Sound Studios Olympia

Analysis

Sound Studios Olympia is a registered charity in United States, based in Olympia, WA. It received its IRS tax-exemption ruling in July 2020, 6 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 July 2024, Sound Studios Olympia reported income of $190k and spending of $190k, spending 100% of its income. Across the 3 years on record, from July 2022 to July 2024, income grew from $101k to $190k (+88%), an average of +37% a year. The sharpest change came in the year to July 2023, when income rose by 41%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sound Studios Olympia sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 49th percentile within WA. Charities of a similar size with the same main cause include Yallfest Charleston ($190k), Centrestage Theatre Company ($190k) and National Society of Colonial Dames of America Resident State of Calif ($190k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 2.3% and program service revenue 98% of the total. At year end it held assets of $13k against liabilities of $0, net assets of $13k.