The Residency FY2021 filing

Tax-deductible

Seattle, WA501(c)(3)Arts & CultureEIN 84-4232460Revenue $254K in FY2021

On file with the IRStheresidencyseattle.org2033 6th Ave Ste 600, 98121-2591 · Seattle, WATax-exempt since Jun 2020Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

The Residency seeks to build a powerful community of young hip-hop artists equipped with the artistic and leadership skills, business acumen, and mentorship necessary to become professional artists and cultural change makers. Through their participation in the Residency, young artists from low-income families in the seattle area acquire tangible artistic and professional skills while also gaining confidence, teamwork, and a deepened understanding of their own identity and power.the year-round program includes a month long intensive workshop where up to 45 young people participate in either a vocal or production track. During the intensive, youth write original songs, record in a professional studio and perform in front of hundreds of people at a premiere seattle venue. In addition to making, recording and performing their music, the youth participate in a number of engaging panel discussions with leaders in the northwest creative community.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $183K a year · 31% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $1.0M
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$899
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$254K
-7% vs prior year
Spent
$277K
To programs
66%
Net assets
$161K
By yearFY2020–FY2024
Revenue
$254K
FY2021▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$274K
FY2021$254K
FY2022$584K
FY2023$686K
FY2024$1.1M
FY2024$531K
Expenses
$277K
FY2021▲ +211%
Tap a bar for its year
Expenses by fiscal year
FY2020$89K
FY2021$277K
FY2022$447K
FY2023$649K
FY2024$557K
FY2024$324K
Net assets
$161K
FY2021▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$185K
FY2021$161K
FY2022$298K
FY2023$336K
FY2024$917K
FY2024$1.1M

From the FY2021 Form 990 (year ending June 2021) · see the original

Give Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $183K Management & general 34% · $94K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President, Treasurer, Dire
$0Pt VII · Sec A
Secretary, Director
$0Pt VII · Sec A
Vice President, Director
$0Pt VII · Sec A
See The Residency executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers young hip-hop artists with skills and mentorship to become professionals and leaders.

Questions for The Residency

Tap to ask. The Residency sees how many people are interested.

Your first name shows with your question. The Residency answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

3 programs · $183K · in their own filed words · FY2020
01

The year-round program includes participating in performances in front of hundreds of people at a premiere seattle venuea and a number of engaging panel discussions with leaders in the northwest creative community.

$106Kprogram expense
02

Month long intensive workshop where up to 45 young people (ages 16-24) participate in either a vocal or production track. During the intensive, youth write original songs, record in a professional studio and perform in front of hundreds of people at a premiere seattle venue.

$59Kprogram expense
03

In recent years, the residency has built a reputation for being among the nation's finest hip-hop music institutions. To continue strengthening our community, we believe in providing our participants with access to higher education opportunities.

$17Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 6 funders →
Grants paid · 2 grants · $32K · 2023–2024
Unitemized GrantFY2024$21,180
Unitemized GrantFY2023$10,560

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$254K
Ln 12
Gifts and grantsLn 1h$254K
Money outPt IX
$277K
Ln 25
Programscol B$183K
Managementcol C$94K
Owns and owesPt X
$161K
net assets · Ln 32
Cash and savingsLn 1–2$146K
Total assetsLn 16$162K
LiabilitiesLn 26$899
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$254K
Total revenueLn 12$254K
Assets in detailPt X, end of year
CashLn 1$146K
Cash and savings togetherLn 1–2$146K
Total assetsLn 16$162K
LiabilitiesLn 26$899
Net assetsLn 32$161K
OperationsPt I, VI
EmployeesI 512
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$198K$146K
Total assetsLn 16$198K$162K
LiabilitiesLn 26$13K$899
Net assetsLn 32$185K$161K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$153K$90K$63K
Other employee benefitsLn 9$5K$3K$3K
Payroll taxesLn 10$14K$8K$6K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$57K$45K$12K
Advertising and promotionLn 12$6K$3K$3K
Office expensesLn 13$4K$2K$2K
OccupancyLn 16$420$420
Conferences, conventions and meetingsLn 19$53$53
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$26K$23K$3K
Total functional expensesLn 25$277K$183K$94K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.1M$557K$581K$917K 990 PDF
FY2023 $686K$649K$37K$336K 990 PDF
FY2022 $584K$447K$137K$298K 990 PDF
FY2021 Viewing $254K$277K−$23K$161K 990 PDF
FY2020 $274K$89K$185K$185K 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $253,681 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $273,922$254,211
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0−$530
I-12 Total revenuePrior year $273,922$253,681
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $28,887$172,331
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $60,275$104,630
I-18 Total expensesPrior year $89,162$276,961
I-19 Revenue less expensesPrior year $184,760−$23,280
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $253,681 across 3 lines filed
Lines not itemized here account for −$530 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$254,211
VIII-1h Total contributions, gifts and grants$254,211
VIII-12 Total revenueRelated to mission −$530 · Unrelated business $0 · Excluded from tax $0$253,681
Part IX · Statement of functional expenses $276,961 across 11 lines filed
IX-6 Pay of disqualified personsPrograms $89,660 · Management $63,355$153,015
IX-9 Other employee benefitsPrograms $2,583 · Management $2,583$5,166
IX-10 Payroll taxesPrograms $8,086 · Management $6,064$14,150
IX-11c Accounting feesManagement $1,620$1,620
IX-11g Other fees for servicesPrograms $45,174 · Management $11,662$56,836
IX-12 Advertising and promotionPrograms $2,718 · Management $3,050$5,768
IX-13 Office expensesPrograms $1,874 · Management $2,032$3,906
IX-16 OccupancyManagement $420$420
IX-19 Conferences, conventions and meetingsManagement $53$53
IX-23 InsurancePrograms $9,730$9,730
IX-24 Other expenses (24a–d)Programs $22,972 · Management $3,325$26,297
IX-25 Total functional expensesPrograms $182,797 · Management $94,164 · Fundraising $0$276,961
Part X · Balance sheet $162,379 assets, 10 lines filed
Asset lines not itemized here account for $218; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $197,734$145,945
X-3 Pledges and grants receivable$10,000
X-8 Inventories for sale or use$6,216
X-16 Total assetsStart of year $197,734$162,379
X-17 Accounts payable and accrued expensesStart of year $12,974$812
X-25 Other liabilitiesStart of year $0$87
X-26 Total liabilitiesStart of year $12,974$899
X-27 Net assets without donor restrictionsStart of year $184,760$161,480
X-32 Total net assets or fund balancesStart of year $184,760$161,480
X-33 Total liabilities and net assetsStart of year $197,734$162,379
Part XI · Reconciliation of net assets $161,480 net assets at year end
XI-1 Total revenue$253,681
XI-2 Total expenses$276,961
XI-3 Revenue less expenses−$23,280
XI-4 Net assets at start of year$184,760
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$161,480

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.