Seafair
- Assets
- $1.2m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 14
- Location
- Seattle, WA
- Founding
- 05/1952
- Data as of
- 12/2018
- EIN
- 91-0557448
Organization Overview
Seafair is located in Seattle, WA. The organization was established in 1952. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2018, Seafair employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seafair is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2018, Seafair generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $4.4m during the year ending 12/2018. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 4 years. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
SEAFAIR PROMOTES SOCIAL, CULTURAL AND COMMUNITY ACTIVITIES IN THE GREATER SEATTLE AREA. THE SEAFAIR MISSION IS CREATING MEMORIES, PROVIDING AFFORDABLE FUN AND UNITING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEAFAIR IS A TEN-WEEK LONG SUMMER FESTIVAL THAT INCLUDES EIGHT SIGNATURE EVENTS AND OVER 30 OTHER SANCTIONED EVENTS THAT REACH MORE THAN 2 MILLION PEOPLE. WE BRING THE COMMUNITY TOGETHER THROUGH A SERIES OF EVENT THAT APPEAL TO A WIDE RANGE OF AGES AND CULTURES. EVENTS INCLUDE SEATTLE SUMMER 4TH WHICH IS SEATTLE'S CITYWIDE 4TH OF JULY CELEBRATION, INCLUDING MUSIC AND GAMES AND SEATTLE'S ONLY PROFESSIONALLY PRODUCED FIREWORKS SHOW, A TRIATHLON, MILK CARTON BOAT RACES FOR ALL AGES, THE TORCHLIGHT PARADE AND TORCHLIGHT RUN IN DOWNTOWN SEATTLE AND SEAFAIR WEEKEND FESTIVAL. THE SEAFAIR WEEKEND FESTIVAL HAS ENTERTAINMENT AND ACTIVITIES ON AND ABOVE LAKE WASHINGTON THAT INCLUDE HYDROPLANE RACES AND WAKEBOARDING AS WELL AS AN AIRSHOW. OTHER ENTERTAINMENT AT THE FESTIVAL INCLUDES MUSIC AND EXHIBITOR AND FOOD BOOTHS AND A CHILDREN'S ACTIVITY AREA. THE FESTIVAL ALLOWS THE SEATTLE AREA'S RESIDENTS AND VISITORS TO COME TOGETHER TO SHARE AND APPRECIATE ALL THE DIVERSE CULTURES SHOWCASED AT THE VARIOUS SEAFAIR EVENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Andersen President An | Officer | 40 | $190,864 |
Michael Kim Chair | OfficerTrustee | 2 | $0 |
Joel Andrus Chair Elect | OfficerTrustee | 2 | $0 |
Michelle Rudd Immediate Pa | OfficerTrustee | 2 | $0 |
Dale Gluck Treasurer | OfficerTrustee | 2 | $0 |
David Crump Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,760,048 |
| Noncash contributions included in lines 1a–1f | $186,835 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,760,048 |
| Total Program Service Revenue | $1,949,745 |
| Investment income | $1,046 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $100,446 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,813,389 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $203,715 |
| Compensation of current officers, directors, key employees. | $203,715 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $685,323 |
| Pension plan accruals and contributions | $11,843 |
| Other employee benefits | $56,804 |
| Payroll taxes | $75,017 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,853 |
| Advertising and promotion | $119,828 |
| Office expenses | $88,958 |
| Information technology | $29,163 |
| Royalties | $0 |
| Occupancy | $163,280 |
| Travel | $52,974 |
| 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 | $6,861 |
| Insurance | $63,228 |
| All other expenses | $1,488,490 |
| Total functional expenses | $4,364,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,271 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $674,286 |
| Accounts receivable, net | $32,969 |
| 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 | $28,669 |
| Net Land, buildings, and equipment | $28,202 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,450 |
| Total assets | $1,153,847 |
| Accounts payable and accrued expenses | $897,793 |
| Grants payable | $0 |
| Deferred revenue | $31,316 |
| 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 | $6,803 |
| Total liabilities | $935,912 |
| Unrestricted restricted net Assets | -$399,365 |
| Temporarily restricted net Assets | $617,300 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $217,935 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Seafair has recieved totaling $22,500.
| Awarding Organization | Amount |
|---|---|
Swedish Health Services Renton, WA PURPOSE: Triathlon sponsorship | $22,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Apa-The Engineered Wood Association Tacoma, WA | $20,196,458 | $14,789,025 |
Northwest Washington Fair Association Lynden, WA | $12,865,424 | $5,217,774 |
Central Washington Fair Association Yakima, WA | $5,361,375 | $6,100,925 |
Seafair Seattle, WA | $1,153,847 | $3,813,389 |
Alaska State Fair Incorporated Palmer, AK | $8,149,626 | $2,404,667 |
Benton-Franklin- Fair Association Pasco, WA | $1,054,097 | $3,211,826 |
Nampa Harvest Festival Association Inc Nampa, ID | $1,363,651 | $1,389,789 |
Oktoberfest Inc Mt Angel, OR | $428,340 | $1,048,381 |
Crooked River Roundup & Fair Prineville, OR | $378,940 | $961,459 |
International Festivals & Events Association Boise, ID | $285,897 | $644,662 |
Greater Anchorage Inc Anchorage, AK | $230,179 | $480,607 |
Benevolent & Protective Order Of Elks Of The Usa Fairbanks, AK | $1,063,303 | $387,285 |