Morningside

Analysis

Morningside is a registered charity in United States, based in Olympia, WA. It received its IRS tax-exemption ruling in August 1964, 62 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Morningside reported income of $9.1m and spending of $8.1m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.4m to $9.1m (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Morningside sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within WA. Charities of a similar size with the same main cause include Kaskaskia Workshop Inc ($9.1m), Minnesota Diversified Industries Inc ($9.1m) and Tri-County Community Council Inc ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.0% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $449k (5.5% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $11.0m against liabilities of $4.1m, net assets of $7.0m. It reported 155 employees.