The Skagit Valley Family YMCA

Analysis

The Skagit Valley Family YMCA is a registered charity in United States, based in Mount Vernon, WA. It received its IRS tax-exemption ruling in July 1974, 52 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, The Skagit Valley Family YMCA reported income of $8.5m and spending of $10.0m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.2m to $8.5m (-7.2%), an average of -1.9% a year. The sharpest change came in the year to December 2020, when income dropped by 37%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Skagit Valley Family YMCA sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within WA. Charities of a similar size with the same main cause include Bangor Young Mens Christian Association ($8.5m), Hamdard Health Alliance ($8.5m) and Bucks County Transport Inc ($8.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $318k (3.2% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $29.7m against liabilities of $13.3m, net assets of $16.4m. It reported 300 employees.