Friends of Seattle Waterfront

EIN: 800867356 501(c)(3) Community Improvement

Seattle, WA

Total Revenue
$40,720,932
Total Expenses
$33,808,963
Total Assets
$34,331,385
Net Assets
$32,846,495
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
WA
Principal Officer
John Nesholm
Phone
2063825552
Tax Period
2023-01-01 to 2023-12-31

Friends of Seattle Waterfront, founded in 2012, is a mid-sized nonprofit in the Community Improvement sector that reported $40.7M in total revenue in fiscal year 2023. Revenue surged 89% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.9M, a strong 17% operating margin.

Mission

To support, through outreach, fundraising and stewardship, the City's Waterfront Seattle project: Creation of a park along the central shoreline to benefit the public

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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 (2023)

Revenue Breakdown

Contributions & Grants $39,605,294
Program Service Revenue $42,160
Investment Income $1,050,248
Other Revenue $23,230
TOTAL REVENUE $40,720,932

Expense Breakdown

Grants Paid $25,084,900
Salaries & Benefits $4,157,883
Fundraising Expenses $924,000
Program Expenses $31,659,980
Other Expenses $4,447,925
TOTAL EXPENSES $33,808,963

Year-over-Year Comparison

2023 2022 Change
Revenue $40,720,932 $21,501,273 +0.9%
Expenses $33,808,963 $27,418,369 +0.2%
Net Income $6,911,969 $-5,917,096 -2.2%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
27
Independent Members
27
Employees
59
Volunteers
75

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
6
$474,492
Total Directors
27
$0
Key Employees
2
$474,492
Highest Compensated
7
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mary Bass Director 1.00
Director
$0 $0 $0
Karla Brollier Director 1.00
Director
$0 $0 $0
Carol Binder Director 1.00
Director
$0 $0 $0
Tom Byers Director 1.00
Director
$0 $0 $0
Chris DeVore Director 1.00
Director
$0 $0 $0
Leonard Forsman Director 1.00
Director
$0 $0 $0
Kevin Geiger Director 1.00
Director
$0 $0 $0
Olive Goh Director 1.00
Director
$0 $0 $0
Patrick Gordon Director 1.00
Director
$0 $0 $0
Mike Halperin Director 1.00
Director
$0 $0 $0
Sandra Jackson-Dumont Director 1.00
Director
$0 $0 $0
Falona Joy Director 1.00
Director
$0 $0 $0
Martha Kongsgaard Director 1.00
Director
$0 $0 $0
Dan Kully Director 1.00
Director
$0 $0 $0
Carla Lewis Director 1.00
Director
$0 $0 $0
Lori Metcalf Director 1.00
Director
$0 $0 $0
John Nesholm Treasurer and Director 2.00
Officer Director
$0 $0 $0
Jeannie Nordstrom Secretary and Director 1.00
Officer Director
$0 $0 $0
Stuart Rolfe Director 1.00
Director
$0 $0 $0
Kayey Runstad Swan Director 1.00
Director
$0 $0 $0
Ryan Smith Director 1.00
Director
$0 $0 $0
Julie Stein Director 1.00
Director
$0 $0 $0
Hewan Teshome Director 1.00
Director
$0 $0 $0
Louie Ungaro Director 1.00
Director
$0 $0 $0
Maggie Walker Chair and Director 5.00
Officer Director
$0 $0 $0
Brady Pinero Walkinshaw Director 1.00
Director
$0 $0 $0
Charles Wright Vice-Chair and Director 1.00
Officer Director
$0 $0 $0
Joy Shigaki CEO 40.00
Officer Key Emp
$260,000 $19,004 $279,004
Eldon Tam Chief Operating Officer 40.00
Officer Key Emp
$189,000 $6,488 $195,488
Yoon Kang-O'Higgins Director of Public Programs 40.00
Highest
$154,224 $36,918 $191,142
Anna O'Donnell Chief Philanthropy Officer 40.00
Highest
$170,748 $16,957 $187,705
Marie Kidhe Director of Community Relations 40.00
Highest
$130,971 $15,687 $146,658
Amanda Streams Director of Park Experience & Operations 40.00
Highest
$131,250 $13,202 $144,452
Britt Rynearson Communications Director 40.00
Highest
$110,703 $600 $111,303
Joey Smith Assistant Director of Philanthropy 40.00
Highest
$102,600 $13,481 $116,081
Maria Reyna Assistant Director of Community Impact and Programs 40.00
Highest
$100,700 $13,078 $113,778
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
2024 No data No data No data No data
2023 $40,720,932 $33,808,963 $34,331,385 $6,911,969
2022 $21,501,273 $27,418,369 $26,413,747 $-5,917,096
2021 $18,451,565 $15,422,637 $32,295,569 $3,028,928
2020 $27,937,023 $11,357,332 $29,297,257 $16,579,691
2019 $10,122,860 $2,423,229 $12,430,142 $7,699,631
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