FRIDAY FOUNDATION: Form 990PF, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- FRIDAY FOUNDATION (EIN 47-1889104)
- Tax period
- 2019-07-01 to 2020-06-30
- Filed
- 2021-05-12
- IRS object ID
- 202101329349102005
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- Dissolution Stmt
- Liquidation Explanation Stmt
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Liabilities Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-05-12T11:18:14-05:00 | ReturnTs |
| Tax Period End | 2020-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 911693046 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STETSON KOENES PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8561 154TH AVENUE NE SUITE 270 | AddressLine1Txt |
| City | REDMOND | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98052 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2019-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 471889104 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRIDAY FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FRID | BusinessNameControlTxt |
| Phone | 4254553338 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 518 | AddressLine1Txt |
| City | MEDINA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98039 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CAROLYN GRINSTEIN | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 4254553337 | PhoneNum |
| Signature | 2021-05-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ANNA L TAKASUGI | PreparerPersonNm |
| PTIN | P01263190 | PTIN |
| Phone | 4256351196 | PhoneNum |
| Preparation | 2021-05-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $81,849,923 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Net Gain Sale Ast Rev And Expnss | $20,603,928 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $812,933 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $20,603,928 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $20,603,928 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $20,603,928 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $0 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $0 | CompOfcrDirTrstDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $81,144 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Dsbrs Chrtbl | $81,144 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $10,195 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Chrtbl Prps | $10,195 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $1,000 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $0 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $1,000 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $244,729 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $0 | TaxesNetInvstIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $848 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Net Invst Incm | $0 | TravConfMeetingNetInvstIncmAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $848 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $181,671 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $181,117 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $519,587 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $274,304 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $273,940,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $273,940,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $274,459,587 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $274,214,304 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$253,855,659 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $20,603,928 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $9,573,978 | CashBOYAmt |
| Cash EOY | $37,443,606 | CashEOYAmt |
| Cash EOYFMV | $37,443,606 | CashEOYFMVAmt |
| Other Nts And Loans Rcvbl BOY | $43,031,204 | OtherNtsAndLoansRcvblBOYAmt |
| Other Nts And Loans Rcvbl EOY | $0 | OtherNtsAndLoansRcvblEOYAmt |
| Other Nts And Loans Rcvbl EOYFMV | $0 | OtherNtsAndLoansRcvblEOYFMVAmt |
| Prepaid Expenses EOY | $114,817 | PrepaidExpensesEOYAmt |
| Prepaid Expenses EOYFMV | $114,817 | PrepaidExpensesEOYFMVAmt |
| Other Assets BOY | $303,591,500 | OtherAssetsBOYAmt |
| Other Assets EOY | $44,291,500 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $44,291,500 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $356,196,682 | TotalAssetsBOYAmt |
| Total Assets EOY | $81,849,923 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $81,849,923 | TotalAssetsEOYFMVAmt |
| Deferred Revenue BOY | $20,491,100 | DeferredRevenueBOYAmt |
| Other Liabilities BOY | $500 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $500 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $20,491,600 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $500 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $0 | CapitalStockBOYAmt |
| Capital Stock EOY | $0 | CapitalStockEOYAmt |
| Additional Paid In Capital BOY | $0 | AdditionalPaidInCapitalBOYAmt |
| Additional Paid In Capital EOY | $0 | AdditionalPaidInCapitalEOYAmt |
| Retained Earning BOY | $335,705,082 | RetainedEarningBOYAmt |
