The Sequoia Project INC FY2021 filing

Tax-deductible

Vienna, VA501(c)(3)Since 2018Health CareEIN 83-1938925Revenue $6.2M in FY2021

On file with the IRSsequoiaproject.org8300 Boone Blvd Ste 500, 22182-2681 · Vienna, VATax-exempt since May 2021Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$2.2M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $176K a year · 3% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.2M
to officers and key staff · 38% of spending
Concern: pay to officers and key staff is 38% of spending; over 30%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.2M
+33% vs prior year
Spent
$5.6M
To programs
70%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$6.2M
FY2021▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.6M
FY2021$6.2M
FY2022$7.2M
FY2023$4.6M
FY2024$6.8M
Expenses
$5.6M
FY2021▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.8M
FY2021$5.6M
FY2022$6.9M
FY2023$4.6M
FY2024$6.7M
Net assets
$1.8M
FY2021▲ +48%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.8M
FY2022$2.1M
FY2023$2.1M
FY2024$2.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $3.9M Management & general 30% · $1.7M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990; $2.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$476,838Pt VII · Sec A
Executive Director, Healtheway, INC.
$345,068Pt VII · Sec A
Chief Operating Officer
$248,925Pt VII · Sec A
Director, Program Integration, Healtheway, INC.
$194,005Pt VII · Sec A
VP Marketing
$191,670Pt VII · Sec A
VP Informatics
$179,611Pt VII · Sec A
Solutions Engineer, Healtheway, INC.
$148,505Pt VII · Sec A
Executive Director, Carequality
$147,435Pt VII · Sec A

Mariann Yeager’s $513K as CEO is at the 97th percentile of top reported officer pay among 3128 $1–10M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Mariann Yeager$513,199$503,547$483,695$476,838$464,914
Jay Nakashima$392,321$362,439$365,940$345,068$257,529
Debra Condrey$306,402$307,379$266,417$248,925—
Alan Swenson$299,663$286,252$250,822$147,435—
Alan Smith$293,689$282,971$275,412$88,844—
Lindsey Elkind$268,759$275,743———
David Cassel————$268,996
Eric Heflin————$237,147

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Sequoia Project INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides program and general management services to other nonprofits advancing health information sharing.

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Provided by the organization

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3 programs · $3.9M · in their own filed words · FY2021
01

Managed Service Income

The Organization provides program and general management services to other non-profit organizations who share the mission of the Organization.

$2.3Mprogram expense
02

US Government Grants

During 2021, the Organization was awarded a grant by the US Dept of Health and Human Services (HHS) to serve as the Recognized Coordinating Entity (RCE) and help develop the Trusted Exchange Framework and Common Agreement to support nationwide exchange of health information.

$1.2Mprogram expense
03

Annual fees and dues, network and product testing and conferences - The Organization serves its members through the development, sharing and assistance with implementation of practical solutions to health data exchange challenges.

