Civic Intelligence

Seafair Foundation

990 • Fiscal year 2013 • EIN 26-1233489

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 15, 2014

2200 Sixth AvenueRoom/Suite 40098121

(206) 728-0123

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.30x

Higher debt load relative to assets than 85% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Liabilities / Revenue

85th percentile

0.16x

Higher debt load relative to revenue than 85% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Top Officer Pay

83rd percentile

$23,441

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 12.6% of source-year revenue.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Asset Growth

23rd percentile

-16%

Faster asset growth than 23% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

47th percentile

0.0%

Faster revenue growth than 47% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Annualized from 2010 to 2013

Assets

Down

$101,187

Down $19,166 (-16%) from 2012

Net Assets

Down

$70,757

Down $21,096 (-23%) from 2012

Liabilities

Up

$30,430

Up $1,930 (+6.8%) from 2012

Revenue

$186,489

No earlier filing loaded for comparison.

Expenses

Up

$207,585

Up $1,029 (+0.5%) from 2012

Net Income

-$21,096

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2010: $80,822Liabilities 2010: $15,889Net Assets 2010: $64,9332010Assets 2011: $101,563Liabilities 2011: $17,406Net Assets 2011: $84,1572011Assets 2012: $120,353Liabilities 2012: $28,500Net Assets 2012: $91,8532012Assets 2013: $101,187Liabilities 2013: $30,430Net Assets 2013: $70,7572013Assets 2014: $114,338Liabilities 2014: $31,773Net Assets 2014: $82,5652014Assets 2015: $144,692Liabilities 2015: $109,904Net Assets 2015: $34,7882015Assets 2016: $131,422Liabilities 2016: $115,874Net Assets 2016: $15,5482016Assets 2017: $101,127Liabilities 2017: $96,594Net Assets 2017: $4,5332017Assets 2018: $96,813Liabilities 2018: $94,188Net Assets 2018: $2,6252018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2013

Assets$101,187
Liabilities$30,430
Net Assets$70,757

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2010: $186,442Expenses 2010: $175,187Net Income 2010: $11,2552010Expenses 2011: $170,8052011Expenses 2012: $206,5562012Revenue 2013: $186,489Expenses 2013: $207,585Net Income 2013: -$21,0962013Revenue 2014: $223,201Expenses 2014: $211,393Net Income 2014: $11,8082014Revenue 2015: $191,948Expenses 2015: $239,725Net Income 2015: -$47,7772015Revenue 2016: $189,027Expenses 2016: $208,342Net Income 2016: -$19,3152016Revenue 2017: $197,461Expenses 2017: $208,476Net Income 2017: -$11,0152017Revenue 2018: $218,035Expenses 2018: $219,943Net Income 2018: -$1,9082018Revenue 2019: $216,023Expenses 2019: $185,491Net Income 2019: $30,5322019

Highlighted filing

2013

Revenue$186,489
Expenses$207,585
Net Income-$21,096
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 15, 2014
Return Version
2013v3.1
Gross Receipts
$212,945
Mission and Program Overview

Mission

The seafair foundation, the charitable partner of the seafair festival, empowers future leaders and connects our communities through educational and cultural experiences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$118,983$96,280▼ $22,703
Pledges and Grants Receivable$1,182$3,526▲ $2,344
Land, Buildings, and Equipment, Net-$1,381-
Prepaid Expenses and Deferred Charges$188--
Total Assets$120,353$101,187▼ $19,166
Liabilities
Other Liabilities$22,702$28,602▲ $5,900
Accounts Payable and Accrued Expenses$5,798$1,828▼ $3,970
Total Liabilities$28,500$30,430▲ $1,930
Net Assets / Fund Balance
Unrestricted Net Assets$91,853$70,757▼ $21,096
Total Net Assets Fund Balance$91,853$70,757▼ $21,096
Total Liabilities and Net Assets / Fund Balance$120,353$101,187▼ $19,166

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,381$345$1,726
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Beth KnoxPresident anPT$23,441$23,441

