NW Furniture Bank

Analysis

NW Furniture Bank is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in June 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, NW Furniture Bank reported income of $4.5m and spending of $4.2m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.5m to $4.5m (+0.2%), an average of +0.0% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, NW Furniture Bank sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within WA. Charities of a similar size with the same main cause include 4 Paws for Ability Inc ($4.5m), Community Enterprises of St Clair County ($4.5m) and Little Brothers-Friends of the Elderly ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $120k (2.9% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $4.3m against liabilities of $71k, net assets of $4.3m. It reported 35 employees.