University of Puget Sound

Analysis

University of Puget Sound is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in January 1950, 76 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, University of Puget Sound reported income of $157.2m and spending of $165.1m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $169.1m to $157.2m (-7.0%), an average of -1.8% a year. The sharpest change came in the year to June 2021, when income dropped by 20%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Puget Sound sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within WA. Charities of a similar size with the same main cause include St John Fisher University ($157.1m), Berea College ($157.5m) and Team Academy Charter School Inc ($156.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $3.7m (2.2% of expenses). Other salaries and wages came to $51.3m. At year end it held assets of $731.7m against liabilities of $95.2m, net assets of $636.5m. It reported 2,200 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.