Foundation for Multicultural Solutions

Analysis

Foundation for Multicultural Solutions is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in May 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation for Multicultural Solutions reported income of $293k and spending of $273k, spending 93% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $249k to $293k (+18%), an average of +5.5% a year. The sharpest change came in the year to December 2023, when income rose by 73%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation for Multicultural Solutions sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within WA. Charities of a similar size with the same main cause include Roots & Roads Community Hospice Foundation ($293k), Hermansky Pudlak Syndrome Network Inc ($293k) and Elmhurst Walk-In Assistance Network ($293k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $52k (19% of expenses). Other salaries and wages came to $112k. At year end it held assets of $43k against liabilities of $3,202, net assets of $40k. It reported 3 employees.