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Spokane Area Business Foundation

Tax-deductible

Spokane, WA501(c)(3)Community Development EIN 91-1896341Revenue $79K in FY2024

On file with the IRS801 W Riverside Ave Ste 200, 99201-0908 · Spokane, WATax-exempt since Sep 1998Supporting organization — 509(a)(3)

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The purpose of the Spokane Area Business Foundation is to advance the quality of life in the greater Spokane region by building support for programs that strengthen education, develop civic leadership, support cultural diversity, improve economic and community research, and build civic capital.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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 $122K a year · 51% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
33 mo
of spending, in cash
Looks good: 32.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$84K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$79K
-88% vs prior year
Spent
$277K
To programs
91%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$79K
FY2024▼ -88%
Tap a bar for its year
Revenue by fiscal year
FY2020$93K
FY2021$61K
FY2022$273K
FY2023$680K
FY2024$79K
Expenses
$277K
FY2024▲ +184%
Tap a bar for its year
Expenses by fiscal year
FY2020$81K
FY2021$51K
FY2022$70K
FY2023$98K
FY2024$277K
Net assets
$1.1M
FY2024▲ +48%
Tap a bar for its year
Net assets by fiscal year
FY2020$352K
FY2021$362K
FY2022$567K
FY2023$741K
FY2024$1.1M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1998.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $253K Management & general 9% · $24K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Alisha Benson
CEO & Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Charlotte Nemec
Chair-Elect
$0Pt VII · Sec A
Dan Demchuk
Secretary/Treasurer
$0Pt VII · Sec A
Carla Cicero
Past Chair
$0Pt VII · Sec A
William Symmes
General Counsel
$0Pt VII · Sec A
See Spokane Area Business 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Strengthens education, leadership, culture, and economic research to improve regional quality of life.

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Provided by the organization

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3 programs · $253K · in their own filed words · FY2024
01

Believe Spokane is a five-year campaign to increase economic vitality with a focus on economic development and talent attraction and retention focused on growth, equity, and agility.

$207Kprogram expense
02

Operation Spokane Heroes

Volunteer Committee identifies and fulfills needs of veterans based upon referrals from other organizations that provide services to veterans.

$46Kprogram expense
03

As part of the mission to support education and community research, Spokane Area Business Foundation occasionally holds events. No events were held in 2024.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Innovia FoundationFY2023$15K
Total grants receivedfrom 1 funder$15K
Grants paid · 5 grants · $256K · 2020–2024
Unitemized GrantFY2024$120,000
Unitemized GrantFY2023$59,084
Unitemized GrantFY2021$30,388
Spokane Regional Chamber of CommerceWA · FY2021$20,718
Unitemized GrantFY2020$25,747

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$79K
Ln 12
Gifts and grantsLn 1h$60K
Investment incomeLn 3$19K
Money outPt IX
$277K
Ln 25
Programscol B$253K
Managementcol C$24K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$754K
Total assetsLn 16$1.2M
LiabilitiesLn 26$84K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$60K
Investment incomeLn 3$19K
Total revenueLn 12$79K
Assets in detailPt X, end of year
CashLn 1$754K
Cash and savings togetherLn 1–2$754K
Other assetsLn 15$9K
Total assetsLn 16$1.2M
LiabilitiesLn 26$84K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$843K$754K
Total assetsLn 16$843K$1.2M
LiabilitiesLn 26$102K$84K
Net assetsLn 32$741K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Grants to domestic individualsLn 2$151K$151K
Other fees for servicesLn 11g$78K$78K
Advertising and promotionLn 12$20K$20K
TravelLn 17$3K$3K
Conferences, conventions and meetingsLn 19$10K$10K
Total functional expensesLn 25$277K$253K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $79K$277K−$197K$1.1M 990 PDF
FY2023 $680K$98K$583K$741K 990 PDF
FY2022 $273K$70K$203K$567K 990 PDF
FY2021 $61K$51K$10K$362K 990 PDF
FY2020 $93K$81K$11K$352K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $79,356 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $676,183$60,477
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $4,065$18,879
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $680,248$79,356
I-13 Grants and similar amounts paidPrior year $59,084$165,640
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $38,341$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $82$110,948
I-18 Total expensesPrior year $97,507$276,588
I-19 Revenue less expensesPrior year $582,741−$197,232
Part VI · Governance 5 of 6 board members independent, 5 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $79,356 across 4 lines filed
VIII-1f All other contributions, gifts and grants$60,477
VIII-1h Total contributions, gifts and grants$60,477
VIII-3 Investment incomeExcluded from tax $18,879$18,879
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $18,879$79,356
Part IX · Statement of functional expenses $276,588 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $14,500$14,500
IX-2 Grants to domestic individualsPrograms $151,140$151,140
IX-11g Other fees for servicesPrograms $77,530$77,530
IX-12 Advertising and promotionManagement $20,366$20,366
IX-17 TravelManagement $3,220$3,220
IX-19 Conferences, conventions and meetingsPrograms $9,832$9,832
IX-25 Total functional expensesPrograms $253,002 · Management $23,586 · Fundraising $0$276,588
Part X · Balance sheet $1,179,208 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $843,025$754,359
X-3 Pledges and grants receivableStart of year $0$408,430
X-9 Prepaid expenses and deferred chargesStart of year $0$7,826
X-15 Other assetsStart of year $0$8,593
X-16 Total assetsStart of year $843,025$1,179,208
X-17 Accounts payable and accrued expensesStart of year $7,202$4,000
X-25 Other liabilitiesStart of year $95,000$80,187
X-26 Total liabilitiesStart of year $102,202$84,187
X-27 Net assets without donor restrictionsStart of year $692,719$299,725
X-28 Net assets with donor restrictionsStart of year $48,104$795,296
X-32 Total net assets or fund balancesStart of year $740,823$1,095,021
X-33 Total liabilities and net assetsStart of year $843,025$1,179,208
Part XI · Reconciliation of net assets $1,095,021 net assets at year end
XI-1 Total revenue$79,356
XI-2 Total expenses$276,588
XI-3 Revenue less expenses−$197,232
XI-4 Net assets at start of year$740,823
XI-9 Other changes in net assets$551,430
XI-10 Net assets at end of year$1,095,021

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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