Kitsap Residences

Analysis

Kitsap Residences is a registered charity in United States, based in Port Orchard, WA. It received its IRS tax-exemption ruling in May 1993, 33 years ago. 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 January 2024, Kitsap Residences reported income of $4.2m and spending of $4.2m, spending 100% of its income. Across the 6 years on record, from December 2019 to January 2024, income grew from $2.9m to $4.2m (+46%), an average of +7.8% a year. The sharpest change came in the year to January 2021, when income rose by 21%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kitsap Residences sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within WA. Charities of a similar size with the same main cause include Lakeshore Cap Inc of Wisconsin ($4.2m), Mittleman Jewish Community Center ($4.2m) and Waldorf School of Baltimore ($4.2m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $3.4m. At year end it held assets of $1.9m against liabilities of $729k, net assets of $1.2m. It reported 61 employees.