Foundation For The Seattle Colleges
- Assets
- $41.1m
- Revenue
- $223.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 10/2006
- Data as of
- 12/2021
- EIN
- 20-5077956
Organization Overview
Foundation For The Seattle Colleges is located in Seattle, WA. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Seattle Colleges 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 12/2021, Foundation For The Seattle Colleges generated $223.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (52.1%) each year. All expenses for the organization totaled $116.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION FOR THE SEATTLE COLLEGES EXISTS TO ADVANCE FUNDRAISING EFFORTS FOR THE SEATTLE COMMUNITY COLLEGE DISTRICT. WE SEEK TO ATTRACT FINANCIAL RESOURCES WHICH SUPPORT STUDENTS SO THEY MAY BE SUCCESSFUL; MAINTAIN THE QUALITY AND DEEPEN THE EXPERTISE OF OUR FACULTY AND STAFF AND SUSTAIN AN ARRAY OF EDUCATIONAL PROGRAMS USING STATE-OF-THE-ART EQUIPMENT AND TECHNOLOGY IN MODERN FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PACIFIC TOWER IS SEATTLE COLLEGE'S NEWEST HOME FOR HEALTH EDUCATION PROGRAMS AND A DYNAMIC HUB FOR SOME OF THE MOST VITAL AND INNOVATIVE COMMUNITY NONPROFITS. PACIFIC TOWER FOSTERS AN EXCITING MODEL FOR CROSS-ORGANIZATIONAL COLLABORATION IN HEALTH CARE, EDUCATION, SOCIAL SERVICES, AND JOB CREATION. THROUGH MANAGEMENT OF STATE CAPITAL FUNDING, FEDERAL TAX CREDITS, AND LOCAL GOVERNMENT CONTRIBUTIONS, THE FOUNDATION FOR SEATTLE COLLEGES PLAYS A CRITICAL, TIME LIMITED, SUPPORTING ROLE WITH SEVERAL OTHER PARTNERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Traci Russell Executive Director | Officer | 4 | $13,349 |
Bill Grinstein Chair & President | OfficerTrustee | 2 | $0 |
Bruce Addison Treasurer | OfficerTrustee | 3 | $0 |
Steve Johnson Secretary | OfficerTrustee | 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 | $250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250 |
| Total Program Service Revenue | $0 |
| Investment income | $222,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $222,987 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,300 |
| Fees for services: Accounting | $22,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,904 |
| Advertising and promotion | $0 |
| Office expenses | $3,528 |
| 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 | $6,216 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $25,269 |
| All other expenses | $0 |
| Total functional expenses | $116,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $772,492 |
| Savings and temporary cash investments | $390,754 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,122,050 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,372 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $23,762,603 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,063,271 |
| Accounts payable and accrued expenses | $325,729 |
| 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 | $598,939 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $924,668 |
| Net assets without donor restrictions | $40,138,603 |
| Net assets with donor restrictions | $0 |
| 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 | $41,063,271 |
Grants Awarded
Over the last fiscal year, Foundation For The Seattle Colleges has awarded $624,985 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SEATTLE COLLEGES DISTRICT PURPOSE: Program Funds | $475,000 |
Seattle, WA PURPOSE: Scholarships & Program Funds | $82,000 |
Seattle, WA PURPOSE: Scholarships | $36,869 |
NORTH SEATTLE COLLEGE EDUCATION FUND PURPOSE: Scholarships | $31,116 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For The Seattle Colleges has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Glassybaby White Light Fund Seattle, WA PURPOSE: GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $1,388 |
| Earnings | $214 |
| Admin Expense | $134 |
| Other Expense | $1,468 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
J R Simplot Company Foundation Inc Boise, ID | $71,703,701 | $5,686,010 |
College Spark Washington Seattle, WA | $104,693,147 | $3,230,019 |
Idaho Association For The Education Of Young Children Boise, ID | $1,636,700 | $5,141,669 |
Pwh Educational Foundation Inc Spokane, WA | $62,473,304 | $11,260,767 |
Arctic Education Foundation Anchorage, AK | $36,876,877 | $4,892,952 |
College Dreams Inc Grants Pass, OR | $2,542,440 | $3,694,638 |
Calista Education And Culture Inc Anchorage, AK | $4,627,713 | $2,487,452 |
Kmr Group Foundation Vancouver, WA | $32,236,591 | $1,808,486 |
Aleut Foundation Anchorage, AK | $925,739 | $1,724,058 |
R Merle Palmer Minority Scholarship Foundation Tacoma, WA | $1,801,300 | $1,443,994 |
Greater Seattle Business Assoc Scholarship Fund Seattle, WA | $4,889,386 | $1,584,416 |
One Ummah Foundation In Memory Of Mustafa Saeed Rahman Lake Oswego, OR | $1,906,238 | $1,873,006 |