2018-10-02T11:21:15-05:00 2017-12-31 910605875 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2017-01-01 813414267 CARNATION FARMS CARN 4258443100 28901 NE CARNATION FARM ROAD CARNATION WA 98014 JEFF GOTTLIEB CEO 4258443100 2018-09-25 1 RAY HOLMDAHL P00120599 2063827777 2018-09-25 174.216.28.253 2018-09-25 14:18:40 PD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 FDB8B21C29438794E039449563C64DD7A322612C 2017 2018-06-14 16:35:46Z JEFF GOTTLIEB 28901 NE CARNATION FARM ROAD CARNATION WA 98014 3750469 0 X WWW.CARNATIONFARMS.ORG X 2016 WA PROMOTING ENVIRONMENTALLY SUSTAINABLE PRACTICES THAT CONNECT PEOPLE TO THE LAND. 5 1 40 150 150698 -692738 1671920 3468849 0 211011 6 45 16341 70564 1688267 3750469 0 0 0 0 634222 1933482 0 0 489670 421421 1569873 1055643 3503355 632624 247114 959259 14590535 298518 10659461 660741 3931074 PROMOTING ENVIRONMENTALLY SUSTAINABLE PRACTICES THAT CONNECT PEOPLE TO THE LAND. 0 0 644028 19112 HOSTED FOUR LARGE COMMUNITY EVENTS TO INTRODUCE CARNATION FARMS AND ITS MISSION TO THE RESIDENTS OF THE AREA. 473117 14040 HOSTED FOUR FARM-TO-TABLE DINNERS FOR AREA RESIDENTS TO INTRODUCE CARNATION FARMS AGRICULTURAL PRODUCTS AND FOOD PHILOSOPHY. 915266 27161 SALES OF CARNATION FARMS AGRICULTURAL PRODUCTS PRODUCED IN ACCORDANCE WITH OUR MISSION AND IN RESPONSE TO COMMUNITY NEED. 2032411 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 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 1 0 0 0 1 27 0 1 40 1 1 1 0 0 0 0 0 0 0 0 0 X 5 1 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X MARIAH MITCHELL 4258443277 28901 NE CARNATION FARM ROAD CARNATION WA 98014 ELBRIDGE STUART III CO-PRESIDENT 10.00 X X 0 0 0 DEBRA STUART VICE PRESIDENT 10.00 X X 0 0 0 DANIEL ODERYD CO-PRESIDENT AND TREASURER 10.00 X X 0 0 0 SARAH ODERYD SECRETARY 10.00 X X 0 0 0 ANN STUART LUCAS BOARD MEMBER 2.00 X 0 0 0 BETTY LANE YOUNGBLOOD INTERIM CEO 40.00 X 122347 0 6659 CONNOR INSLEE ACTING CEO 40.00 X 80127 0 1909 JEFF GOTTLIEB CEO 40.00 X 110483 0 6557 312957 0 15125 2 0 0 0 0 3468849 2758 3468849 WEDDING AND EVENT REVE 900099 150698 150698 AGRICULTURE PRODUCTS 900099 27161 27161 COMMUNITY EVENTS 900099 19112 19112 FARM TO TABLE DINNERS 900099 14040 14040 211011 45 45 22133 0 22133 22133 22133 PARTNERSHIP PROGRAMS 900099 30000 30000 MISCELLANEOUS REVENUE 900099 18431 18431 48431 3750469 60313 150698 70609 328083 194439 78559 55085 1259614 746511 301613 211490 35161 20838 8419 5904 138625 82156 33194 23275 171999 101935 41185 28879 27653 27653 8500 8500 174135 106294 53430 14411 100005 4794 24444 70767 50997 24586 21312 5099 55717 37051 16170 2496 662999 449768 184753 28478 110992 73808 32212 4972 113808 75681 33029 5098 PROGRAM EXPENSE 114656 100108 14255 293 OTHER EXPENSES 83625 14421 57279 11925 EMPLOYEE RECRUITMENT EX 45142 45142 ADVANCEMENT 21644 21 125 21498 3503355 2032411 981274 489670 90579 272617 149991 30012 4939 48512 23700 9019 309846 96774 879092 122797 380204 756295 0 13377306 959259 14590535 263056 229959 24962 44540 10500 10384962 298518 10659461 X 660741 355150 0 3575924 660741 3931074 959259 14590535 247114 3023219 0 X 0 1 X 0 0 X 1671920 3468849 5140769 1671920 3468849 5140769 4870890 269879 10035 45 10080 150698 150698 5301547 139778 X 185264 32789 152475 693828 90008 603820 756295 USE OF FACILITIES RECEIVABLE 13377306 13377306 SECURITY DEPOSITS 30875 LONG TERM FACILITIES MAINTENANCE PAYABLE 10354087 10384962 7495603 3745134 3745134 3750469 0 3750469 4225270 721915 721915 3503355 0 3503355 ELBRIDGE & DEBRA STUART FOUNDATION SUBSTANTIAL CONTRIBUTOR AND BOARD MEMBER 13377306 USE OF FACILITIES CONTRIBUTION RECEIVABLE 0 ELBRIDGE & DEBRA STUART FOUNDATION SUBSTANTIAL CONTRIBUTOR