Islamic Center of Puget Sound

Analysis

Islamic Center of Puget Sound is a registered charity in United States, based in Lynnwood, WA. It received its IRS tax-exemption ruling in October 2013, 13 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Islamic Center of Puget Sound reported income of $760k and spending of $350k, leaving 54% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $512k to $760k (+48%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 105%. Over the whole period it spent 79% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Islamic Center of Puget Sound sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within WA. Charities of a similar size with the same main cause include Truth in Love Ministries ($760k), Kings Harvest Inc ($761k) and Alternatives ($759k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m.