2025-10-24T14:12:40-07:00 2024-12-31 990 2024-01-01 911699344 CATHEDRAL FOUNDATION OF THE DIOCESE OF OLYMPIA CATH 2063564685 1245 10th Ave E Seattle WA 98102 LINDA Knutson Treasurer 2063564685 2025-10-23 1 2024 2025-03-06 01:10:19Z Julia Logan 1245 10th Ave E Seattle WA 98102 55037 0 X X 1995 WA The Cathedral Foundation of the Diocese of Olympia raises and manages capital and endowment funds for the benefit of St. Marks Episcopal Cathedral for the preservation and enhancement of the Cathedral's buildings and grounds, exercising fiduciary responsibility to provide oversight of these assets. 8 8 0 25 0 0 9728 15014 0 0 34956 40023 0 0 44684 55037 76285 65502 0 0 0 0 0 0 0 4696 6725 80981 72227 -36297 -17190 1800771 1915592 0 2000 1800771 1913592 The Cathedral Foundation of the Diocese of Olympia raises and manages capital and endowment funds for the benefit of St. Mark's Episcopal Cathedral for the preservation and enhancement of the Cathedral's buildings and grounds. The Foundation exercises it fiduciary responsibility to provide oversight of these assets and to assure compliance with donor intent. 0 0 59265 0 0 Windows in Blodel Hall and Deanery were replaced because they were 1950's era single pane, steel framed 1/8" glass windows, The windows were replaced with highly efficient energy saving double pane argon filled windows. 6237 0 0 Pedestrian Path - safety issue with automobile traffic patterns in parking lot. 0 0 0 65502 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 WA X Linda Knutson 2063564685 1245 10th Ave East Seattle WA 98102 X The Rev Elise Johnstone Director 1 0 X 0 0 0 The Very Rev Steve Thomason Director Ex Officio 1 0 X 0 0 0 The Right Rev Phillip N LaBelle Director Ex Officio 1 0 X 0 0 0 Julia Logan Chair 5 0 X 0 0 0 J Scott Kovacs Vice Chair 5 0 X 0 0 0 Linda Knutson Treasurer 5 X 0 0 0 Deborah Person Secretary 5 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15014 1875 15014 0 40023 0 0 40023 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55037 0 0 40023 65502 65502 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 115 0 115 0 0 0 0 0 1875 0 1875 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 379 0 379 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1535 0 1535 0 2821 0 2821 0 72227 65502 6725 0 12582 15288 104354 111960 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1683835 1788344 0 0 0 0 0 0 0 0 1800771 1915592 0 0 0 0 0 2000 0 0 0 0 0 0 0 0 0 0 0 2000 X 116936 125248 1683835 1788344 1800771 1913592 1800771 1915592 X -17190 103829 0 0 0 26182 X 1 X 0 1 0 X 10402 7526 7304 8191 8139 41562 0 0 0 0 0 0 0 0 0 0 0 0 10402 7526 7304 8191 8139 41562 12693 28869 29863 29816 32087 34956 40023 166745 0 0 0 0 0 0 0 0 0 0 0 0 208307 0 0.13859 0.163 X Part III, Line 12: The organization meets the 10% Facts and Circumstances test for 2024 for the following reasons: a) The organization has a history of consistently meeting the 33 1/3% test spanning over 29 years since its formation in 1995; b) the board continuously and actively promotes fund raising awareness and activity from the public; c) The organization receives significant investment revenues in the form of dividends and endowments; d) The ongoing impact of Covid-19 in the years 2022, 2021, 2020 has had an adverse impact on the Organizations ability to realize any significant increases and economic uncertainty prevalent has dampened the general public's ability to donate money more freely to the Organization. Schedule A, Part III, Line 12 The Organization meets the 10% Facts and Circumstances test for 2024 for the following reasons: a) The Organization has a history of consistently meeting the 33-1/3% test spanning over 29 years since its formation in 1995. b) The Board continuously and actively promotes fund raising awareness and activity from the public. c) The Organization receives significant investment revenue in the form of dividends and endowments. d) The ongoing impact of COVID-19 in the years 2022, 2021 and 2020 has had an adverse impact on the Organization's ability to realize any significant increase in public fundraising. e) The economic climate that has persisted since 2021 and worsened in 2022 and 2023, with inflation and economic uncertainty prevalent, has dampened the general public's ability to donate money more freely to the Organization. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1683835 0 170011 65502 0 0 1788344 1554118 0 194002 64285 0 0 1683835 1834601 0 -217981 62502 0 0 1554118 1640294 0 251316 57009 0 0 1834601 1472888 65310 156453 54357 0 0 1640294 0.0 0.64 0.36 0 0 Schedule D, Part V, Line 4 The Cathedral Foundation of the Diocese of Olympia manages endowment funds for the benefit of St. Marks's Episcopal Cathedral for the preservation and enhancement of the Cathedrals Buildings and grounds, exercising fiduciary responsibility to provide oversight of these assets. 1 St Marks Episcopal Cathedral 1245 10th Ave East Seattle WA 98102 910579230 509(a)(1) 65502 0 n/a n/a Building and Grounds 1 0 Schedule I, Part I, Line 2 Form 990, Schedule I, Part II: Grants (endowment distributions) are made to St. Mark's Episcopal Cathedral each year, based on the organization's Endowment Spending Policy to be used to preserve, maintain and enhance the buildings and grounds of the Cathedral. The organization can monitor and use the grants (endowment distributions) by requesting documentation demonstrating that the funds were used for the buildings and grounds of the cathedral. Form 990, Part VI, Section A, Line 7a The bylaws of the Organization allow for certain board members represent both St. Mark's Cathedral parish and the Episcopal Diocese of Olympia to be appointed by the governing bodies of these organizations. Form 990, Part VI, Section B, Line 11b The form 990 is intially prepare by the Organization's contract bookkeeper and the Treasurer. Periodically the Organizaiton asks it's CPA firm to read its form 990 and related schedules for the purpose of verifying that we have completed it correctly. The Board of Directors is also given a copy of the form 990 for their review and an electronic version is posted on the file-sharing website for the Board of Directors to access. Form 990, Part VI, Section B, Line 12c At the beginning of each year, at the Organization's annual Meeting, all members of the Board of Directors sign a Conflict of Interest Certification statement where they attest to having read the Organization's Conflict of Interest policy, that they are not aware of any such conflicts or they have disclosed any that may exist, and that they will take appropriate action in accordance with the policy if conflict of interest arise in the future. Form 990, Part VI, Section C, Line 19 The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request. Electronic copies are posted on a file-sharing website that any board member or officer can access and provide to the public. Form 990, Part XI, Line 9 Other changes in net assets for 2024 represent Realized Gains of $26,182 on the sale of publicly traded securities.