AND BOARD MEMBER 10354087 FACILITIES AND MANTENANCE OBLIGATIONS 0 SCHEDULE L, PART IV CARNATION FARMS LEASES ITS FARM AND OFFICE SPACE FROM A RELATED PARTY AT A RATE OF $1 PER YEAR. THE LEASE EXPIRES ON SEPTEMBER 30, 2036, AND MAY BE CANCELLED BY EITHER PARTY WITH 12 MONTHS' WRITTEN NOTICE. AS THE LEASE IS NOT EXPECTED TO BE CANCELLED BY EITHER PARTY, THE FULL VALUE OF THE CONTRIBUTED RENT AND THE FACILITIES MAINTENANCE OBLIGATION HAS BEEN RECOGNIZED. THE TERMS OF THE LEASE INCLUDE THAT CARNATION FARMS MUST PAY ALL UTILITIES AND PROPERTY TAXES AND IS LIABLE FOR MAINTENANCE OF THE REAL AND PERSONAL PROPERTY LOCATED ON THE PROPERTY IN CARNATION, WASHINGTON.THE FAIR VALUE OF THE IN-KIND RENTAL PAYMENTS, AS ESTIMATED BY MANAGEMENT, OVER THE LIFE OF THE LEASE WAS GREATER THAN THE ESTIMATED FAIR VALUE OF THE PROPERTY, BASED ON A PROPERTY VALUATION REPORT PREPARED BY AN INDEPENDENT THIRD PARTY. THEREFORE, MANAGEMENT VALUED THE USE OF FACILITIES RECEIVABLE USING THE LOWER AMOUNT AND BASED THE USE OF FACILITIES RECEIVABLE ON THE FAIR VALUE OF THE REAL PROPERTY.CARNATION FARMS AND THE LANDLORD AGREED TO A SCHEDULE OF REQUIRED REPAIRS AND MAINTENANCE THROUGH 2022. THIS SCHEDULE WAS BASED ON AN ASSESSMENT OF NEEDED REPAIRS AND MAINTENANCE PERFORMED BY AN INDEPENDENT THIRD PARTY. MANAGEMENT EXPECTS TO HAVE THE INDEPENDENT THIRD PARTY PERFORM THE ASSESSMENT EVERY FIVE YEARS OVER THE LIFE OF THE LEASE. THE MAINTENANCE LIABILITY FOR THE LIFE OF THE LEASE WAS ESTIMATED BASED ON THE SCHEDULE AGREED TO WITH THE LANDLORD.IN 2017, CARNATION FARMS RECOGNIZED AN IN KIND CONTRIBUTION OF USE OF FACILITIES OF $3,727,288 REPRESENTING THE DIFFERENCE BETWEEN THE FAIR VALUE OF LEASED PREMISES FOR WHICH A RECEIVABLE WAS RECORDED AND THE MAINTENANCE LIABILITY. THE USE OF FACILITIES CONTRIBUTION RECEIVABLE IS AMORTIZED ON A STRAIGHT LINE BASIS OVER THE 20 YEAR LEASE PERIOD TO RENT EXPENSE. RENT EXPENSE WAS $704,069 DURING THE YEAR ENDED DECEMBER 31, 2017. THE BALANCE OF THE USE OF FACILITIES CONTRIBUTION RECEIVABLE WAS $13,377,306 AT DECEMBER 31, 2017. A LIABILITY FOR THE MAINTENANCE OF THE PROPERTY HAS BEEN RECORDED IN THE AMOUNT OF $10,354,087, WHICH WILL BE DECREASED ANNUALLY IN FUTURE YEARS DEPENDING ON THE ACTUAL COSTS OF MAINTENANCE. FORM 990, PART VI, SECTION A, LINE 2 PRESIDENT AND VICE PRESIDENT ARE MARRIED, SECRETARY AND TREASURER ARE MARRIED, SECRETARY IS DAUGHTER OF PRESIDENT & VICE PRESIDENT. ANOTHER BOARD MEMBER IS AN AUNT OF THE PRESIDENT. FORM 990, PART VI, SECTION A, LINE 6 ELBRIDGE STUART III AND DEBRA STUART ARE THE MEMBERS OF THIS CORPORATION, AND EXERCISE THEIR MEMBERSHIP RIGHTS THROUGH THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A ELBRIDGE STUART III AND DEBRA STUART, BOTH INDIVIDUALS, ARE THE MEMBERS OF THIS CORPORATION. THE MEMBERS ELECT THE DIRECTORS OF THE CORPORATION, WHO SERVE FOR OVERLAPPING THREE YEAR TERMS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST SURVEY. THE BOARD DISCUSSES ALL DISCLOSED CONFLICTS AND ALL DIRECTORS WITH CONFLICTS RECUSE THEMSELVES FROM VOTING ON MATTERS IN WHICH THEY HAVE CONFLICTS, PER THE CORPORATION'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A INTERIM CEO PAY WAS DETERMINED BY INFORMALLY BENCHMARKING AGAINST CEOS OF LOCAL NON-PROFITS WITH SIMILAR SIZE AND SCALE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE PUBLICLY AVAILABLE. OUR FORM 990 FILING SUMMARIZES THE KEY TENETS OF THESE DOCUMENTS AND IS PUBLICLY AVAILABLE. ELBRIDGE AND DEBRA STUART FAMILY FOUNDATION PO BOX 8340 INCLINE VILLAGE NV 89450 264492027 PRIVATE FOUNDATION NV 501(C)(3) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ELBRIDGE AND DEBRA STUART FAMILY FOUNDATION C 3005000 CASH