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Nonprofiteer
← FRIENDS OF SEATTLE WATERFRONT

Form 990 for tax year 2024

Filed by FRIENDS OF SEATTLE WATERFRONT.

Totals

Total revenue
$21,016,878
Total expenses
$28,741,877
Contributions and grants received
$18,113,095
Grants paid
$20,065,000
Program service revenue
$22,173
Investment income
$2,868,561
Other revenue
$13,049
Total assets, end of year
$25,011,571
Total liabilities, end of year
$1,443,372
Net assets or fund balances, end of year
$23,568,199
Program services expenses (Part IX)
$26,364,420
Management and general expenses
$1,268,936
Fundraising expenses
$1,108,521
Program service expenses (Part III)
$26,364,420

Program services were 91.7% 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.

  • 1c · Fundraising events

    $41,165

  • 1e · Government grants (contributions)

    $3,014,205

  • 1f · All other contributions, gifts and grants

    $15,057,725

  • 1g · Noncash contributions included above

    $19,776

  • 2a · Program service revenue: EVENT PRODUCTION HELP

    total $22,173 · related or exempt $22,173

  • 3 · Investment income

    total $967,110 · excluded $967,110

  • 6a · Gross rents

    real property $5,677

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $5,677

  • 6d · Net rental income or loss

    total $5,677 · excluded $5,677

  • 7a · Gross sales of assets other than inventory

    securities $21,350,043

  • 7b · Less cost or other basis and sales expenses

    securities $19,448,592

  • 7c · Gain or loss

    securities $1,901,451

  • 7d · Net gain or loss

    total $1,901,451 · excluded $1,901,451

  • 8a · Fundraising events: gross income

    $211,338

  • 8a · Fundraising events: contributions included on line 1c

    $41,165

  • 8b · Fundraising events: direct expenses

    $211,338

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: STIPENDS

    total $6,400 · excluded $6,400

  • 11b · Other revenue: OTHER INCOME

    total $972 · excluded $972

  • 11e · Other revenue, total

    $7,372

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,065,000 · program services $20,065,000

  • 5 · Compensation of officers, directors and key employees

    total $521,136 · program services $250,841 · management and general $125,421 · fundraising $144,874

  • 7 · Other salaries and wages

    total $2,972,409 · program services $1,954,524 · management and general $606,587 · fundraising $411,298

  • 8 · Pension plan contributions

    total $50,521 · program services $31,892 · management and general $10,586 · fundraising $8,043

  • 9 · Other employee benefits

    total $402,919 · program services $254,350 · management and general $84,424 · fundraising $64,145

  • 10 · Payroll taxes

    total $335,274 · program services $211,647 · management and general $70,251 · fundraising $53,376

  • 11b · Fees: legal

    total $35,413 · management and general $35,413

  • 11c · Fees: accounting

    total $32,880 · management and general $32,880

  • 11e · Fees: professional fundraising services

    total $60,678 · fundraising $60,678

  • 11g · Fees: other

    total $665,427 · program services $432,203 · management and general $143,117 · fundraising $90,107

  • 12 · Advertising and promotion

    total $292,247 · program services $292,247

  • 13 · Office expenses

    total $101,740 · program services $64,225 · management and general $21,318 · fundraising $16,197

  • 16 · Occupancy

    total $207,901 · program services $131,241 · management and general $43,562 · fundraising $33,098

  • 17 · Travel

    total $28,650 · program services $18,086 · management and general $6,003 · fundraising $4,561

  • 22 · Depreciation, depletion and amortization

    total $97,720 · program services $97,720

  • 23 · Insurance

    total $45,384 · program services $28,650 · management and general $9,509 · fundraising $7,225

  • 24a · Other expenses: PUBLIC SPACE ACTIVATION

    total $2,380,690 · program services $2,380,690

  • 24b · Other expenses: OTHER

    total $281,545 · program services $84,823 · management and general $79,865 · fundraising $116,857

  • 24c · Other expenses: EVENTS

    total $98,062 · fundraising $98,062

  • 24d · Other expenses: COMMUNITY ENGAGEMENT

    total $66,281 · program services $66,281

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,598,558 · end of year $1,794,405

  • 2 · Savings and temporary cash investments

    beginning of year $16,507,008 · end of year $12,535,999

  • 3 · Pledges and grants receivable

    beginning of year $13,854,524 · end of year $8,958,122

  • 9 · Prepaid expenses and deferred charges

    beginning of year $78,813 · end of year $15,257

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

    $1,111,772

  • 10b · Land, buildings and equipment: accumulated depreciation

    $360,734

  • 10c · Land, buildings and equipment, net

    beginning of year $134,732 · end of year $751,038

  • 15 · Other assets

    beginning of year $1,157,750 · end of year $956,750

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,484,890 · end of year $1,389,827

  • 19 · Deferred revenue

    beginning of year $0 · end of year $48,545

  • 25 · Other liabilities

    beginning of year $0 · end of year $5,000

  • 27 · Net assets without donor restrictions

    beginning of year $23,515,275 · end of year $14,344,540

  • 28 · Net assets with donor restrictions

    beginning of year $9,331,220 · end of year $9,223,659

Mission and programs · 2024

Mission

TO BRING PEOPLE, COMMUNITIES, AND RESOURCES TOGETHER TO ENSURE WATERFRONT PARK THRIVES AS A VIBRANT GATHERING SPACE - UPLIFTING LOCALS, FOSTERING CONNECTIONS AND HONORING SEATTLE'S NATURAL BEAUTY AND STORIES.