| Retained Earning EOY | $81,849,423 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $335,705,082 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $81,849,423 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $356,196,682 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $81,849,923 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $335,705,082 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$253,855,659 | ExcessRevenueOverExpensesAmt |
| Other Increases | $0 | OtherIncreasesAmt |
| Subtotal | $81,849,423 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $81,849,423 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt | AcquiredAcquiredDt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt |
|---|---|---|---|---|---|---|---|
| SALE OF FINE ART - SOTHEBY'S DEFERRED GAIN RECEIVED | D | $20,490,995 | $20,490,995 | ||||
| SALE OF FINE ART - SOTHEBY'S | D | $112,933 | $112,933 | 2018-05-01 | 2019-08-21 | $812,933 | $700,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $20,603,928 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | 0 | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $275,807 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $675,632 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.408221 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $368,714 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $32,443 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 11.364979 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $0 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $2 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.000000 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $2,095 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $0 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.000000 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $0 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $66 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.000000 | DistributionYr5Rt |
| Total Distribution | 11.773200 | TotalDistributionRt |
| Average Distribution | 2.354640 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $35,236,432 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $82,969,112 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $206,039 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $83,175,151 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $274,214,304 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | Yes (X) | DomesticOrgMeetingSect4940eInd |
| Investment Income Excise Tax | $206,039 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $206,039 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $206,039 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $320,856 | EstimatedPlusOvpmtIncmTxAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $320,856 | TotalPaymentsAndCreditsAmt |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $114,817 | OverpaymentAmt |
| Applied To ES Tax | $114,817 | AppliedToESTaxAmt |
| Refund | $0 | RefundAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | 0 | LegislativePoliticalActyInd |
| More Than100 Spent | 0 | MoreThan100SpentInd |
| Form1120 POL Filed | 0 | Form1120POLFiledInd |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
| Activities Not Previously Rpt | 0 | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | 0 | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | Yes (1) | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | 0 | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | WA | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | 0 | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | 0 | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (1) | ComplyWithPublicInspRqrInd |
| Website Address | HTTPS://FRIDAYFOUNDATIONARTS.ORG | WebsiteAddressTxt |
| Individual With Books | CAROLYN GRINSTEIN | IndividualWithBooksNm |
| Phone | 4254426896 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 518 | AddressLine1Txt |
| City | MEDINA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98039 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | 0 | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | 0 | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | 0 | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | 0 | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | 0 | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Uncorrected Prior Acts | 0 | UncorrectedPriorActsInd |
| Undistributed Income PY | 0 | UndistributedIncomePYInd |
| Business Holdings | 0 | BusinessHoldingsInd |
| Jeopardy Investments | 0 | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | 0 | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | 0 | InfluenceLegislationInd |
| Influence Election | 0 | InfluenceElectionInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| CAROLYN GRINSTEIN | ||||||||
| PO BOX 518 | MEDINA | WA | 98039 | PRESIDENT, TREASURER | 5.00 | $0 | $0 | $0 |
| DONALD HUSSONG | ||||||||
| 1929 BONAIR DRIVE SW | SEATTLE | WA | 98116 | VICE PRESIDENT, SECRETARY | 1.00 | $0 | $0 | $0 |
