Quilt Inc

Analysis

Quilt Inc is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in January 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Quilt Inc reported income of $1.0m and spending of $941k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $897k to $1.0m (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2022, when income rose by 21%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Quilt Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within WA. Charities of a similar size with the same main cause include Salem Catholic Schools Foundation ($1.0m), San Angelo Stock Show & Rodeo Foundation ($1.0m) and Logan County Day Service Center for Limited Children Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.2% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $218k (23% of expenses). Other salaries and wages came to $153k. At year end it held assets of $1.3m against liabilities of $71k, net assets of $1.2m. It reported 3 employees.