$441Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$6.2M
Ln 12
Fees for servicesLn 2g$5.8M
Gifts and grantsLn 1h$380K
Other incomeLn 4–11$2K
Money outPt IX
$5.6M
Ln 25
Programscol B$3.9M
Managementcol C$1.7M
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$3.0M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
26
listed · VII A
PaidVII A10
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$380K
Government grantsLn 1e$350K
Fees for servicesLn 2g$5.8M
Investment incomeLn 3$201
Other incomeLn 4–11$2K
Total revenueLn 12$6.2M
Assets in detailPt X, end of year
CashLn 1$1.5M
SavingsLn 2$403K
Cash and savings togetherLn 1–2$1.9M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$780K
Total assetsLn 16$3.0M
LiabilitiesLn 26$1.2M
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 525
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.4M$1.9M
Land, buildings, equipmentLn 10c$378$0
Total assetsLn 16$2.4M$3.0M
LiabilitiesLn 26$1.2M$1.2M
Net assetsLn 32$1.2M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.4M$1.0M$386K
Other salaries and wagesLn 7$1.9M$1.4M$488K
Pension plan contributionsLn 8$75K$37K$38K
Other employee benefitsLn 9$235K$120K$115K
Payroll taxesLn 10$198K$150K$48K
Legal feesLn 11b$55K$55K
Accounting feesLn 11c$71K$71K
Other fees for servicesLn 11g$1.1M$1.0M$81K
Advertising and promotionLn 12$113K$113K
Office expensesLn 13$18K$18K
Information technologyLn 14$274K$274K
OccupancyLn 16$28K$28K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$81K$81K
Depreciation, depletion and amortizationLn 22$377$377
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$5.6M$3.9M$1.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.8M$6.7M$80K$2.2M 990 PDF
FY2023 $4.6M$4.6M$15K$2.1M 990 PDF
FY2022 $7.2M$6.9M$330K$2.1M 990 PDF
FY2021 Viewing $6.2M$5.6M$572K$1.8M 990 PDF
FY2020 $4.6M$4.8M−$116K$1.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $6,201,821 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$380,400
I-9 Program service revenuePrior year $4,625,669$5,819,666
I-10 Investment incomePrior year $1,237$201
I-11 Other revenuePrior year $20,001$1,554
I-12 Total revenuePrior year $4,646,907$6,201,821
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,670,239$3,841,095
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,092,840$1,788,746
I-18 Total expensesPrior year $4,763,079$5,629,841
I-19 Revenue less expensesPrior year −$116,172$571,980
Part VI · Governance 16 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,201,821 across 7 lines filed
VIII-1e Government grants$350,400
VIII-1f All other contributions, gifts and grants$30,000
VIII-1h Total contributions, gifts and grants$380,400
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,819,666$5,819,666
VIII-3 Investment incomeExcluded from tax $201$201
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,554$1,554
VIII-12 Total revenueRelated to mission $5,819,666 · Unrelated business $0 · Excluded from tax $1,755$6,201,821
Part IX · Statement of functional expenses $5,629,841 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,034,591 · Management $386,271$1,420,862
IX-7 Other salaries and wagesPrograms $1,424,287 · Management $487,527$1,911,814
IX-8 Pension plan contributionsPrograms $36,791 · Management $38,255$75,046
IX-9 Other employee benefitsPrograms $120,332 · Management $114,861$235,193
IX-10 Payroll taxesPrograms $149,954 · Management $48,226$198,180
IX-11b Legal feesPrograms $54,969$54,969
IX-11c Accounting feesManagement $71,191$71,191
IX-11g Other fees for servicesPrograms $1,031,623 · Management $80,652$1,112,275
IX-12 Advertising and promotionManagement $113,149$113,149
IX-13 Office expensesManagement $18,313$18,313
IX-14 Information technologyManagement $273,866$273,866
IX-16 OccupancyManagement $28,259$28,259
IX-17 TravelPrograms $1,262$1,262
IX-19 Conferences, conventions and meetingsPrograms $81,403$81,403
IX-22 Depreciation, depletion and amortizationManagement $377$377
IX-23 InsuranceManagement $29,885$29,885
IX-24 Other expenses (24a–d)Management $3,797$3,797
IX-25 Total functional expensesPrograms $3,935,212 · Management $1,694,629 · Fundraising $0$5,629,841
Part X · Balance sheet $2,982,102 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $956,313$1,544,995
X-2 Savings and temporary cash investmentsStart of year $402,700$402,752
X-4 Accounts receivableStart of year $96,553$221,120
X-9 Prepaid expenses and deferred chargesStart of year $72,715$32,909
X-10c Land, buildings and equipment, netStart of year $378$0
X-15 Other assetsStart of year $859,294$780,326
X-16 Total assetsStart of year $2,387,953$2,982,102
X-17 Accounts payable and accrued expensesStart of year $448,683$673,370
X-19 Deferred revenueStart of year $302,748$416,486
X-25 Other liabilitiesStart of year $106,188$140,332
X-26 Total liabilitiesStart of year $1,208,019$1,230,188
X-27 Net assets without donor restrictionsStart of year $1,179,934$1,751,914
X-32 Total net assets or fund balancesStart of year $1,179,934$1,751,914
X-33 Total liabilities and net assetsStart of year $2,387,953$2,982,102
Part XI · Reconciliation of net assets $1,751,914 net assets at year end
XI-1 Total revenue$6,201,821
XI-2 Total expenses$5,629,841
XI-3 Revenue less expenses$571,980
XI-4 Net assets at start of year$1,179,934
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,751,914

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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