  • GRANT TO CITY OF SEATTLE FOR CAPITAL IMPROVEMENTS TO THE CENTRAL WATERFRONT PROJECT.

    Expenses $20,000,000 · Grants $20,000,000

  • FRIENDS OF WATERFRONT PARK IS THE NONPROFIT PARTNER TO THE CITY OF SEATTLE TO HELP BUILD, OPERATE, PROGRAM, AND STEWARD THE FUTURE WATERFRONT PARK, SLATED TO OPEN IN 2025. IN 2024, FRIENDS HOSTED OVER 60 ACTIVATIONS AT WATERFRONT PARK, INCLUDING PERFORMANCES, FESTIVALS, AND A VENDING PROGRAM PILOT, DRAWING 30,000+ ATTENDEES. MOST EVENTS WERE FREE, WITH ONE TICKETED EVENT. PROGRAMS FEATURED 23 EVENTS, 4 INDIGENOUS ART INSTALLATIONS, AND 9 MINORITY-OWNED VENDORS. OF THESE, 17 HAD POC REPRESENTATION AND 7 INCLUDED INDIGENOUS PARTNERS, INVOLVING OVER 100 COLLABORATORS, INCLUDING 39 EVENT PARTNERS, 71 RETAIL AND FOOD CONCESSIONAIRES, AND 73 ARTISTS AND ENTERTAINERS.

    Expenses $6,364,420 · Grants $65,000 · Revenue $22,173

As filed on the 2024 return.

Listed in Part VII

  • MAGGIE WALKER

    CHAIR AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLIE WRIGHT

    VICE CHAIR AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN NESHOLM

    TREASURER AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • OLIVE GOH

    SECRETARY AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RYAN SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATRICK GORDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM BYERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEVIN GEIGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LEONARD FORSMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARTHA KONGSGAARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KARLA BROLLIER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • FALONA JOY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEANNIE NORDSTROM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRIS DEVORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARLA LEWIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORI METCALF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STUART ROLFE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAYLEY RUNSTAD SWAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAN KULLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CAROL BINDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULIE STEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEWAN TESHOME

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LOUIE UNGARO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRADY WALKINSHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIKE HALPERIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SAEMA SOMALYA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAELA RAIKES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOY SHIGAKI

    PRESIDENT AND CEO

    Total calculated
    $310,410
    From this org
    $291,275
    From related orgs
    $0
    Other
    $19,135
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,275
    Bonus
    $0
    Other
    $0
    Deferred
    $8,700
    Nontaxable benefits
    $10,435
    Filer's total
    $310,410

  • ELDON TAM

    CHIEF OPERATING OFFICER

    Total calculated
    $210,726
    From this org
    $204,000
    From related orgs
    $0
    Other
    $6,726
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,000
    Bonus
    $0
    Other
    $0
    Deferred
    $6,126
    Nontaxable benefits
    $600
    Filer's total
    $210,726

  • ANNA O'DONNELL

    CHIEF PHILANTHROPY OFFICER

    Total calculated
    $193,151
    From this org
    $176,212
    From related orgs
    $0
    Other
    $16,939
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,212
    Bonus
    $0
    Other
    $0
    Deferred
    $5,292
    Nontaxable benefits
    $11,647
    Filer's total
    $193,151

  • YOON KANG-O'HIGGINS

    SR DIRECTOR OF COMMUNITY IMPACT & PROGRAMS

    Total calculated
    $206,951
    From this org
    $170,000
    From related orgs
    $0
    Other
    $36,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,000
    Bonus
    $0
    Other
    $0
    Deferred
    $5,106
    Nontaxable benefits
    $31,845
    Filer's total
    $206,951

  • SHIVA SHAFII

    DIRECTOR OF MARKETING & COMMUNICATIONS

    Total calculated
    $153,271
    From this org
    $144,525
    From related orgs
    $0
    Other
    $8,746
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,525
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,746
    Filer's total
    $153,271

  • FRANK MERGES

    SR MANAGER OF MARKETING & CONTENT

    Total calculated
    $132,015
    From this org
    $106,822
    From related orgs
    $0
    Other
    $25,193
    Hours/week
    40

  • JOEY SMITH

    ASSISTANT DIRECTOR OF PHILANTHROPY

    Total calculated
    $119,506
    From this org
    $105,883
    From related orgs
    $0
    Other
    $13,623
    Hours/week
    40

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

None.

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

Provenance

Return type
form_990
Tax year
2024
Filed
21 October 2025
IRS schema version
2024v5.2
Source object
202523089349302867

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