Civic Intelligence

Seafair Foundation

990 • Fiscal year 2014 • EIN 26-1233489

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 15, 2015

2200 Sixth Avenue 400Seattle, WA 98121

(206) 728-0123

Siviq Scores

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

Liabilities / Assets

84th percentile

0.28x

Higher debt load relative to assets than 84% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

84th percentile

0.14x

Higher debt load relative to revenue than 84% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

55th percentile

5.3%

Higher net margin than 55% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

85th percentile

$26,025

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

66th percentile

13%

Faster asset growth than 66% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Assets

Up

$114,338

Up $13,151 (+13%) from 2013

Net Assets

Up

$82,565

Up $11,808 (+17%) from 2013

Liabilities

Up

$31,773

Up $1,343 (+4.4%) from 2013

Revenue

Up

$223,201

Up $36,712 (+20%) from 2013

Expenses

Up

$211,393

Up $3,808 (+1.8%) from 2013

Net Income

Up

$11,808

Up $32,904 (+156%) from 2013

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

2014

Assets$114,338
Liabilities$31,773
Net Assets$82,565

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

2014

Revenue$223,201
Expenses$211,393
Net Income$11,808
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 15, 2015
Return Version
2014v5.0
Gross Receipts
$255,985
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$96,280$104,393▲ $8,113
Pledges and Grants Receivable$3,526$6,569▲ $3,043
Intangible Assets-$2,340-
Land, Buildings, and Equipment, Net$1,381$1,036▼ $345
Total Assets$101,187$114,338▲ $13,151
Liabilities
Other Liabilities$28,602$28,973▲ $371
Accounts Payable and Accrued Expenses$1,828$2,800▲ $972
Total Liabilities$30,430$31,773▲ $1,343
Net Assets / Fund Balance
Unrestricted Net Assets$70,757$82,565▲ $11,808
Total Net Assets Fund Balance$70,757$82,565▲ $11,808
Total Liabilities and Net Assets / Fund Balance$101,187$114,338▲ $13,151

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,036$690$1,726
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Beth KnoxPresident &PT$26,025$26,025

Board Members and Trustees

NameTitle
AMANDA O'ROURKEChair
Esmele JaymelinaBoard Member
Geri FainBoard Member
Stacy NagataBoard Member
Sam NoonanSecretary
Joel AndrusTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$160,036
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$63,165
All Other Contributions
$160,036
Change in Net Assets
$11,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$103,234
Other Expenses$79,159
Grants and Similar Amounts Paid$29,000
Total Fundraising Expense$26,984
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$65,599-$65,599
Grants to Domestic Individuals$29,000--$29,000
Current Officers, Directors, Trustees, and Key Employees-$26,025-$26,025
Travel$18,504--$18,504
All Other Expenses$92,382$-101,557$26,984$17,809
Office Expenses$5,384$7,818-$13,202
Occupancy-$9,576-$9,576
Other Employee Benefits-$6,678-$6,678
Payroll Taxes-$3,856-$3,856
Other Expenses$290$3,074-$3,364
Insurance-$2,061-$2,061
Fees for Services Accounting-$1,550-$1,550
Pension Plan Contributions-$1,076-$1,076
Depreciation Depletion-$705-$705
Advertising$120--$120
Fees for Services Other-$105-$105
Total Functional Expenses$157,426$26,983$26,984$211,393
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$95,949
Fundraising Direct Expenses$32,784
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Breakfast & the$79,332$79,332$3,863$75,469
Backstage Exper$16,617$16,617$1,793$14,824
Total Events$95,949$95,949$32,784$63,165
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$28,973
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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 is provided to each board member for review prior to filing.

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

Each board member is given a copy of the policy and is required to sign, attesting to the absence of a conflict of interest.

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

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

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Seafair Foundation
EIN
26-1233489
Phone
2067280123
Address
2200 SIXTH AVENUE 400, SEATTLE, WA 98121

Signing Officer

Name
David Willis
Title
Chief Operating Officer
Phone
2067280123
Signed
2015-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
Wa
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
50

Preparer

Firm
GREENWOOD OHLUND & CO LLP CPA'S
Address
4241 21ST AVE W 400, SEATTLE, WA 98199
Preparer
AMANDA O'ROURKECPA
Phone
2067821767
Supplemental Narrative

Additional Explanations

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

Seafair believes in celebrating the traditions of our region, resources and diverse residents. Each year, approximately 35 local parades/festivals are chosen through an application process to be a part of the boeing seafair foundation community events program. Seafair offers program participants resources that include support, training, information, marketing and event promotions, operational and administrative assistance.

