SEAFAIR FOUNDATION

EIN: 261233489 501(c)(3)

SEATTLE, WA

Total Revenue
$216,023
Total Expenses
$185,491
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
WA
Principal Officer
ERIC CORNING
Phone
2067280123
Tax Period
2019-01-01 to 2019-12-31

SEAFAIR FOUNDATION, founded in 2009, is a small nonprofit that reported $216K in total revenue in fiscal year 2019. Expenses of $185K left a modest 14% surplus.

Mission

THE SEAFAIR FOUNDATION, THE CHARITABLE PARTNER OF THE SEAFAIR FESTIVAL, EMPOWERS FUTURE LEADERS AND CONNECTS OUR COMMUNITIES THROUGH EDUCATIONAL AND CULTURAL EXPERIENCES.

Program Service Accomplishments

Program 1
Expenses: $40,092

THE SEAFAIR FOUNDATION SCHOLARSHIP PROGRAM FOR WOMEN REACHED OUT TO PROFESSORS OF LOCAL UNIVERSITIES FOR NOMINATIONS FOR MISS SEAFAIR. EACH NOMINEE WAS INTERVIEWED VIA PHONE AND GRADED ON HER...

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THE SEAFAIR FOUNDATION SCHOLARSHIP PROGRAM FOR WOMEN REACHED OUT TO PROFESSORS OF LOCAL UNIVERSITIES FOR NOMINATIONS FOR MISS SEAFAIR. EACH NOMINEE WAS INTERVIEWED VIA PHONE AND GRADED ON HER SPEAKING ABILITY, PASSIONS, AND LEADERSHIP. THREE FINALISTS WERE SELECTED, AND EACH WAS INVITED FOR AN IN-PERSON INTERVIEW IN FRONT OF A THREE-PERSON PANEL WHERE MISS SEAFAIR WAS SELECTED. SHE WAS AWARDED A SCHOLARSHIP AND THE UNIQUE OPPORTUNITY TO REPRESENT SEAFAIR WHILE VISITING A VARIETY OF COMMUNITY EVENTS AND PARADES AND TO INTERACT WITH A WIDE VARIETY OF BUSINESS, CIVIC, PHILANTHROPIC, AND PUBLIC LEADERS IN THE GREATER SEATTLE REGION.

Program 2
Expenses: $20,654

THE SEAFAIR HOLIDAY CRUISE TAKES PLACE ON THE WATERS OF LAKE UNION, LAKE WASHINGTON AND PUGET SOUND AS INDEPENDENT BOATERS AND CHARTER OPERATORS VOLUNTEER THEIR BOATS, CREWS AND TIME TO HOST OVER...

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THE SEAFAIR HOLIDAY CRUISE TAKES PLACE ON THE WATERS OF LAKE UNION, LAKE WASHINGTON AND PUGET SOUND AS INDEPENDENT BOATERS AND CHARTER OPERATORS VOLUNTEER THEIR BOATS, CREWS AND TIME TO HOST OVER 1,500 INTELLECTUALLY DISABLED GUESTS, THEIR FAMILIES AND CAREGIVERS ON A SPECIAL HOLIDAY PARADE OF BOATS. AROUND 200 BOATS ARE DECKED OUT WITH HOLIDAY LIGHTS AND DECORATIONS AND LEAVE FROM DIFFERENT DOCKS AND YACHT CLUBS TO PARTICIPATE IN THE PARADE. WHILE ON BOARD THE BOATS GUESTS ARE TREATED TO SNACKS AND BEVERAGES AND ENJOY ENTERTAINMENT AS THEY CRUISE FOR TWO HOURS. AT THE END OF THE CRUISE SANTA AND HIS HELPERS ARE WAITING ON SHORE TO PASS OUT GIFT BAGS FOR EACH GUEST AND WISH THEM A HAPPY HOLIDAY. THE CRUISE GIVES EVERYONE THE OPPORTUNITY TO RELAX AND ENJOY THE HOLIDAY SEASON.

Program 3
Expenses: $40,092

THE SEAFAIR AMBASSADOR PROGRAM NURTURES FUTURE LEADERS THROUGH A PROGRAM OF EDUCATION, MENTORSHIP, VOLUNTEERISM, AND CULTURAL EXPOSURE TO CREATE A FUTURE OF VIBRANT AND PROSPEROUS COMMUNITIES IN THE...

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THE SEAFAIR AMBASSADOR PROGRAM NURTURES FUTURE LEADERS THROUGH A PROGRAM OF EDUCATION, MENTORSHIP, VOLUNTEERISM, AND CULTURAL EXPOSURE TO CREATE A FUTURE OF VIBRANT AND PROSPEROUS COMMUNITIES IN THE GREATER SEATTLE AREA. THE PROGRAM WORKS TO DEVELOP A PASSION FOR BUILDING INTERNATIONAL RELATIONSHIPS THROUGH THE CULTURAL EXCHANGE WITH STUDENTS FROM KOBE, JAPAN. LOCAL AREA STUDENTS ARE SELECTED FROM AN APPLICATION ESSAY ON COMMUNITY INVOLVEMENT AND PERSONAL INTERVIEWS WITH MEMBERS OF THE SEAFAIR BOARD OF DIRECTORS. SELECTED STUDENTS REPRESENT SEAFAIR THROUGHOUT THE YEAR THROUGH A VARIETY OF UNIQUE COMMUNITY PARTICIPATION OPPORTUNITIES. THROUGH VOLUNTEERISM AND PARTICIPATING IN FESTIVAL EVENTS, AMBASSADORS LEARN JUST HOW "GLOBAL- AND "LOCAL" THEIR OWN COMMUNITY IS. THEY ALSO HAVE THE OPPORTUNITY TO HOST AN INTERNATIONAL STUDENT FROM SEATTLE'S SISTER CITY, KOBE, JAPAN FOR A WEEK AND ARE AWARDED AN EXCHANGE TRIP TO KOBE WHERE THEY GET A CHANCE TO FULLY IMMERSE THEMSELVES IN ANOTHER CULTURE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $227,409
Program Service Revenue $0
Investment Income $0
Other Revenue $-11,386
TOTAL REVENUE $216,023

Expense Breakdown

Grants Paid $0
Salaries & Benefits $136,555
Fundraising Expenses $32,000
Program Expenses $121,491
Other Expenses $48,936
TOTAL EXPENSES $185,491

Year-over-Year Comparison

2019 2018 Change
Revenue $216,023 $218,035 0.0%
Expenses $185,491 $219,943 -0.2%
Net Income $30,532 $-1,908 -17.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
6
Independent Members
6
Employees
1
Volunteers
500

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$46,798
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD ANDERSEN PRESIDENT & 10.00
Officer
$0 $44,195 $44,195
ERIC CORNING PRESIDENT & 10.00
Officer
$0 $2,603 $2,603
JOEL ANDRUS TREASURER 1.00
Officer Director
$0 $0 $0
KAREN COULOMBE DIRECTOR 1.00
Director
$0 $0 $0
JAYMELINA ESMELE DIRECTOR 1.00
Director
$0 $0 $0
SASHA GOUREVITCH CHAIR 1.00
Officer Director
$0 $0 $0
AMANDA O'ROURKE DIRECTOR 1.00
Director
$0 $0 $0
STEVE SHAW DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2019 $216,023 $185,491 No data $30,532
2018 $218,035 $219,943 $96,813 $-1,908
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