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Puget Sound Restoration Fund

EIN 91-1773965 · Bainbridge Is, WA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO RESTORE HABITAT, WATER QUALITY AND NATIVE SPECIES IN THE PUGET SOUND

Income
$2.6 million
Spending
$2.9 million
Spent on programs
90%
Reserves
9 months of spending
Largest source of income
government grants, 63%
Employees
28
Highest pay
$166,999, director emeritus

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

Fair: 67 out of 100. Higher than 35% of charities in its peer group (environment, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 9.0 months of spending.

  • Debt

    20 of 20

    It owes 10% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 13% of income.

  • Income trend

    0 of 15

    Income fell 25% on the year before.

  • Spending floor

    15 of 15

    90% of spending went to programs and raising each dollar of donations cost 1 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. Higher than 31% of charities in its peer group (environment, $1m to $10m).

  • Independent board

    25 of 25

    11 of 13 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports 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 (4)
  1. $804,725 spent. BULL KELP RESTORATION - CONTINUED DEVELOPING AND ADVANCING A SUITE OF CAPABILITIES TO RESPOND TO DECLINES IN OUR REGIONS KELP FORESTS. WITH A BROAD SET OF PARTNERS, WE HAVE BEEN TESTING ENHANCEMENT TECHNIQUES, ESTABLISHING KELP LAB FACILITIES, CREATING A KELP SEED BANK AS A LONG-TERM ARCHIVE OF GENETIC MATERIAL FROM OVER 20 KELP FORESTS IN PUGET SOUND, ESTABLISHING UNDERWATER MONITORING SITES, AND BEGINNING A GENETICS ASSESSMENT. SINCE 2020, PSRF HAS SUCCESSFULLY GROWN CANOPY KELP EACH YEAR FROM SEAFLOOR TO SURFACE AT DOE-KAG-WATS/PT. JEFFERSON IN CENTRAL PUGET SOUND IN PARTNERSHIP WITH THE SUQUAMISH TRIBE, NOAA, WASHINGTON STATE, AND OTHER PARTNERS.
  2. $546,571 spent. ABALONE RECOVERY - CONTINUED MANAGING A PINTO ABALONE CONSERVATION BREEDING AND PROGRAM BY PRODUCING AND REARING GENETICALLY DIVERSE ABALONE IN THE HATCHERY AND THEN OUTPLANTING JUVENILE ABALONE AT RESTORATION SITES TO HELP RECOVER SEVERELY DEPRESSED ABALONE POPULATIONS IN WASHINGTON STATE. PINTO ABALONE HELP MAINTAIN HEALTHY SUBTIDAL ROCKY REEF HABITAT AND KELP FOREST ECOSYSTEMS BY GRAZING AND CLEARING ROCK SURFACES FOR SETTLEMENT BY OTHER ORGANISMS. THROUGH DECEMBER 2024, NEARLY 62,000 JUVENILE ABALONE HAVE BEEN INTRODUCED AT RESTORATION SITES IN THE SAN JUAN ARCHIPELAGO (SJA) THROUGH A LONG-TERM PARTNERSHIP WITH WASHINGTON DEPARTMENT OF FISH & WILDLIFE, NOAA, TRIBES, AND UNIVERSITIES. THE GOAL IS TO USE HEALTHY, GENETICALLY DIVERSE HATCHERY REARED JUVENILE ABALONE TO CREATE AGGREGATIONS IN THE WILD THAT DEVELOP INTO SUSTAINABLY REPRODUCING POPULATIONS. OUTPLANT DATA ANALYZED IN 2018 DOCUMENTED A 97% DECLINE IN THE POPULATION AT INDEX STATIONS 1994-2017.
  3. $203,495 spent. CONSERVATION HATCHERY - OPERATED A CONSERVATION HATCHERY ESTABLISHED WITH NOAA UNDER THE AUSPICES OF THE WASHINGTON SHELLFISH INITIATIVE. ESTABLISHED IN 2013, THE KENNETH K CHEW CENTER FOR SHELLFISH RESEARCH AND RESTORATION SERVES AS A HUB FOR PROPAGATING AND RESTORING NATIVE SPECIES AND DEVELOPING STRATEGIES TO MITGATE THE IMPACTS TO MARINE RESOURCES DUE TO OCEAN ACIDIFICATION. THE HATCHERY IS OPERATED BY PUGET SOUND RESTORATION FUND AT THE NOAAS MANCHESTER RESEARCH STATION IN MANCHESTER, WA THROUGH A COOPERATIVE RESEARCH AND DEVELOPMENT AGREEMENT. HATCHERY AND NURSERY OPERATIONS INCLUDED MAINTAINING MICROALGAE CULTURE, PRODUCING AND REARING OLYMPIA OYSTERS AND PINTO ABALONE FOR RESTORATION OUTPLANTS, PROPAGATING KELP SEED TO HELP REGROW KELP FORESTS, ADAPTIVELY MANAGING CONSERVATION PROTOCOLS TO ENSURE GENETIC DIVERSITY, AND CONDUCTING RESEARCH ON OCEAN ACIDIFICATION AND OTHER STRESSORS AFFECTING SHELLFISH POPULATIONS.
  4. $1.1 million spent. OTHER SMALL PROGRAMS

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

  1. 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.

  2. 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.

  3. 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.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 1997.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. 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.