Seattle Symphony Foundation
- Assets
- $43.4m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 04/1987
- Data as of
- 08/2023
- EIN
- 91-1351925
Organization Overview
Seattle Symphony Foundation is located in Seattle, WA. The organization was established in 1987. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Symphony 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 08/2023, Seattle Symphony Foundation generated $7.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $2.0m during the year ending 08/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO AID AND SUPPORT THE SEATTLE SYMPHONY ORCHESTRA AND BENAROYA HALL MUSIC CENTER ENDOWMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S ARTICLES OF INCORPORATION PROVIDE THAT UP TO 7.5% OF THE 36 MONTH ROLLING AVERAGE OF THE ENDOWMENT VALUE BE DISTRIBUTED ANNUALLY TO THE SEATTLE SYMPHONY ORCHESTRA TO SUPPORT ITS OPERATIONS.IN 2019 THE FOUNDATION ADDED A NEW ENDOWMENT FUND FOR THE BENEFIT OF BENAROYA MUSIC HALL. IN 2022 THE FOUNDATION BOARD APPROVED A DISTRIBUTION TO BENAROYA HALL TOTALING 5% OF A ROLLING 36 MONTH AVERAGE OF THE ENDOWMENT VALUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Slonski Board Chair | OfficerTrustee | 2 | $0 |
Kathleen Wright Vice Chair | OfficerTrustee | 2 | $0 |
Muriel Van Housen Secretary | OfficerTrustee | 2 | $0 |
Ben Martz Treasurer | OfficerTrustee | 2 | $0 |
Joaquin Hernandez Director | Trustee | 2 | $0 |
Michael Hatch Director | Trustee | 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 | $1,978,064 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,978,064 |
| Total Program Service Revenue | $0 |
| Investment income | $811,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,760,440 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,550,149 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,544,498 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $150,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $100,000 |
| Fees for services: Legal | $440 |
| Fees for services: Accounting | $46,244 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $140,896 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $151 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,982,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,573 |
| Savings and temporary cash investments | $7,691,474 |
| Pledges and grants receivable | $8,095,282 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,137,382 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $25,619,527 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $735,055 |
| Total assets | $43,445,293 |
| Accounts payable and accrued expenses | $105,063 |
| 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 | $68,811 |
| Total liabilities | $173,874 |
| Net assets without donor restrictions | $9,000,000 |
| Net assets with donor restrictions | $34,271,419 |
| 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 | $43,445,293 |
Grants Awarded
Over the last fiscal year, Seattle Symphony Foundation has awarded $1,544,498 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEATTLE SYMPHONY ORCHESTRA PURPOSE: GENERAL SUPPORT | $1,527,196 |
B H MUSIC CENTER PURPOSE: GENERAL SUPPORT | $17,302 |