Puget Soundworks

Analysis

Puget Soundworks is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 2018, 8 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2024, Puget Soundworks reported income of $141k and spending of $131k, spending 93% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $118k to $141k (+19%), an average of +19% a year. The sharpest change came in the year to June 2024, when income rose by 19%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Puget Soundworks sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 42nd percentile within WA. Charities of a similar size with the same main cause include Historical Society of Oak Creek & Phippsburg ($141k), Arts Visalia ($141k) and Cognition of Davie County ($141k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 31% of the total. At year end it held assets of $75k against liabilities of $6,233, net assets of $68k.