Economic Development Alliance of Skagit County Foundation

Analysis

Economic Development Alliance of Skagit County Foundation is a registered charity in United States, based in Mount Vernon, WA. It received its IRS tax-exemption ruling in September 1996, 30 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Economic Development Alliance of Skagit County Foundation reported income of $1.3m and spending of $1.3m, spending 103% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.1m to $1.3m (+18%), an average of +5.7% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Economic Development Alliance of Skagit County Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within WA. Charities of a similar size with the same main cause include Forest Meadows Building Corporation ($1.3m), The Sheet Metal Workers Local 25 Education Fund ($1.3m) and Carriers of Light ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $326k (25% of expenses). Other salaries and wages came to $374k. At year end it held assets of $1.1m against liabilities of $446k, net assets of $614k. It reported 8 employees.