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IRS990/ProgSrvcAccomActy2Grp/Desc0THE SEAFAIR HOLIDAY CRUISE TAKES TO THE WATER AS INDEPENDENT BOATERS AND CHARTER OPERATORS VOLUNTEER THEIR BOATS, CREWS AND TIME TO HOST APPROXIMATELY 1,500 INTELLECTUALLY DISABLED GUESTS ON A SPECIAL HOLIDAY CRUISE ON LAKES UNION & WASHINGTON. NEARLY 400 BOATS ARE DECKED OUT IN LIGHTS AND HOLIDAY CHEER AT VARIOUS DOCKS AND YACHT CLUBS. ONCE ON BOARD, GUESTS ARE TREATED TO A SNACK AND BEVERAGES PROVIDED BY PARTICIPATING BOAT OWNERS AND SKIPPERS. GUESTS ALSO ENJOY ENTERTAINMENT, GIFTS AND VISITS FROM SANTA CLAUS AS THEY CRUISE FOR TWO HOURS THROUGH THE MONTLAKE CUT TO LAKE WASHINGTON. SIMULTANEOUS CRUISES TAKE PLACE IN BREMERTON, TACOMA AND OLYMPIA.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt028973
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SCHOLARSHIP PAYABLE
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IRS990ScheduleD/TotalLiabilityAmt028973
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IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent2Amt01976
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt01976
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BREAKFAST & THE
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BACKSTAGE EXPER
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IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt097
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt079332
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt016617
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt079332
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IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt0318
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IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt03863
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt01793
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt05000
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt05000
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt110000
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1UNDERGRAD SCHOLARSHIPS
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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
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SEAFAIR BELIEVES IN CELEBRATING THE TRADITIONS OF OUR REGION, RESOURCES AND DIVERSE RESIDENTS. EACH YEAR, APPROXIMATELY 35 LOCAL PARADES/FESTIVALS ARE CHOSEN THROUGH AN APPLICATION PROCESS TO BE A PART OF THE BOEING SEAFAIR FOUNDATION COMMUNITY EVENTS PROGRAM. SEAFAIR OFFERS PROGRAM PARTICIPANTS RESOURCES THAT INCLUDE SUPPORT, TRAINING, INFORMATION, MARKETING AND EVENT PROMOTIONS, OPERATIONAL AND ADMINISTRATIVE ASSISTANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER IS GIVEN A COPY OF THE POLICY AND IS REQUIRED TO SIGN, ATTESTING TO THE ABSENCE OF A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A BRIEF SURVEY OF OTHER NON-PROFITS IN THE EVENT INDUSTRY WAS DONE FOR THE CEO ALONG WITH A DUTIES/EXPERIENCE REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A BRIEF SURVEY OF OTHER NON-PROFITS IN THE EVENT INDUSTRY WAS DONE FOR OTHER EMPLOYEES ALONG WITH A DUTIES/EXPERIENCE REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, THE 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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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0157426
IRS990/TotalFunctionalExpensesGrp/TotalAmt0211393
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IRS990/TotalLiabilitiesEOYAmt031773
IRS990/TotalLiabilitiesGrp/BOYAmt030430
IRS990/TotalLiabilitiesGrp/EOYAmt031773
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt070757
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt082565
IRS990/TotalOtherProgSrvcExpenseAmt016741
IRS990/TotalOtherProgSrvcRevenueAmt027500
IRS990/TotalProgramServiceExpensesAmt0157426
IRS990/TotalReportableCompFromOrgAmt026025
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0223201
IRS990/TotalVolunteersCnt050
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0114338
IRS990/TravelGrp/ProgramServicesAmt018504
IRS990/TravelGrp/TotalAmt018504
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0WWW.SEAFAIR.COM/FOUNDATION
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-04-25 22:37:26Z

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