South King Tool Library

Analysis

South King Tool Library is a registered charity in United States, based in Federal Way, WA. It received its IRS tax-exemption ruling in June 2019, 7 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, South King Tool Library reported income of $353k and spending of $270k, leaving 23% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $106k to $353k (+234%), an average of +83% a year. The sharpest change came in the year to December 2023, when income rose by 134%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South King Tool Library 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 65th percentile, and in the 63rd percentile within WA. Charities of a similar size with the same main cause include Jazz District Renaissance Corporation ($353k), Sheppard Military Affairs Committee Inc ($353k) and North Hill Community Development Corporation ($353k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Other salaries and wages came to $175k. At year end it held assets of $93k against liabilities of $16k, net assets of $77k. It reported 5 employees.