Spokane Area Business Foundation

Analysis

Spokane Area Business Foundation is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2022, Spokane Area Business Foundation reported income of $273k and spending of $70k, leaving 74% of income unspent that year. Across the 5 years on record, from September 2019 to December 2022, income grew from $126k to $273k (+117%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 349%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Spokane Area Business Foundation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within WA. Charities of a similar size with the same main cause include Wayne County Development Corporation ($273k), Huerfano County Economic Development Inc ($273k) and Highland Community Association Inc ($273k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $584k against liabilities of $17k, net assets of $567k.