Skillsource Inc

Analysis

Skillsource Inc is a registered charity in United States, based in Wenatchee, WA. It received its IRS tax-exemption ruling in August 1985, 41 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 June 2024, Skillsource Inc reported income of $6.6m and spending of $6.1m, spending 93% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $5.3m to $6.6m (+24%), an average of +4.4% a year. The sharpest change came in the year to June 2023, when income rose by 18%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Skillsource Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within WA. Charities of a similar size with the same main cause include North Canton Community Improvement Corporation ($6.6m), York County Shelter Programs Inc ($6.6m) and Structured Employment Economic Development Corporation ($6.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $279k (4.6% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $5.8m against liabilities of $2.6m, net assets of $3.2m. It reported 186 employees.