Puget Sound Energy Foundation
Puget Sound Energy Foundation maintains substantial assets with fluctuating revenue and no reported officer compensation.
EIN: 204863534 · Wilmington, DE · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $1.3M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $20 |
| Net Assets | $19.1M |
| Transparency Score | 85/100 |
Is Puget Sound Energy Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Puget Sound Energy Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Puget Sound Energy Foundation
Puget Sound Energy Foundation (EIN: 204863534) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T20. The organization reported total revenue of $2.6M and total assets of $19.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Puget Sound Energy Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Puget Sound Energy Foundation is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.3M |
| Surplus / Deficit | $-147,045 |
| Total Assets | $19.1M |
| Total Liabilities | $1 |
| Net Assets | $19.1M |
| Operating Margin | -13.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 181.2 months |
Financial Health Grade: B
In 2023, Puget Sound Energy Foundation reported a deficit of $147K with expenses exceeding revenue, holds 181.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Puget Sound Energy Foundation's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +67.8% | -2.6% | -0.8% |
| 2022 | -83.7% | -44.3% | -3.2% |
| 2021 | +187.3% | +14.0% | +9.6% |
| 2020 | +23.3% | +59.0% | -3.3% |
| 2019 | +15.5% | +1.5% | -1.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Puget Sound Energy Foundation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Puget Sound Energy Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $147K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officer salaries are paid directly by the foundation, which is highly unusual for an organization with assets nearing $20 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Puget Sound Energy Foundation's IRS 990 filings:
- Significant year-over-year fluctuations in revenue without clear explanation in provided data
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data to fully assess efficiency
Strengths
The following positive indicators were identified for Puget Sound Energy Foundation:
- Strong and stable asset base, currently $19,588,956
- Consistent reporting of zero officer compensation, indicating low administrative overhead in this area
- Minimal liabilities reported across all filings (mostly $1 or $0)
Frequently Asked Questions about Puget Sound Energy Foundation
Is Puget Sound Energy Foundation a legitimate charity?
Puget Sound Energy Foundation (EIN: 204863534) is a registered tax-exempt nonprofit based in Delaware. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.6M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Puget Sound Energy Foundation spend its money?
Puget Sound Energy Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Puget Sound Energy Foundation tax-deductible?
Puget Sound Energy Foundation is registered as a tax-exempt nonprofit (EIN: 204863534). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Puget Sound Energy Foundation CEO make?
Puget Sound Energy Foundation's highest-compensated officer earns $20 annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Puget Sound Energy Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Puget Sound Energy Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Puget Sound Energy Foundation located?
Puget Sound Energy Foundation is headquartered in Wilmington, Delaware and files with the IRS under EIN 204863534. It is classified under NTEE code T20.
How many years of IRS 990 filings does Puget Sound Energy Foundation have?
Puget Sound Energy Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.6M in total revenue.
Is Puget Sound Energy Foundation a good charity?
Based on the available data, the foundation appears to be financially stable with significant assets and a commendable record of zero reported officer compensation, suggesting a strong focus on directing funds to its mission. However, a full assessment would benefit from detailed program spending ratios.
How does the foundation manage its expenses given zero officer compensation?
The consistent reporting of zero officer compensation suggests that executive functions might be performed by volunteers, or more likely, compensated by an affiliated entity (e.g., Puget Sound Energy), which would not be reflected in the foundation's 990 filing.
What is the trend in the foundation's revenue and expenses?
Revenue has been highly variable, from $525,111 in 2011 to $4,075,810 in 2021, while expenses have generally been lower than revenue in some years (e.g., 2021) and higher in others (e.g., 2023, 2022), indicating a reliance on its asset base or prior year surpluses to cover operational costs when revenue is lower.
Filing History
IRS 990 filing history for Puget Sound Energy Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Puget Sound Energy Foundation's revenue has grown by 112.6%, moving from $525K to $1.1M. Total assets decreased by 3.7% over the same period, from $19.8M to $19.1M. Total functional expenses rose by 51.8%, from $832K to $1.3M. In its most recent filing year (2023), Puget Sound Energy Foundation reported a deficit of $147K, with expenses exceeding revenue. The organization holds $1 in liabilities against $19.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $19.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $1.3M | $19.1M | $1 | — | — |
| 2022 | $665K | $1.3M | $19.2M | $1 | — | View 990 |
| 2021 | $4.1M | $2.3M | $19.9M | $1 | — | View 990 |
| 2020 | $1.4M | $2.0M | $18.1M | $1 | — | — |
| 2019 | $1.2M | $1.3M | $18.7M | $1 | — | View 990 |
| 2015 | $996K | $1.3M | $19.0M | $0 | — | View 990 |
| 2014 | $974K | $1.1M | $19.3M | $0 | — | View 990 |
| 2013 | $854K | $1.0M | $19.5M | $0 | — | View 990 |
| 2012 | $850K | $1.0M | $19.6M | $0 | — | View 990 |
| 2011 | $525K | $832K | $19.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $1.3M, and assets of $19.1M (revenue +67.8% year-over-year).
- 2022: Revenue of $665K, expenses of $1.3M, and assets of $19.2M (revenue -83.7% year-over-year).
- 2021: Revenue of $4.1M, expenses of $2.3M, and assets of $19.9M (revenue +187.3% year-over-year).
- 2020: Revenue of $1.4M, expenses of $2.0M, and assets of $18.1M (revenue +23.3% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.3M, and assets of $18.7M (revenue +15.5% year-over-year).
- 2015: Revenue of $996K, expenses of $1.3M, and assets of $19.0M (revenue +2.3% year-over-year).
- 2014: Revenue of $974K, expenses of $1.1M, and assets of $19.3M (revenue +14.0% year-over-year).
- 2013: Revenue of $854K, expenses of $1.0M, and assets of $19.5M (revenue +0.5% year-over-year).
- 2012: Revenue of $850K, expenses of $1.0M, and assets of $19.6M (revenue +61.9% year-over-year).
- 2011: Revenue of $525K, expenses of $832K, and assets of $19.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Puget Sound Energy Foundation:
Data Sources and Methodology
This transparency report for Puget Sound Energy Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.