Washington Institute for Financial Security

Analysis

Washington Institute for Financial Security is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in October 2013, 13 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Washington Institute for Financial Security reported income of $434k and spending of $601k, spending 138% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.0m to $434k (-58%), an average of -19% a year. The sharpest change came in the year to June 2022, when income dropped by 48%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Washington Institute for Financial Security sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within KY. Charities of a similar size with the same main cause include Ray of Light Farm Inc ($434k), Potters House Ministries Inc ($434k) and Trust Inc ($434k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $113k (19% of expenses). Other salaries and wages came to $148k. At year end it held assets of $860k against liabilities of $20k, net assets of $840k. It reported 6 employees.

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.