Bike Works Seattle

Analysis

Bike Works Seattle is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Bike Works Seattle reported income of $2.3m and spending of $2.5m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $2.3m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2020, when income rose by 34%. Over the whole period it spent 89% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Bike Works Seattle sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within WA. Charities of a similar size with the same main cause include Maryland State Golf Association ($2.3m), Angel Flight East ($2.3m) and Tredyffrin-Easttown Youth Soccer Association Inc ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $152k (6.2% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $3.0m against liabilities of $715k, net assets of $2.2m. It reported 33 employees.