Puget Sound Regional Services

Analysis

Puget Sound Regional Services is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in April 1987, 39 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, Puget Sound Regional Services reported income of $17.3m and spending of $16.8m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.8m to $17.3m (+60%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 39%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Puget Sound Regional Services sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within WA. Charities of a similar size with the same main cause include Workmoney Foundation Inc ($17.3m), Maryvale ($17.3m) and Putnam County Comprehensive Services Inc ($17.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $579k (3.4% of expenses). Other salaries and wages came to $12.4m. At year end it held assets of $10.5m against liabilities of $2.9m, net assets of $7.6m. It reported 323 employees.