Greater Gig Harbor Foundation

Analysis

Greater Gig Harbor Foundation is a registered charity in United States, based in Gig Harbor, WA. It received its IRS tax-exemption ruling in August 2006, 20 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Greater Gig Harbor Foundation reported income of $1.9m and spending of $2.1m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $940k to $1.9m (+98%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 94% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Greater Gig Harbor Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within WA. Charities of a similar size with the same main cause include Kentucky Horse Park Foundation Inc ($1.9m), Impact United Soccer Club ($1.9m) and St Petersburg Baseball Commission Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $701k (33% of expenses). At year end it held assets of $1.8m against liabilities of $1.2m, net assets of $512k. It reported 39 employees.