Foss Waterway Seaport

Analysis

Foss Waterway Seaport is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Foss Waterway Seaport reported income of $1.7m and spending of $1.4m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.7m (+23%), an average of +5.2% a year. The sharpest change came in the year to December 2021, when income rose by 126%. Over the whole period it spent 156% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foss Waterway Seaport sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within WA. Charities of a similar size with the same main cause include Community Works of Louisiana ($1.7m), Council of Korean Americans Inc ($1.7m) and Urban Gateways ($1.7m).

On its Form 990 for the period ending December 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 $125k (8.7% of expenses). Other salaries and wages came to $647k. At year end it held assets of $3.6m against liabilities of $383k, net assets of $3.2m. It reported 41 employees.