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← Foundation for the Seattle Colleges

Form 990 for tax year 2023

Filed by Foundation for the Seattle Colleges.

Totals

Total revenue
$12
Total expenses
$1,201,195
Contributions and grants received
$0
Grants paid
$1,094,957
Program service revenue
$0
Investment income
$12
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$1,131,175
Management and general expenses
$70,020
Fundraising expenses
$0
Program service expenses (Part III)
$1,131,175

Program services were 94.2% 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.

  • 3 · Investment income

    total $12 · related or exempt $0 · unrelated business $0 · excluded $12

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

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,094,957 · program services $1,094,957

  • 11b · Fees: legal

    total $9,000 · management and general $9,000

  • 11c · Fees: accounting

    total $59,839 · management and general $59,839

  • 11g · Fees: other

    total $1,705 · program services $1,705

  • 13 · Office expenses

    total $1,181 · management and general $1,181

  • 23 · Insurance

    total $34,513 · program services $34,513

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $927,053 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $262,060 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,543 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,473 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,201,183 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

The Foundation for the Seattle Colleges exists to advance fundraising efforts for the Seattle Community College District. We seek to attract financial resources which support students so they may be successful; maintain the quality and deepen the expertise of our faculty and staff and sustain an array of educational programs using state-of-the-art equipment and technology in modern facilities.

  • Pacific Tower is Seattle College's newest home for health education programs and a dynamic hub for some of the most vital and innovative community nonprofits. Pacific Tower fosters an exciting model for cross-organizational collaboration in health care, education, social services, and job creation. Through management of State capital funding, federal tax credits, and local government contributions, the Foundation for Seattle Colleges plays a critical, time limited, supporting role with several other partners.

    Expenses $1,131,175 · Grants $1,094,957

As filed on the 2023 return.

Listed in Part VII

  • Traci Russell

    Executive Director

    Total calculated
    $4,497
    From this org
    $3,512
    From related orgs
    $0
    Other
    $985
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $3,512
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $985
    Filer's total
    $4,497

  • Bill Grinstein

    Chair & President

    Total calculated
    $0
    Hours/week
    2

  • Bruce Addison

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Steve Johnson

    Secretary

    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

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)

Schedule J, Part II
The compensation amounts reported on Form 990, Part VII, Section A for Traci Russell were paid by an unrelated organization, Seattle Colleges, for services provided to the Foundation for the Seattle Colleges. Traci Russell was paid $3,512 in salary and $985 in benefits for services provided to the Foundation for the Seattle Colleges.

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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
22 February 2024
IRS schema version
2023v4.0
Source object
202430539349301243

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