Pike Place Market Foundation
- Assets
- $10.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 15
- Location
- Seattle, WA
- Founding
- 04/1983
- Data as of
- 03/2023
- 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 03/2023, Pike Place Market Foundation employed 15 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 03/2023, Pike Place Market Foundation generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $3.2m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Pike Place Market Foundation has awarded 42 individual grants totaling $15,568,395. 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
2023
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. $375K PIKE MARKET SENIOR CENTER - PROVIDES MEALS, SOCIAL WORK, EMPLOYMENT, AND HOUSING SERVICES FOR LOW INCOME SENIORS OF THE MARKET AREA AND DOWNTOWN SEATTLE. $255K PIKE MARKET CHILD CARE & PRESCHOOL - PROVIDES DAYCARE FOR LOW INCOME WORKING FAMILIES IN THE AREA. $300K PIKE MARKET FOOD BANK - PROVIDES FOOD TO DOWNTOWN RESIDENTS WHO WOULDN'T OTHERWISE BE ABLE TO GET FOOD. $160K FOOD ACCESS PROJECT & MARKET FRESH COUPONS - A FOOD-COUPON SYSTEM FOR LOW-INCOME RESIDENTS TO RECEIVE FARM FRESH PRODUCE $117,381 HERITAGE HOUSE AT THE MARKET - AN ASSISTED LIVING PROGRAM TO SERVE LOW INCOME AND SENIOR DOWNTOWN RESIDENTS. $65K
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. $44,252 SMALL BUSINESS GRANTING PROGRAM- GRANTS PAID TO MARKET BUSINESS, STARTED AS COVID RELIEF, CONTINUES. APPLICATIONS WITH SPECIFIC BUSINESS EXPENSES CITED. $350,925
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lillian Sherman Exec Director | Officer | 40 | $145,397 |
Patricia Gray Dir. Philanthropy | 40 | $102,388 | |
Crystal Dixon Dir. Strat Impact | 40 | $101,700 | |
Eddie Kirschenbaum President | OfficerTrustee | 2 | $0 |
Nicole Bahr Past President | Trustee | 2 | $0 |
Joel Carsley Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $927,956 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,112,766 |
| Noncash contributions included in lines 1a–1f | $436,787 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,040,722 |
| Total Program Service Revenue | $0 |
| Investment income | $271,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $64,283 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$446,914 |
| Net Income from Gaming Activities | $43,975 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,975,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,228,860 |
| Grants and other assistance to domestic individuals. | $395,177 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $156,908 |
| Compensation of current officers, directors, key employees. | $14,231 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $490,796 |
| Pension plan accruals and contributions | $23,659 |
| Other employee benefits | $57,995 |
| Payroll taxes | $185,236 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,364 |
| Fees for services: Other | $131,056 |
| Advertising and promotion | $0 |
| Office expenses | $168,503 |
| Information technology | $33,400 |
| 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 | $46,780 |
| Insurance | $5,232 |
| All other expenses | $0 |
| Total functional expenses | $3,199,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,936,862 |
| Pledges and grants receivable | $275,086 |
| 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 | $39,852 |
| Net Land, buildings, and equipment | $461,461 |
| Investments—publicly traded securities | $7,273,566 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,500 |
| Total assets | $9,999,327 |
| Accounts payable and accrued expenses | $96,645 |
| Grants payable | $1,174,937 |
| Deferred revenue | $161,139 |
| 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 | $1,432,721 |
| Net assets without donor restrictions | $5,512,686 |
| Net assets with donor restrictions | $3,053,920 |
| 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 | $9,999,327 |
Grants Awarded
Over the last fiscal year, Pike Place Market Foundation has awarded $1,155,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HERITAGE HOUSE AT THE MARKET PURPOSE: food-coupon system for low-income residents | $65,000 |
PIKE MARKET CHILD CARE PURPOSE: Childcare services | $300,000 |
PIKE MARKET MEDICAL CLINIC PURPOSE: medical services | $375,000 |
PIKE MARKET SENIOR CENTER & FOOD BA PURPOSE: food and senior services | $415,000 |