Pike Place Market Foundation

Nonprofit profile at a glance

EIN
911197625
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2068039803
Rating
76
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$3,467,746
Expenses
$3,608,581
Assets
$10,657,923
Liabilities
$1,661,571

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

40 people listed

Executive titles in this filing

  • JESSICA CARSO BHUIYAN (EXECUTIVE DIRECTOR, SEARCH COMM)
  • JONATHAN BAHE (PRESIDENT ELECT)
  • KIRSTEN ANDERSON (PRESIDENT)
  • LILLIAN SHERMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LILLIAN SHERMAN (EXECUTIVE DIRECTOR): $174,050 total reported compensation
  • PATRICIA GRAY (DIRECTOR OF PHILANTHROPY): $131,654 total reported compensation
  • CRYSTAL DIXON (DIRECTOR OF STRATEGIC IMPACT): $127,013 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To raise funds to support programs that serve low-income people, heritage programs, and public improvements in seattle's pike place market.

What it reported doing in 2024

Consists of disbursements to the following market-related not-for-profit entities: pike market medical clinic - provides low cost or free medical services for elderly and low income residents of the market area and downtown seattle. $413k pike market senior center - provides meals, social work, employment, and housing services for low income seniors of the market area and downtown seattle. $360k pike market child care & preschool - provides daycare for low income working families in the area. $376,632 pike market food bank - provides food to downtown residents who wouldn't otherwise be able to get food. $245k food access project & market fresh coupons - a food-coupon system for low-income residents to receive farm fresh produce $172,929 heritage house at the market - an assisted living program to serve low income and senior downtown residents. $85k.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.6%; rating input score 73
  • Program expense ratio: 67.6%; rating input score 68
  • Fundraising efficiency: $4.62 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.9%; rating input score 99; 36th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.1%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 2.95; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 12%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 72.6% of revenue deployed · 67.6% of spending went to programs
  • Governance: 37 of 37 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $174K · 40 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.