Georgetown Community Development Authority
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
GCDA BUILDS RESILIENT COMMUNITY THROUGH AFFORDABLE PLACEMAKING AND PLACEKEEPING IN THE DUWAMISH VALLEY. WE CREATE AT THE INTERSECTION OF THE ARTS, EQUITY, AND COLLECTIVE WELL-BEING.
- Income
- $1.5 million
- Spending
- $4.5 million
- Spent on programs
- 86%
- Reserves
- -58.9 months of spending
- Largest source of income
- fees for its services, 89%
- Employees
- 8
- Volunteers
- 550
- Highest pay
- $79,924, deputy director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 8 out of 100.
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 131% of what it owns.
Living within its means
0 of 15Spending exceeded income by 208% of income.
Income trend
0 of 15Income fell 46% on the year before.
Spending floor
8 of 1586% of spending went to programs and raising each dollar of donations cost 41 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 85 out of 100.
Independent board
25 of 2510 of 10 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $3.9 million spent. WATERSHED (FORMERLY KNOWN AS GEORGETOWN COMMUNITY DEVELOPMENT AUTHORITY) IS A COMMUNITY-BASED 501(C)(3) NONPROFIT ORGANIZATION THAT OPERATES AFFORDABLE ARTIST AND ARTISAN WORK SPACES AND PLANS TO BUILD A VILLAGE OF WORKFORCE HOUSING AND COMMUNITY SPACE IN THE GEORGETOWN NEIGHBORHOOD OF SEATTLE. WE CENTER FOLKS WHO LIVE AND WORK IN THE DUWAMISH VALLEY; BIPOC INDIVIDUALS; ARTISTS; AND THOSE WHO COME FROM COMMUNITIES THAT HAVE BEEN, OR ARE AT RISK OF BEING, DISPLACED FROM THIS REGION.(CONTINUED IN SCHEDULE O)WATERSHED WAS FORMED IN 2019. AT ITS CORE IS EQUINOX STUDIOS, WHICH HAS OPERATED IN GEORGETOWN SINCE 2006 AND IS NOW A CORE PROGRAM OF WATERSHED. EQUINOX STUDIOS PROVIDES A CREATIVE HOME FOR OVER 125 ARTISTS AND ARTISANS WORKING IN AND ACROSS MANY CRAFTS AND DISCIPLINES.THE NEW LIVE/WORK DISTRICT NAMED "THE BEND" WILL BE LOCATED IN THE GEORGETOWN NEIGHBORHOOD OF SEATTLE. IT WILL INCLUDE UP TO 1,000 UNITS OF HOUSING, ALL OF WHICH WILL BE AFFORDABLE TO PEOPLE EARNING NO MORE THAN 80% OF AREA MEDIAN INCOME. THE BEND WILL ALSO INCLUDE AFFORDABLE COMMUNITY SPACES, NEIGHBORHOOD BUSINESSES, AND CULTURAL FACILITIES THAT ARE INTEGRATED WITH GEORGETOWN'S COMMERCIAL AND INDUSTRIAL CORE. IT WILL INCREASE JOB OPPORTUNITIES AND PROVIDE HOUSING FOR THOSE MOST AT RISK OF BEING IMPACTED BY TRENDS OF WEALTH-DRIVEN DISPLACEMENT IN SEATTLE. OUR AIM IS TO CULTIVATE LONG-TERM COMMUNITY WEALTH THROUGH THOUGHTFUL REAL ESTATE ACQUISITION AND DEVELOPMENT; COMMUNITY ENGAGEMENT AND OWNERSHIP; SPACE FOR SMALL BUSINESSES, NOT-FOR-PROFIT ORGANIZATIONS, AND ARTISTIC GROWTH; AND PROGRAMMING THAT BUILDS RELATIONSHIPS BETWEEN ALL THE ENTITIES THAT ARE PART OF THE BEND, THE GEORGETOWN NEIGHBORHOOD, AND GREATER DUWAMISH VALLEY.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 2021.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.