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Thetis Foundation FY2022 filing

Tax-deductible

Sumas, WA501(c)(3)EIN 91-1126137Revenue −$311K in FY2022

On file with the IRSPo Box 499, 98295-0499 · Sumas, WATax-exempt since Apr 1981Supporting organization — 509(a)(3)

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The Thetis Foundation is to be operated exclusively to carry out the purposes of the North America Indian Mission (NAIM), Inc., a non-profit, religious and educational corporation of the state of Washington. The Thetis Foundation primarily supplies grant funding for specific activities and projects of NAIM, Inc.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
3 of 4
filings with a surplus
Average surplus $47K a year · 26% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
46 mo
of spending, in cash
Looks good: 46.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$311K
-391% vs prior year
Spent
$137K
To programs
100%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
−$311K
FY2022▼ -391%
Tap a bar for its year
Revenue by fiscal year
FY2020$107K
FY2022−$311K
FY2023$438K
FY2024$495K
Expenses
$137K
FY2022▲ +32%
Tap a bar for its year
Expenses by fiscal year
FY2020$104K
FY2022$137K
FY2023$137K
FY2024$163K
Net assets
$2.7M
FY2022▲ +0.9%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.7M
FY2022$2.7M
FY2023$3.0M
FY2024$3.3M

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 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 Apr 1981.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $137K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Kent Lottis
President
$0Pt VII · Sec A
Edward Clibbon
Vice-President
$0Pt VII · Sec A
David Crumbo
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
David Cowan
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Thetis Foundation 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

Programs and updates

Provides grants for religious and educational projects of the North America Indian Mission.

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Provided by the organization

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1 program · $137K · in their own filed words · FY2022
01

Operating expenses to steward net assets invested for grant purposes.

$137Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $434K · 2020–2024
North America Indian Mission INCWA · FY2024$132,800
North America Indian Mission INCWA · FY2023$110,000
North America Indian Mission INCWA · FY2022$110,150
North America Indian Mission INCWA · FY2020$81,350

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$311K
Ln 12
Investment incomeLn 3−$311K
Money outPt IX
$137K
Ln 25
Programscol B$137K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$530K
Total assetsLn 16$2.7M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Investment incomeLn 3−$311K
Gains on assetsLn 7$0
Total revenueLn 12−$311K
Assets in detailPt X, end of year
CashLn 1$208K
SavingsLn 2$322K
Cash and savings togetherLn 1–2$530K
InvestmentsLn 11–13$2.2M
Total assetsLn 16$2.7M
LiabilitiesLn 26$0
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY22End FY22
Cash and savingsLn 1–2$254K$530K
InvestmentsLn 11–13$2.9M$2.2M
Total assetsLn 16$3.2M$2.7M
LiabilitiesLn 26$335$0
Net assetsLn 32$3.2M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$110K$110K
Investment management feesLn 11f$27K$27K$0
Total functional expensesLn 25$137K$137K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $495K$163K$331K$3.3M 990 PDF
FY2023 $438K$137K$302K$3.0M 990 PDF
FY2022 Viewing −$311K$137K−$448K$2.7M 990 PDF
FY2021 Not on file
FY2020 $107K$104K$3K$2.7M 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 FY2022 990 (6 parts)
Part I · Summary −$311,179 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $555,018−$311,179
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $555,018−$311,179
I-13 Grants and similar amounts paidPrior year $56,000$110,150
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $26,149$26,924
I-18 Total expensesPrior year $82,149$137,074
I-19 Revenue less expensesPrior year $472,869−$448,253
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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
Part VIII · Statement of revenue −$311,179 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission −$311,179 · Unrelated business $0 · Excluded from tax $0−$311,179
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission −$311,179 · Unrelated business $0 · Excluded from tax $0−$311,179
Part IX · Statement of functional expenses $137,074 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $110,150$110,150
IX-11f Investment management feesPrograms $26,924 · Management $0$26,924
IX-25 Total functional expensesPrograms $137,074 · Management $0 · Fundraising $0$137,074
Part X · Balance sheet $2,713,874 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $148,736$208,037
X-2 Savings and temporary cash investmentsStart of year $105,000$322,038
X-11 Publicly traded securitiesStart of year $2,450,623$2,150,399
X-12 Other securitiesStart of year $458,103$33,400
X-16 Total assetsStart of year $3,162,462$2,713,874
X-26 Total liabilitiesStart of year $335$0
X-27 Net assets without donor restrictionsStart of year $3,162,127$2,713,874
X-32 Total net assets or fund balancesStart of year $3,162,127$2,713,874
X-33 Total liabilities and net assetsStart of year $3,162,462$2,713,874
Part XI · Reconciliation of net assets $2,713,874 net assets at year end
XI-1 Total revenue−$311,179
XI-2 Total expenses$137,074
XI-3 Revenue less expenses−$448,253
XI-4 Net assets at start of year$3,162,127
XI-10 Net assets at end of year$2,713,874

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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