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Nonprofiteer
← PIKE PLACE MARKET FOUNDATION

Form 990 for tax year 2023

Filed by PIKE PLACE MARKET FOUNDATION.

Totals

Total revenue
$3,481,788
Total expenses
$4,051,213
Contributions and grants received
$3,588,605
Grants paid
$2,271,521
Program service revenue
$0
Investment income
$213,097
Other revenue
-$319,914
Total assets, end of year
$10,535,170
Total liabilities, end of year
$1,609,130
Net assets or fund balances, end of year
$8,926,040
Program services expenses (Part IX)
$2,925,452
Management and general expenses
$364,216
Fundraising expenses
$761,545
Program service expenses (Part III)
$2,925,452

Program services were 72.2% 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

    $818,091

  • 1f · All other contributions, gifts and grants

    $2,770,514

  • 1g · Noncash contributions included above

    $316,796

  • 3 · Investment income

    total $213,097 · excluded $213,097

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $53,353 · excluded $53,353

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $181,008

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

    $818,091

  • 8b · Fundraising events: direct expenses

    $555,982

  • 8c · Net income from fundraising events

    total -$374,974 · excluded -$374,974

  • 9a · Gaming: gross income

    $44,205

  • 9b · Gaming: direct expenses

    $42,572

  • 9c · Net income from gaming

    total $1,633 · excluded $1,633

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $74 · excluded $74

  • 11e · Other revenue, total

    $74

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,543,224 · program services $1,543,224

  • 2 · Grants to domestic individuals

    total $728,297 · program services $728,297

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $165,833 · program services $68,773 · management and general $14,242 · fundraising $82,818

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $639,605 · program services $265,252 · management and general $54,930 · fundraising $319,423

  • 8 · Pension plan contributions

    total $25,142 · program services $10,427 · management and general $2,159 · fundraising $12,556

  • 9 · Other employee benefits

    total $122,198 · program services $50,677 · management and general $10,495 · fundraising $61,026

  • 10 · Payroll taxes

    total $85,112 · program services $35,297 · management and general $7,310 · fundraising $42,505

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $101,335 · management and general $101,335

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $58,155 · management and general $58,155

  • 11g · Fees: other

    total $54,932 · management and general $28,584 · fundraising $26,348

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $209,702 · program services $72,531 · management and general $2,886 · fundraising $134,285

  • 14 · Information technology

    total $55,405 · program services $1,609 · management and general $6,168 · fundraising $47,628

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $46,204 · management and general $46,204

  • 23 · Insurance

    total $5,628 · management and general $5,628

  • 24a · Other expenses: FOOD ACCESS

    total $147,668 · program services $136,794 · management and general $8,219 · fundraising $2,655

  • 24b · Other expenses: MISCELLANEOUS

    total $40,529 · program services $12,571 · management and general $11,019 · fundraising $16,939

  • 24c · Other expenses: CREDIT CARD PROCESSING

    total $15,362 · fundraising $15,362

  • 24d · Other expenses: CONTINUING EDUCATION

    total $6,882 · management and general $6,882

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,936,862 · end of year $2,753,661

  • 3 · Pledges and grants receivable

    beginning of year $275,086 · end of year $220,192

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,852 · end of year $43,498

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

    $806,388

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

    $391,131

  • 10c · Land, buildings and equipment, net

    beginning of year $461,461 · end of year $415,257

  • 11 · Investments: publicly traded securities

    beginning of year $7,273,566 · end of year $7,102,562

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $12,500 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $96,645 · end of year $133,130

  • 18 · Grants payable

    beginning of year $1,174,937 · end of year $1,371,000

  • 19 · Deferred revenue

    beginning of year $161,139 · end of year $105,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,512,686 · end of year $5,376,246

  • 28 · Net assets with donor restrictions

    beginning of year $3,053,920 · end of year $3,549,794

Mission and programs · 2023

Mission

TO RAISE FUNDS TO SUPPORT PROGRAMS THAT SERVE LOW-INCOME PEOPLE, HERITAGE PROGRAMS, AND PUBLIC IMPROVEMENTS IN SEATTLE'S PIKE PLACE MARKET.

  • Consists of Disbursements to the following Market-related Not-for-profit entities: Pike Market Medical Clinic - Provides low cost or free medical services for elderly and low income residents of the market area and downtown Seattle. $492k Pike Market Senior Center - Provides meals, social work, employment, and housing services for low income seniors of the market area and downtown Seattle. $385k Pike Market Child Care & Preschool - Provides daycare for low income working families in the area. $345k Pike Market Food Bank - Provides food to downtown residents who wouldn't otherwise be able to get food. $215k Food Access Project & Market Fresh Coupons - a food-coupon system for low-income residents to receive farm fresh produce $136,793 Heritage House at the Market - an assisted living program to serve low income and senior downtown residents. $106k

    Expenses $1,543,224 · Grants $1,543,224

  • In late 2017, the Foundation opened the Market Commons ("the Commons"), located in the new MarketFront. The Commons is a welcoming and inclusive neighborhood center that provides community resources as well as programs and activities in the Market. The Commons expands delivery of social services - both in the scope of services currently offered and in the number of people served by partner agencies.

    Expenses $653,931

  • Safety Net emergency relief for those living/working in and around the Market Community. Grants are paid directly to service provider i.e. utility company, rental agency. $ $70,079 Small Business Granting Program - Grants paid to Market Business, started as COVID relief, continues. Applications with specific business expenses cited. $658,218

    Expenses $728,297 · Grants $728,297

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LILLIAN SHERMAN

    EXECUTIVE DIRECTOR

    Total calculated
    $168,094
    From this org
    $155,979
    From related orgs
    $0
    Other
    $12,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,979
    Bonus
    $0
    Other
    $0
    Deferred
    $4,679
    Nontaxable benefits
    $7,436
    Filer's total
    $168,094

  • PATRICIA GRAY

    DIRECTOR OF PHILANTHROPY

    Total calculated
    $130,077
    From this org
    $119,174
    From related orgs
    $0
    Other
    $10,903
    Hours/week
    40

  • CRYSTAL DIXON

    DIRECTOR OF STRATEGIC IMPACT

    Total calculated
    $130,043
    From this org
    $119,175
    From related orgs
    $0
    Other
    $10,868
    Hours/week
    40

  • EDDIE KIRSCHENBAUM

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • JOEL CARSLEY

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • SHERRY BURKEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • ROSALYN ADAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIRSTEN ANDERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JONATHAN BAHE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KA BAO LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOHN BATES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CLINT BENNETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ALAN CAI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JAIME CAMPBELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JESSICA CARSO BHUIYAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CORA CHAIREZ-CARTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHRISTINE CRAIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • EDWARD GAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LINDY GAYLORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JASON HAMBLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ASHLEY HAYES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEN KATZAROFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MELITA LOVE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LARRY MELLUM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SARAH MILLS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DEAN MORELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RALUCA POP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JUMA RADZIKEVICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIM RAMIREZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • NATALIE ROMIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MATT ROSSTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LISA SAMSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SKYE SAYLOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHELE SHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • WARREN STICKNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOSE VAZQUEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHRIS VOLK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SCOTT WASNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ANGELIA WESCH

    Director

    Total calculated
    $0
    Hours/week
    2

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 · 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.

Provenance

Return type
form_990
Tax year
2023
Filed
10 February 2025
IRS schema version
2023v6.0
Source object
202530429349300848

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