| GEORGE STEERS | ||||||||
| 2817 CASCADIA AVE S | SEATTLE | WA | 98144 | DIRECTOR | 1.00 | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PERKINS COIE LLP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1201 THIRD AVENUE SUITE 4900 | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 981013099 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Service Type | LEGAL SERVICES | ServiceTypeTxt |
| Compensation | $53,519 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | THE FRIDAY FOUNDATION BOARD OF DIRECTORS MET REGULARLY DURING THE FISCAL YEAR TO DISCUSS THE PARAMETERS FOR DONATING PORTIONS OF THE FINE ART COLLECTION TO QUALIFYING MUSEUMS AND EDUCATIONAL INSTITUTIONS IN ORDER TO ENSURE THE INTEGRITY OF THE COLLECTION. THE BOARD OF DIRECTORS ALSO MET WITH QUALIFYING MUSEUMS AND EDUCATIONAL INSTITUTIONS TO DETERMINE WHETHER THOSE ORGANIZATIONS WERE INTERESTED IN RECEIVING A PORTION OF THE COLLECTION AND EVALUATING THE SUITABILITY OF THOSE ORGANIZATIONS.A SIGNIFICANT PORTION OF THE COLLECTION WAS DONATED TO ONE MUSEUM DURING FISCAL YEAR JUNE 30, 2020. | Description1Txt |
| Expenses1 | $181,117 | Expenses1Amt |
| Description2 | THE BOARD OF DIRECTORS MET DURING THE FISCAL YEAR TO DISCUSS QUALIFYING ORGANIZATIONS FOR EMERGENCY RELIEF DONATIONS. | Description2Txt |
| Expenses2 | $0 | Expenses2Amt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $35,773,027 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $35,773,027 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $35,773,027 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $536,595 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $35,236,432 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $1,761,822 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $1,761,822 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $206,039 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $206,039 | TotalTaxAmt |
| Distributable Before Adj | $1,555,783 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $0 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $1,555,783 | DistributableBeforeDedAmt |
| Deduction From Distributable | $0 | DeductionFromDistributableAmt |
| Distributable As Adjusted | $1,555,783 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $274,214,304 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $274,214,304 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $206,039 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $274,008,265 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $1,555,783 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $0 | UndistributedIncomePYAmt |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Excess Distribution Cyov Yr4 | $2,090 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr2 | $367,092 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $275,807 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $644,989 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $274,214,304 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Applied To Prior Years | $0 | AppliedToPriorYearsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $1,555,783 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $272,658,521 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $0 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $0 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $273,303,510 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Prior Year Deficiency Or Tax | $0 | PriorYearDeficiencyOrTaxAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Corpus Distri170b1 E Or4942g3 | $0 | CorpusDistri170b1EOr4942g3Amt |
| Excess Distri Cyov From Yr5 | $0 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $273,303,510 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $2,090 | ExcessFromYear4Amt |
| Excess From Year2 | $367,092 | ExcessFromYear2Amt |
| Excess From Year1 | $275,807 | ExcessFromYear1Amt |
| Excess From Current Year | $272,658,521 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (9 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt | Address Line2RecipientUSAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|
| A CONTEMPORARY THEATRE INC (ACT) | |||||||
| 700 UNION ST | SEATTLE | WA | 98101 | PC | TO SUPPORT THE MISSION OF UNITING ARTISTIC AMBITION AND CIVIC ENGAGEMENT. | $100,000 | |
| ARTSFUND | |||||||
| 100 W HARRISON STREET SOUTH TOWER | SEATTLE | WA | 98119 | PC | TO SUPPORT THE ARTSFUND'S COVID-19 ARTS EMERGENCY RELIEF FUND | $270,000 | SUITE 150 |
| PACIFIC NW BALLET FOUNDATION | |||||||
| 301 MERCER STREET | SEATTLE | WA | 98109 | SO I | TO SUPPORT THE CREATION OF THE JANE LANG DAVIS NEW WORKS FUND. | $1,000,000 | |
| SEATTLE ART MUSEUM | |||||||
| 1300 FIRST AVENUE | SEATTLE | WA | 98101 | PC | TO SUPPORT THE MISSION OF CONNECTING ART TO LIFE, DEVELOP NEW EXHIBITIONS FOCUSED ON ART THAT EXCITES AND EDUCATES THE PUBLIC, BY DONATING A COLLECTION OF ABSTRACT EXPRESSIONISM AND MODERN MASTERPIECES. | $258,600,000 | |
| SEATTLE ART MUSEUM | |||||||
