West Seattle Tool Library

Analysis

West Seattle Tool Library is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, West Seattle Tool Library reported income of $72k and spending of $69k, spending 96% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $60k to $72k (+19%), an average of +9.1% a year. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, West Seattle Tool Library sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 23rd percentile within WA. Charities of a similar size with the same main cause include Parkside Economic Development ($72k), Greater Hopkinsville Chamber Community Foundation Inc ($72k) and Womans Club of Fernandina Beach ($72k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 3.4% of the total. At year end it held assets of $38k against liabilities of $2,500, net assets of $35k.