Friends Of Seattle Waterfront
- Assets
- $34.3m
- Revenue
- $40.7m
- Investments
- $0.0
- Employees
- 59
- Location
- Seattle, WA
- Founding
- 04/2014
- Data as of
- 12/2023
- EIN
- 80-0867356
Organization Overview
Friends Of Seattle Waterfront, operating under the name Friends of Waterfront Seattle, is located in Seattle, WA. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Friends of Waterfront Seattle employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends of Waterfront Seattle 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, Friends of Waterfront Seattle generated $40.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 32.1% each year . All expenses for the organization totaled $33.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT, THROUGH OUTREACH, FUNDRAISING AND STEWARDSHIP, THE CITY'S WATERFRONT SEATTLE PROJECT: CREATION OF A PARK ALONG THE CENTRAL SHORELINE TO BENEFIT THE PUBLIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDS OF WATERFRONT SEATTLE IS THE NON-PROFIT PARTNER TO THE CITY OF SEATTLE TO HELP BUILD, OPERATE, PROGRAM, AND STEWARD THE FUTURE WATERFRONT PARK, SLATED TO OPEN IN 2025. 2023 EVENTS AND PROGRAMS SUMMARY DATA INCLUDES: 107 ACTIVATIONS IN WATERFRONT PARK 69,819 EVENT ATTENDEES PROGRAMS INVOLVED MORE THAN 200 PARTNERS THIS SEASON, INCLUDING APPROXIMATELY 40 EVENT PARTNERS, 70+ RETAIL AND FOOD CONCESSIONAIRES AND 100 ARTISTS AND ENTERTAINERS.
GRANT TO CITY OF SEATTLE FOR CAPITAL IMPROVEMENTS TO THE CENTRAL WATERFRONT PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Bass Director | Trustee | 1 | $0 |
Karla Brollier Director | Trustee | 1 | $0 |
Carol Binder Director | Trustee | 1 | $0 |
Tom Byers Director | Trustee | 1 | $0 |
Chris Devore Director | Trustee | 1 | $0 |
Leonard Forsman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Transwest Tranportation | 12/30/23 | $379,614 |
Honey Bucket Sanitation | 12/30/23 | $152,997 |
City Of Seattle Park Operations And Secrurity | 12/30/23 | $514,454 |
Campbell And Company Fundraing Counsel | 12/30/23 | $141,205 |
Axis Security Security | 12/30/23 | $547,905 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $685,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,920,294 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,605,294 |
| Total Program Service Revenue | $42,160 |
| Investment income | $1,050,248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,230 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,720,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,084,900 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $619,748 |
| Compensation of current officers, directors, key employees. | $125,775 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,657,205 |
| Pension plan accruals and contributions | $72,896 |
| Other employee benefits | $479,750 |
| Payroll taxes | $328,284 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $275,918 |
| Fees for services: Accounting | $90,419 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $118,255 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $196,702 |
| Advertising and promotion | $373,734 |
| Office expenses | $19,716 |
| Information technology | $92,808 |
| Royalties | $0 |
| Occupancy | $160,850 |
| Travel | $38,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,705 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $244,525 |
| Insurance | $45,763 |
| All other expenses | $307,649 |
| Total functional expenses | $33,808,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,598,558 |
| Savings and temporary cash investments | $16,507,008 |
| Pledges and grants receivable | $13,854,524 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $78,813 |
| Net Land, buildings, and equipment | $134,732 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,157,750 |
| Other assets | $0 |
| Total assets | $34,331,385 |
| Accounts payable and accrued expenses | $1,484,890 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,484,890 |
| Net assets without donor restrictions | $23,515,275 |
| Net assets with donor restrictions | $9,331,220 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $34,331,385 |
Grants Awarded
Over the last fiscal year, Friends Of Seattle Waterfront has awarded $25,065,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF SEATTLE PURPOSE: Capital Grant | $25,000,000 |
PIKE PLACE MARKET FOUNDATION PURPOSE: Community Programs | $35,000 |
SEATTLE AQUARIUM SOCIETY PURPOSE: Community Programs | $30,000 |