Artsfund
- Assets
- $6.1m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Seattle, WA
- Founding
- 05/1969
- Data as of
- 09/2023
- EIN
- 91-0839644
Organization Overview
Artsfund is located in Seattle, WA. The organization was established in 1969. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Artsfund employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Artsfund 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 09/2023, Artsfund generated $14.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $15.0m during the year ending 09/2023. While expenses have increased by 16.8% per year over the past 8 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.
Since 2015, Artsfund has awarded 1,754 individual grants totaling $52,760,407. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
STRENGTHEN THE COMMUNITY BY SUPPORTING THE ARTS THROUGH LEADERSHIP, ADVOCACY, AND GRANT MAKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTSFUND PROVIDES GENERAL OPERATING SUPPORT TO NONPROFIT IRC 501(C)(3) ARTS ORGANIZATIONS. AWARDS ARE MADE THROUGH AN "ALLOCATION PROCESS AND TAKE INTO CONSIDERATION EACH ORGANIZATION'S MISSION AND ART, MANAGEMENT AND FINANCIAL CONDITION, AND COMMITMENT TO AND IMPACT ON THE COMMUNITY. FOR THE YEAR ENDED SEPTEMBER 30, 2023, 674 ORGANIZATIONS WERE GRANTED OPERATING SUPPORT.
ARTSFUND CONDUCTS A VARIETY OF PROGRAMS TO BENEFIT THE CULTURAL SECTOR: AN ASSOCIATES PROGRAM TO EQUIP VOLUNTEERS WITH LEADERSHIP AND FUNDRAISING SKILLS; BOARD LEADERSHIP TRAINING CLASSES ON LEGAL AND FINANCIAL RESPONSIBILITIES, STRATEGIC PLANNING, FUNDRAISING AND BEST GOVERNANCE PRACTICES; CONVENINGS TO SHARE RESOURCES, PRACTICES AND PERSPECTIVES TO EXPAND THE CAPACITY OF THE CULTURAL SECTOR; STUDY OF THE ECONOMIC IMPACT OF THE ARTS; AND FISCAL SPONSOR FOR BUILDING FOR THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael R Greer President & CEO | Officer | 55 | $247,389 |
Linda Madison VP Of Finance & Ops Until Feb 2023 | Officer | 55 | $126,068 |
Erin Hobson Chair | OfficerTrustee | 1 | $0 |
Patrick Evans Vice Chair | OfficerTrustee | 1 | $0 |
Sung Yang Immediate Past Chair | OfficerTrustee | 1 | $0 |
Karen Bergin Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $876,400 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,563,058 |
| Noncash contributions included in lines 1a–1f | $469,136 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,439,458 |
| Total Program Service Revenue | $83,339 |
| Investment income | $76,721 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,599,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,496,075 |
| 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. | $461,644 |
| Compensation of current officers, directors, key employees. | $191,351 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $901,108 |
| Pension plan accruals and contributions | $23,993 |
| Other employee benefits | $78,404 |
| Payroll taxes | $92,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,613 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $250,705 |
| Advertising and promotion | $11,427 |
| Office expenses | $109,883 |
| Information technology | $95,351 |
| Royalties | $0 |
| Occupancy | $129,953 |
| Travel | $21,480 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $207,699 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,364 |
| Insurance | $26,532 |
| All other expenses | $0 |
| Total functional expenses | $14,985,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $360,316 |
| Savings and temporary cash investments | $4,112,434 |
| Pledges and grants receivable | $1,498,294 |
| 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 | $38,969 |
| Net Land, buildings, and equipment | $71,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $34,868 |
| Other assets | $0 |
| Total assets | $6,116,792 |
| Accounts payable and accrued expenses | $163,318 |
| 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 | $163,318 |
| Net assets without donor restrictions | $4,645,974 |
| Net assets with donor restrictions | $1,307,500 |
| 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 | $6,116,792 |
Grants Awarded
Over the last fiscal year, Artsfund has awarded $9,951,595 in support to 546 organizations.
| Grant Recipient | Amount |
|---|---|
SEATTLE SYMPHONY ORCHESTRA PURPOSE: GENERAL SUPPORT | $160,755 |
SEATTLE ART MUSEUM PURPOSE: GENERAL SUPPORT | $160,340 |
PACIFIC NORTHWEST BALLET PURPOSE: GENERAL SUPPORT | $157,030 |
SEATTLE OPERA PURPOSE: GENERAL SUPPORT | $151,760 |
SEATTLE REPERTORY THEATRE PURPOSE: GENERAL SUPPORT | $109,330 |
THE 5TH AVENUE THEATRE PURPOSE: GENERAL SUPPORT | $106,640 |