Ship Creek Community Assets I

Analysis

Ship Creek Community Assets I is a registered charity in United States, based in Anchorage, AK. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Ship Creek Community Assets I reported income of $302k and spending of $681k, spending 226% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.2m to $302k (-75%), an average of -50% a year. The sharpest change came in the year to December 2022, when income rose by 134%. Over the whole period it spent 74% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ship Creek Community Assets I sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 57th percentile within AK. Charities of a similar size with the same main cause include Angel Care Homes Inc ($302k), Empowering the Turkish-American Community USA ($302k) and Community Credit Lab ($302k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. At year end it held assets of $1.2m against liabilities of $37k, net assets of $1.1m.