Icicle Fund FY2023 filing

Tax-deductible

Leavenworth, WA501(c)(3)Arts & CultureEIN 91-1943099

The mission of the icicle fund is to support the environment, the arts and history through innovative collaboration in north central washington.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
$101K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

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
1 of 4
filings with a surplus
Average surplus $2.2M a year · 45% of revenue · last 4 filings
Worth a look: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$101K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$815K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 9 voting members
Worth a look: 3 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.0M
+546% vs prior year
Spent
$2.4M
To programs
93%
Net assets
$49.2M
By yearFY2021–FY2024
Revenue
$14.0M
FY2023▲ +546%
Revenue by fiscal year
FY2021$1.1M
FY2022$2.2M
FY2023$14.0M
FY2024$2.4M
FY2024$369K
Expenses
$2.4M
FY2023▼ -13%
Expenses by fiscal year
FY2021$2.5M
FY2022$2.8M
FY2023$2.4M
FY2024$3.1M
FY2024$685K
Net assets
$49.2M
FY2023▲ +41%
Net assets by fiscal year
FY2021$42.4M
FY2022$35.0M
FY2023$49.2M
FY2024$51.0M
FY2024$51.6M

From the FY2023 Form 990 (year ending June 2023) · see the original

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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 May 1999.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $2.3M Management & general 7% · $163K

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

Who runs it and what they're paid

14 people listed on the 990; $101K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$101,293Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Christine Morgan’s $165K as Executive Director Thru 10/31/24 is at the 99th percentile of top reported officer pay among 2216 $100K–1M arts & culture 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Christine Morgan$164,650$112,000$101,293$93,224—
Christine Morgan————$86,889

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 Icicle Fund 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 15aYes

Programs and updates

Awards grants to support environmental conservation, the arts, and cultural history through collaborative nonprofit partnerships in North Central Washington.

Provided by the organization

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1 program service account for $2.3M of program spending, described in the organization's own filed words · FY2022.
01

Protect the environment, advance the appreciation of the arts, and promote the natural and cultural history of the wenatchee river watershed and the greater north central washington region, by supporting chelan-douglas land trust, the nature conservancy, the trust for public land, icicle creek center for the arts, wenatchee river…

