Friday Foundation
- Assets
- $32.8m
- Revenue
- $16.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Medina, WA
- Founding
- 10/2014
- Data as of
- 06/2021
- EIN
- 47-1889104
Organization Overview
Friday Foundation is located in Medina, WA. The organization was established in 2014. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friday Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Friday Foundation generated $16.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 23.4% each year . All expenses for the organization totaled $49.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Friday Foundation has awarded 25 individual grants totaling $596,401,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FRIDAY FOUNDATION BOARD OF DIRECTORS MET REGULARLY DURING THE FISCAL YEAR TO DISCUSS THE PARAMETERS FOR DONATING PORTIONS OF THE FINE ART COLLECTION TO QUALIFYING MUSEUMS AND EDUCATIONAL INSTITUTIONS IN ORDER TO ENSURE THE INTEGRITY OF THE COLLECTION. THE BOARD OF DIRECTORS ALSO MET WITH QUALIFYING MUSEUMS AND EDUCATIONAL INSTITUTIONS TO DETERMINE WHETHER THOSE ORGANIZATIONS WERE INTERESTED IN RECEIVING A PORTION OF THE COLLECTION AND EVALUATING THE SUITABILITY OF THOSE ORGANIZATIONS.THE REMAINING PIECES OF THE COLLECTION WERE DONATED TO TWO MUSEUMS DURING FISCAL YEAR JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Grinstein President, Treasurer | 5 | $0 | |
Donald Hussong Vice President, Secretary | 1 | $0 | |
George Steers Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perkins Coie Llp | 6/29/21 | $75,229 |
Nyhus Communications Llc | 6/29/21 | $257,200 |
Meta Arte Llc | 6/29/21 | $100,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16,602 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $16,602 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $231 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$11,892 |
| Total operating and administrative expenses | $539,632 |
| Contributions, gifts, grants paid | $48,521,500 |
| Total expenses and disbursements | $49,061,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,146 |
| Savings and temporary cash investments | $32,459,401 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $113,846 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,805,393 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $500 |
| Total liabilities | $500 |
Grants Awarded
Over the last fiscal year, Friday Foundation has awarded $48,521,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: TO SUPPORT THE MISSION OF CONNECTING ART TO LIFE, DEVELOP NEW EXHIBITIONS FOCUSED ON ART THAT EXCITES AND EDUCATES THE PUBLIC, BY DONATING A COLLECTION OF ABSTRACT EXPRESSIONISM AND MODERN MASTERPIECES. | $31,251,500 |
YALE UNIVERSITY ART GALLERY PURPOSE: TO CONTRIBUTE TO THE GALLERY'S VISION OF ACTIVATING THE POWER OF ART TO INSPIRE AND TO CREATE A MORE INCLUSIVE WORLD BY DONATING A COLLECTION OF ABSTRACT EXPRESSIONISM AND MODERN MASTERPIECES. | $13,040,000 |
Seattle, WA PURPOSE: TO FUND THE RICHARD E. LANG AND JANE LANG DAVIS ACQUISITION FUND FOR GLOBAL CONTEMPORARY ART. THIS FUND WILL ENABLE SAM TO CONTINUE ITS FOCUS ON BRINGING WORK BY EMERGING ARTISTS FROM ALL OVER THE WORLD TO ITS COLLECTION. | $2,200,000 |
Seattle, WA PURPOSE: TO ESTABLISH THE JANE LANG DAVIS CREATION FUND, AN ENDOWED FUND TO SUPPORT THE JANE LANG DAVIS CREATION LAB ANNUAL PROGRAMMING TO HELP USHER IN A MORE DIVERSE GENERATION OF STORYTELLERS IN OPERA, WITH A FOCUS ON COMPOSERS AND LIBRETTISTS AGES 18-30. | $1,000,000 |
Seattle, WA PURPOSE: TO CREATE AN ENDOWMENT FUND IN HONOR OF RICHARD E. LANG AND JANE LANG DAVIS TO ALLOW THE CONTEMPORARY ART MUSEUM TO COMMISSION A NEW WORK EVERY TWO YEARS. | $1,000,000 |
Seattle, WA PURPOSE: TO DEFRAY COSTS ASSOCIATED WITH DONATION OF MOTHERWELL AND SMITH ART PIECES. | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Knight Foundation Beaverton, OR | $3,232,383,420 | $1,963,443,063 |
Amazonsmile Foundation Seattle, WA | $32,322,159 | $94,115,479 |
Gates Philanthropy Partners Seattle, WA | $58,428,866 | $30,155,547 |
Paul G Allen Family Foundation Seattle, WA | $0 | $45,218,114 |
Friday Foundation Medina, WA | $32,805,393 | $16,602 |
Rasmuson Foundation Anchorage, AK | $851,377,242 | $102,826,089 |
J A & Kathryn Albertson Foundation Inc Boise, ID | $0 | $34,850,275 |
Intel Foundation Hillsboro, OR | $50,440,341 | $47,262 |
Roots And Wings Foundation Inc Seattle, WA | $315,937,030 | $249,888,695 |
Schultz Family Foundation Seattle, WA | $463,519,339 | $158,807,992 |
The Lemelson Foundation Portland, OR | $488,510,181 | $33,726,014 |
Norcliffe Foundation Seattle, WA | $18,121,640 | $25,144,033 |