GOWEST FOUNDATION
Mission Statement
The GoWest Foundation works with credit unions and community partners throughout Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming to provide solutions to pressing issues impacting the financial health of the people and communities they serve. As not-for-profit cooperative financial institutions, credit unions are leading a movement that connects consumers with the opportunities they need to achieve financial prosperity. To further these efforts, we support credit union projects on a variety of initiatives, including financial reality fair kits to promote financial capability among youth, workforce housing grants to push innovative solutions to local challenges, and professional development opportunities to help credit unions build a strong bench of leaders.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
94.0% | 87.5% |
P10P90
|
Top quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
6.1% | 11.1% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.2% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
9.6 mo | 6.6 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
12.1% | 32.8% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
97.7% | 92.7% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
518.6% | 7.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
726.1% | 6.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
4.1% | 1.6% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $13.5M | $12.9M | $10.4M | 94.0% | 0 |
| 2023 | $2.2M | $1.6M | $9.4M | 66.9% | 0 |
| 2022 | $1.3M | $906K | $8.0M | 70.5% | 0 |
| 2021 | $2.6M | $903K | N/A | — | 0 |
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