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Nonprofiteer
← SEATTLE PACIFIC FOUNDATION

Form 990 for tax year 2023

Filed by SEATTLE PACIFIC FOUNDATION.

Totals

Total revenue
$980,258
Total expenses
$1,320,124
Contributions and grants received
$0
Grants paid
$370,278
Program service revenue
$0
Investment income
$43,744
Other revenue
$936,514
Total assets, end of year
$192,654,670
Total liabilities, end of year
$184,430,693
Net assets or fund balances, end of year
$8,223,977
Program services expenses (Part IX)
$1,128,012
Management and general expenses
$192,112
Fundraising expenses
$0
Program service expenses (Part III)
$1,128,012

Program services were 85.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $43,744 · excluded $43,744

  • 11a · Other revenue: INVESTMENT MANAGEMENT

    total $919,921 · related or exempt $919,921

  • 11b · Other revenue: TRUST MANAGEMENT FEES

    total $16,593 · related or exempt $16,593

  • 11e · Other revenue, total

    $936,514

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $370,278 · program services $370,278

  • 5 · Compensation of officers, directors and key employees

    total $247,395 · program services $173,177 · management and general $74,218

  • 7 · Other salaries and wages

    total $297,084 · program services $207,959 · management and general $89,125

  • 9 · Other employee benefits

    total $95,897 · program services $67,128 · management and general $28,769

  • 11b · Fees: legal

    total $30,055 · program services $30,055

  • 11c · Fees: accounting

    total $46,052 · program services $46,052

  • 16 · Occupancy

    total $45,994 · program services $45,994

  • 17 · Travel

    total $2,171 · program services $2,171

  • 24a · Other expenses: TAX ON UNRELATED BUSINE

    total $144,911 · program services $144,911

  • 24b · Other expenses: COMPUTING SERVICES

    total $15,754 · program services $15,754

  • 24c · Other expenses: OTHER CONTRACT PROFESSI

    total $9,696 · program services $9,696

  • 24d · Other expenses: SUPPLIES

    total $6,812 · program services $6,812

  • 24e · All other expenses

    total $8,025 · program services $8,025

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $14,528,531 · end of year $23,852,629

  • 4 · Accounts receivable

    beginning of year $176,464 · end of year $141,700

  • 7 · Other notes and loans receivable

    beginning of year $106,950 · end of year $106,950

  • 10a · Land, buildings and equipment: cost or other basis

    $14,375,000

  • 10c · Land, buildings and equipment, net

    beginning of year $13,175,000 · end of year $14,375,000

  • 11 · Investments: publicly traded securities

    beginning of year $75,717,364 · end of year $62,274,388

  • 12 · Investments: other securities

    beginning of year $91,692,847 · end of year $91,904,003

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,000 · end of year $9,730

  • 25 · Other liabilities

    beginning of year $187,747,557 · end of year $184,420,963

  • 27 · Net assets without donor restrictions

    beginning of year $1,370,279 · end of year $1,175,324

  • 28 · Net assets with donor restrictions

    beginning of year $6,278,320 · end of year $7,048,653

Mission and programs · 2023

Mission

TO SUPPORT SEATTLE PACIFIC UNIVERSITY. THE FOUNDATION MAY MAKE GIFTS AND GRANTS TO OTHER RELIGIOUS, EDUCATIONAL AND CHARITABLE ORGANIZATIONS AS DETERMINED BY THE BOARD OF DIRECTORS.

Activities or mission (Part I)

TO SUPPORT GOALS AND ACTIVITIES OF SEATTLE PACIFIC UNIVERSITY AND OTHER EDUCATIONAL, RELIGIOUS, AND CHARITABLE ORGANIZATIONS THROUGH THE INVESTMENT OF ENDOWMENT AND TRUST ASSETS AND THE MANAGEMENT OF TRUSTS AND ANNUITIES.

  • INVESTMENT MANAGEMENT OF UNIVERSITY ENDOWMENT FUNDS AND ADMINISTRATION OF CHARITABLE TRUSTS WHERE SEATTLE PACIFIC UNIVERSITY AND OTHER 501(C)(3) CHARITIES ARE THE CHARITABLE REMAINDERMEN.

    Expenses $1,128,012 · Grants $370,278

As filed on the 2023 return.

Listed in Part VII

  • Mark L Cederborg

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Donald W Mortenson

    DIRECTOR

    Total calculated
    $150,816
    From this org
    $0
    From related orgs
    $150,628
    Other
    $188
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $144,372 related
    Bonus
    $0
    Other
    $0 + $6,256 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $188 related
    Filer's total
    $0 + $150,816 related

  • Gordon A Nygard

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Brian D Pearson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Larry Roberts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Kimberly Sawers

    VICE CHAIR

    Total calculated
    $310,645
    From this org
    $0
    From related orgs
    $278,057
    Other
    $32,588
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $275,827 related
    Bonus
    $0
    Other
    $0 + $2,230 related
    Deferred
    $0 + $23,570 related
    Nontaxable benefits
    $0 + $9,018 related
    Filer's total
    $0 + $310,645 related

  • Tony Scherrer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Nancy A Zevenbergen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Brian Ficken

    TREASURER

    Total calculated
    $199,245
    From this org
    $169,817
    From related orgs
    $0
    Other
    $29,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,817
    Bonus
    $0
    Other
    $0
    Deferred
    $15,888
    Nontaxable benefits
    $13,540
    Filer's total
    $199,245

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ONE CHARITABLE REMAINDER TRUST

    T · INVESTING · WA

    Directly controlled by SEATTLE PACIFIC FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531349349312123

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