The Woodmark Group

Analysis

The Woodmark Group is a registered charity in United States, based in Shoreline, WA. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 August 2023, The Woodmark Group reported income of $1.8m and spending of $1.8m, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.5m to $1.8m (+17%), an average of +4.0% a year. The sharpest change came in the year to August 2023, when income rose by 57%. Over the whole period it spent 106% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Woodmark Group sits at the 86th percentile: it is larger than about 86% 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 Washington Apple Education Foundation ($1.8m), Sai Aashraya Inc ($1.8m) and Optimist International Foundation ($1.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 8.7% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $279k (15% of expenses). Other salaries and wages came to $350k. At year end it held assets of $4.0m against liabilities of $1.7m, net assets of $2.3m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.