Skagit Community Foundation

Analysis

Skagit Community Foundation is a registered charity in United States, based in Mount Vernon, WA. It received its IRS tax-exemption ruling in March 1995, 31 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Skagit Community Foundation reported income of $5.6m and spending of $2.4m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $668k to $5.6m (+740%), an average of +70% a year. The sharpest change came in the year to December 2023, when income rose by 526%. Over the whole period it spent 61% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Skagit Community Foundation sits at the 93rd percentile: it is larger than about 93% 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 United Way of Virginias Blue Ridge ($5.6m), Pbsa Community Engagement Inc ($5.6m) and Northern Piedmont Community Foundation ($5.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $110k (4.5% of expenses). Other salaries and wages came to $63k. At year end it held assets of $12.9m against liabilities of $489k, net assets of $12.4m. It reported 3 employees.