Seattle Athenaeum

Nonprofit profile at a glance

EIN
472486862
IRS 990 coverage
2016–2025
Forms available
Form 990 2025, Form 990-EZ 2015, Form 990-N 2014
Location
Seattle, WA, USA
Phone
2064024162
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Libraries

Official website

Reported finances

Revenue
$360,598
Expenses
$366,833
Assets
$242,339
Liabilities
$4,125

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • CAROLINE CUMMING (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CAROLINE CUMMING (EXECUTIVE DIRECTOR): $95,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Seattle Athenaeum connects a dynamic literary community through a curated book collection, diverse programming, and opportunities for engaging conversations and transformative ideas.

What it reported doing in 2025

Folio: The Seattle Athenaeum connects a dynamic literary community through acurated book collection, diverse programming, and opportunities for engaging conversations and transformative ideas.The library serves over 750 members; individuals, families, and students.While the majority of our members are in Seattle, we have members throughout Washington state and across America. Our community is made up of readers, writers, poets, philosophers, booksellers, translators, literary organizations, publishers, retired academics, civic leaders, and all who make up the Seattle literary ecosystem. Members volunteer in the library and on our board. Audiences access ourprograms online and in person at our downtown location.Our programs are built from community need and request. In2025 over 2,250 audience members attended 120+ online and in-person at our Pike Place Market location.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.4%; rating input score 79
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: $10.65 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.7%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 25.9%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 13.7% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 79.4% of revenue deployed · 78.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $286K in reported program spending
  • Leadership: top reported pay $95K · 15 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.