Pike Place Market Foundation
- Assets
- $10.9m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 14
- Location
- Seattle, WA
- Founding
- 04/1983
- Data as of
- 03/2022
- EIN
- 91-1197625
Organization Overview
Pike Place Market Foundation is located in Seattle, WA. The organization was established in 1983. 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 03/2022, Pike Place Market Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pike Place Market 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 03/2022, Pike Place Market Foundation generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $3.0m during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Pike Place Market Foundation has awarded 38 individual grants totaling $14,413,395. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS TO SUPPORT PROGRAMS THAT SERVE LOW-INCOME PEOPLE, HERITAGE PROGRAMS, AND PUBLIC IMPROVEMENTS IN SEATTLE'S PIKE PLACE MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSISTS OF DISBURSEMENTS TO THE FOLLOWING MARKET-RELATED NOT-FOR-PROFIT ENTITIES: PIKE MARKET MEDICAL CLINIC - PROVIDES LOW COST OR FREE MEDICAL SERVICES FOR ELDERLY AND LOW INCOME RESIDENTS OF THE MARKET AREA AND DOWNTOWN SEATTLE. PIKE MARKET SENIOR CENTER - PROVIDES MEALS, SOCIAL WORK, EMPLOYMENT, AND HOUSING SERVICES FOR LOW INCOME SENIORS OF THE MARKET AREA AND DOWNTOWN SEATTLE. PIKE MARKET CHILD CARE & PRESCHOOL - PROVIDES DAYCARE FOR LOW INCOME WORKING FAMILIES IN THE AREA. PIKE MARKET FOOD BANK - PROVIDES FOOD TO DOWNTOWN RESIDENTS WHO WOULDN'T OTHERWISE BE ABLE TO GET FOOD. FOOD ACCESS PROJECT & MARKET FRESH COUPONS - A FOOD-COUPON SYSTEM FOR LOW-INCOME RESIDENTS TO RECEIVE FARM FRESH PRODUCE HERITAGE HOUSE AT THE MARKET - AN ASSISTED LIVING PROGRAM TO SERVE LOW INCOME AND SENIOR DOWNTOWN RESIDENTS.
IN LATE 2017, THE FOUNDATION OPENED THE MARKET COMMONS ("THE COMMONS"), LOCATED IN THE NEW MARKETFRONT. THE COMMONS IS A WELCOMING AND INCLUSIVE NEIGHBORHOOD CENTER THAT PROVIDES COMMUNITY RESOURCES AS WELL AS PROGRAMS AND ACTIVITIES IN THE MARKET. THE COMMONS EXPANDS DELIVERY OF SOCIAL SERVICES - BOTH IN THE SCOPE OF SERVICES CURRENTLY OFFERED AND IN THE NUMBER OF PEOPLE SERVED BY PARTNER AGENCIES.
