Karl Arthur Severson Foundation
- Assets
- $183.0k
- Revenue
- $8.4k
- Investments
- $86.1k
- Employees
- 0
- Location
- Gig Harbor, WA
- Founding
- 12/2015
- Data as of
- 12/2023
- EIN
- 47-4889087
Organization Overview
Karl Arthur Severson Foundation is located in Gig Harbor, WA. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Karl Arthur Severson 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 12/2023, Karl Arthur Severson Foundation generated $8.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (26.3%) each year. All expenses for the organization totaled $61.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Karl Arthur Severson Foundation has awarded 41 individual grants totaling $228,140. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Severson Co-Founder | 5 | $0 | |
Madelon Severson Co-Founder | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,400 |
| Interest on Savings | $0 |
| 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 | $8,400 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,923 |
| Total operating and administrative expenses | $8,923 |
| Contributions, gifts, grants paid | $52,148 |
| Total expenses and disbursements | $61,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,216 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $12,700 |
| Total assets | $182,985 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Karl Arthur Severson Foundation has awarded $52,148 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
BRETT LOEB PURPOSE: TO COVER SKI EXPENSES | $2,000 |
HUTCH HUTCHINSON PURPOSE: TO COVER SKI EXPENSES | $6,000 |
GALENA WARDLE PURPOSE: TO COVER SKI EXPENSES | $10,000 |
KATHERINE A FRANCIS PURPOSE: TO COVER SKI EXPENSES | $5,750 |
THOMAS ROENNAU PURPOSE: TO COVER SKI EXPENSES | $6,000 |
ASPEN HIGH SCHOOL PURPOSE: PSIA-AASI EVENT REGISTRATION | $5,880 |