Kitsap Regional Library Foundation

Analysis

Kitsap Regional Library Foundation is a registered charity in United States, based in Bremerton, WA. It received its IRS tax-exemption ruling in April 1994, 32 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Kitsap Regional Library Foundation reported income of $469k and spending of $818k, spending 174% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $542k to $469k (-13%), an average of -3.5% a year. The sharpest change came in the year to December 2020, when income rose by 459%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kitsap Regional Library Foundation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within WA. Charities of a similar size with the same main cause include Friends of the Fiscalini Ranch Preserve ($469k), Corry Higher Education Council ($469k) and Nollie Jenkins Family Center Inc ($469k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $236k (29% of expenses). Other salaries and wages came to $86k. At year end it held assets of $3.1m against liabilities of $980k, net assets of $2.1m.