501 Commons

Analysis

501 Commons is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in April 1993, 33 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 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, 501 Commons reported income of $22.2m and spending of $26.1m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $22.2m (+454%), an average of +53% a year. The sharpest change came in the year to December 2023, when income rose by 214%. Over the whole period it spent 147% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, 501 Commons sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within WA. Charities of a similar size with the same main cause include Community Ventures Corporation Inc ($22.2m), Options for All Inc ($22.2m) and Fresno Area Workforce Investment Corporation ($22.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $311k (1.2% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $127.4m against liabilities of $39.6m, net assets of $87.8m. It reported 101 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.