Board Members and Trustees

NameTitle
Joel AndrusChair
Brian BradleyPast Chair
AMANDA O'ROURKEVice Chair
David WillisBoard Member
Geri FainBoard Member
Jaymelina EsmeleBoard Member
Laura LockardBoard Member
Stacy NagataBoard Member
Sam NoonanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$149,218
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$37,271
All Other Contributions
$149,218
Change in Net Assets
$-21,096
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$101,445
Other Expenses$80,616
Grants and Similar Amounts Paid$25,524
Total Fundraising Expense$19,466
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$66,180-$66,180
Grants to Domestic Individuals$25,524--$25,524
Current Officers, Directors, Trustees, and Key Employees-$23,441-$23,441
Travel$19,351-$1,156$20,507
Occupancy-$9,576-$9,576
Office Expenses$3,339$3,681$980$8,000
Other Employee Benefits-$6,928-$6,928
Other Expenses$5,095-$5,138$5,095
Payroll Taxes-$3,893-$3,893
Fees for Services Other-$3,000-$3,000
Insurance-$2,062-$2,062
Fees for Services Accounting-$1,735-$1,735
Pension Plan Contributions-$1,003-$1,003
Depreciation Depletion-$345-$345
Advertising$120--$120
All Other Expenses$105,255$-102,377$-5,994$-3,116
Total Functional Expenses$168,652$19,467$19,466$207,585
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$63,727
Fundraising Direct Expenses$26,456
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$63,727$63,727$8,188$55,539
Total Events$63,727$63,727$26,456$37,271
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarship Payable$28,602
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy of form 990 was provided to the board to review before filing.

Form 990, Page 6, Part VI, Line 12C

Each board member is given a copy of the policy and is required to sign.

Form 990, Page 6, Part VI, Line 15A

A brief survey of other non-profits in the event industry was done for ceo along with a duties/experience review.

Form 990, Page 6, Part VI, Line 15B

A brief survey of other non-profits in the event industry was done for ceo along with a duties/experience review.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

EIN
26-1233489
Phone
2067280123

Signing Officer

Name
Beth Knox
Title
President and CEO
Phone
2067280123
Signed
2014-06-15
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
Wa
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
150

Preparer

Preparer
AMANDA O'ROURKECPA
Phone
2067821767
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

The seafair community events program sanctioned 35 community events in 2013, which represent the fabric, culture, and personality of the puget sound region, as part of the seafair schedule of events. Working with mostly volunteer leaders from each community, seafair provided expertise to train and educate event organizers to coordinate schedules, permits, vendors, and publicity to ensure the public participates in these community celebrations. The biggest change in 2013 was the amount of networking and working with one another between the events. Event organizers took it upon themselves to connect with one another and work together to solve problems and improve their events. Additionally, the seafair foundation's youth education program provides the opportunity for elementary students to learn about and appreciate the history of seafair and the role of hydroplane racing and aviation in our community. This program explores the math and science behind both racing and aviation. Hydroplane drivers, miss seafair and other prominent individuals teach this multi-dimensional education program. In 2013, we increased our exposure in the community by visiting 300 students at 5 schools in greater puget sound. Each student learned a great deal and got to sit in a vintage hydroplane courtesy of the hydroplane and raceboat museum. Students also received their own mini-hydroplane kit during the classroom visit.

