Seattle Pacific Foundation FY2021 filing

Tax-deductible

Seattle, WA501(c)(3)Since 1979EducationEIN 91-1068276Revenue $737K in FY2021

On file with the IRSadvance.spu.edu/spfoundation3307 3rd Ave W, 98119-1940 · Seattle, WATax-exempt since Sep 1979Supporting organization — 509(a)(3)

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To support Seattle Pacific university. The Foundation may make gifts and grants to other religious, educational and charitable organizations as determined by the board of directors.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
$114K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
2 of 4
filings with a surplus
Average deficit $63K a year · 8% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
65%
of spending
Fine: 65% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$114K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
241 mo
of spending, in cash
Looks good: 241.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $89K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$199.8M
97% of total assets
Concern: liabilities are 97% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$737K
Spent
$818K
To programs
65%
Net assets
$6.8M
By yearFY2021–FY2024
Revenue
$737K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$737K
FY2022$702K
FY2023$919K
FY2024$980K
FY2024$759K
Expenses
$818K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$818K
FY2022$579K
FY2023$872K
FY2024$1.3M
FY2024$946K
Net assets
$6.8M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$6.8M
FY2022$6.7M
FY2023$7.6M
FY2024$8.2M
FY2024$7.4M

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1979.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $534K Management & general 35% · $284K

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

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Who runs it and what they're paid

12 people listed on the 990; $114K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Treasurer
$114,015Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Voting Ex-Officio
$0Pt VII · Sec A

Brian Ficken’s $201K as Treasurer is at the 98th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Brian Ficken$201,020$169,817$140,474$132,015$114,015

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Seattle Pacific Foundation executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Invests endowment assets to support educational, religious, and charitable organizations.

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Provided by the organization

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2 programs · $534K · in their own filed words · FY2020
01

Investment management of university endowment funds and administration of charitable trusts where seattle pacific university and other 501(c)(3) charities are the charitable remaindermen.

$534Kprogram expense
02

Charitable contributions reported on form 1065 schedule k-1 for northpoint, LLC.

$62program 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
Total grants receivedfrom 2 funders$89K
Grants paid · 4 grants · $855K · 2020–2024
Seattle Pacific UniversityWA · FY2024$300,000
Seattle Pacific UniversityWA · FY2023$370,278
Seattle Pacific UniversityWA · FY2021$23,671
Seattle Pacific UniversityWA · FY2020$160,928

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$737K
Ln 12
Other incomeLn 4–11$684K
Gifts and grantsLn 1h$29K
Investment incomeLn 3$24K
Money outPt IX
$818K
Ln 25
Programscol B$534K
Managementcol C$284K
Owns and owesPt X
$6.8M
net assets · Ln 32
Cash and savingsLn 1–2$16.4M
Total assetsLn 16$206.6M
LiabilitiesLn 26$199.8M
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29K
Investment incomeLn 3$24K
Other incomeLn 4–11$684K
Gains on assetsLn 7$4K
Total revenueLn 12$737K
Assets in detailPt X, end of year
SavingsLn 2$16.4M
Cash and savings togetherLn 1–2$16.4M
InvestmentsLn 11–13$179.9M
Land, buildings, equipmentLn 10c$9.6M
Total assetsLn 16$206.6M
LiabilitiesLn 26$199.8M
Net assetsLn 32$6.8M
OperationsPt I, VI
EmployeesI 57
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$11.4M$16.4M
InvestmentsLn 11–13$82.3M$179.9M
Land, buildings, equipmentLn 10c$48.4M$9.6M
Total assetsLn 16$154.8M$206.6M
LiabilitiesLn 26$149.1M$199.8M
Net assetsLn 32$5.6M$6.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$161K$161K
Pay of current officers, directors and key staffLn 5$191K$134K$57K
Other salaries and wagesLn 7$148K$104K$45K
Other employee benefitsLn 9$56K$39K$17K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$30K$30K
OccupancyLn 16$38K$38K
TravelLn 17$266$266
Other expenses (24a–d)Ln 24$179K$14K$165K
All other expensesLn 24e$7K$7K
Total functional expensesLn 25$818K$534K$284K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $980K$1.3M−$340K$8.2M 990 PDF
FY2023 $919K$872K$47K$7.6M 990 PDF
FY2022 $702K$579K$123K$6.7M 990 PDF
FY2021 Viewing $737K$818K−$81K$6.8M 990 PDF

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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 $736,605 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,000$28,918
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $26,626$23,750
I-11 Other revenuePrior year $768,440$683,937
I-12 Total revenuePrior year $797,066$736,605
I-13 Grants and similar amounts paidPrior year $450,131$160,990
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $373,693$395,332
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $104,967$261,529
I-18 Total expensesPrior year $928,791$817,851
I-19 Revenue less expensesPrior year −$131,725−$81,246
Part VI · Governance 10 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $736,605 across 7 lines filed
VIII-1f All other contributions, gifts and grants$28,918
VIII-1h Total contributions, gifts and grants$28,918
VIII-3 Investment incomeExcluded from tax $20,107$20,107
VIII-6 Net rental income or lossExcluded from tax $662$662
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,643$3,643
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $683,270 · Excluded from tax $5$683,275
VIII-12 Total revenueRelated to mission $683,270 · Unrelated business $0 · Excluded from tax $24,417$736,605
Part IX · Statement of functional expenses $817,851 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $160,990$160,990
IX-5 Pay of current officers, directors and key staffPrograms $133,892 · Management $57,382$191,274
IX-7 Other salaries and wagesPrograms $103,950 · Management $44,550$148,500
IX-9 Other employee benefitsPrograms $38,890 · Management $16,668$55,558
IX-11b Legal feesPrograms $7,285$7,285
IX-11c Accounting feesPrograms $29,650$29,650
IX-16 OccupancyPrograms $38,097$38,097
IX-17 TravelPrograms $266$266
IX-24 Other expenses (24a–d)Programs $14,073 · Management $165,194$179,267
IX-24e All other expensesPrograms $6,964$6,964
IX-25 Total functional expensesPrograms $534,057 · Management $283,794 · Fundraising $0$817,851
Part X · Balance sheet $206,572,560 assets, 13 lines filed
Asset lines not itemized here account for $470,188; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $11,442,483$16,446,599
X-4 Accounts receivableStart of year $186,174$142,832
X-10c Land, buildings and equipment, netStart of year $48,378,857$9,575,000
X-11 Publicly traded securitiesStart of year $53,568,927$79,349,398
X-12 Other securitiesStart of year $28,744,071$100,588,543
X-16 Total assetsStart of year $154,760,764$206,572,560
X-17 Accounts payable and accrued expensesStart of year $5,227$1,328
X-25 Other liabilitiesStart of year $149,137,621$199,758,405
X-26 Total liabilitiesStart of year $149,142,848$199,759,733
X-27 Net assets without donor restrictionsStart of year $1,189,314$1,003,288
X-28 Net assets with donor restrictionsStart of year $4,428,602$5,809,539
X-32 Total net assets or fund balancesStart of year $5,617,916$6,812,827
X-33 Total liabilities and net assetsStart of year $154,760,764$206,572,560
Part XI · Reconciliation of net assets $6,812,827 net assets at year end
XI-1 Total revenue$736,605
XI-2 Total expenses$817,851
XI-3 Revenue less expenses−$81,246
XI-4 Net assets at start of year$5,617,916
XI-5 Net unrealized gains (losses) on investments−$105,230
XI-9 Other changes in net assets$1,381,387
XI-10 Net assets at end of year$6,812,827

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

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