Kitsap Applied Technologies

Analysis

Kitsap Applied Technologies is a registered charity in United States, based in Bremerton, WA. It received its IRS tax-exemption ruling in March 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 2023, Kitsap Applied Technologies reported income of $772k and spending of $587k, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $441k to $772k (+75%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 80%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kitsap Applied Technologies sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within WA. Charities of a similar size with the same main cause include Ocean Park Association ($771k), Chelsea Economic Dvelopment Corporation ($772k) and New Brunswick City Market Inc ($771k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $66k (11% of expenses). Other salaries and wages came to $258k. At year end it held assets of $510k against liabilities of $191k, net assets of $318k. It reported 22 employees.