Seafair Charitable Foundation

Analysis

Seafair Charitable Foundation is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Seafair Charitable Foundation reported income of $3.9m and spending of $3.8m, spending 97% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $252k to $3.9m (+1464%), an average of +150% a year. The sharpest change came in the year to December 2022, when income rose by 336%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Seafair Charitable Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within WA. Charities of a similar size with the same main cause include Minnesota Council of Nonprofits Inc ($3.9m), Washington Regional Association of Grantmakers ($3.9m) and Resource Generation ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $188k (4.9% of expenses). Other salaries and wages came to $445k. At year end it held assets of $1.4m against liabilities of $829k, net assets of $582k. It reported 6 employees.