Georgetown Community Development Authority

Analysis

Georgetown Community Development Authority is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in October 2021, 5 years ago. 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 December 2023, Georgetown Community Development Authority reported income of $2.7m and spending of $4.1m, spending 149% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $299k to $2.7m (+818%), an average of +203% a year. The sharpest change came in the year to December 2022, when income rose by 311%. Over the whole period it spent 181% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Georgetown Community Development Authority sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within WA. Charities of a similar size with the same main cause include Survivor Empowerment Center Inc ($2.7m), LCW Support Corporation ($2.7m) and Center for Healing and Hope ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $182k (4.4% of expenses). Other salaries and wages came to $202k. It paid $29k in professional fundraising fees. At year end it held assets of $39.2m against liabilities of $48.5m, net assets of -$9.3m. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.