Herons Key

Analysis

Herons Key is a registered charity in United States, based in Redmond, WA. It received its IRS tax-exemption ruling in August 2014, 12 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, Herons Key reported income of $25.8m and spending of $23.9m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $17.3m to $25.8m (+50%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 86%. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Herons Key sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within WA. Charities of a similar size with the same main cause include Dreamkey Partners Inc ($25.7m), Elderhomes Corp ($25.9m) and Homestead at Rochester Inc ($25.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.7% and program service revenue 94% of the total. Other salaries and wages came to $6.9m. At year end it held assets of $134.2m against liabilities of $174.5m, net assets of -$40.3m. It reported 242 employees.