Washington Federal Foundation
Washington Federal Foundation experiences significant year-to-year financial volatility with recent asset decline.
EIN: 208777284 · Seattle, WA · NTEE: T21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $1.2M |
| Program Spending | 85% |
| Net Assets | $631K |
| Transparency Score | 75/100 |
Is Washington Federal Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Washington Federal Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Washington Federal Foundation
Washington Federal Foundation (EIN: 208777284) is a nonprofit organization based in Seattle, WA, classified under NTEE code T21. The organization reported total revenue of $2.0M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Washington Federal Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Washington Federal Foundation is a mid-size nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 58.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $417K |
| Total Expenses | $1.2M |
| Surplus / Deficit | $-761,154 |
| Total Assets | $631K |
| Total Liabilities | $1 |
| Net Assets | $631K |
| Operating Margin | -182.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 6.4 months |
Financial Health Grade: B
In 2023, Washington Federal Foundation reported a deficit of $761K with expenses exceeding revenue, holds 6.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Washington Federal Foundation's revenue has grown at a compound annual growth rate (CAGR) of 58.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -76.6% | +41.4% | -54.7% |
| 2022 | +78.0% | -15.8% | +213.5% |
| 2021 | -42.9% | -51.5% | +2.6% |
| 2020 | +249.3% | +130.6% | -40.1% |
| 2019 | +55952.3% | +310.3% | +49.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Washington Federal Foundation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Washington Federal Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $761K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly favorable for donor confidence and resource allocation to programs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Washington Federal Foundation's IRS 990 filings:
- Significant deficit spending in 2023 ($1,177,748 expenses vs. $416,594 revenue).
- Substantial year-over-year asset decline from $1,392,299 in 2022 to $631,145 in 2023.
- High volatility in annual revenue and expenses, making financial planning potentially challenging.
Strengths
The following positive indicators were identified for Washington Federal Foundation:
- Consistently reports 0% officer compensation, indicating efficient use of funds for mission.
- Maintains very low liabilities across all reported periods, suggesting good financial management of debt.
- Strong revenue generation in certain years (e.g., $1,780,890 in 2022) demonstrates capacity for significant funding.
Frequently Asked Questions about Washington Federal Foundation
Is Washington Federal Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Washington Federal Foundation (EIN: 208777284) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Washington Federal Foundation spend its money?
Washington Federal Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Washington Federal Foundation tax-deductible?
Washington Federal Foundation is registered as a tax-exempt nonprofit (EIN: 208777284). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Washington Federal Foundation's spending goes to programs?
Washington Federal Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Washington Federal Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Washington Federal Foundation is above average for NTEE category T21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Washington Federal Foundation located?
Washington Federal Foundation is headquartered in Seattle, Washington and files with the IRS under EIN 208777284. It is classified under NTEE code T21.
How many years of IRS 990 filings does Washington Federal Foundation have?
Washington Federal Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.0M in total revenue.
What caused the significant drop in assets from $1,392,299 in 2022 to $631,145 in 2023?
The substantial decrease in assets is primarily due to expenses ($1,177,748) far exceeding revenue ($416,594) in the 2023 fiscal period, indicating a significant draw-down on reserves or prior year's accumulated funds to cover operational and programmatic costs.
How does the foundation manage its grant-making given the high variability in annual revenue?
The significant fluctuations in revenue suggest the foundation may either adjust its grant-making capacity annually based on available funds or rely on accumulated assets from strong revenue years (like 2022) to sustain operations during leaner periods (like 2023).
What is the primary source of the foundation's revenue, given its name and NTEE code?
Given the name 'Washington Federal Foundation' and the NTEE code T21 (Corporate Foundations), it is highly probable that the primary source of revenue is contributions from Washington Federal Bank or related corporate entities, rather than public fundraising.
Filing History
IRS 990 filing history for Washington Federal Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Washington Federal Foundation's revenue has grown by 24935.7%, moving from $2K to $417K. Total assets increased by 61.7% over the same period, from $390K to $631K. Total functional expenses rose by 3217.6%, from $36K to $1.2M. In its most recent filing year (2023), Washington Federal Foundation reported a deficit of $761K, with expenses exceeding revenue. The organization holds $1 in liabilities against $631K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $631K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $417K | $1.2M | $631K | $1 | — | View 990 |
| 2022 | $1.8M | $833K | $1.4M | $1 | — | View 990 |
| 2021 | $1.0M | $989K | $444K | $1 | — | View 990 |
| 2020 | $1.8M | $2.0M | $433K | $1 | — | View 990 |
| 2019 | $501K | $885K | $723K | $0 | — | View 990 |
| 2015 | $894 | $216K | $484K | $0 | — | View 990 |
| 2014 | $2K | $198K | $699K | $0 | — | View 990 |
| 2013 | $751K | $260K | $895K | $0 | — | View 990 |
| 2012 | $51K | $38K | $404K | $0 | — | View 990 |
| 2011 | $2K | $36K | $390K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $417K, expenses of $1.2M, and assets of $631K (revenue -76.6% year-over-year).
- 2022: Revenue of $1.8M, expenses of $833K, and assets of $1.4M (revenue +78.0% year-over-year).
- 2021: Revenue of $1.0M, expenses of $989K, and assets of $444K (revenue -42.9% year-over-year).
- 2020: Revenue of $1.8M, expenses of $2.0M, and assets of $433K (revenue +249.3% year-over-year).
- 2019: Revenue of $501K, expenses of $885K, and assets of $723K (revenue +55952.3% year-over-year).
- 2015: Revenue of $894, expenses of $216K, and assets of $484K (revenue -44.0% year-over-year).
- 2014: Revenue of $2K, expenses of $198K, and assets of $699K (revenue -99.8% year-over-year).
- 2013: Revenue of $751K, expenses of $260K, and assets of $895K (revenue +1366.7% year-over-year).
- 2012: Revenue of $51K, expenses of $38K, and assets of $404K (revenue +2978.1% year-over-year).
- 2011: Revenue of $2K, expenses of $36K, and assets of $390K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Washington Federal Foundation:
Data Sources and Methodology
This transparency report for Washington Federal Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.