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Thetis Foundation FY2023 filing

Tax-deductible

Sumas, WA501(c)(3)EIN 91-1126137Revenue $438K in FY2023

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

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FY2023 · 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
24 mo
of spending, in cash
Looks good: 23.8 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
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$438K
+241% vs prior year
Spent
$137K
To programs
100%
Net assets
$3.0M
By yearFY2020–FY2024
Revenue
$438K
FY2023▲ +241%
Tap a bar for its year
Revenue by fiscal year
FY2020$107K
FY2022−$311K
FY2023$438K
FY2024$495K
Expenses
$137K
FY2023-0.3%
Tap a bar for its year
Expenses by fiscal year
FY2020$104K
FY2022$137K
FY2023$137K
FY2024$163K
Net assets
$3.0M
FY2023▲ +11%
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 FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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

5 people listed on the 990.

Part VII, Section A · reportable compensation
David Crumbo
Vice-President
$0Pt VII · Sec A
Kent Lottis
President
$0Pt VII · Sec A
David Cowan
Treasurer
$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 · FY2023
01

Grants to assist NAIM, Inc. and 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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$438K
Ln 12
Investment incomeLn 3$438K
Money outPt IX
$137K
Ln 25
Programscol B$137K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$272K
Total assetsLn 16$3.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$438K
Total revenueLn 12$438K
Assets in detailPt X, end of year
CashLn 1$272K
SavingsLn 2$0
Cash and savings togetherLn 1–2$272K
InvestmentsLn 11–13$2.7M
Total assetsLn 16$3.0M
LiabilitiesLn 26$0
Net assetsLn 32$3.0M
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 FY23End FY23
Cash and savingsLn 1–2$530K$272K
InvestmentsLn 11–13$2.2M$2.7M
Total assetsLn 16$2.7M$3.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.7M$3.0M
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 Viewing $438K$137K$302K$3.0M 990 PDF
FY2022 −$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 FY2023 990 (6 parts)
Part I · Summary $438,427 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 −$311,179$438,427
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year −$311,179$438,427
I-13 Grants and similar amounts paidPrior year $110,150$110,000
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 $26,924$26,706
I-18 Total expensesPrior year $137,074$136,706
I-19 Revenue less expensesPrior year −$448,253$301,721
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $438,427 across 2 lines filed
VIII-3 Investment incomeRelated to mission $438,427$438,427
VIII-12 Total revenueRelated to mission $438,427 · Unrelated business $0 · Excluded from tax $0$438,427
Part IX · Statement of functional expenses $136,706 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $110,000$110,000
IX-11f Investment management feesPrograms $26,706 · Management $0$26,706
IX-25 Total functional expensesPrograms $136,706 · Management $0 · Fundraising $0$136,706
Part X · Balance sheet $3,015,595 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $208,037$271,596
X-2 Savings and temporary cash investmentsStart of year $322,038$0
X-11 Publicly traded securitiesStart of year $2,150,399$2,743,999
X-12 Other securitiesStart of year $33,400$0
X-16 Total assetsStart of year $2,713,874$3,015,595
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $2,713,874$3,015,595
X-32 Total net assets or fund balancesStart of year $2,713,874$3,015,595
X-33 Total liabilities and net assetsStart of year $2,713,874$3,015,595
Part XI · Reconciliation of net assets $3,015,595 net assets at year end
XI-1 Total revenue$438,427
XI-2 Total expenses$136,706
XI-3 Revenue less expenses$301,721
XI-4 Net assets at start of year$2,713,874
XI-10 Net assets at end of year$3,015,595

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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