Argonaut House 2

Analysis

Argonaut House 2 is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in April 2013, 13 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Argonaut House 2 reported income of $97k and spending of $138k, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $68k to $97k (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 159% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Argonaut House 2 sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 31st percentile within WA. Charities of a similar size with the same main cause include Echols Place Corporation ($97k), Cathedral Terrace Inc ($97k) and Genesis II Apartments Inc ($97k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 29% of the total. At year end it held assets of $1.3m against liabilities of $1.7m, net assets of -$318k.

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.