508 Foundation

Analysis

508 Foundation is a registered charity in United States, based in Lynden, WA. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, 508 Foundation reported income of $57k and spending of $2,421, leaving 96% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $52k to $57k (+9.1%), an average of +9.1% a year. Over the whole period it spent 7.0% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, 508 Foundation sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 17th percentile within WA. Charities of a similar size with the same main cause include Karl Ladue Wodakota Foundation ($57k), Manhattan Country Club Junior Fund ($57k) and Falls County Youth Fair ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $200k against liabilities of $0, net assets of $200k.