# Seattle Pacific Foundation

Seattle Pacific Foundation is an Endowment / Foundation based in Seattle, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Seattle, United States
- **Region:** North America
- **Address:** 3307 3rd Ave W, Seattle, WA 98119, United States
- **Founded:** 1979
- **Assets under management:** Undisclosed
- **Website:** spu.edu
- **LinkedIn:** https://www.linkedin.com/company/seattle-pacific-foundation

## Regulatory record

- **Reports private funds:** No

## About

Seattle Pacific Foundation was established in March 1979 for the exclusive purpose of managing the endowment of Seattle Pacific University, a private Christian liberal arts institution on Queen Anne Hill. Board Vice Chair Alissa Mahar serves concurrently as the university's CFO and VP of Business & Finance, embedding the Foundation's investment decisions directly within the institution's operational leadership. The Foundation's stated objective — to 'Endow the Future of Seattle Pacific University' — channels investment returns into financial aid that lowers the cost of attendance. The Foundation's strategy diverges from a conventional diversified portfolio. It holds direct ownership over a cluster of commercial properties adjacent to campus, including the 4 and 6 Nickerson buildings, a South Lake Union office building, and the 101 Nickerson senior art studio. This real estate footprint generates rental income and long-dated appreciation. Alongside its property holdings, the Foundation operates a real estate loan program, making private credit a second lever in its deployment mix. This dual focus on commercial real estate and secured lending creates an operational hedge tied to the local Seattle market rather than broad public equities. Zevenbergen Capital Investments President and CIO Nancy Zevenbergen chairs the Investment Committee, bringing an institutional public-markets lens to a largely illiquid portfolio. Former SPU Board Chair Dennis Weibling also sits on the committee, maintaining continuity between university governance and endowment oversight. The Foundation participates in the NACUBO-TIAA Study of Endowments, benchmarking itself against national peers while running an investment strategy anatomically distinct from the typical campus allocation model. What separates the Foundation structurally is its direct-property operating model. Most university endowments hold real estate through fund commitments; Seattle Pacific Foundation acts as a direct landlord on Queen Anne and in South Lake Union. This architecture embeds the Foundation more as a property company serving a single beneficiary than as a passive allocator, making its performance a function of Seattle commercial real estate cycles and the university's enrollment-driven need for financial aid distributions.

## Sectors

- Real Estate
- Private Credit

## People

- Nancy Zevenbergen — Investment Committee Chair
- Dennis Weibling — Board Member
- Alissa Mahar — Board Vice Chair

## Questions

### Who runs investment decisions at Seattle Pacific Foundation?

The Investment Committee, chaired by Nancy Zevenbergen — President and CIO of Zevenbergen Capital Investments — governs the portfolio. Former SPU Board Chair Dennis Weibling and Foundation Board Vice Chair Alissa Mahar also serve on the committee, linking investment governance directly to both university operations and outside institutional investment management expertise.

### How is Seattle Pacific Foundation related to Seattle Pacific University?

The Foundation exists exclusively to manage the university's endowment. It is a separate legal entity whose sole purpose is generating investment returns that flow back to SPU to fund scholarships and operations. The Foundation's Board Vice Chair, Alissa Mahar, is concurrently SPU's CFO and VP of Business & Finance, creating a tight operational linkage.

### What does Seattle Pacific Foundation invest in?

The Foundation's known holdings concentrate on directly owned commercial real estate adjacent to the SPU campus, including the 4 and 6 Nickerson buildings and a South Lake Union office property. It also operates a real estate loan program, making private credit the second confirmed asset class in its deployment mix.

### Where does Seattle Pacific Foundation's capital come from?

Capital originates from donations, bequests, and accumulated investment returns directed to endow Seattle Pacific University. The Foundation does not manage multi-generational family wealth — it is a institutional endowment vehicle funded by university supporters.

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Last updated: 2026-06-03T20:00:00.000Z

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