The Residency

Analysis

The Residency is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in June 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Residency reported income of $686k and spending of $649k, spending 95% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $274k to $686k (+151%), an average of +36% a year. The sharpest change came in the year to June 2022, when income rose by 130%. Over the whole period it spent 81% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Residency sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within WA. Charities of a similar size with the same main cause include Monroe County Fair Association Inc ($686k), Eastern Shore Art Assn Inc ($687k) and Woburn Public Media Center Inc ($686k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 120% and program service revenue 7.4% of the total. Other salaries and wages came to $279k. It paid $29k in professional fundraising fees. At year end it held assets of $357k against liabilities of $22k, net assets of $336k. It reported 15 employees.