$2.3Mprogram expense

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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 · FY2024
Total grants receivedfrom 1 funder$6K
Grants paid · 134 grants · $9.7M · 2020–2024
The Nature ConservancyVA · FY2024$292,000
Chelan-Douglas Land TrustWA · FY2024$53,900
Wenatchee River InstituteWA · FY2024$50,600
Icicle Creek Center for the ArtsWA · FY2023$1,288,000
Wenatchee River InstituteWA · FY2023$320,000
Chelan-Douglas Land TrustWA · FY2023$239,091
The Trust for Public LandCA · FY2023$228,000
Methow Arts AllianceWA · FY2023$183,500
The Nature ConservancyVA · FY2023$120,000
Stage KidsWA · FY2023$25,000
Washington Water TrustWA · FY2023$24,000
Sustainable NcwWA · FY2023$20,000
Home Range Wildlife ResearchWA · FY2023$20,000
Trout Unlimited INCVA · FY2023$15,000
See all 134 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$14.0M
Ln 12
Gifts and grantsLn 1h$13.1M
Investment incomeLn 3$1.3M
Money outPt IX
$2.4M
Ln 25
Programscol B$2.3M
Managementcol C$163K
Owns and owesPt X
$49.2M
net assets · Ln 32
Cash and savingsLn 1–2$177K
Total assetsLn 16$50.1M
LiabilitiesLn 26$815K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13.1M
Investment incomeLn 3$1.3M
Gains on assetsLn 7$291K
Total revenueLn 12$14.0M
Assets in detailPt X, end of year
SavingsLn 2$177K
Cash and savings togetherLn 1–2$177K
InvestmentsLn 11–13$49.9M
Land, buildings, equipmentLn 10c$21K
Total assetsLn 16$50.1M
LiabilitiesLn 26$815K
Net assetsLn 32$49.2M
OperationsPt I, VI
EmployeesI 51
VolunteersI 621
Fiscal year endsHeaderJune
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$212K$177K
InvestmentsLn 11–13$35.0M$49.9M
Land, buildings, equipmentLn 10c$21K$21K
Total assetsLn 16$35.2M$50.1M
LiabilitiesLn 26$259K$815K
Net assetsLn 32$35.0M$49.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.1M$2.1M
Pay of current officers, directors and key staffLn 5$120K$72K$48K
Pension plan contributionsLn 8$4K$2K$1K
Other employee benefitsLn 9$12K$7K$5K
Payroll taxesLn 10$10K$6K$4K
Legal feesLn 11b$275$275
Accounting feesLn 11c$16K$16K
Investment management feesLn 11f$67K$67K
Other fees for servicesLn 11g$73K$73K
Office expensesLn 13$3K$1K$1K
Information technologyLn 14$9K$4K$4K
Conferences, conventions and meetingsLn 19$29K$17K$12K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$17K$15K$2K
Total functional expensesLn 25$2.4M$2.3M$163K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $2.4M$3.1M−$749K$51.0M 990 PDF
FY2023 Viewing $14.0M$2.4M$11.6M$49.2M 990 PDF
FY2022 $2.2M$2.8M−$629K$35.0M 990 PDF
FY2021 $1.1M$2.5M−$1.4M$42.4M 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 (4 parts)
Part VIII · Statement of revenue $14,031,984 across 6 lines filed
VIII-1f All other contributions, gifts and grants$13,057,096
VIII-1h Total contributions, gifts and grants$13,057,096
VIII-3 Investment incomeExcluded from tax $1,056,012$1,056,012
VIII-6 Net rental income or lossRelated to mission −$371,947−$371,947
VIII-7 Net gain or loss on sales of assetsExcluded from tax $290,823$290,823
VIII-12 Total revenueRelated to mission −$371,947 · Unrelated business $0 · Excluded from tax $1,346,835$14,031,984
Part IX · Statement of functional expenses $2,425,604 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $2,064,222$2,064,222
IX-5 Pay of current officers, directors and key staffPrograms $71,732 · Management $47,821$119,553
IX-8 Pension plan contributionsPrograms $2,145 · Management $1,430$3,575
IX-9 Other employee benefitsPrograms $7,174 · Management $4,783$11,957
IX-10 Payroll taxesPrograms $5,741 · Management $3,828$9,569
IX-11b Legal feesManagement $275$275
IX-11c Accounting feesManagement $15,573$15,573
IX-11f Investment management feesManagement $67,320$67,320
IX-11g Other fees for servicesPrograms $72,803$72,803
IX-13 Office expensesPrograms $1,461 · Management $1,461$2,922
IX-14 Information technologyPrograms $4,316 · Management $4,316$8,632
IX-19 Conferences, conventions and meetingsPrograms $17,455 · Management $11,635$29,090
IX-23 InsuranceManagement $3,317$3,317
IX-24 Other expenses (24a–d)Programs $15,216 · Management $1,580$16,796
IX-25 Total functional expensesPrograms $2,262,265 · Management $163,339 · Fundraising $0$2,425,604
Part X · Balance sheet $50,061,150 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $212,010$176,830
X-4 Accounts receivableStart of year $1,186$1,037
X-9 Prepaid expenses and deferred charges$10,744
X-10c Land, buildings and equipment, netStart of year $20,939$20,939
X-11 Publicly traded securitiesStart of year $26,965,470$40,676,970
X-12 Other securitiesStart of year $1,751,894$2,951,894
X-13 Program-related investmentsStart of year $6,264,937$6,222,736
X-16 Total assetsStart of year $35,216,436$50,061,150
X-17 Accounts payable and accrued expensesStart of year $30,528$23,778
X-18 Grants payableStart of year $228,341$791,697
X-26 Total liabilitiesStart of year $258,869$815,475
X-32 Total net assets or fund balancesStart of year $34,957,567$49,245,675
X-33 Total liabilities and net assetsStart of year $35,216,436$50,061,150
Part XI · Reconciliation of net assets $49,245,675 net assets at year end
XI-1 Total revenue$14,031,984
XI-2 Total expenses$2,425,604
XI-3 Revenue less expenses$11,606,380
XI-4 Net assets at start of year$34,957,567
XI-5 Net unrealized gains (losses) on investments$2,549,910
XI-9 Other changes in net assets$131,818
XI-10 Net assets at end of year$49,245,675

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

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