Olympic College Foundation

Analysis

Olympic College Foundation is a registered charity in United States, based in Bremerton, WA. It received its IRS tax-exemption ruling in January 1994, 32 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 organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Olympic College Foundation reported income of $1.6m and spending of $1.2m, leaving 27% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.6m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2020, when income rose by 137%. 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, Olympic College Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within WA. Charities of a similar size with the same main cause include Settlement Club Endowment Fund ($1.6m), United Way of the Lower Eastern Shore Inc ($1.6m) and The Dallas Opera Foundation ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% of the total. Other salaries and wages came to $216k. At year end it held assets of $21.1m against liabilities of $1.0m, net assets of $20.0m.