Steel Magic Northwest

Analysis

Steel Magic Northwest is a registered charity in United States, based in Edmonds, WA. It received its IRS tax-exemption ruling in April 2015, 11 years ago. 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, Steel Magic Northwest reported income of $163k and spending of $167k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $142k to $163k (+14%), an average of +14% a year. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Steel Magic Northwest sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within WA. Charities of a similar size with the same main cause include Volunteers of America Inc ($163k), PTA California Congress of Parents Teachers & Students Inc ($163k) and Society for Higher Rabbinical Studies Inc ($163k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. At year end it held assets of $73k against liabilities of $0, net assets of $73k.