Cares of Washington

Analysis

Cares of Washington is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in April 2003, 23 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cares of Washington reported income of $2.3m and spending of $2.2m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $2.3m (+31%), an average of +6.9% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cares of Washington sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within WA. Charities of a similar size with the same main cause include Live Work Maine Inc ($2.3m), Jefferson East Inc ($2.3m) and Fresno Metro Black Chamber of Commerce ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $126k (5.7% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $2.0m against liabilities of $401k, net assets of $1.5m. It reported 49 employees.