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IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE SEAFAIR COMMUNITY EVENTS PROGRAM SANCTIONED 35 COMMUNITY EVENTS IN 2013, WHICH REPRESENT THE FABRIC, CULTURE, AND PERSONALITY OF THE PUGET SOUND REGION, AS PART OF THE SEAFAIR SCHEDULE OF EVENTS. WORKING WITH MOSTLY VOLUNTEER LEADERS FROM EACH COMMUNITY, SEAFAIR PROVIDED EXPERTISE TO TRAIN AND EDUCATE EVENT ORGANIZERS TO COORDINATE SCHEDULES, PERMITS, VENDORS, AND PUBLICITY TO ENSURE THE PUBLIC PARTICIPATES IN THESE COMMUNITY CELEBRATIONS. THE BIGGEST CHANGE IN 2013 WAS THE AMOUNT OF NETWORKING AND WORKING WITH ONE ANOTHER BETWEEN THE EVENTS. EVENT ORGANIZERS TOOK IT UPON THEMSELVES TO CONNECT WITH ONE ANOTHER AND WORK TOGETHER TO SOLVE PROBLEMS AND IMPROVE THEIR EVENTS. ADDITIONALLY, THE SEAFAIR FOUNDATION'S YOUTH EDUCATION PROGRAM PROVIDES THE OPPORTUNITY FOR ELEMENTARY STUDENTS TO LEARN ABOUT AND APPRECIATE THE HISTORY OF SEAFAIR AND THE ROLE OF HYDROPLANE RACING AND AVIATION IN OUR COMMUNITY. THIS PROGRAM EXPLORES THE MATH AND SCIENCE BEHIND BOTH RACING AND AVIATION. HYDROPLANE DRIVERS, MISS SEAFAIR AND OTHER PROMINENT INDIVIDUALS TEACH THIS MULTI-DIMENSIONAL EDUCATION PROGRAM. IN 2013, WE INCREASED OUR EXPOSURE IN THE COMMUNITY BY VISITING 300 STUDENTS AT 5 SCHOOLS IN GREATER PUGET SOUND. EACH STUDENT LEARNED A GREAT DEAL AND GOT TO SIT IN A VINTAGE HYDROPLANE COURTESY OF THE HYDROPLANE AND RACEBOAT MUSEUM. STUDENTS ALSO RECEIVED THEIR OWN MINI-HYDROPLANE KIT DURING THE CLASSROOM VISIT.
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IRS990ScheduleG/FundraisingEventInformationGrp/NameOfEvent1Amt0BREAKFAST & THE
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL APPLICANTS MUST SUBMIT AND APPLICATION AND ARE INTERVIEWED BY A PANEL REPRESENTING THE ORGANIZATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SEAFAIR COMMUNITY EVENTS PROGRAM SANCTIONED 35 COMMUNITY EVENTS IN 2013, WHICH REPRESENT THE FABRIC, CULTURE, AND PERSONALITY OF THE PUGET SOUND REGION, AS PART OF THE SEAFAIR SCHEDULE OF EVENTS. WORKING WITH MOSTLY VOLUNTEER LEADERS FROM EACH COMMUNITY, SEAFAIR PROVIDED EXPERTISE TO TRAIN AND EDUCATE EVENT ORGANIZERS TO COORDINATE SCHEDULES, PERMITS, VENDORS, AND PUBLICITY TO ENSURE THE PUBLIC PARTICIPATES IN THESE COMMUNITY CELEBRATIONS. THE BIGGEST CHANGE IN 2013 WAS THE AMOUNT OF NETWORKING AND WORKING WITH ONE ANOTHER BETWEEN THE EVENTS. EVENT ORGANIZERS TOOK IT UPON THEMSELVES TO CONNECT WITH ONE ANOTHER AND WORK TOGETHER TO SOLVE PROBLEMS AND IMPROVE THEIR EVENTS. ADDITIONALLY, THE SEAFAIR FOUNDATION'S YOUTH EDUCATION PROGRAM PROVIDES THE OPPORTUNITY FOR ELEMENTARY STUDENTS TO LEARN ABOUT AND APPRECIATE THE HISTORY OF SEAFAIR AND THE ROLE OF HYDROPLANE RACING AND AVIATION IN OUR COMMUNITY. THIS PROGRAM EXPLORES THE MATH AND SCIENCE BEHIND BOTH RACING AND AVIATION. HYDROPLANE DRIVERS, MISS SEAFAIR AND OTHER PROMINENT INDIVIDUALS TEACH THIS MULTI-DIMENSIONAL EDUCATION PROGRAM. IN 2013, WE INCREASED OUR EXPOSURE IN THE COMMUNITY BY VISITING 300 STUDENTS AT 5 SCHOOLS IN GREATER PUGET SOUND. EACH STUDENT LEARNED A GREAT DEAL AND GOT TO SIT IN A VINTAGE HYDROPLANE COURTESY OF THE HYDROPLANE AND RACEBOAT MUSEUM. STUDENTS ALSO RECEIVED THEIR OWN MINI-HYDROPLANE KIT DURING THE CLASSROOM VISIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 WAS PROVIDED TO THE BOARD TO REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER IS GIVEN A COPY OF THE POLICY AND IS REQUIRED TO SIGN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A BRIEF SURVEY OF OTHER NON-PROFITS IN THE EVENT INDUSTRY WAS DONE FOR CEO ALONG WITH A DUTIES/EXPERIENCE REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A BRIEF SURVEY OF OTHER NON-PROFITS IN THE EVENT INDUSTRY WAS DONE FOR CEO ALONG WITH A DUTIES/EXPERIENCE REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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