| 1300 FIRST AVENUE | SEATTLE | WA | 98101 | PC | TO SUPPORT THE POST-WAR AND CONTEMPORARY ART CONSERVATION PROGRAMS, PURCHASE TECHNICAL EQUIPMENT FOR ART CONSERVATION, AND TO FUND COSTS RELATED TO PRESENTING THE LANG COLLECTION AND OTHER ARTWORKS. | $10,270,000 | |
| SEATTLE ART MUSEUM | |||||||
| 1300 FIRST AVENUE | SEATTLE | WA | 98101 | PC | TO SUPPORT THE CLOSURE RELIEF FUND | $2,000,000 | |
| SEATTLE CHAMBER MUSIC SOCIETY FOUNDATION | |||||||
| 601 UNION ST 220 | SEATTLE | WA | 98101 | SO II | TO SUPPORT EFFORTS TO FACILITATE THE CREATION, PERFORMANCE AND ENJOYMENT OF CHAMBER MUSIC THROUGHOUT NORTH AMERICA. | $100,000 | |
| SEATTLE REPERTORY THEATRE | |||||||
| 155 MERCER STREET PO BOX 900923 | SEATTLE | WA | 98109 | PC | TO SUPPORT THE CREATION OF PRODUCTIONS AND PROGRAMS THAT REFLECT AND ELEVATE THE DIVERSE CULTURES, PERSPECTIVES, AND LIFE EXPERIENES OF THE REGION. | $100,000 | |
| SEATTLE SYMPHONY FOUNDATION | |||||||
| PO BOX 21906 | SEATTLE | WA | 98111 | SO I | TO SUPPORT THE CREATION OF THE RICHARD E. LANG AND JANE LANG DAVIS LIVING MUSIC PROGRAM, UNITING AUDIENCES AND FOSTERING CULTURAL EXCHANGE THROUGH AN ANNUAL CONCERT THAT FEATURES AMBITIOUS AND INNOVATIVE PROGRAMMING. | $1,500,000 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $273,940,000 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $20,603,928 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $20,603,928 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $20,603,928 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | 0 | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | 0 | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | 0 | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | 0 | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | 0 | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | 0 | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | 0 | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | 0 | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | 0 | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | 0 | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ACCOUNTANT FEES | CategoryTxt |
| Amt | $10,195 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $10,195 | DisbursementsCharitablePrpsAmt |
Dissolution Stmt DissolutionStmt
Dissolution Information DissolutionInformationGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Short ExplanationShortExplanationTxt | DissolutionDissolutionAmt |
|---|---|---|---|---|---|
| SEATTLE ART MUSEUM | |||||
| 1300 FIRST AVENUE | SEATTLE | WA | 981012003 | THE DONATED ART COLLECTION CONSISTS OF THE FOLLOWING PIECES:FRANCIS BACON (1909-1992) PORTRAIT OF MAN WITH GLASSES $6,000,000 FRANCIS BACON (1909-1992) STUDY FOR A PORTRAIT $35,000,000 WILLEM DE KOONING (1904-1997) TOWN SQUARE $25,000,000 HELEN FRANKENTHALER (1928-2011) DAWN SHAPES $1,500,000 ALBERTO GIACOMETTI (1901-1966) FEMME DE VENISE II $12,000,000 ADOLPH GOTTLIEB (1903-1974) CRIMSON SPINNING #1 $8,000,000 PHILIP GUSTON (1913-1980) TO BWT $12,000,000 PHILIP GUSTON (1913-1980) THE PAINTER $15,000,000 FRANZ KLINE (1910-1962) PAINTING #11 $6,000,000 LEE KRASNER (1908-1984) NIGHT WATCH $6,000,000 JOAN MITCHELL (1925-1992) THE SINK $12,000,000 ROBERT MOTHERWELL (1915-1991) IRISH ELEGY $4,000,000 JACKSON POLLOCK (1912-1956) UNTITLED $4,500,000 | $147,000,000 |
| SEATTLE ART MUSEUM CONT | |||||
| 1300 FIRST AVENUE | SEATTLE | WA | 981012003 | AD REINHARDT (1913-1967) BROWN WINDOWS $1,000,000 MARK ROTHKO (1903-1970) UNTITLED $600,000 MARK ROTHKO (1903-1970) UNTITLED $50,000,000 CLYFFORD STILL (1904-1980) NUMBER 2 $60,000,000 | $111,600,000 |
Liquidation Explanation Stmt LiquidationExplanationStmt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE FOUNDATION DONATED A SUBSTANTIAL AMOUNT OF ITS ART COLLECTION TO THE SEATTLE ART MUSEUM ON 6/20/2020. THIS DONATION IS CONSISTENT WITH THE FOUNDATION'S MISSION AND OBJECTIVES. THE FOUNDATION IS NOT DISSOLVING, THIS FALLS WITHIN THE SUBSTANTIAL CONTRACTION RULE. | ExplanationTxt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ATTORNEY FEES | CategoryTxt |
| Legal Fees | $81,144 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $81,144 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FINE ART COLLECTION | Desc |
| BOY Book Value | $303,591,500 | BOYBookValueAmt |
| EOY Book Value | $44,291,500 | EOYBookValueAmt |
| EOYFMV | $44,291,500 | EOYFMVAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| BANK CHARGES | $90 | $0 | $90 |
| ART INSURANCE | $160,000 | $0 | $160,000 |
| STORAGE FEES | $21,027 | $0 | $21,027 |
| MISCELLANEOUS | $554 | $0 | $0 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ADVANCES | Desc |
| BOY Book Value | $500 | BOYBookValueAmt |
| EOY Book Value | $500 | EOYBookValueAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ART CONSULTANT | CategoryTxt |
| Amt | $1,000 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $1,000 | DisbursementsCharitablePrpsAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | FEDERAL EXCISE TAX | CategoryTxt |
| Amt | $244,729 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |