The Seattle Foundation
- Assets
- $1.3b
- Revenue
- $186.7m
- Investments
- $246.0m
- Employees
- 70
- Location
- Seattle, WA
- Founding
- 10/1947
- Data as of
- 12/2023
- EIN
- 91-6013536
Organization Overview
The Seattle Foundation is located in Seattle, WA. The organization was established in 1947. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Seattle Foundation employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle 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 12/2023, Seattle Foundation generated $186.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $182.6m during the year ending 12/2023. While expenses have increased by 10.9% per year over the past 7 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 2016, Seattle Foundation has awarded 41,210 individual grants totaling $1,024,451,362. 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
IGNITE POWERFUL & REWARDING PHILANTHROPY TO MAKE SEATTLE A STRONGER VIBRANT COMMUNITY FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR-DIRECTED GRANTMAKING: SEATTLE FOUNDATION'S MISSION IS TO IGNITE POWERFUL, REWARDING PHILANTHROPY. WITH APPROXIMATELY 600 INDIVIDUAL, FAMILY, AND CORPORATE FUNDS, THIS AREA OF INVESTMENT REFLECTS THE GRANTMAKING DIRECTED BY OUR DONORS TO SUPPORT A BROAD RANGE OF COMMUNITY INTERESTS AND SCHOLARSHIPS PRIMARILY IN OUR REGION AND WASHINGTON STATE, AND ALSO EXTENDING NATIONALLY AND INTERNATIONALLY.
COMMUNITY LEADERSHIP: SEATTLE FOUNDATION DRAWS ON OUR DEEP COMMUNITY INSIGHT AND LONG HISTORY AS A CIVIC LEADER TO LAUNCH AND PARTICIPATE IN CROSS-SECTOR INITIATIVES THAT AMPLIFY OUR REACH AND IMPACT. LED BY OUR COMMITMENT TO EQUITY AND OPPORTUNITY, OUR ROLE AS A CIVIC LEADER IS TO ALIGN KEY STAKEHOLDERS AROUND STRATEGIES TO ADDRESS OUR REGION'S GREATEST CHALLENGES.
FOUNDATION-DIRECTED GRANTMAKING: SEATTLE FOUNDATION MANAGES TARGETED FUNDS, CALLED AREA OF INTEREST FUNDS, ON BEHALF OF THE COMMUNITY, TO SUPPORT DEFINED INTEREST AREAS. THIS INCLUDES VARIOUS PROGRAMS WORKING TO CENTER RACIAL EQUITY AND SUPPORT ORGANIZATIONS LED BY, AND CREATED FOR, HISTORICALLY AND CURRENTLY UNDERSERVED COMMUNITIES, INCLUDING BLACK, NATIVE, LATINX, IMMIGRANT, AND LOW-INCOME COMMUNITIES. SEATTLE FOUNDATION EVALUATES ORGANIZATIONS AND THEN MAKES GRANTS TO BEST REFLECT THE INTENDED PURPOSE OF THE FUNDS. THE FOUNDATION FREQUENTLY LEADS SPECIAL INITIATIVES DESIGNED TO ADDRESS SPECIFIC COMMUNITY NEEDS IN KING COUNTY, INCLUDING EMERGENCY RESPONSE FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Taylor Chair | OfficerTrustee | 5 | $0 |
Kelley Hall Treasurer | OfficerTrustee | 2 | $0 |
Ed Thomas Past Chair | Trustee | 2 | $0 |
Ben Danielson Trustee | Trustee | 2 | $0 |
Amy Banovich Trustee | Trustee | 2 | $0 |
Amy Carter Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ee Ventures Consulting | 12/30/23 | $2,596,305 |
We Are Rally Llp Equity Policy Work | 12/30/23 | $1,684,991 |
Nelson Mullins Riley And Scarborough Ll Equity Policy Work | 12/30/23 | $943,481 |
Crewcial Partners Llc Investment Consulting | 12/30/23 | $491,298 |
Rsm Us Llp It Systems Design & Build | 12/30/23 | $357,309 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $52,540 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,652,769 |
| Government grants | $6,601,658 |
| All other contributions, gifts, grants, and similar amounts not included above | $116,709,370 |
| Noncash contributions included in lines 1a–1f | $45,424,736 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $137,016,337 |
| Total Program Service Revenue | $6,362,294 |
| Investment income | $20,748,337 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,512,186 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $186,713,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $142,733,599 |
| Grants and other assistance to domestic individuals. | $1,582,437 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,830,687 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,758,832 |
| Compensation of current officers, directors, key employees. | $650,768 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,492,676 |
| Pension plan accruals and contributions | $349,132 |
| Other employee benefits | $524,756 |
| Payroll taxes | $827,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $203,930 |
| Fees for services: Accounting | $229,684 |
| Fees for services: Lobbying | $13,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,625,653 |
| Fees for services: Other | $12,560,409 |
| Advertising and promotion | $218,239 |
| Office expenses | $396,798 |
| Information technology | $794,933 |
| Royalties | $0 |
| Occupancy | $739,089 |
| Travel | $39,149 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $359,420 |
| Interest | $6,871 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $294,023 |
| Insurance | $154,538 |
| All other expenses | $68,758 |
| Total functional expenses | $182,608,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $163,701,616 |
| Pledges and grants receivable | $7,407,815 |
| Accounts receivable, net | $2,047,917 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,526,868 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $308,964 |
| Net Land, buildings, and equipment | $617,595 |
| Investments—publicly traded securities | $881,825,257 |
| Investments—other securities | $245,952,524 |
| Investments—program-related | $5,717,458 |
| Intangible assets | $0 |
| Other assets | $3,111,036 |
| Total assets | $1,320,217,050 |
| Accounts payable and accrued expenses | $4,911,403 |
| Grants payable | $5,906,406 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $52,988,405 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,918,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $96,452,263 |
| Total liabilities | $170,176,577 |
| Net assets without donor restrictions | $1,080,788,035 |
| Net assets with donor restrictions | $69,252,438 |
| 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 | $1,320,217,050 |
Grants Awarded
Over the last fiscal year, The Seattle Foundation has awarded $142,662,247 in support to 5,596 organizations.
| Grant Recipient | Amount |
|---|---|
350 SEATTLE PURPOSE: KING COUNTY AFRICAN AMERICAN REPARATIONS COMMITTEE | $75,000 |
350 SEATTLE PURPOSE: CLIMATE JUSTICE IMPACT STRATEGY 2023 | $75,000 |
4 TOMORROW PURPOSE: HOUSING STABILITY / RENTAL ASSISTANCE. | $50,000 |
482FORWARD PURPOSE: MICHIGAN EDUCATION JUSTICE COALITION | $200,000 |
501 COMMONS PURPOSE: TO PROVIDE GENERAL SUPPORT. | $2,000 |
501 COMMONS PURPOSE: NONPROFIT EFFECTIVENESS 2023 | $25,000 |