,575
Total Functional Expenses$13,717,362$3,316,401$1,198,245$18,232,008

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,517,818
Total Expenses per Form 990$18,232,008
Expenses per Audited Statements$17,211,177
Expenses Not Reported on Form 990$2,306,641
Expenses Not Reported on Financial Statements$1,020,831
Other Expense Adjustments$1,020,831
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$890,091
Fundraising Gross Income$359,590
Gaming Gross Income$27,500
Gaming Direct Expenses$5,548
Professional Fundraising Fees$4,575

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$2,024,402$349,110$296,531$52,579
Golf Tourn$235,766$10,480$23,971$-13,491
Total Events$2,260,168$359,590$890,091$-530,501
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$314,360
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 svp finance, and the board chair. 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 issues board members the 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 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 reviews the performance of the ceo and determines 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 any salary adjustment.

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

All employees participate in a performance review at the minimum annually. Benchmarking is performed through outside survey sources and salaries are determined through market analysis, merit, and the finances of the organization.

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
2024-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
PATRICK D'AMELIO
Formed
1992
Legal Domicile
Wa
Voting Board Members
17
Independent Board Members
17
Employees
222
Volunteers
640

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, Part XI, Line 9

IMPAIRMENT LOSS -174,329

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, 2023 and 2022.

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

Fundraising event expenses 672,181

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

Indiv support in gaap cogs 1,020,831

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

Fundraising event expenses 672,181 loss on asset impairment 174,329

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

Indiv support in gaap cogs 1,020,831

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IRS990/Desc0FOR OVER 30 YEARS, FARESTART HAS SUPPORTED FOOD SECURITY ACROSS THE SEATTLE AREA WHILE PROVIDING JOB TRAINING OPPORTUNITIES FOR OUR STUDENTS. WE CONTRACT WITH NONPROFIT ORGANIZATIONS, SHELTERS, SCHOOLS AND DAYCARE CENTERS TO PROVIDE NUTRITIOUS, PREPARED MEALS TO MOSTLY FOOD INSECURE COMMUNITIES. WE ALSO OPERATE A MOBILE COMMUNITY MARKET THAT PROVIDES FRESH PRODUCE AND STAPLES TO UNDERSERVED COMMUNITIES IN SOUTH KING COUNTY. IN 2023, WE PROVIDED 862,965 PREPARED MEALS AND DISTRIBUTED 91,578 POUNDS OF PRODUCE TO CHILDREN, INDIVIDUALS AND FAMILIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF PROGRA
IRS990/Form990PartVIISectionAGrp/TitleTxt2SNR VP PPL &
IRS990/Form990PartVIISectionAGrp/TitleTxt3CDO
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IRS990/Form990PartVIISectionAGrp/TitleTxt5CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIR MARKETIN
IRS990/Form990PartVIISectionAGrp/TitleTxt7INTERIM CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt10COO
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIR INSTITUN
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIR INDIVIDU
IRS990/Form990PartVIISectionAGrp/TitleTxt13ASSOC DIR CO
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIR WORKFORC
IRS990/Form990PartVIISectionAGrp/TitleTxt15CPIO
IRS990/Form990PartVIISectionAGrp/TitleTxt16CEO (END)
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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
2023Detailed filing. Detailed filing data is available for this year.$20.4$1.77$18.6$19.1$18.2$0.83
2023Summary only. Only limited summary data is available for this year.$20.4$1.77$18.6$19.1$18.2$0.83
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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