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← SEATTLE SYMPHONY FOUNDATION

Form 990 for tax year 2024

Filed by SEATTLE SYMPHONY FOUNDATION.

Totals

Total revenue
$5,098,029
Total expenses
$3,575,959
Contributions and grants received
$1,027,751
Grants paid
$3,121,645
Program service revenue
$0
Investment income
$4,070,278
Other revenue
$0
Total assets, end of year
$50,295,071
Total liabilities, end of year
$157,785
Net assets or fund balances, end of year
$50,137,286
Program services expenses (Part IX)
$3,121,645
Management and general expenses
$302,846
Fundraising expenses
$151,468
Program service expenses (Part III)
$3,121,645

Program services were 87.3% 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.

  • 1f · All other contributions, gifts and grants

    $1,027,751

  • 3 · Investment income

    total $995,716 · excluded $995,716

  • 7a · Gross sales of assets other than inventory

    securities $3,074,562

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

    securities $0

  • 7c · Gain or loss

    securities $3,074,562

  • 7d · Net gain or loss

    total $3,074,562 · excluded $3,074,562

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,121,645 · program services $3,121,645

  • 7 · Other salaries and wages

    total $150,000 · fundraising $150,000

  • 11a · Fees: management

    total $100,000 · management and general $100,000

  • 11c · Fees: accounting

    total $43,295 · management and general $43,295

  • 11f · Fees: investment management

    total $159,405 · management and general $159,405

  • 11g · Fees: other

    total $1,468 · fundraising $1,468

  • 13 · Office expenses

    total $146 · management and general $146

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $73,162 · end of year $110,174

  • 2 · Savings and temporary cash investments

    beginning of year $2,202,693 · end of year $2,791,024

  • 3 · Pledges and grants receivable

    beginning of year $8,716,547 · end of year $8,262,122

  • 7 · Other notes and loans receivable

    beginning of year $1,019,382 · end of year $1,019,382

  • 11 · Investments: publicly traded securities

    beginning of year $36,470,290 · end of year $37,474,069

  • 15 · Other assets

    beginning of year $690,629 · end of year $638,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $104,274 · end of year $110,459

  • 25 · Other liabilities

    beginning of year $65,825 · end of year $47,326

  • 27 · Net assets without donor restrictions

    beginning of year $9,959,119 · end of year $9,910,368

  • 28 · Net assets with donor restrictions

    beginning of year $39,043,485 · end of year $40,226,918

Mission and programs · 2024

Mission

THE PRIMARY PURPOSE OF THE SEATTLE SYMPHONY FOUNDATION IS TO AID AND SUPPORT THE SEATTLE SYMPHONY ORCHESTRA AND BENAROYA HALL MUSIC CENTER ENDOWMENTS.

Activities or mission (Part I)

TO AID AND SUPPORT THE SEATTLE SYMPHONY ORCHESTRA AND BENAROYA HALL MUSIC CENTER ENDOWMENTS.

  • THE FOUNDATION'S ARTICLES OF INCORPORATION PROVIDE THAT UP TO 7.5% OF THE 36 MONTH ROLLING AVERAGE OF THE ENDOWMENT VALUE BE DISTRIBUTED ANNUALLY TO THE SEATTLE SYMPHONY ORCHESTRA TO SUPPORT ITS OPERATIONS. IN 2024, THE FOUNDATION BOARD APPROVED A DISTRIBUTION TO THE ORCHESTRA TOTALING 5% OF THE 36 MONTH AVERAGE OF ENDOWMENT VALUES.IN 2019 THE FOUNDATION ADDED A NEW ENDOWMENT FUND FOR THE BENEFIT OF BENAROYA MUSIC HALL. IN 2024, THE FOUNDATION BOARD APPROVED A DISTRIBUTION TO BENAROYA HALL TOTALING 5% OF A ROLLING 36 MONTH AVERAGE OF THE ENDOWMENT VALUES.

    Expenses $3,121,645 · Grants $3,121,645

As filed on the 2024 return.

Listed in Part VII

  • MICHAEL SLONSKI

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • KATHLEEN WRIGHT

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • MURIEL VAN HOUSEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • YUKA SHIMIZU

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • SUSAN COUGHLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • LYN GRINSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • DOUGLAS JACKSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • JON ROSEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • DAVID TAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RICK WHITE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KRISHNA THIAGARAJAN

    PRESIDENT & CEO

    Total calculated
    $481,333
    From this org
    $0
    From related orgs
    $429,915
    Other
    $51,418
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $429,915 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $37,618 related
    Filer's total
    $0 + $481,333 related

  • CHERONNE WONG

    CFO & BENAROYA HALL COO

    Total calculated
    $323,806
    From this org
    $0
    From related orgs
    $275,624
    Other
    $48,182
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $254,618 related
    Bonus
    $0 + $21,006 related
    Other
    $0
    Deferred
    $0 + $10,564 related
    Nontaxable benefits
    $0 + $37,618 related
    Filer's total
    $0 + $323,806 related

  • MARIA YANG

    CEO & VP OF DEVELOPMENT

    Total calculated
    $318,568
    From this org
    $0
    From related orgs
    $278,156
    Other
    $40,412
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,890 related
    Bonus
    $0 + $8,266 related
    Other
    $0
    Deferred
    $0 + $11,042 related
    Nontaxable benefits
    $0 + $29,370 related
    Filer's total
    $0 + $318,568 related

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART III:
COMPENSATION FOR THE PRESIDENT & CEO, CFO & BENAROYA HALL COO AND CEO & VP OF DEVELOPMENT IS REVIEWED AND ESTABLISHED BY THE SEATTLE SYMPHONY ORCHESTRA, INC., A RELATED ORGANIZATION, AND THE COSTS ARE NOT INCURRED OR ALLOCATED TO SEATTLE SYMPHONY FOUNDATION.

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.

  • CHARITABLE LEAD ANNUITY TRUST (1)

    T · INVESTMENTS · WA

Provenance

Return type
form_990
Tax year
2024
Filed
7 July 2026
IRS schema version
2024v5.5
Source object
202601919349301310

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