SAFETY NET EMERGENCY RELIEF FOR THOSE LIVING/WORKING IN AND AROUND THE MARKET COMMUNITY. GRANTS ARE PAID DIRECTLY TO SERVICE PROVIDE I.E. UTILITY COMPANY, RENTAL AGENCY. SMALL BUSINESS GRANTING PROGRAM- GRANTS PAID TO MARKET BUSINESS, STARTED AS COVID RELIEF, CONTINUES. APPLICATIONS WITH SPECIFIC BUSINESS EXPENSES CITED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lillian Sherman Exec Director | Officer | 40 | $142,709 |
Nicole Bahr President | OfficerTrustee | 2 | $0 |
Eddie Kirschenbaum President Elect | OfficerTrustee | 2 | $0 |
Joel Carsley Treasurer | OfficerTrustee | 2 | $0 |
Sherry Burkey Secretary | OfficerTrustee | 2 | $0 |
Lindy Gaylord Past President | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $813,285 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,819,937 |
| Noncash contributions included in lines 1a–1f | $132,624 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,633,222 |
| Total Program Service Revenue | $0 |
| Investment income | $167,176 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $67,311 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$355,264 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,512,445 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,181,078 |
| Grants and other assistance to domestic individuals. | $397,370 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $159,745 |
| Compensation of current officers, directors, key employees. | $16,511 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $366,890 |
| Pension plan accruals and contributions | $13,253 |
| Other employee benefits | $49,451 |
| Payroll taxes | $164,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,261 |
| Fees for services: Accounting | $70,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,746 |
| Fees for services: Other | $57,339 |
| Advertising and promotion | $0 |
| Office expenses | $229,538 |
| Information technology | $36,874 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $41,742 |
| Insurance | $5,526 |
| All other expenses | $0 |
| Total functional expenses | $3,021,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,406,170 |
| Pledges and grants receivable | $546,107 |
| 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 | $20,829 |
| Net Land, buildings, and equipment | $487,368 |
| Investments—publicly traded securities | $7,485,067 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,945,541 |
| Accounts payable and accrued expenses | $73,498 |
| Grants payable | $1,151,889 |
| Deferred revenue | $178,775 |
| 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 | $1,404,162 |
| Net assets without donor restrictions | $6,299,181 |
| Net assets with donor restrictions | $3,242,198 |
| 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 | $10,945,541 |
Grants Awarded
Over the last fiscal year, Pike Place Market Foundation has awarded $1,181,078 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: food and senior serv | $425,000 |
PIKE MARKET MEDICAL CLINIC PURPOSE: medical services | $355,000 |
Seattle, WA PURPOSE: childcare services | $313,078 |
HERITAGE HOUSE AT THE MARKET PURPOSE: senior housing assis | $88,000 |
Grants Recieved
Over the last fiscal year, we have identified 30 grants that Pike Place Market Foundation has recieved totaling $914,112.
| Awarding Organization | Amount |
|---|---|
Wyncote Foundation Philadelphia, PA PURPOSE: COVID-19 RELIEF ($50,000), SUPPORT FOR ONGOING PROGRAMS ($200,000) | $250,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $195,676 |
The Seattle Foundation Seattle, WA PURPOSE: TO PROVIDE GENERAL SUPPORT; POWER OF PIKE PLACE RECOVERY FUND; 50TH ANNIVERSARY; RALLY TOGETHER FOR THE MARKET; GEN SUPPORT IN MEMORY OF ESSIE JACOBS; TO SUPPORT THE GIVING TREE | $170,360 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $97,636 |
Lookout Foundation Inc Summerland Key, FL PURPOSE: UNRESTRICTED CHARITABLE GRANT | $50,000 |
American Endowment Foundation Hudson, OH PURPOSE: COMMUNITY DEVELOPMENT | $40,000 |
Endowment Analysis
| Beg. Balance | $4,932,499 |
| Earnings | $220,433 |
| Net Contributions | $633,755 |
| Other Expense | $13,500 |
| Ending Balance | $5,773,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aleutian-Pribilof Islands Anchorage, AK | $38,968,570 | $29,437,372 |
Friends Of Seattle Waterfront Seattle, WA | $32,295,569 | $18,451,565 |
Yakima County Development Association Yakima, WA | $2,653,869 | $12,280,886 |
Association Of Washington Cities Olympia, WA | $23,978,792 | $13,838,038 |
Hacienda Community Development Corporation Portland, OR | $42,129,547 | $14,753,048 |
Klamath-Lake Community Action Services Klamath Falls, OR | $1,233,106 | $7,011,875 |
The Contingent Portland, OR | $16,984,824 | $8,759,620 |
Southeast Effective Development Seattle, WA | $44,851,964 | $4,590,608 |
Evergreen Business Capital Seattle, WA | $8,313,121 | $5,500,753 |
Clean & Safe Inc Portland, OR | $4,418,996 | $6,074,621 |
Community Frameworks Spokane, WA | $20,309,475 | $6,692,007 |
Interim Community Development Association Seattle, WA | $18,632,697 | $4,931,753 |