Puget Sound Access

Analysis

Puget Sound Access is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Puget Sound Access reported income of $271k and spending of $286k, spending 106% of what it took in. Across the 4 years on record, from December 2018 to December 2023, income fell from $325k to $271k (-17%), an average of -5.9% a year. The sharpest change came in the year to December 2019, when income dropped by 29%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Puget Sound Access sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within WA. Charities of a similar size with the same main cause include Long X Arts Foundation ($271k), Loudoun Laurels ($271k) and Lake Highlands Area Band Club ($271k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 101% of the total. Compensation of current officers, directors and key employees was $57k (20% of expenses). Other salaries and wages came to $160k. At year end it held assets of $15k against liabilities of $16k, net assets of -$332. It reported 11 employees.