Artsfund Foundation
- Assets
- $32.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 01/1998
- Data as of
- 09/2021
- EIN
- 91-1866831
Organization Overview
Artsfund Foundation is located in Seattle, WA. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Artsfund 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 09/2021, Artsfund Foundation generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2021. 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
TO SUPPORT THE ACTIVITIES OF AND FOR THE BENEFIT OF ARTSFUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTSFUND FOUNDATION PROVIDES MANAGEMENT OF ENDOWMENT FUNDS FOR ARTSFUND, A SEPARATE IRC SECTION 501(C)(3) ORGANIZATION. ARTSFUND PROVIDES OPERATING GRANTS TO IRS SECTION 501(C)(3) NONPROFIT ARTS ORGANIZATIONS. ARTSFUND FOUNDATION PAID $841,000 TO ARTSFUND DURING FISCAL YEAR ENDING SEPTEMBER 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Mcdade Vice Chair (thru 7/21), Chair | OfficerTrustee | 0.5 | $0 |
Judi Beck Secretary (thru 7/21), Vice Chair | OfficerTrustee | 0.3 | $0 |
James F Tune Chair (thru 06/21) | OfficerTrustee | 1 | $0 |
James R Duncan Secretary (from 7/21) | OfficerTrustee | 0.3 | $0 |
Michael Greer President & CEO | Officer | 0.5 | $0 |
Rodney K Fujita Trustee | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $250,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,000 |
| Total Program Service Revenue | $0 |
| Investment income | $373,135 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $849,748 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,472,883 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $841,000 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $147,850 |
| Fees for services: Other | $25,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,013,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $32,553,145 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,553,145 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $14,370,149 |
| Net assets with donor restrictions | $18,182,996 |
| 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 | $32,553,145 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Artsfund Foundation has recieved totaling $260,000.
| Awarding Organization | Amount |
|---|---|
Artsfund Seattle, WA PURPOSE: GENERAL SUPPORT AND PROJECT SUPPORT | $250,000 |
The Dorsey And Whitney Foundation Minneapolis, MN PURPOSE: General Support | $10,000 |
Endowment Analysis
| Beg. Balance | $27,808,362 |
| Earnings | $5,508,817 |
| Admin Expense | $148,034 |
| Net Contributions | $250,000 |
| Grants | $866,000 |
| Ending Balance | $32,553,145 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Artsfund Foundation Seattle, WA | $32,553,145 | $1,472,883 |
Ferry Family Charitable Foundation Seattle, WA | $12,576,317 | $2,012,520 |
Mcdougal Foundation Inc Springfield, OR | $3,465,557 | $1,676,343 |
Anchorage Concert Foundation Anchorage, AK | $6,263,266 | $305,327 |
Seattle Childrens Theatre Foundation Seattle, WA | $4,485,050 | $87,884 |
Sunnyside Christian Thrift Shop Sunnyside, WA | $194,161 | $259,830 |
Behnke Foundation Seattle, WA | $2,205,309 | $217,715 |
Mary Clara Allison Charitable Trust Portland, OR | $2,961,345 | $127,640 |
Oregon Hospitality Foundation Wilsonville, OR | $582,544 | $126,448 |
Mano A Mano Prescott, WA | $1,263,895 | $144,072 |
Bruce W Gilpin Memorial Foundation University Place, WA | $1,780,698 | $97,085 |
Battelle Energy Alliance Llc Bea Etc Idaho Falls, ID | $214,741 | $0 |