Seafair Charitable Foundation
- Assets
- $1.0m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Seattle, WA
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 83-0783366
Organization Overview
Seafair Charitable Foundation is located in Seattle, WA. The organization was established in 2019. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Seafair Charitable Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seafair Charitable 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 12/2022, Seafair Charitable Foundation generated $3.8m in total revenue. All expenses for the organization totaled $3.5m during the year ending 12/2022. While expenses have increased by 59.7% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEAFAIR PROMOTES SOCIAL, CULTURAL AND COMMUNITY ACTIVITIES IN THE GREATER SEATTLE AREA. THE SEAFAIR MISSION IS CREATING MEMORIES, PROVIDING AFFORDABLE FUN AND UNITING COMMUNITIES. SEAFAIR PRODUCES THREE MAJOR EVENTS IN THE CITY OF SEATTLE WHERE THERE IS A FREE COMPONENT TO EACH EVENT MAKING IT ACCESSIBLE FOR ALL TO PARTICIPATE. THE EVENTS INCLUDE SEAFAIR SUMMER 4TH, TORCHLIGHT PARADE AND THE SEAFAIR WEEKEND FESTIVAL. SAFAIR ENGAGES WITH 30 COMMUNITY EVENTS, FESTIVALS AND PARADES REACHING KING AND SNOHOMISH COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phontel Shami Chair | OfficerTrustee | 2 | $0 |
Delmas Whittaker Chair-Elect | OfficerTrustee | 1.5 | $0 |
Emily Hayes Treasurer | OfficerTrustee | 1.5 | $0 |
Maria Tringali Secretary | OfficerTrustee | 1 | $0 |
Deanne Ederer Emmons Past-Chair/governance | OfficerTrustee | 0.5 | $0 |
David Crump Government Affairs | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $52,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,794,647 |
| Noncash contributions included in lines 1a–1f | $108,625 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,847,147 |
| Total Program Service Revenue | $1,201,637 |
| Investment income | $294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $105,304 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $585,629 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,771,011 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,500 |
| 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. | $180,000 |
| Compensation of current officers, directors, key employees. | $62,675 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $401,977 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,211 |
| Payroll taxes | $64,021 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,558 |
| Advertising and promotion | $66,509 |
| Office expenses | $12,073 |
| Information technology | $9,636 |
| Royalties | $0 |
| Occupancy | $17,460 |
| Travel | $12,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,303 |
| Insurance | $74,891 |
| All other expenses | $0 |
| Total functional expenses | $3,539,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $212,731 |
| Savings and temporary cash investments | $179,727 |
| Pledges and grants receivable | $560,000 |
| 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 | $14,931 |
| Net Land, buildings, and equipment | $82,041 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,049,430 |
| Accounts payable and accrued expenses | $1,081,292 |
| 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 | $1,081,292 |
| Net assets without donor restrictions | -$471,862 |
| Net assets with donor restrictions | $440,000 |
| 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 | $1,049,430 |