Island Synagogue

Analysis

Island Synagogue is a registered charity in United States, based in Mercer Island, WA. It received its IRS tax-exemption ruling in April 1994, 32 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Island Synagogue reported income of $973k and spending of $562k, leaving 42% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $487k to $973k (+100%), an average of +19% a year. The sharpest change came in the year to August 2022, when income rose by 71%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Island Synagogue sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within WA. Charities of a similar size with the same main cause include Grace City Outreach ($972k), American Water Works Association Inc ($973k) and Montgomery House Inc ($972k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $176k (31% of expenses). Other salaries and wages came to $63k. At year end it held assets of $3.8m against liabilities of $814k, net assets of $3.0m. It reported 4 employees.