Friends of the Olga Store Building

Analysis

Friends of the Olga Store Building is a registered charity in United States, based in Olga, WA. It received its IRS tax-exemption ruling in November 2019, 7 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 (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, Friends of the Olga Store Building reported income of $293k and spending of $31k, leaving 89% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $263k to $293k (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2022, when income rose by 605%. Over the whole period it spent 11% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Olga Store Building sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within WA. Charities of a similar size with the same main cause include Edison Memorial Tower Corporation ($293k), The Contemporary Youth Orchestra ($293k) and Punta Gorda Symphony Inc ($293k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 50% of the total. At year end it held assets of $1.8m against liabilities of $650k, net assets of $1.2m.