Seafair Inc

“Prior to submission, a draft form 990 is emailed to all board members.”

“At the first board meeting of each year, the conflict of interest policy is distributed and reviewed by each board member. Each board member is required to sign and return the policy.”

“Salary and benefit package of the president is compared to ifea compensation survey and to similar ceo compensation in the puget sound region. The executive committee reviews and determines compensation of president and any key employees.”

“The executive committee reviews and determines compensation of top officials.”

“Governing documents, conflict of interest policy, and financial statements are available for inspection at the organization's office upon request.”

“On december 31, 2019 seafair, inc. Merged with seafair foundation, a 501 (c)(3) organization, to form a new 501(c)(3) organization, seafair charitable foundation. To be effective on january 1, 2020 all seafair, inc activities and net assets were transferred to seafair charitable foundation.”

“Seafair has grown over 70 years into a ten-week long summer festival that includes eight signature events and over 30 other sanctioned events that reach more than 2 million people. We bring the community together through a series of events that appeal to a wide range of ages and cultures. Events include seattle summer 4th which is seattle's citywide 4th of july celebration, including music and games and seattle's only professionally produced fireworks show, a triathlon, milk carton boat races that include all ages and different group categories, the torchlight parade and torchlight run in downtown seattle where cultural diversity is celebrated with each parade entry and the culminating signature event, seafair weekend festival. The seafair weekend festival has entertainment and activities on and above lake washington that include hydroplane races and wakeboarding as well as an airshow featuring the navy blue angels. Other entertainment at the festival includes music, bmx bike demonstrations, exhibitor and food booths and a children's activity area. The festival allows the seattle area's residents and visitors to come together to share and appreciate all the diverse cultures showcased at the various seafair events.”

“Tent and booths 163,461 0 0 equipment rental 150,521 0 0 security 146,055 0 0 food and beverage 118,953 0 0 clean up and sanitation 110,953 0 0 electrical.cable/web 108,542 0 0 transportation 108,352 0 0 tv production 98,275 0 0 fencing 96,950 0 0 business and property tax 0 87,434 0 signage 87,151 0 0 venue use and rent 74,576 0 0 hospitality catering cost 59,548 0 0 sound 56,414 0 0 contracted event cost 53,500 0 0 merchandise purchase 44,000 0 0 taxes on admissions 39,753 0 0 communication 28,967 0 0 barricades 22,547 0 0 award/prizes/gifts 20,445 0 0 production material 19,426 0 0 credit card fees 0 14,791 0 volunteer recognition 13,836 0 0 labor fees 13,747 0 0 fuel/oil 10,003 0 0 site decoration 6,081 0 0 staff recognition 0 4,832 0 meals 0 3,762 0 human resources 0 3,002 0 board of directors 0 2,569 0 medical aid 2,000 0 0 donations/contributions 0 951 0 safety and rescue 467 0 0 maint & repair - office 0 438 0 bank and finance 0 284 0 indirect cost allocation 676,301 -1,048,745 372,443 foundation reimbursement -45,829 -31,866 -9,417 total 2,284,995 -962,548 363,026”

“Line 9: seafair, inc. Transferred all assets and liabilities to seafair charitable foundation, a 501(c)(3) organization. Effective 01/20/2020.”

“Uncollectible sponsorhip -180,500 net assets transferred to new 501(c)(3) -415,238 total -595,738”