Wetrain Washington

Analysis

Wetrain Washington is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wetrain Washington reported income of $293k and spending of $949k, spending 324% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $1.9m to $293k (-85%), an average of -85% a year. The sharpest change came in the year to December 2023, when income dropped by 85%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wetrain Washington 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 61st percentile, and in the 59th percentile within WA. Charities of a similar size with the same main cause include Friends of Ski Run ($293k), Cwima Opportunity Fund Inc ($293k) and West Monroe Downtown Revitalization Group ($293k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $147k (16% of expenses). Other salaries and wages came to $329k. At year end it held assets of $825k against liabilities of $16k, net assets of $808k. It reported 5 employees.