Peninsula Services

Analysis

Peninsula Services is a registered charity in United States, based in Bremerton, WA. It received its IRS tax-exemption ruling in January 1972, 54 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 December 2023, Peninsula Services reported income of $6.2m and spending of $6.9m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.8m to $6.2m (+6.3%), an average of +1.5% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Peninsula Services sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within WA. Charities of a similar size with the same main cause include Accessity ($6.2m), University Area Community Development Corporation Inc ($6.2m) and Seattle Jobs Initiative ($6.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $216k (3.1% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $4.4m against liabilities of $1.1m, net assets of $3.3m. It reported 157 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.