Olympia-Tumwater Foundation
- Assets
- $12.5m
- Revenue
- $945.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Tumwater, WA
- Founding
- 03/1953
- Data as of
- 12/2021
- EIN
- 91-0741161
Organization Overview
Olympia-Tumwater Foundation is located in Tumwater, WA. The organization was established in 1953. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Olympia-Tumwater Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olympia-Tumwater 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 12/2021, Olympia-Tumwater Foundation generated $945.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $796.0k during the year ending 12/2021. While expenses have increased by 2.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE OLYMPIA TUMWATER FOUNDATION HONORS BOTH THE HISTORY AND FUTURE OF THURSTON COUNTY THROUGH ITS COMMITMENT TO A WIDE RANGE OF COMMUNITY PROJECTS INCLUDING STUDENT SCHOLARSHIPS, HISTORIC PRESERVATION, AND STEWARDSHIP OF BREWERY PARK AT TUMWATER FALLS. THROUGH SUCH CIVIC INVOLVEMENT, THE FOUNDATION CONTINUES THE TRADITION OF PHILANTHROPY AND RESPONSIBLE CITIZENSHIP ESTABLISHED BY THE SCHMIDT FAMILY AND THE OLYMPIA BREWING COMPANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPENED IN 1962 AS A GIFT TO THE SOUTH SOUND COMMUNITY, BREWERY PARK AT TUMWATER FALLS COMBINES SPECTACULAR SCENERY WITH HISTORICAL SIGNIFICANCE SITUATED ALONG THE BANKS OF THE LAST QUARTER MILE OF THE DESCHUTES RIVER. THE PARK RECEIVES OVER 250,000 VISITORS EACH YEAR AND IS ONE OF THE LARGEST PRIVATELY OWNED PARKS IN WASHINGTON STATE. EVERY FALL, THOUSANDS OF VISITORS AND SCHOOL STUDENTS WITNESS THE MAJESTIC SALMON WORKING THEIR WAY UP THE RIVER DURING THEIR ANNUAL MIGRATION.
SINCE 1966, THE OLYMPIA TUMWATER FOUNDATION HAS BEEN OFFERING SCHOLARSHIPS TO GRADUATING SENIORS FROM THURSTON COUNTY HIGH SCHOOLS AND HAS BECOME A MAJOR SCHOLARSHIP SOURCE IN THE COMMUNITY. THE PROGRAM HAS AIDED MORE THAN 500 LOCAL STUDENTS WITH OVER $2.0M APPLIED TOWARD THEIR CONTINUING EDUCATION. THE FOUNDATION IS GOVERNED BY A BOARD OF RESPECTED COMMUNITY LEADERS AND HAS DEEP, LONGSTANDING TIES TO THE SOUTH PUGET SOUND REGION.
THE FOUNDATION ALSO OWNS AND OPERATES THE HISTORIC SCHMIDT HOUSE BUILT IN 1904 BY LEOPOLD SCHMIDT, FOUNDER OF THE OLYMPIA BREWING COMPANY. THE HOME IS MADE AVAILABLE TO VARIOUS NONPROFIT, CULTURAL, EDUCATIONAL AND HISTORIC ORGANIZATIONS IN SUPPORT OF THEIR MISSION. ALSO LOCATED IN THE HOUSE ARE THE FOUNDATION ARCHIVES WHICH SERVE AS A REPOSITORY FOR ARTIFACTS, DOCUMENTS, AND OBJECTS PRESERVING THE MEMORY AND LEGACY OF THE SCHMIDT FAMILY AND THE OLYMPIA BREWING COMPANY AS WELL AS SUPPORTING AND PROMOTING THE ARCHITECTURAL AND CULTURAL HERITAGE OF THE TUMWATER HISTORIC DISTRICT.THE FOUNDATION HAS A ROBUST HISTORY PROGRAM STAFFED BY A PUBLIC HISTORY MANAGER AND ARCHIVIST TO ARCHIVES CURATION AND PRESERVATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Freedman Executive Director | Officer | 40 | $114,068 |
Waite Dalrymple Vice President | OfficerTrustee | 1 | $0 |
Lee Wojnar President | OfficerTrustee | 1 | $0 |
Gary Swindler Treasurer | OfficerTrustee | 1 | $0 |
Fred Gentry Trustee | Trustee | 0.5 | $0 |
Jill Crowson Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $150,748 |
| All other contributions, gifts, grants, and similar amounts not included above | $62,417 |
| Noncash contributions included in lines 1a–1f | $6,346 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $213,165 |
| Total Program Service Revenue | $0 |
| Investment income | $274,350 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $672 |
| Net Gain/Loss on Asset Sales | $456,939 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $945,126 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,060 |
| Grants and other assistance to domestic individuals. | $121,490 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,068 |
| Compensation of current officers, directors, key employees. | $44,148 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $154,088 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $88 |
| Fees for services: Accounting | $8,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,753 |
| Fees for services: Other | $92,785 |
| Advertising and promotion | $0 |
| Office expenses | $17,978 |
| Information technology | $15,710 |
| Royalties | $0 |
| Occupancy | $31,828 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,340 |
| Insurance | $25,356 |
| All other expenses | $0 |
| Total functional expenses | $795,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,813 |
| Savings and temporary cash investments | $149,908 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,922 |
| Net Land, buildings, and equipment | $644,379 |
| Investments—publicly traded securities | $10,744,515 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $831,035 |
| Total assets | $12,508,072 |
| Accounts payable and accrued expenses | $58,387 |
| Grants payable | $50,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $78,690 |
| Total liabilities | $187,077 |
| Net assets without donor restrictions | $11,386,803 |
| Net assets with donor restrictions | $934,192 |
| 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 | $12,508,072 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Olympia-Tumwater Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Myles D And J Faye Sampson Family Foundation Bethesda, MD PURPOSE: GENERAL OPERATING | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amazonsmile Foundation Seattle, WA | $32,322,159 | $94,115,479 |
Gates Philanthropy Partners Seattle, WA | $58,428,866 | $30,155,547 |
Paul G Allen Family Foundation Seattle, WA | $0 | $45,218,114 |
Friday Foundation Medina, WA | $32,805,393 | $16,602 |
Rasmuson Foundation Anchorage, AK | $851,377,242 | $102,826,089 |
J A & Kathryn Albertson Foundation Inc Boise, ID | $0 | $34,850,275 |
Intel Foundation Hillsboro, OR | $50,440,341 | $47,262 |
Roots And Wings Foundation Inc Seattle, WA | $315,937,030 | $249,888,695 |
Schultz Family Foundation Seattle, WA | $463,519,339 | $158,807,992 |
The Lemelson Foundation Portland, OR | $488,510,181 | $33,726,014 |
Norcliffe Foundation Seattle, WA | $18,121,640 | $25,144,033 |
Wilburforce Foundation Seattle, WA | $159,747,435 | $25,133,506 |