Seattle Colleges Foundation
- Assets
- $46.2m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 12/2018
- Data as of
- 06/2023
- EIN
- 83-0551671
Organization Overview
Seattle Colleges Foundation is located in Seattle, WA. The organization was established in 2018. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Colleges 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 06/2023, Seattle Colleges Foundation generated $10.1m in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE CATALYZE COMMUNITY SUPPORT TO ADVANCE THE MISSION, WORK AND IMPACT OF SEATTLE COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS: SEATTLE COLLEGES IS AN INCLUSIVE, OPEN-ACCESS INSTITUTION, AND WE RECOGNIZE THAT SIGNIFICANT GAPS IN EDUCATIONAL ATTAINMENT PERSIST FOR FIRST-GENERATION STUDENTS, STUDENTS OF COLOR, AND STUDENTS FACING ECONOMIC CHALLENGES. SCHOLARSHIPS REMOVE FINANCIAL BARRIERS TO COLLEGE ENROLLMENT, REDUCE STUDENT DEBT, AND CORRELATE WITH CERTIFICATE/DEGREE COMPLETION, CAREER ATTAINMENT, AND A HIGHLY QUALIFIED WORK FORCE. WE GRANTED 752 SCHOLARSHIPS DURING THE FISCAL YEAR.
ACADEMIC PROGRAM SUPPORT: SEATTLE COLLEGES PROVIDES A COMPREHENSIVE ARRAY OF HIGH QUALITY ASSOCIATE'S, BACHELOR'S, AND TECHNICAL AND PROFESSIONAL DEGREE PROGRAMS. PROGRAM GRANTS FORTIFY PROVEN STUDENT SUCCESS INITIATIVES, UPDATE ACADEMIC PROGRAM OFFERINGS, ENHANCE PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR FACULTY AND STAFF, AND MODERNIZE STATE-OF-THE-ART FACILITIES AND TECHNOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerry Howell Chief Executive Officer | Officer | 40 | $208,710 |
Michael Beneke Director Of Communications | Officer | 40 | $135,295 |
Traci Russell Executive Director | Officer | 36 | $120,959 |
Jon Fine Chair | OfficerTrustee | 3 | $0 |
Jackie Martinez-Vasquez Vice Chair | OfficerTrustee | 3 | $0 |
Mike Hughes Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,025,843 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,466,160 |
| Noncash contributions included in lines 1a–1f | $12,699 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,492,003 |
| Total Program Service Revenue | $0 |
| Investment income | $869,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,782 |
| Net Income from Fundraising Events | -$287,571 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,086,736 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,979,957 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,408 |
| Fees for services: Accounting | $384,274 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,196 |
| Fees for services: Other | $415,775 |
| Advertising and promotion | $8,033 |
| Office expenses | $36,501 |
| Information technology | $99,483 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,386 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,901 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,623,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,860 |
| Savings and temporary cash investments | $8,143,886 |
| Pledges and grants receivable | $5,947,107 |
| 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 | $14,423 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $31,463,473 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,195,749 |
| Accounts payable and accrued expenses | $594,428 |
| Grants payable | $1,422,637 |
| 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 | $2,017,065 |
| Net assets without donor restrictions | $5,862,404 |
| Net assets with donor restrictions | $38,316,280 |
| 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 | $46,195,749 |