Gig Harbor Downtown Waterfront Alliance

Analysis

Gig Harbor Downtown Waterfront Alliance is a registered charity in United States, based in Gig Harbor, WA. It received its IRS tax-exemption ruling in June 2008, 18 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, Gig Harbor Downtown Waterfront Alliance reported income of $399k and spending of $351k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $349k to $399k (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gig Harbor Downtown Waterfront Alliance sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within WA. Charities of a similar size with the same main cause include Lotus Education and Arts Foundation Inc ($399k), Marathon County Historical Society ($399k) and Enchantment Theatre Company ($399k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $168k (48% of expenses). At year end it held assets of $407k against liabilities of $4,195, net assets of $403k. It reported 5 employees.